PSP Projects rose 3.70% to Rs 734.70 after the company informed that it has emerged as the lowest bidder (L1) for a government project worth Rs 1,364.47 crore.
The contract is for "construction of state-of-the-art high rise office building at Surat, Gujarat, for Surat Municipal Corporation.
PSP Projects is a multidisciplinary construction company offering a diverse range of construction and allied services in India. It provides construction services across the construction value chain ranging from planning and design to construction and post construction activities.
The company's consolidated net profit delcined 40.8% to Rs 21.54 crore on 7.8% fall in revenue from operations to Rs 359.98 crore in Q2 FY23 over Q2 FY22.
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