The company currently also has a bid book of around Rs 4,000 crore. "So reaching to Rs 2,500 crore new inflow of order for this year is not going to be a big task," PS Patel, the chairman, managing director and CEO of PSP Projects, said.
Construction engineering company PSP Projects has orders inflows worth Rs 1,500 crore for this year, so far and its target is to reach Rs 2,500 crore, its chairman, managing director and CEO PS Patel told CNBC-TV18.
"In general, what we have projected for this year is to reach up to Rs 2,500 crore new inflow of orders. I think we have already reached Rs 1,500 crore. As the market is going good and the economic cycle, the way that the country is developing, I think we are getting sufficient inquiries," he said.
The company currently also has a bid book of around Rs 4,000 crore. "So reaching to Rs 2,500 crore new inflow of order for this year is not going to be a big task," Patel said.
Talking about the company's order book, Patel said the firm till June has an outstanding orderbook of around Rs 5,500 crore. "So keeping the same cycle of increasing our order book by 20 percent growth to revenue, I think at the end of 2023, we should remain with an outstanding order book of around Rs 5,000 crore, which would be sufficient for again the next one-and-a-half year," he said.
The construction engineering company recently bagged orders worth nearly Rs 170 crore. Patel said both the orders declared by the company are repeat orders. One of them is for factory work for a client from the food making industry, while the second one is for a precast plant.