Hi Krishna,
Please, try this version:
( PROJ-PSPID :1-3: = '007' ) AND ( PROJ-PSPID :3-10: >= '70000000' ) AND ( PROJ-PSPID :3-10: <= '79999999' )
Also you can add a check with AND that PROJ-PSPID :11-24: = '' (or similar) to make sure there is nothing after 10th character.
Regards,
Paulo