The project has been awarded by the National Dairy Development Board, the company informed the bourses.
PSP Projects Ltd gained more than 3% on Tuesday after the company announced that it emerged as the lowest bidder for the development of a dairy plant in Rajkot, Gujarat for a project worth nearly ₹445 crore.
The Ahmedabad-based construction firm informed the stock exchanges, in a filing on January 23, that it has secured the lowest bid (L1 bidder) in the project titled, ‘Development of a Dairy Plant’ in Gadhka, Rajkot.
The project has been awarded by the National Dairy Development Board, and is worth ₹444.63 crore excluding the GST, the company informed the bourses.
PSP Projects is a multi-disciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, and residential projects in India.
PSP Projects emerged as the lowest bidder for a project worth ₹630.9 crore from Rail Vikas Nigam Ltd (RVNL). The project termed as ‘Construction of Gati Shakti Vishwavidyalaya’ was awarded by the railway company in Vadodara, Gujarat.
The company reported a consolidated net profit of ₹38.52 crore for the quarter ending September 2023, posting an impressive 78.78% higher than ₹21.55 crore in the same period last year. The net sales jumped 72.13% to ₹619.65 crore in Q2FY24 from ₹359.98 crore in the year-ago period.
Shares of the company traded at ₹764.40, up 0.49%, on BSE at 11:57AM.
