PSP Projects jumped 5.17% to Rs 445.80 after the company said that it received Letter of Intent for a project worth Rs 588.62 crore from a private developer in Ahmedabad, Gujarat.
Further, the company has been ranked the L1 bidder (lowest bidder) by a regulatory authority for projects totaling to Rs 1,249.41 crore for construction of medical colleges at multiple locations at Uttar Pradesh. The announcement was made after market hours yesterday (3 February 2021).
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.
The company's consolidated net profit declined by 20.1% to Rs 29.17 crore on a 7.8% fall in net sales to Rs 390.16 crore in Q3 FY21 over Q3 FY20.
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