Shares of PSP Projects Ltd. surged 4% to a day’s high of Rs 669 on 8th October after the firm announced it had secured an order worth Rs 249 crore to construct a high-rise residential tower named ‘SIBAN’ at GIFT City in Gandhinagar, Gujarat.

With this new order, PSP Projects’ total order flow for the current financial year has reached Rs 1,714.46 crore.

Two weeks ago, the company announced it secured new orders worth Rs 554.92 crore, including the construction of the Old Stone Hotel and Commercial Towers in Bengaluru for Rs 389.29 crore in the institutional category and residential towers in Ahmedabad valued at Rs 165.04 crore.

In August, the company secured multiple projects valued at Rs 654.67 crore.

The first order, worth Rs 484.02 crore, is for civil and structural work on the ‘Himalaya’ project in Sanand, Gujarat, for International Refreshments (India) Pvt. Ltd. The second order, valued at Rs 102 crore, is for the construction of the ‘Ninety’ project in Mumatpura, Ahmedabad.

So far, in 2024, the stock has returned 14.5% negative. The company’s market capitalisation is around Rs 2,593 crore.

At 2:19 PM, the shares of PSP Projects were trading 3.55% higher at Rs 654.35 on NSE.

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