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Latest filing: 2026-08-05 13:27
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16 announcements match the current filters (relevance ≥ 5).
Rs 13,245 Cr Order Book: PSP Projects Reports 65% Revenue Growth in Q1 FY27
PSP Projects delivered a strong Q1 FY27 with revenue rising 65% YoY to Rs 853 Cr and PAT increasing to Rs 18 Cr from Rs 0.37 Cr YoY. The outstanding order book reached a record Rs 13,245 Cr, representing approximately 4.2x the TTM revenue, providing multi-year visibility. Management maintained its FY27 revenue guidance of Rs 4,400-4,500 Cr, implying ~40% growth over FY26. However, EBITDA margins at 6.42% remain lower than historical double-digit levels due to the high share of Adani Group projects which operate on a 6-7% EBITDA cost-plus model.
Confidence: HIGH
What changedThe company has successfully transitioned into a high-volume execution phase following its strategic alliance with Adani Infra, resulting in a doubled order book and 65% revenue growth.
Why it mattersThe massive order book provides high revenue visibility, but the shift toward 'cost-plus' Adani projects has structurally lowered EBITDA margins compared to the company's historical 11-13% range.
Order Book: Rs 13,245 CrOrder Book vs TTM Revenue: 420.6%Q1 Revenue Growth (YoY): 65%FY27 Revenue Guidance: Rs 4,400 - 4,500 CrAdani Group Order Share: 70%EBITDA Margin (Q1): 6.42%
📅 Short termPositive sentiment is expected due to the significant jump in revenue and the massive order backlog, though margin compression remains a point of discussion.
📈 Long termThe company is undergoing a structural scale-up; successful execution of the Rs 13,000+ Cr backlog could significantly re-rate the business if operational efficiencies are maintained.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration with Adani Group (70% of order book)
- Lower margins on cost-plus projects (6-7% EBITDA)
- Working capital pressure from large-scale project execution
Key Highlights
Order book grew 103% YoY to Rs 13,245 Cr as of June 30, 2026, with 70% coming from Adani Group projects.
Revenue for Q1 FY27 increased 65% YoY to Rs 853 Cr despite seasonal labor migration challenges.
Net profit surged to Rs 18 Cr in Q1 FY27 compared to Rs 0.37 Cr in Q1 FY26.
Management guided for FY27 revenue of Rs 4,400-4,500 Cr and expects margins to improve from H2 FY27.
Bid pipeline remains robust at over Rs 6,200 Cr, with 61% being group-related projects.
👀 What to Watch
Watch for the company's ability to scale execution to meet the Rs 4,500 Cr annual revenue target and monitor if EBITDA margins can recover toward the 8-9% range in the second half of the fiscal year.
₹13,245 Cr Order Book: PSP Projects Q1 Revenue grows 65% YoY to ₹853 Cr
PSP Projects reported a strong Q1 FY27 with revenue growing 65% YoY to ₹853.47 Cr and PAT surging to ₹18.22 Cr from a low base of ₹0.37 Cr. The order book has reached a record ₹13,245 Cr, representing a 103% YoY increase and providing over 4x revenue visibility relative to TTM revenue. While EBITDA margins improved to 6.42% from 4.79% YoY, they remain below historical double-digit levels. The strategic alliance with Adani Infra, which is acquiring a significant stake, is a key growth driver with 61% of the current ₹6,200 Cr bid book coming from group projects.
Confidence: HIGH
What changedQ1 FY27 results show a sharp recovery in profitability and a doubling of the order book compared to the previous year, supported by a massive bid book.
Why it mattersThe massive order book (4.2x TTM revenue) provides long-term revenue visibility, while the Adani partnership shifts the company's scale toward larger EPC projects.
Q1 FY27 Revenue: ₹853.47 CrOrder Book: ₹13,245 CrOrder Book vs TTM Revenue: 420.6%Q1 FY27 PAT: ₹18.22 CrEBITDA Margin: 6.42%Bid Book: ₹6,200 Cr
📅 Short termPositive sentiment expected due to high revenue growth and the massive order book visibility providing confidence in near-term execution.
📈 Long termThe Adani partnership and the shift to high-value EPC contracts could structurally elevate the company's revenue base over the next 3-5 years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Margin pressure (6.4% vs historical 11%+)
- High client concentration with Adani Group
- Working capital intensity
Key Highlights
Revenue from operations grew 65% YoY to ₹853.47 Cr in Q1 FY27.
Order book reached ₹13,245 Cr, a 103% increase compared to ₹6,512 Cr in Q1 FY26.
PAT increased significantly to ₹18.22 Cr from ₹0.37 Cr in the previous year's quarter.
Current bid book stands at ₹6,200+ Cr, with 61% focused on group projects.
Deployed workforce of 16,000+ laborers across project sites during the quarter.
👀 What to Watch
Monitor the execution efficiency of the ₹13,245 Cr order book and the recovery of EBITDA margins toward the historical 11-13% range as the Adani partnership scales.
PSP Projects Q1 FY27: Net Profit Jumps to ₹18.34 Cr; Revenue Grows 65% YoY
PSP Projects reported a strong YoY performance for Q1 FY27, with consolidated revenue from operations rising 64.8% to ₹853.47 Cr from ₹517.76 Cr in Q1 FY26. Consolidated net profit saw a significant recovery to ₹18.34 Cr, up from a low base of ₹0.42 Cr in the same period last year. On a sequential basis, revenue declined 23.5% from ₹1,115.24 Cr in Q4 FY26, reflecting typical construction seasonality. Standalone EPS improved sharply to ₹3.82 from ₹0.05 YoY, indicating improved operational efficiency and execution.
Confidence: HIGH
What changedThe company released its unaudited financial results for Q1 FY27, showing a sharp recovery in profitability and robust top-line growth compared to the previous year.
Why it mattersThe results demonstrate a turnaround from the weak performance in FY25, where PAT dropped 55%. The strong revenue growth suggests better labor availability and project execution, which is critical for maintaining its high P/E valuation of 72.9.
Consolidated Revenue (Q1 FY27): ₹853.47 CrConsolidated Net Profit (Q1 FY27): ₹18.34 CrYoY Revenue Growth: 64.8%Standalone EPS: ₹3.82Q1 Revenue vs TTM Revenue: 27.1%
📅 Short termThe stock may react positively to the sharp YoY recovery in profit and strong revenue growth, although the sequential decline in revenue is a standard seasonal factor.
📈 Long termLong-term growth is tied to the Adani Infra partnership and the company's ability to scale its precast concrete business and expand into Maharashtra and Uttar Pradesh.
⚠ Risk flags
- High client concentration with the Adani Group
- Working capital pressure from stuck funds in projects like Surat Diamond Bourse
- Sensitivity to construction material costs
Key Highlights
Consolidated Revenue from Operations increased 64.8% YoY to ₹853.47 Cr.
Consolidated Net Profit rose to ₹18.34 Cr compared to just ₹0.42 Cr in Q1 FY26.
Standalone EPS for the quarter stood at ₹3.82, a significant increase from ₹0.05 YoY.
Construction expenses accounted for ₹434.00 Cr, representing 50.8% of total consolidated income.
Finance costs remained relatively stable at ₹7.54 Cr compared to ₹11.17 Cr in the year-ago quarter.
👀 What to Watch
Monitor the execution of the strategic alliance with Adani Infra, which is expected to provide access to large-scale EPC opportunities. Investors should also watch for improvements in operating margins, which have historically been in the 11-13% range but were lower in recent periods.
PSP Projects Approves Material Related Party Transactions with Adani Group Entities at 18th AGM
PSP Projects held its 18th AGM on June 27, 2026, where shareholders approved 14 resolutions, including the adoption of FY26 financial statements. A critical outcome was the approval of material Related Party Transactions (RPTs) for FY27 with eight Adani Group entities, including ACC Limited and Adani Power. This follows the strategic alliance where Adani Infra is acquiring a 30.07% to 43.07% stake in the company. Shareholders also approved the appointment of M/s. G. K. Choksi & Co. as Joint Statutory Auditors for a five-year term.
Confidence: HIGH
What changedShareholders have formally authorized the company to engage in material transactions with the Adani Group ecosystem, following the recent change in promoter-level shareholding.
Why it mattersThis provides the necessary regulatory clearance for PSP Projects to execute large-scale EPC opportunities within the Adani Group, which is expected to be the primary driver for future revenue growth.
Adani Infra Stake Range: 30.07% to 43.07%TTM Revenue: Rs 3149 CrTotal Resolutions Passed: 14AGM Date: June 27, 2026
📅 Short termNeutral to slightly positive as the market expected these procedural approvals to support the previously announced Adani partnership.
📈 Long termStructurally significant as it formalizes the company's transition into a key construction partner for the Adani Group, potentially re-rating the order book scale.
⚠ Risk flags
- High related-party transaction concentration
- Potential for margin pressure if RPT pricing is not favorable
Key Highlights
Shareholders approved material Related Party Transactions with 8 Adani Group entities for the 2026-27 financial year
Appointment of M/s. G. K. Choksi & Co. as Joint Statutory Auditors for a first term of 5 consecutive years
Approval of increased remuneration for Related Party Ms. Pooja Patel, CEO of the company
Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026
The meeting was attended by 40 members and all 14 resolutions were passed with the requisite majority
👀 What to Watch
Monitor upcoming quarterly results to quantify the actual order inflow from the approved Adani Group RPTs, which are central to the company's 25-30% growth target.
PSP Projects 18th AGM on June 27: Proposes 20% CEO Pay Hike and Adani Group RPTs
PSP Projects has convened its 18th AGM for June 27, 2026, to approve FY26 financial statements and key management changes. The board has proposed increasing CEO Ms. Pooja Patel's remuneration by 20% to ₹3.60 Crore per annum. Crucially, the company seeks approval for material related party transactions with Adani Estate Management Private Limited for FY 2026-27. Other items include the appointment of M/s. G. K. Choksi & Co. as Joint Statutory Auditors for a five-year tenure.
Key Highlights
18th Annual General Meeting scheduled for June 27, 2026, at 11:00 AM IST.
Proposed salary revision for CEO Ms. Pooja Patel from ₹3.00 Crore to ₹3.60 Crore per annum.
Approval sought for material related party transactions with Adani Estate Management Private Limited.
Appointment of M/s. G. K. Choksi & Co. as Joint Statutory Auditors for a 5-year term (2026-2031).
Remote e-voting window opens June 24 and closes June 26, 2026.
👀 What to Watch
Review the terms of the related party transactions with Adani Estate Management to ensure they are at arm's length. Shareholders should exercise their voting rights during the June 24-26 window regarding the CEO's 20% pay hike.
PSP Projects Q4FY26 Revenue Jumps 66% to ₹1,115 Cr; Order Book Hits Record ₹13,447 Cr
PSP Projects reported a robust Q4FY26 with revenue growing 66% YoY to ₹1,115 crore and PAT surging 244% to ₹21 crore. The company achieved its highest-ever order inflow of ₹10,925 crore during FY26, taking the total order book to ₹13,447 crore, which provides strong multi-year revenue visibility. While full-year EBITDA margins moderated to 6% due to a ₹29 crore provision for the Kashi project, management has guided for a revenue target of ₹4,500 crore in FY27 with improving margins. Notably, 85% of the year's order inflows came from the Adani Group, indicating a significant strategic shift in the client mix.
Key Highlights
Q4FY26 revenue increased 66% YoY to ₹1,115 crore, while PAT grew 244% YoY to ₹21 crore.
Order book reached a record ₹13,447 crore as of March 31, 2026, an 85% YoY growth.
FY26 order inflows stood at ₹10,925 crore, with 85% of these orders originating from the Adani Group.
Company recognized a ₹29 crore provision for expected credit loss on unbilled revenue from the Kashi project.
Management maintains a revenue guidance of ₹4,500 crore for FY27 with expected EBITDA margins of 8% or higher.
👀 What to Watch
Investors should focus on the company's ability to execute the massive ₹13,447 crore order book and the potential for margin recovery as one-off provisions subside. While the high concentration of Adani Group orders provides scale, monitoring project diversification and execution timelines will be critical for long-term valuation.
PSP Projects FY26 Revenue Up 25% to ₹3,149 Cr; Order Book Surges 85% to ₹13,447 Cr
PSP Projects reported a strong 25% YoY revenue growth in FY26, reaching ₹3,149 crore, driven by a record Q4 performance where revenue jumped 66%. The order book witnessed a massive 85% surge to ₹13,447 crore, significantly bolstered by the strategic partnership with Adani Infra, which now holds a 34.41% stake. While full-year PAT slightly declined by 2% to ₹55 crore due to margin compression (EBITDA margin at 6.0%), the record order inflow of ₹10,925 crore provides high revenue visibility. The company is pivoting towards private and group projects, which now constitute 67% of the total order book.
Key Highlights
Consolidated FY26 revenue grew 25% YoY to ₹3,149 crore, with Q4FY26 revenue jumping 66% to ₹1,115 crore.
Order book reached a record ₹13,447 crore, an 85% YoY increase, with 67% comprising within-group projects.
Adani Infra became a promoter with a 34.41% stake, providing access to a projected $100 billion capex pipeline.
Full-year EBITDA stood at ₹189 crore (up 5% YoY), though margins compressed from 7.1% to 6.0%.
Successfully completed an 18-floor precast project in an exceptional timeframe of 148 days.
👀 What to Watch
Investors should monitor the execution of the massive ₹13,447 crore order book and the synergy benefits from the Adani partnership. The stock offers strong growth visibility, though margin recovery remains a key metric to watch in coming quarters.
PSP Projects FY26 Results: Subsidiaries Contribute ₹171 Cr Revenue and ₹7.13 Cr Profit
PSP Projects Limited has approved its audited financial results for the fiscal year ended March 31, 2026. The consolidated performance includes a notable contribution from its two subsidiaries, which reported a total revenue of ₹170.99 crore and a net profit of ₹7.13 crore for the full year. The board has recommended the appointment of G. K. Choksi & Co. as joint statutory auditors for a five-year term and scheduled the 18th Annual General Meeting for June 27, 2026. The auditors have issued an unmodified opinion on the financial statements, suggesting transparency in reporting.
Key Highlights
Subsidiaries generated total revenue of ₹17,099.53 lakh for the full financial year 2025-26.
Net profit after tax from subsidiary operations stood at ₹712.60 lakh for FY26.
Total assets of the company's subsidiaries were valued at ₹12,419.34 lakh as of March 31, 2026.
Board recommended the appointment of M/s. G. K. Choksi & Co. as Joint Statutory Auditors for a 5-year tenure.
The 18th Annual General Meeting is scheduled to be held on June 27, 2026, via video conferencing.
👀 What to Watch
Investors should examine the full consolidated financial statement to evaluate the parent company's growth relative to its subsidiaries. The unmodified audit report is a positive sign of corporate governance and financial integrity.
PSP Projects Q3 Revenue Up 24% to ₹771 Cr; Order Book Hits Record ₹9,178 Cr
PSP Projects reported its highest-ever quarterly revenue of ₹771 crore, marking a 24% YoY growth driven by robust project execution. The order book reached a record ₹9,178 crore, significantly bolstered by Adani Group projects which now constitute 59% of the total. While EBITDA margins were reported at 6.73%, they were impacted by a one-time ₹8 crore provision for the new labor code; normalized margins stand at approximately 7.7%. Management has maintained an ambitious FY26 revenue guidance of ₹3,100-3,200 crore and expects FY27 revenue to reach ₹4,000-4,500 crore.
Key Highlights
Record quarterly revenue of ₹771 Cr (+24% YoY) and PAT of ₹16 Cr (+159% YoY).
Order book grew 43% YoY to ₹9,178 Cr, providing strong revenue visibility for the next 2 years.
Management maintains FY26 revenue guidance of ₹3,100-3,200 Cr, implying a heavy Q4 execution target of ₹1,100-1,200 Cr.
Received a favorable arbitral award of ₹61.44 Cr plus 9% interest in the PSP vs. Bhiwandi (BMCMC) matter.
EBITDA margins were impacted by a one-time ₹8 Cr labor code provision; normalized margins are expected to return to 8-9%.
👀 What to Watch
Investors should monitor the company's ability to meet its steep Q4 execution target and the successful transition of its massive order book into higher-margin revenue. The stock remains a strong play on industrial and institutional construction with significant backing from the Adani Group.
PSP Projects Q3 PAT Jumps 159% to ₹15.7 Cr; Order Book Hits Record ₹9,178 Cr
PSP Projects reported its highest-ever quarterly revenue of ₹771 crore in Q3FY26, a 24% YoY increase driven by robust project execution. While the nine-month PAT remains down 40% YoY due to earlier weakness, the Q3 performance shows a sharp recovery with PAT surging 159% YoY. The company's order book has reached a record ₹9,178 crore, supported by a 173% YoY increase in nine-month order inflows. A pivotal development is the entry of Adani Infra as a promoter with a 34.41% stake, positioning PSP to benefit from the Adani Group's $100 billion capex pipeline.
Key Highlights
Achieved best-ever quarterly revenue of ₹771.22 crore, up 24% YoY and 11% QoQ.
Order book reached a record ₹9,178 crore as of Dec 31, 2025, representing 43% YoY growth.
Order inflows for 9MFY26 stood at ₹4,994 crore, a massive 173% increase over the previous year.
EBITDA margins improved to 6.73% in Q3FY26 from 5.67% in Q3FY25.
Strategic partnership with Adani Infra (34.41% stake) expected to drive significant future order flow from the group's infrastructure projects.
👀 What to Watch
Investors should view the strong quarterly recovery and the record order book as positive indicators of growth. The strategic alignment with the Adani Group provides high revenue visibility, though execution efficiency and margin maintenance remain key metrics to watch.
PSP Projects Q3 FY26 Net Profit Surges 253% YoY to ₹17.83 Cr; Revenue Up 29%
PSP Projects reported a strong performance for Q3 FY26, with consolidated revenue from operations growing 29% YoY to ₹812.79 crore. Net profit saw a significant jump of over 250% YoY, reaching ₹17.83 crore, compared to ₹5.05 crore in the same quarter last year. While the quarterly performance is robust, the nine-month net profit of ₹34.42 crore remains below the ₹49.95 crore reported in the previous year's corresponding period. The company has also integrated the financial implications of the new Labour Codes effective from November 2025.
Key Highlights
Q3 FY26 Revenue from Operations increased 29% YoY to ₹81,279.36 lakhs.
Consolidated Net Profit for Q3 jumped to ₹1,783.38 lakhs from ₹505.31 lakhs in Q3 FY25.
9M FY26 Revenue grew to ₹2,03,342.16 lakhs, representing a 10.5% growth over 9M FY25.
Quarterly Basic EPS rose to ₹4.53 compared to ₹1.28 in the year-ago period.
Profit Before Tax for Q3 FY26 stood at ₹2,389.57 lakhs, a significant increase from ₹1,032.35 lakhs YoY.
👀 What to Watch
The sharp recovery in quarterly earnings and margins is a positive signal for the construction firm. Investors should hold and monitor if this execution momentum continues into Q4 to offset the weaker first half of the fiscal year.
PSP Projects Q3 PAT Surges 253% YoY to ₹17.8 Cr; Revenue Up 29%
PSP Projects reported a strong recovery in Q3 FY26, with consolidated revenue growing 29% YoY to ₹812.8 crore. Net profit saw a massive jump of 253% YoY to ₹17.83 crore, compared to a low base of ₹5.05 crore in the previous year's quarter. While quarterly performance is robust, the nine-month PAT of ₹34.4 crore still lags behind the previous year's ₹50.0 crore due to higher material costs earlier in the fiscal. The company also noted the implementation of new Labour Codes effective from November 2025.
Key Highlights
Consolidated Revenue from Operations grew 29% YoY to ₹812.8 crore in Q3 FY26.
Net Profit (PAT) jumped significantly to ₹17.83 crore from ₹5.05 crore in Q3 FY25.
Earnings Per Share (EPS) increased to ₹4.53 for the quarter, up from ₹1.28 YoY.
Nine-month PAT stands at ₹34.42 crore, a 31% decline compared to ₹49.95 crore in the previous year.
Construction expenses for the quarter were ₹405.2 crore, while material costs stood at ₹310.6 crore.
👀 What to Watch
The sharp recovery in quarterly profits suggests operational efficiency is returning after a weak start to the year. Investors should monitor the order book execution and margin sustainability to see if this recovery trend continues.
PSP Projects Shareholders Approve G. K. Choksi & Co. as Joint Statutory Auditors with 99.13% Majority
PSP Projects Limited has successfully passed an ordinary resolution via postal ballot to appoint M/S. G. K. Choksi & Co. as Joint Statutory Auditors. This appointment fills the casual vacancy created by the resignation of M/S. Prakash B. Sheth & Co. The resolution was approved with an overwhelming 99.13% majority of the total votes polled. While promoters supported the move 100%, about 17.55% of voting public institutions opposed the resolution, though it did not affect the final outcome.
Key Highlights
Resolution passed with 99.13% majority representing 28,487,326 votes in favor.
M/S. G. K. Choksi & Co. appointed as Joint Statutory Auditors until the 2026 AGM.
Total voter turnout was 72.49% of the company's paid-up equity capital.
Public institutional investors cast 248,815 votes (17.55% of their polled votes) against the resolution.
The appointment follows the resignation of previous auditor M/S. Prakash B. Sheth & Co.
👀 What to Watch
This is a routine governance update to fill an auditor vacancy; investors should continue to monitor the company's financial reporting quality under the new auditors. No immediate action is required as the transition is now formalized.
PSP Projects Wins ₹61.44 Crore Arbitration Award Against BNCMC
PSP Projects Limited has received a favorable arbitration award in its dispute with the Bhiwandi Nizampur City Municipal Corporation (BNCMC). The Arbitral Tribunal has directed BNCMC to pay the company a principal amount of ₹61.44 Crores plus accrued interest. The payment must be made within 60 days, failing which a penal interest of 11% per annum will be applicable on the total outstanding amount. This successful conclusion of litigation is expected to strengthen the company's cash flow and balance sheet.
Key Highlights
Arbitral Tribunal awarded a principal amount of ₹61.44 Crores to PSP Projects Limited.
BNCMC is mandated to pay the principal plus accrued interest within a 60-day window.
A future interest rate of 11% p.a. will be charged on the total awarded amount if payment is delayed.
The award concludes arbitration proceedings that have been ongoing since February 2023.
Management indicates no adverse impact on financial position as the award is entirely in the company's favor.
👀 What to Watch
Investors should view this as a positive liquidity event that enhances the company's financial health. Monitor the timely realization of these funds from the municipal corporation over the next two months.
PSP Projects Faces Credit Rating Downgrade for Rs 1,547 Crore Bank Facilities
CARE Ratings has downgraded the short-term credit ratings of PSP Projects Limited for bank facilities totaling Rs 1,547 crore. While the long-term rating of CARE A+; Stable was reaffirmed for Rs 155 crore, the short-term rating for Rs 1,300 crore and Rs 92 crore facilities dropped from CARE A1+ to CARE A1. This downgrade indicates a perceived shift in the company's short-term credit profile or liquidity position. Investors should monitor the impact on future borrowing costs and interest expenses.
Key Highlights
Short-term credit rating downgraded from CARE A1+ to CARE A1 for facilities worth Rs 1,392 crore
Long-term rating for Rs 155 crore bank facilities reaffirmed at CARE A+; Stable
Total bank facilities covered under the rating revision amount to Rs 1,547 crore
The long-term portion of the Rs 1,300 crore facility remains at CARE A+; Stable
👀 What to Watch
Investors should be cautious as a downgrade in short-term ratings can lead to higher interest rates on working capital. Monitor the company's upcoming quarterly cash flow statements to assess liquidity health.
PSP Projects Receives GST Order with ₹14.43 Lakh Penalty
PSP Projects Limited has received an order from the Office of State Tax Officer, Ahmedabad, regarding GST non-compliance. The order, issued under section 74 of the SGST/CGST Act, 2017, imposes a penalty of ₹14,43,100 for the financial year 2018-2019. The alleged violation pertains to claiming ineligible Input Tax Credit from cancelled, non-genuine, and defaulting taxpayers. The company states that there is no material impact on its financials or operations and intends to file an appeal against the order.
Key Highlights
Penalty of ₹14,43,100 imposed under SGST/CGST Act
Order received under section 74 of SGST/CGST Act, 2017
Violation relates to Input Tax Credit claims for F.Y. 2018-2019
Company to file an appeal with the appellate authority
👀 What to Watch
Investors should monitor the progress of the appeal filed by PSP Projects. While the company claims no material impact, a sustained trend of regulatory issues could negatively affect investor sentiment.
