PSP Projects Ltd on Monday announced that it has bagged new orders worth Rs 554.92 crore, excluding taxes. “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform that the company is in receipt of Work Orders worth Rs 554.92 crore (excluding taxes),” the company said in a regulatory filing.
The order includes construction of gold Gold Stone Hotel and Commercial Towers at Bengaluru, Karnataka worth Rs 389.29 crore (excluding GST) in Institutional Category, and the construction of residential towers in Ahmedabad worth Rs 165.04 crore (excluding GST). While the Gold Stone Hotel and Commercial Towers are expected to be completed within a period of 22 months and 16 months respectively, the residential towers in Ahmedabad are to be completed within a period of 24 months.
With receipt of above orders, PSP Projects said, the total order inflow for the financial year 2024-25 till date amounts to Rs 1444.91 crore.
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Earlier in April, PSP Projects had announced the commencement of its qualified institutions placement (QIP) to raise Rs 244 crore. The company had set the floor price for the QIP at Rs 682.59 per equity share, with a provision to offer a discount of up to 5 per cent on the floor price to investors.
From: financialexpress
Financial News
