PSP Projects fell 1.33% to Rs 400 after the tender for EPC project in GIFT City, Gujarat in which the company emerged as the lowest bidder has been cancelled by the tender inviting authority.
The tender for EPC (engineering, procurement, and construction) design and build construction of proposed GIDC Tech-Hub at GIFT City in Gandhinagar (Gujarat), in which PSP Projects emerged as the lowest (L-1) bidder, has been cancelled by the tender inviting authority. The company made the announcement after market hours yesterday, 6 October 2020.Shares of PSP Projects have spurted 71.08% from the 52-week low of Rs 233.80 hit on 24 March 2020.
PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in the country.
On a consolidated basis, the firm reported a net loss of Rs 2.53 crore in Q1 June 2020 compared with a net profit of Rs 25.39 crore in Q1 June 2019. Net sales tanked 65.3% to Rs 106.89 crore in Q1 June 2020 over Q1 June 2019.
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