- 16 Aug 2024
- ICICI Securities
PSP projects: Bags orders worth Rs 654 crore
News: PSP projects received work orders amounting 653.7 crore. The first work order is for Civil and Structural Work for the project "Himalaya" at Sanand, Gujarat for International Refreshments (India) Private Limited worth ₹484 Crore in Industrial Category. The Project is to be completed within a period of 14 months. The second order is for Construction of Project "Ninety" at Mumatpura, Ahmedabad, Gujarat worth ₹102 crore. The project is to be completed within a period of 10 months. The balance of ₹67.7 crore includes few small value work orders.
Views: PSP’s order book as of Q1 FY25 stood at ₹5890 crore. With the receipt of the above orders, total order inflow for FY25 stood at 890 crore. The company has also emerged as Lowest Bidder (L1 ) for Construction of Hotel and Secondary High School worth ₹ 168.1 Crore. The new orders gives the company confidence in achieving their order inflow guidance of ₹3500 crore for FY25 given the strong bid pipeline of ₹6500 crore ahead.
Impact: Positive