PSP Projects has emerged as lowest bidder for a government project for development of tourist/pilgrimage destination in Gujarat with bid value worth Rs 345.30 crore (excluding GST).
As on June 30, 2022, PSP Projects' order book was healthy at Rs 4,613 crore (2.4x book to TTM revenues). Additionally, the company has secured orders worth ~Rs 1,300 crore post Q1FY23, strengthening its order book further. Overall, the company has guided for inflows of Rs 2,500+ crore in FY23E (vs. Rs 1,802 crore of projects secured in FY22). With better opportunities coming from both - government and private clients, its expansion into different states, and improved eligibility of higher-ticket size projects, the company is likely to achieve the targeted inflows.
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