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Informist, Tuesday, Sep 10, 2024

 

--Source: PSP Projects lowest bidder for 2 projects of 6 bln rupees

 

By Sunil Raghu

AHMEDABAD - PSP Projects Ltd has emerged as the lowest bidder for two new projects worth 5.5-6 bln rupees and the company is likely to make an official announcement about this by the end of this week, a senior company official told Informist on condition of anonymity.

The official refused to name the projects, but said that one of the projects is worth about 3.5-4 bln rupees, and another is worth 2 bln rupees. The larger project is from a south India-based real estate major and the smaller one is a residential project from a Gujarat-based builder.

"The company has already received a letter of intent for one of the projects and is awaiting another one before making it public on the stock exchanges," the official said.

The company had announced bagging multiple orders worth 6.55 bln rupees on Aug 14, taking the total order inflow for the current financial year to 8.9 bln rupees. Its total order book was at 58.9 bln rupees. The company has an order inflow guidance of 35 bln rupees for 2024-25 (Apr-Mar).

At 1039 IST, shares of PSP Projects traded at 670.95 rupees on the National Stock Exchange, up 0.8%.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

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