PSP Projects get LoA worth Rs 41.68 crore

PSP Projects announced on Thursday that it was in receipt of Letter of Authorisation (LOA) for work orders worth Rs 41.68 crore, excluding GST for an institutional and government project.

The said order included a major work worth Rs 38.78 crore (excluding GST) awarded for finishing work of guest rooms and corridors for the redevelopment of Gandhinagar Capital railway station and also for the development of 300-rooms hotel in Gandhinagar (Gujarat). The total order book for the financial year 2019-2020 till date, on a standalone basis, stood at Rs 1,552.53 crore, excluding GST.   

PSP Projects is a civil construction company engaged in the business of making investments in joint ventures or partnerships and special purpose vehicles for the development of townships, construction of residential-commercial premises, roads or bridges. The company offers a range of construction and allied services across the industrial, institutional, government, government residential and residential projects in India.

Despite the work orders received, the stock closed at Rs 514, down by 1.60 per cent or Rs 8.35 per share. The 52-week high is recorded at Rs 617 and the 52-week low is Rs 379.65 on BSE.