PSP Projects Ltd

PSP Projects Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

PSP Projects Ltd

₹ 827 0.95%
06 May - close price
pspprojects.com BSE: 540544 NSE: PSPPROJECT
About

PSP Projects Limited is a construction company incorporated in August 2008 offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India. The principal promoter, Mr. Prahalad S. Patel has over three decades of experience in the construction industry. [1]
It is also engaged in the real estate development of two mid-scale projects in the USA through its subsidiaries [2]

Key Points

Fast Growing construction company
In Oct,23, the company was awarded the “Fastest Growing Construction Company in India” (below 2000 Cr. turnover category) at the 21st Construction World Global Awards, 2023. [1]

As of Q3FY24, It has completed 219 Projects and 49 projects are under execution.
In December 2021, the co. commissioned a Precast facility in Gujarat to provide Sustainable Building Solutions and Technological Upgradation. [2]

Website BSE NSE
  • Market Cap ₹ 3,274 Cr.
  • Current Price ₹ 827
  • High / Low ₹ 1,031 / 569
  • Stock P/E 59.0
  • Book Value ₹ 319
  • Dividend Yield 0.00 %
  • ROCE 7.79 %
  • ROE 4.49 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company's median sales growth is 27.3% of last 10 years
  • Company's working capital requirements have reduced from 40.3 days to 22.8 days

Cons

  • Stock is trading at 2.59 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 7.42% over last 3 years.
  • Debtor days have increased from 78.1 to 108 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Construction Construction Civil Construction

Part of BSE Industrials BSE 1000

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
730 514 620 705 668 623 586 630 673 518 703 813 1,115
649 447 547 635 615 549 548 595 641 493 653 758 1,055
Operating Profit 81 66 72 70 53 74 38 36 32 25 50 55 60
OPM % 11% 13% 12% 10% 8% 12% 6% 6% 5% 5% 7% 7% 5%
7 6 6 6 6 4 5 4 5 4 4 4 5
Interest 9 9 12 15 14 13 11 10 10 11 12 11 11
Depreciation 12 12 14 19 20 17 18 19 19 17 20 24 26
Profit before tax 66 51 52 42 25 48 14 10 8 1 22 24 27
Tax % 26% 26% 26% 26% 35% 28% 25% 36% 20% 41% 28% 25% 23%
46 38 39 31 16 35 10 5 6 0 16 18 21
EPS in Rs 12.78 10.51 10.70 8.63 4.31 8.75 2.58 1.27 1.63 0.11 4.08 4.50 5.32
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
472 445 752 1,050 1,499 1,241 1,748 1,938 2,506 2,512 3,149
438 378 646 901 1,308 1,106 1,490 1,708 2,245 2,333 2,960
Operating Profit 35 67 106 149 191 135 258 230 261 179 189
OPM % 7% 15% 14% 14% 13% 11% 15% 12% 10% 7% 6%
10 13 18 22 24 17 22 25 24 17 17
Interest 3 8 9 10 15 15 26 32 51 44 45
Depreciation 7 8 11 24 27 26 32 40 65 73 87
Profit before tax 35 65 102 137 173 111 222 183 169 80 74
Tax % 37% 36% 36% 35% 26% 25% 25% 26% 27% 27% 25%
23 42 66 89 128 81 167 132 123 56 56
EPS in Rs 71.34 14.41 18.20 24.84 35.69 22.65 46.29 36.65 34.16 14.23 14.01
Dividend Payout % 21% 17% 27% 20% 14% 18% 11% 7% 0% 0% 0%
Compounded Sales Growth
10 Years: 21%
5 Years: 20%
3 Years: 18%
TTM: 25%
Compounded Profit Growth
10 Years: 9%
5 Years: -7%
3 Years: -25%
TTM: -1%
Stock Price CAGR
10 Years: %
5 Years: 15%
3 Years: 4%
1 Year: 30%
Return on Equity
10 Years: 16%
5 Years: 12%
3 Years: 7%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 3 29 36 36 36 36 36 36 36 40 40
Reserves 61 76 265 333 418 500 651 765 879 1,169 1,224
47 75 30 31 80 84 100 145 455 272 330
142 148 268 335 429 372 484 819 667 873 1,495
Total Liabilities 253 328 600 735 963 991 1,270 1,765 2,037 2,353 3,089
54 52 78 103 108 116 207 240 322 307 413
CWIP 0 0 2 0 0 42 0 18 3 3 1
Investments 14 18 16 1 1 1 1 1 1 1 1
185 258 504 631 854 833 1,062 1,507 1,711 2,042 2,674
Total Assets 253 328 600 735 963 991 1,270 1,765 2,037 2,353 3,089

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
40 -8 70 21 16 73 147 45 -224 53 323
-45 -4 -122 -23 -8 5 -164 -51 -26 -106 -152
6 22 81 -26 -2 -4 -11 12 269 20 10
Net Cash Flow 1 11 29 -27 6 74 -28 6 19 -33 180
Free Cash Flow 13 -14 22 -17 -18 -6 72 -34 -365 -15 130
CFO/OP 154% 10% 106% 46% 37% 72% 82% 44% -68% 59% 197%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 16 48 60 51 57 67 65 82 50 77 108
Inventory Days 17 8 43 66 66 82 60 96 147 145 46
Days Payable 145 174 160 140 148 237 189 231 194 186 62
Cash Conversion Cycle -112 -118 -58 -22 -25 -88 -64 -53 3 35 92
Working Capital Days -100 -112 -55 -16 -0 3 13 22 33 65 23
ROCE % 50% 44% 40% 40% 22% 35% 25% 19% 9% 8%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
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Collection Period
Days
Number of Completed Projects
Number
Number of Ongoing Projects
Number
Working Capital Cycle
Days
Geographic Concentration - Gujarat
%
Order Inflow
INR Crore
Gross Current Asset (GCA) Days
Days

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
66.22% 66.22% 66.22% 66.22% 60.14% 60.14% 60.14% 60.14% 60.14% 68.82% 68.82% 68.82%
4.20% 4.23% 3.30% 2.31% 7.02% 8.58% 7.63% 7.82% 3.11% 2.58% 2.49% 1.91%
5.33% 5.35% 5.01% 4.53% 10.45% 10.94% 8.09% 7.99% 2.34% 2.10% 2.18% 2.18%
24.26% 24.20% 25.48% 26.94% 22.39% 20.35% 24.14% 24.05% 34.42% 26.50% 26.51% 27.08%
No. of Shareholders 36,91142,34648,54145,77241,86140,83943,24441,19737,29433,52235,63634,179

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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