PSP Projects secures prestigious GBRC building contract in Gujarat
PSP Projects Limited has announced a significant achievement, winning a work order worth INR 101.67 Crores (excluding GST) for the construction and maintenance of the main building for the Gujarat Biotechnology Research Centre (GBRC) at GIFT City Gandhinagar, Gujarat. This contract, categorized under government projects, represents a substantial addition to the company’s portfolio in the infrastructure sector.
Details of the GBRC Contract and Project Timeline
The contract awarded to PSP Projects is a lumpsum contract with the nature of a turnkey project. The GBRC project entails completing the construction within 18 months, followed by an operation and maintenance phase extending over four years. This project underlines PSP Projects’ capabilities in handling large-scale government infrastructure projects with efficiency and expertise.
Major Win for PSP Projects with New Government Contract and Sabarmati Riverfront Development
Impressive Order Inflow for Financial Year 2023-24
With the receipt of the GBRC project order, PSP Projects’ total order inflow for the financial year 2023-24 has reached a remarkable INR 1060.30 Crores. This figure showcases the company’s growing presence and success in the competitive construction industry, particularly in government projects.
PSP Projects Emerges as Lowest Bidder for Sabarmati Riverfront Project
Adding to its list of accomplishments, PSP Projects has also emerged as the Lowest Bidder (L1 Bidder) for the “Development of Sabarmati Riverfront” project under the Ahmedabad Municipal Corporation, valued at INR 409.93 Crores (Excluding GST). This project in Ahmedabad, Gujarat, is another testament to PSP Projects’ expertise and recognition in the field of urban infrastructure development.
Compliance with Regulatory Standards
PSP Projects has confirmed that none of the promoters/promoter group/group companies have any interest in the entities from whom these orders are received. The award of these orders falls outside the scope of related party transactions, adhering to the highest standards of transparency and corporate governance.