PSP Projects Limited — PPTs, 07-02-2025: Investor Presentation

**Financial Highlights:** PSP Projects reported a revenue from operations of ₹1,813 crore for the first nine months of FY25, showing no year-over-year growth. In Q3 FY25, revenue stood at ₹623 crore, reflecting a decline of 11% compared to Q3 FY24. EBITDA for the nine-month period dropped to ₹148 crore, down 30% year-on-year, with a margin of 8%. Profit After Tax (PAT) also saw a significant decline, reaching ₹51 crore in FY25, an 81% dip from the previous year.

**Strategic Initiatives and Growth Drivers:** PSP continues to focus on project execution with an outstanding order book of ₹6,417 crore as of December 31, 2024, which includes a diverse mix of government and private projects. The company is enhancing its capabilities with a precast facility aimed at improving project turnaround time and quality.

**Business Developments:** A notable partnership has been established with Adani Infra for the potential acquisition of a 30.07% stake, expected to increase visibility in construction orders from Adani’s portfolio.

**Market Position and Competitive Advantage:** PSP has successfully positioned itself among few players handling larger value projects, emphasizing its competitive edge through a diversified service offering across various segments in the construction industry.

**Investor Implications:** The current financial challenges are being addressed by streamlining project execution and exploring new strategic partnerships. Investors should monitor these developments as the company aims to leverage its strong order book and industry positioning for future growth opportunities.