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PSP Projects receives civil construction work order worth Rs 200 crore

PSP Projects receives civil construction work order worth Rs 200 crore

PSP Projects receives civil construction work order worth Rs 200 crore
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By CNBCTV18.com Nov 10, 2022 2:26:31 PM IST (Published)

With the new order, the company’s total order inflow for the current financial year till date stood at Rs 1,711.58 crore.

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PSP Projects has received a letter of intent (LOI) from a repeat client for a project worth Rs 200 crore.


The company stated that it has received the LOI for civil construction work to expand an existing plant from a repeat client that belonged to the industrial segment.

The order value is excluding the Goods & Services Tax.

With the new order, the company’s total order inflow for the current financial year till date stood at Rs 1,711.58 crore.

For the September quarter, the company reported a decline in its net profit to Rs 21.55 crore from Rs 36.4 crore during the same period last year. Overall revenue also declined 8 percent from last year.

Broking firm ICICI Direct has maintained its buy rating on the stock with a price target of Rs 720 per share.
Shares of PSP Projects are trading 0.4 percent higher at Rs 625.10. The stock has gained 27 percent so far this year.
 
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