Shares of PSP Projects Limited jumped over 5 percent to Rs 709 on September 23 after the company announced new work orders worth Rs 555 crore across multiple sectors.
According to the company’s exchange filing, the major projects include the construction of the Gold Stone Hotel and Commercial Towers in Bengaluru, valued at Rs 389.29 crore, and residential towers in Ahmedabad, worth Rs 165.04 crore.
The Gold Stone Hotel shall be completed in 22 months, while the commercial towers shall be completed within 16 months. In Ahmedabad, residential towers should be completed within 25 months.
This is its second big order in a month. The mid-August order involved Rs 654.6 crore for civil and structural job for the ‘Himalaya’ project located in Gujarat and another for Rs 102 crore for the ‘Ninety’ project in Ahmedabad.
At 12:45 pm, shares of PSP Projects were trading 3 per cent higher at Rs 695 apiece as compared to the previous close. However, in the current year so far, the stock has slipped 10 per cent.
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Source: Moneycontrol
News Desk
