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Informist, Friday, Nov. 28, 2025

 

--Sources: PSP Projects bags order to build over 100 rest houses

--Sources: Order for rest houses may fetch PSP Projects up to INR 50 bln

--Sources: PSP Projects has recognised revenue from five rest houses so far

 

By Sunil Raghu

 

AHMEDABAD – PSP Projects Ltd. has bagged a contract to build over 100 rest houses across India for a leading Indian conglomerate, two officials from the company handing out the construction contract told Informist. The size of the deal could vary from INR 25 billion to INR 50 billion.

 

"Physical work on the initial order to build five rest houses has already begun and the work on remaining rest houses would begin as and when the government allots land," one of the two officials said. "All these rest houses would be set up near government hospitals for the relatives of patients undergoing treatment."

 

The construction company has already recognised revenue from the first five rest houses under the contract. As on Sept. 30, PSP Projects was reported to have an order book of INR 99 billion. Nearly 56% of this was accounted for by Adani group projects and the rest by other projects such as an upcoming building in Gujarat International Fintec City and the Dharoi water sports complex. Currently, PSP Projects is also involved in the construction of residential buildings near the Mundra port area and at Shantigram, the headquarters of Adani Group in Ahmedabad.

 

In August, Adani Infra (India) Ltd. was designated as a promoter with joint control of PSP Projects, after it acquired 34.41% stake in the company by buying 23.09% from founding promoter Prahlad Patel and another 11.32% through an open offer.

 

For the September quarter, PSP Projects reported an over 58% year-on-year rise in its net profit at INR 161.6 million on revenue of INR 6.94 billion, up 20% on year. At 1200 IST, shares of the company were at INR 930 on the National Stock Exchange, down over 2%.  End

 

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

 

Edited by Avishek Dutta

 

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