NEW DELHI: Construction company PSP Projects surged on Thursday on back of new orders bagged by the firm.
Shares of PSP Projects jumped 6% to Rs 624 in opening market deals. At 10.40 am, the stock was trading 4.14% higher at Rs 610.7.
The strong performance in PSP's stock comes on back of a massive Rs 247 crore project the company bagged on Wednesday.
"We are pleased to inform that the company has been awarded the contracts worth Rs 247.35 crore (excluding GST) from precast and government segments," the company said in an official release.
Gujarat-based PSP is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India.
According to its website, the company is currently constructing world’s biggest office complex (Surat Diamond Bourse) having contract value of Rs 1575 crore and 66 lakh square feet built-up area.
With the new contract, the company's total order inflow for the financial year 2022-23 till date
amounts to Rs 1,344.24 crore, it said.
