PSP Projects Ltd

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.The company was incorporated as a private limited company on August 26, 2008 in the name of PSP Projects Private Limited. In 2009, PSP Projects acquired the business of BPC Projects. The company was converted into a public limited company on 30th June 2015 and consequently, the name of the company was changed to PSP Projects Ltd. 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.The company came out with an initial public offer (IPO) during the period from 17 May 2017 to 19 May 2017. The IPO was a combination of fresh issue of 72 lakh shares and Offer for Sale of 28.80 lakh shares by promoter and promoter group shareholders. The stock debuted at Rs 199 on BSE on 29 May 2017, a discount of 5.23% compared with the IPO price of Rs 210 per share. 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.