PSP Project gains on bagging LoAs for contracts in Gujarat.

PSP Projects rose 1.68% to Rs. 451.45 after the company secured a letter of intent (LoI) for projects worth Rs. 132.57 crore towards industrial and precast segment from different clients in Gujarat.

The company reported a consolidated net profit of Rs 24.81 crore in Q1 FY22 as against a net loss of Rs. 2.53 crore in Q1 FY21. Net sales during the quarter surged 196.9% Y-o-Y to Rs. 317.36 crore during the quarter.

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in the country.

BS