Shares of PSP Projects Ltd were trading in the red and 1% lower on 28 February despite the company announcing that it has received work orders for a total of Rs 1764.12 crore for various infrastructure and development projects in Ahmedabad, mostly in the residential and institutional sectors.

In a stock exchange filing, PSP Projects reported that its total order intake for FY25, comprising these projects, was Rs 3,478.58 crore.

It asserted that it had secured the Ahmedabad Airport City Side development project, which was worth Rs 647.22 crore. The project, which is anticipated to be completed in 18 months, was awarded by Adani Airport Holdings Ltd.

With an estimated cost of Rs 411.72 crore, Vitthal Mandir’s Adani Medicity & Research Center construction project should be completed in 24 months.

Adani Realty’s residential project in Shatigram, Ahmedabad, which is worth Rs 139.93 crore, is also expected to be completed in 22 months.

The construction of the Rs 147.47 crore leadership guest house in Shatigram, Ahmedabad, by Adani Enterprises Ltd., is anticipated to be completed in 18 months.

Ahmedabad International Airport Ltd. has been awarded the Rs 223.47 Crore airside and landside construction at Ahmedabad Airport, which is anticipated to be completed as soon as possible.

Finally, Adani Enterprises Ltd. donated a training facility at Shantigram, Ahmedabad, with a budget of Rs 61.07 crore and an 18-month completion timeline.

Furthermore, the company will build the residential Vishram Gruh at the Asarva Civil Hospital Campus, which has been donated by the Sevadaan Arogya Foundation and is worth Rs 51 crore (excluding GST).  The anticipated completion date for this project is 20 months.

Additionally, there were minor work orders and changes totalling Rs 82.24 crore, according to the organization.

In addition, the company placed first (L1) in the Ahmedabad street development project, which cost Rs 120.53 crore (GST excluded).

At 2:22 pm, the shares of PSP Projects were trading 0.93% lower at Rs 624.10 on NSE. 

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