PSP Projects announced as lowest bidder for project worth Rs 158.61 crore

22 Dec 2023 , 11:15 PM

PSP Projects Ltd said that it has emerged as the lowest bidder for a Rs 158.61 crore project from the Gujarat government.

The Ahmedabad-based construction company was awarded the lowest bid (L1) for the project named Civil, MEP, and Finishing Work for Street Development for Gandhinagar Municipal Corporation. According to a stock market filing, the project is worth Rs 158.61 crore excluding GST.

For the current fiscal year 2023-24 (FY24), the business indicated that the total value of contracts for which it is the lowest bidder amounts to Rs 1,222.47 crore. The current order is in addition to the work orders received to date totaling Rs 1,060.3 crore for the fiscal year in question.

PSP Projects said that it has been announced as lowest bidder for three major projects in Gujarat, including a dam project worth around Rs 400 crore, a Rs 100 crore project in Gandhinagar, and another project worth approximately Rs 300 crore in Ahmedabad.

On Friday, PSP Project’s share closed flat at Rs 762.

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