Hot Pursuit
PSP Projects announced that it has received work orders worth Rs 1,764.12 crore for a wide range of infrastructure and construction projects across Ahmedabad, primarily in the institutional and residential categories.
The company stated that it secured the city-side development project at Ahmedabad Airport, worth Rs 647.22 crore, from Adani Airport Holdings, which is set to be completed within 18 months.
The Adani Medicity & Research Center construction project, valued at Rs 411.72 crore from Vitthal Mandir, is scheduled for completion in 24 months.
Additionally, a residential project at Shatigram, Ahmedabad, amounting to Rs 139.93 crore, from Adani Realty, is set to be completed in 22 months.
The leadership guest house at Shatigram, Ahmedabad, worth Rs 147.47 crore, from Adani Enterprises, is set to be completed within 18 months.
The Airside and Landside Development at Ahmedabad Airport, worth Rs 223.47 crore, from Ahmedabad International Airport, is slated for completion in 12 months.
Lastly, a training center at Shantigram, Ahmedabad, valued at Rs 61.07 crore and awarded by Adani Enterprises, has an 18-month completion timeline.
The company also mentioned that it will develop the Vishram Gruh at Asarva Civil Hospital Campus, worth Rs 51 crore (excluding GST), for Sevadaan Arogya Foundation in the Residential Category. The project is set to be completed within 20 months.
Furthermore, the company reported small-value work orders/amendments totaling Rs 82.24 crore. With these projects, the company's total order inflow for FY25 stands at Rs 3,478.58 crore, according to an exchange filing.
On another note, the company was also the lowest bidder (L1) for the development of a street in Ahmedabad, worth Rs 120.53 crore (excluding GST).
PSP Projects is a diversified construction company offering a wide range of services across industrial, institutional, government, and residential sectors.
The company's consolidated net profit declined 83.8% to Rs 5.05 crore, while net sales dropped 10.6% to Rs 630.21 crore in Q3 FY25 compared to Q3 FY24.
Shares of PSP Projects fell 1.43% to Rs 620.55 on the BSE.
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