PSP Projects Ltd jumps over 6 per cent on receiving new orders

Gujarat-based company, PSP Projects Limited announced on Wednesday post-market session that the company has received new orders. Reacting to the news, its share climbed over 6 per cent on BSE.  

The company informed that it has received a letter of intent (LoI) from a private developer in Ahmedabad (Gujarat) for a project worth Rs 588.62 crore (including GST). Additionally, the company has been ranked as the L1 bidder (lowest bidder) by a regulatory authority for projects worth Rs 1,249.41 crore (including GST) for the construction of medical colleges across multiple locations in the state of Uttar Pradesh. 

PSP Projects Ltd is engaged in a diversified range of constructions and provides its services across the construction value chain, ranging from planning & design to construction and post-construction activities. Earlier, the company was focussed on Gujarat-based projects; however, it actively expanded its geographical presence to other states and also, has a diversified portfolio of services. 

At 12.30 pm on Thursday, the company’s stock was trading at Rs 450.05, up by 6.17 per cent on BSE. It has an intraday high of Rs 452.00 and an intraday low of Rs 428.70 on BSE.