Shares of PSP Projects Ltd. surged by 3%, reaching a day’s high of Rs 709.40 on 23rd September after the firm announced it had received new orders worth Rs 554.92 crore.

The latest orders encompass the development of the Gold Stone Hotel and Commercial Towers in Bengaluru, estimated at Rs 389.29 crore in the institutional sector, along with residential towers in Ahmedabad valued at Rs 165.04 crore.

In Bengaluru, the Gold Stone Hotel is scheduled for completion in 22 months, while the commercial towers are expected to be completed within 16 months.

The residential towers in Ahmedabad are set to be completed within 25 months.

With the new orders, the company’s total order inflow for the current fiscal year has reached Rs 1,444.91 crore so far.

Last month, the company announced it secured multiple projects worth a total of Rs 654.67 crore.

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

At 12:21 PM, the shares of PSP Projects were trading 3.28% higher at Rs 695.50 on NSE.

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