In the first quarter of the fiscal year 2024 (Q1FY24), PSP Projects Limited, a construction and infrastructure development company, displayed strong financial performance and notable developments in various projects. Their revenue from operations experienced a significant year-on-year (YoY) growth of 48%, reaching Rs. 510 crore. Additionally, their outstanding order book as of June 30, 2023, exhibited a 15% YoY growth, totaling Rs. 5,321 crore. The company’s order inflow for the quarter also saw substantial growth, rising by 38% YoY to Rs. 758 crore.
Throughout the quarter, PSP Projects completed five projects, including the Surat Diamond Bourse. The company is actively participating in bids for major projects, such as the redevelopment of Ahmedabad and Delhi railway stations. Furthermore, they are exploring opportunities in the gems and jewellery park in Navi Mumbai.
PSP Projects has maintained its revenue guidance of Rs. 2,600 crore for the entirety of FY24. In terms of financial performance, the company achieved an EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin of 12.7% during Q1FY24. The net profit for the same period stood at Rs. 37 crore.
In line with a commitment to sustainable development, PSP Projects has taken steps to integrate environmental, social, and governance (ESG) considerations into its operations. This includes the establishment of an ESG Steering Committee to guide and oversee the company’s efforts in this direction.
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