Sunil Singhania’s portfolio small-cap stock with Rs 4,443 crore order book: This civil construction company bags new order worth Rs 630,90,00,000 from Rail Vikas Nigam Ltd
The stock is up over 12.7 per cent from its 52-week low of Rs 640.55 per share.
PSP Projects Ltd that the company is in receipt of new work order worth Rs 630.90 crore (excluding taxes) for construction of Gati Shakti Vishwavidhyalaya at Vadodara for Rail Vikas Nigam Limited in Government Category. The project is to be completed within a period of 30 months. With receipt of the above order, the total order inflow during the financial year 2023-24 till date amounts to INR 2626.61 crore.
Earlier, PSP Projects Ltd announced new work orders totalling Rs 935.41 crore, including: developing the Dharoi Dam region as a sustainable tourist destination (Rs 357.07 crore), civil and finishing work for a street in Gandhinagar (Rs 155.62 crore), and development of the Sabarmati Riverfront in Ahmedabad (Rs 399.38 crore). All projects are in the government category and will be completed within 15-30 months.
Order book: With the receipt of the above, the total value of projects for which we stand as Lowest Bidder amounts to Rs 928 crore for the financial year 2023-24, which is in addition to the work orders received till date amounting to Rs 2,626.61 crore for the financial year 2023-24. Additionally, as of December 31, 2023, the company’s order book stands at Rs 4,443 crore, a total of 219 projects were completed and 49 projects are ongoing.
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PSP Projects Limited is a construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India. It is also engaged in the real estate development of two mid-scale projects in the USA through its subsidiaries. The company had a market cap of Rs 2,647 crore.
On Friday, shares of PSP Projects Ltd surged 0.54 per cent to Rs 735.20 per share with an intraday high of Rs 747.50 and an intraday low of Rs 730.05. The company's shares are trading at a PE of 17.79x whereas the sectoral PE is 28.5x and an ROCE of 25 per cent. As of December 2023, Madhulika Agrawal wife of an ace investor of Mukul Agrawal owns a 2.78 per cent stake in the company while another ace investor, Sunil Singhania thought his Abakkus Emerging Opportunities Fund, owns a 1.51 per cent stake.
The stock is up over 12.7 per cent from its 52-week low of Rs 640.55 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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