Shares of PSP Projects advanced 12 per cent to Rs 499 in intra-day trade on the BSE on Friday after the company said it has received an additional work order worth Rs 236 crore (including GST) for an institutional project at Gujarat. “Further, the company has been ranked the L1 bidder (Lowest Bidder) by a regulatory authority for projects totalling to Rs 420.89 crore (including GST) for construction of medical colleges at multiple locations at Uttar Pradesh,” PSP Projects, on Thursday, said in exchange filing. On Wednesday, in a separate regulatory filing, the company announced that it has received Letter of Intent (LOI) for a project worth Rs 588.62 crore (including GST) from a private developer at Ahmedabad, Gujarat.