Ahmedabad based PSP Projects bagged 3.72 billion rupee new construction orders

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Exchanges in India on Monday, Ahmedabad headquartered PSP Projects Ltd said of having bagged new institutional and industrial construction projects pegged at 3.72 billon (~372.47 crore) rupees.

The company has bagged new Institutional & Industrial projects worth Rs. 372.47 crores from various clients including two projects of Rs. 208.49 crores in which the company has been ranked the L1 bidder (Lowest Bidder) by regulatory authority, the filing read.

The above includes two major work orders received from Tornascent Care Institute for Construction of hospital building (Rs. 67.88 crores) and Ahmedabad University for Construction of Student Activity center (Rs. 51.50 crores), the filing said.

The total work orders received (including L1 mentioned above) during the financial year 2018-19 (till date) on standalone basis amounts to f 804.62 crores.

Announcement of the company having bagged new orders had hit the exchange after the trading session had come to an end on the Indian bourses, it will be indeed interesting to see, how investors & traders react to the development, when trading floors reopen for business on the Indian Exchanges, on Tuesday.