PSP Projects get LoA worth Rs 357.90 crore from various clients

Ahmedabad-based construction firm, PSP Projects has received work orders amounting to Rs 357.90 crore for institutional, industrial, government and government residential projects from various clients. The order includes a major work for the development and beautification of Shri Kashi Vishwanath Dham at Varanasi (Uttar Pradesh) worth Rs 339.00 crore and the remaining orders are from other clients.

Along with this, the total work orders received during the financial year 2019-20 on standalone basis, amounts to Rs 1,510.85 crore.

As on Q2FY20, the company has an order book of almost Rs 3,190.9 crore, which gives the revenue visibility for the next 3 years. Further, it had strong orders in the pipeline of about Rs 2,000 crore.

Looking at the recently concluded quarter Q2FY20, the company’s net sales surged nearly 47 per cent YoY to Rs 312.1 crore. Notably, Profit after Tax (PAT) jumped around 88 per cent YoY to Rs 32.46 crore.

Today, the company’s stock gained nearly 1 per cent and made an intraday high of Rs 531.95 on BSE. At 10:46 am, the stock of PSP Projects was trading nearly at Rs 531 on BSE.