PSP Projects Ltd Company Summary

PSP Projects Ltd Summary

PSP Projects Limited was incorporated as a Private Limited Company on August 26, 2008 in the name of PSP Projects Private Limited. The Company converted into a Public Limited Company on 30th June 2015 and the name of the Company was changed to PSP Projects Limited on July 10, 2015 issued by the Registrar of Companies. PSP Projects Limited is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India. It provides services across the construction value chain, ranging from planning and design to construction and post construction activities to private and public sector enterprises.In 2009, PSP Projects acquired the business of BPC Projects. In 2015, the company entered into a partnership deed with Gannon Dunkerley & Co. Ltd.In 2016, the company incorporated PSP Projects Inc. in which the company has 100% stake and the company has also acquired 74% stake in PSP Projects & Proactive Constructions Pvt Ltd.In May 2017, the Company came up with a Public Issue of 10,080,000 Equity Shares by raising equity funds from public aggregating to Rs 21.1.68 Crores consisting a Fresh Issue of 7,200,000 Equity Shares aggregating Rs 151.2 Crore and an Offer for Sale of 1,584,000 Equity Shares aggregating Rs 60.48 Crore.On 3 October 2017, PSP Projects informed the stock exchanges that the company has received work orders worth Rs 505.46 crore during the period from 1 July 2017 to 30 September 2017 from various clients. On 10 October 2017, PSP Projects informed the stock exchanges that the company has received Letter of Intent from Surat Diamond Bourse for main contract work at Surat Diamond Bourse. The total size of the contract is Rs 1575 crore excluding GST.On 8 January 2018, PSP Projects informed the stock exchanges that it has received work orders worth Rs 1776.41 crore during the period from 1 October 2017 to 31 December 2017 from various clients for industrial, institutional, government and residential projects.On 5 April 2018, PSP Projects informed the stock exchanges that it has received work orders worth Rs 87.33 crore during the quarter ended 31 March 2018 from various clients for industrial, institutional and government projects.On 5 September 2018, PSP Projects informed the stock exchanges that it has received work orders worth Rs 226.07 crore (on standalone basis) from various clients for industrial and institutional projects. On 25 September 2018, PSP Projects informed the stock exchanges that credit rating agency CARE Rating Limited has upgraded the companys credit rating for bank facilities on the basis of recent developments including operational and financial performance of the company.On 19 November 2018, PSP Projects announced that it has bagged new Institutional and Industrial projects worth Rs 372.47 crore from various clients including two projects of Rs 208.49 crore in which the company has been ranked the L1 bidder (lowest bidder) by regulatory authority.In 2019-20, the Company completed Commercial Building at GIFT City, Gandhinagar; Zydus Corporate House at Ahmedabad; Punishka Healthcare Plant at Ahmedabad, Bangalore Milk Union Dairy Plant at Kanakpura, Karnataka, Medical College and Hospital for Dharamsinh Desai University (DDU) at Nadiad, Gujarat and Grand Mercury Hotel for Brigade Group at Gift City, Gandhinagar. It commenced work on first project in UP (Shri Kashi Vishwanath Dham at Varanasi). In 2020-21, the Company completed Zydus Hospital at Sitapur, Gujarat, Construction of Medical College and Hospital at Dahod, Gujarat, Construction of R & D and Research centre at Vadodara Gujarat and C.G road Beautification Project of CG Roadat Ahmedabad, Gujarat and Interiors of Leela Hotel, Gandhinagar. Major projects such as Nestle Factory at Sanand, Construction of Student Activity Centre at Ahmedabad University completed during the year 2021-22. The Company completed the building construction work of Preacst Manufacturing Plant at Sanand, Gujarat and the same was commissioned in December, 2021.The Major projects completed during the year 2023 included Surat Diamond Bourse Project at Surat, Development and Beautification of Shri Kashi Vishwnath Temple at Varanasi, Uttar Pradesh; Reliance Rehab and Rescue Centre Project at Jamnagar, Construction of Palladium Mall at Ahmedabad, BSE Brokers Forum Building at GIFT city, Gandhinagar, Gujarat.