PSP Projects announced on Thursday the acquisition of a work order valued at Rs 101.67 crore (excluding GST) for a project at GIFT City, Gandhinagar, with an 18-month completion timeline.
The company stated in a regulatory filing, 'We are delighted to receive a Work Order totaling Rs 101.67 crore (excluding GST) for the project 'Construction and Maintenance of Main Building of GBRC' at GIFT City, Gandhinagar, Gujarat, falling under the Government Category for the Gujarat Biotechnology Research Centre (GBRC).'
This recent acquisition contributes to the company's total order inflow for the financial year 2023-24, which has now reached Rs 1060.30 crore.
Additionally, PSP Projects shared, 'We are also pleased to announce that we have emerged as the Lowest Bidder (L1 Bidder) for the project 'Development of Sabarmati Riverfront' for Ahmedabad Municipal Corporation at Ahmedabad, Gujarat, valued at Rs 409.93 crore (excluding GST).
In October, PSP Projects expanded its project portfolio by enhancing the scope of work for the construction of a chocolate plant (Phase III) in Sanand, Ahmedabad, commissioned by a multinational company. The revised value of the order, initially Rs 200 crore in the institutional category, increased to Rs 266.56 crore. The project is slated for completion within 19 months. Additionally, PSP Projects secured another significant order to construct the OVD_14 Commercial Tower in GIFT City, Ahmedabad, valued at Rs 57.33 crore from Ozone Viswanath Developers in the institutional category. Another project involved the development of the Kalamkhus Campus in Ahmedabad, worth Rs 24.81 crore, commissioned by the local civic body in the government category. These additions contributed to the cumulative order inflow for the financial year 2023-24, which reached Rs 958.63 crore at that time.
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