| Management target | Revenue 25.0% FY27 |
|---|
| Revenue growth | Revenue +58% YoY (₹1,113 Cr); H1 +61%; execution-led, no one-time items cited. |
|---|---|
| Margins | EBITDA margin 6.2% vs 7.1% YoY; H1 6.3% vs 6.1%; target ~7%. |
| Order book | ₹12,872 Cr, ~3.3x H1-annualised revenue; 72% Adani group. |
| Demand visibility | Order book ₹12,872 Cr (+30%); bid pipeline ₹7,800+ Cr; demand described as visible. |
| Management confidence | Upbeat on growth; hedges margin and revenue targets, avoids firm commitments. |
Growth
Revenue +58% YoY to ₹1,113 Cr; EBITDA +38% to ₹69 Cr, but margin down ~89bps as employee costs rose ~52%.
Outlook
Guides 25–30% annual revenue growth; ~7% EBITDA margin in FY28; FY27 order inflow ₹5,000+ Cr.
Risks
Margin target shifting: ~7% now vs 7.5–8% cited earlier. Unbilled revenue ₹632 Cr. ~72% of order book from Adani group.
Last quarter's promises, checked
Delivered
- Adani 70–75% of order book → 72% (= BEAT)
Partly delivered
- FY27 revenue ₹4,400–4,500 Cr (>25% growth) → H1 revenue +61% YoY; FY not closed (= PARTIAL)
- FY27 order inflow ₹4,000–5,000 Cr → Q2 inflow ₹675 Cr; guide now ₹5,000+ Cr (= PARTIAL)
Missed
- EBITDA margin 7–8% (H2/FY27) → H1 6.3%, Q2 6.2% (= MISS)
- Net debt-free in 2–3 qtrs, zero finance cost → borrowings ~₹268 Cr vs Jun-26 standalone ₹255 Cr (38+217) (= MISS)
- UP medical unbilled ₹60 Cr + receivables ₹40 Cr to clear by mid-Sep → total unbilled ₹632 Cr vs standalone ₹473 Cr at Jun-26, delayed govt certification (= MISS)
Earnings Call Transcript filed with NSE, NSE: PSPPROJECT. Summary written with AI assistance from the document.
PSP Projects Ltd: key numbers
- Share price
- ₹756.35
- Market cap
- ₹2,998 Cr
- Revenue (annual)
- ₹3,149 Cr
- Net profit (annual)
- ₹55.52 Cr
- P/E (TTM)
- 34.3×Sector 32.7×
- Promoter holding
- 68.82%+0.00% QoQ
- FII holding
- 2.29%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from PSP Projects Ltd
All →PSP Projects Investor Presentation: Key Takeaways
Q2FY27 revenue ₹1,113 Cr (+58% YoY), PAT ₹30 Cr (+87%), EBITDA margin 6.21% (vs 7.10%). Record revenue; order book ₹12,872 Cr; precast capacity expansion underway.
PSP Projects Other Announcement
PSP Projects approved shifting its registered office within Ahmedabad, Gujarat. The move is administrative with no financial or operational impact.
PSP Projects Q2 FY27 Results: Net Profit ₹30.2 Cr, Up 86.4% YoY
PSP Projects Ltd reported revenue from operations of ₹1,113 Cr (+58.4% YoY) and net profit of ₹30.2 Cr (+86.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹30.2 Cr · +86.4% YoY
PSP Projects Board Meeting Date
PSP Projects scheduled its board meeting for November 2, 2026, to approve Q1 and H1 FY27 results. Trading window is closed from October 1, 2026.
PSP Projects Other Announcement
PSP Projects Limited filed its quarterly shareholding pattern for the period ended September 30, 2026, as per SEBI regulations. This disclosure details the company's equity ownership structure.
PSP Projects Management Change
PSP Projects disclosed the cessation of Mr. Shashikant Sharma as General Manager - MEP. His resignation as Senior Management Personnel took effect from 15 September 2026.