PSP Projects, an Indian construction company, has announced the acquisition of work orders valued at Rs17.64bn ($200m), excluding taxes, for multiple infrastructure and construction projects in Ahmedabad, Gujarat, India.
The first of these contracts is the city-side development project at Ahmedabad Airport, awarded by Adani Airport Holdings, a subsidiary of Adani Enterprises, the flagship company of the Adani Group, with a value of Rs6.47bn. The project is expected to be completed within 18 months.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Adani Group, based in Ahmedabad, is a diversified organisation in India with ten publicly traded companies. It has developed a transport and utility infrastructure portfolio with a presence across the country.
PSP Projects has also secured the Adani Medicity & Research Center construction project from Vitthal Mandir, valued at Rs4.11bn, with a completion timeline of 24 months.
Additional projects include a residential project at Shatigram, Ahmedabad, from Adani Realty, worth Rs1.39bn, scheduled for completion in 22 months.
The company will also design and construct a leadership guest house at Shatigram for Adani Enterprises, valued at Rs1.47bn, with an 18-month completion period.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAnother contract from Adani Enterprises is for a training centre at Shantigram, valued at Rs610.7m, with an 18-month deadline.
Additionally, PSP Projects has been tasked with the Airside and Landside Development at Ahmedabad Airport by Ahmedabad International Airport, a project worth Rs2.23bn, set for completion in 12 months.
The company will also develop the Vishram Gruh at Asarva Civil Hospital Campus for Sevadaan Arogya Foundation, a private non-profit company, worth Rs510m (excluding goods and services tax (GST)), in the residential category, to be completed within 20 months.
Furthermore, PSP Projects reported small-value work orders and amendments totalling Rs822.4m.
Including these new projects, the company’s total order inflow for financial year 2024-25 (FY24-25) stands at Rs34.78bn, as per the stock exchange filing.
PSP Projects was also the lowest bidder for the development of a street in Ahmedabad, worth Rs1.20bn (excluding GST).
In March 2024, PSP Projects secured two construction work orders in Gujarat, totalling approximately Rs3.86bn.
