PSP Projects jumps on new orders

PSP Projects is showing a lot of activity today, with the stock price going up 6% to Rs.469.95. Its UC is at 20% at Rs.532.50 and 52-week high is at Rs.596.

Yesterday, after market hours, the company announced that it has received LOA/Work orders worth Rs.606 crore for industrial, institutional, government and residential projects from various clients.

This includes orders worth Rs.328 crore received from Indian Institute of Management, Ahmedabad for Construction and Implementation Work of its Faculty Houses, Student Dormitories and Staff Houses New Academic Block, JSW School of Public Policy and Sports Complex.

The balance orders are from  MRF Limited, Gujarat Cancer Society, Cadila Healthcare Limited, Torrent Pharmaceuticals ,CEPT University amongst others. 

With the receipt of these new orders,  the total work orders received during the financial year 2018-19 (till date) on standalone basis amounts to Rs.1442.47 crore.

For Q3FY19 the company booked revenue from operations of Rs.261 crore, up 53% (YoY). EBITDA for Q3 is Rs.37 crore, up 38% and PAT came in at Rs.21 crore, up 42%. The EBITDA margin is 14.05% and PAT margin is 8.08% for the quarter.