Rs 4,443 crore order book: This construction stock bags back-to-back new orders worth Rs 796.30 crore!
The company informed that the total order inflow during the financial year 2023-24 till date amounts to Rs 3422.91 crores.
PSP Projects Limited has secured new work orders valued at Rs 410.06 crore (excluding taxes). This includes the construction of a Fintech Building for Gujarat International Finance Tec-City Company Limited at GIFT City, Gandhinagar, for Rs 333.06 crore (government category) to be completed within 36 months. This latest win brings PSP Projects' total order inflow for the current financial year (2023-24) to Rs 3422.91 crore, which includes an additional Rs 77 crore of work from existing contracts.
Previously, PSP Projects also secured work orders worth Rs 386.24 crore (excluding taxes). These projects include the construction and maintenance of the Human and Biological Gallery at Science City, Ahmedabad (Rs 268.11 crore, government category, 18-month completion) and the construction of the commercial building ORYX at GIFT City, Gandhinagar (Rs 118.13 crore, institutional category, 24-month completion).
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With a robust order pipeline and a proven track record, PSP Projects is poised for continued growth, promising to be a major player in shaping India's infrastructure landscape for years to come.
PSP Projects Limited reported a strong third quarter for FY24, with a net sales increase of 40.91 per cent to Rs 704.75 crore, compared to Rs 500.16 crore in the same quarter last year. The operating profit also experienced a significant increase of 11.45 per cent. The net profit for the quarter stood at Rs 31.07 crore, which was Rs 35.33 crore in the previous year's same quarter.
PSP Projects Limited is a construction company that offers a diversified range of construction and allied services across industrial, institutional, government, and residential projects in India. The company has an order book worth Rs 4,433 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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