PSP Projects wins Rs 1 billion GIFT City contract

23 Apr 2025 CW Team

PSP Projects has secured a Rs 1 billion order for civil and finishing work on the BIFC-2 building at GIFT City, Gandhinagar. The contract was awarded by Brigade (Gujarat) Projects and is scheduled for completion within 24 months.

The company clarified that this is not a related-party transaction, as neither promoters nor their associates have any stake in the awarding entity.

Known for its diversified construction portfolio, PSP Projects operates across industrial, institutional, government, and residential sectors.

Financially, the company reported a sharp 83.8 per cent drop in consolidated net profit to Rs 50 million in Q3 FY25, while revenue declined 10.6 per cent year-on-year to Rs 6.30 billion.

Despite the earnings slump, shares of PSP Projects inched up 0.13 per cent to Rs 636.95 on the BSE.

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