PSP Projects Limited has announced the receipt of a new work order valued at Rs 107.10 crore (excluding GST). The order pertains to the civil structure and finishes work for the BIFC – 2 Building, awarded by Brigade (Gujarat) Projects Private Limited. The project is located in GIFT City, Gandhinagar, Gujarat, and falls under the Institutional Category.
According to the company’s regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in line with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, the project is scheduled for completion within 24 months from the commencement date.
The company also clarified that none of its promoters, promoter group, or group companies have any financial or business interest in the entity from which the work order has been received. Hence, this transaction does not fall under the category of related party transactions.
Furthermore, PSP Projects confirmed that this and all other current work orders have been awarded by domestic entities and are classified as domestic work orders.
This disclosure was made for the purpose of informing stakeholders and maintaining transparency as per regulatory requirements.
