Ahmedabad: Ahmedabad-based construction firm PSP Projects Ltd has emerged as the lowest bidder for a project valued at ₹158.61 crore by the Gujarat government, the company announced today.

In a filing to the stock exchanges, the company mentioned, “We are pleased to inform that the company has emerged as Lowest (L1) Bidder in the Project “Civil, MEP & Finishing work for Development of Street” for Gandhinagar Municipal Corporation at Gandhinagar, Gujarat worth INR 158.61 Crores (excl. GST).”

“With receipt of above, the total value of projects for which we stand as Lowest Bidder amounts to INR 1222.47 Crores for the financial year 2023-24, which is in addition to the work orders received till date amounting to INR 1060.30 Crores for the financial year 2023-24,” the statement added.

In the previous week, PSP Projects reported securing the lowest bid for three significant projects in Gujarat, including a dam project valued at approximately ₹400 crore, a ₹100 crore venture in Gandhinagar, and another project worth around ₹300 crore in Ahmedabad.

PSP Projects’ CMD and CEO, PS Patel, expressed confidence that all three projects will be completed within 24 to 30 months, with expected margins around 11% to 12%. DeshGujarat