PSP Projects Limited — PPTs, 17-10-2025: Investor Presentation

**Business Performance:** PSP Projects reported Q2FY26 revenue of ₹693.69 Cr, up 20% year-on-year, with Profit After Tax (PAT) increasing 33% to ₹14.83 Cr. However, for the first half (H1FY26), revenue grew modestly by 1% to ₹1,206.45 Cr, while PAT saw a 67% year-on-year decline to ₹14.96 Cr, primarily impacted by a weaker Q1.

**Growth Drivers or Strategy:** A major growth driver is the strategic partnership with Adani Infra, which now holds a 34.41% stake and is expected to generate significant new orders. The company aims to expand its presence across industrial, institutional, government, and residential projects. PSP is also boosting capabilities with its precast manufacturing facility, focusing on faster project delivery and improved efficiency.

**Recent Developments:** The outstanding order book soared 51% year-on-year to ₹9,883 Cr as of September 30, 2025, with Adani Group projects accounting for 56%. PSP achieved a world record for a continuous concrete pour for the Vishv Umiya Dham Temple foundation. An equity capital of ₹244 Cr was raised via QIP in April 2024.

**Key Financial Metrics:** Q2FY26 Earnings Per Share (EPS) was ₹3.76. The H1FY26 Debt-Equity ratio stands at a comfortable 0.29 times.

**Management Commentary / Outlook:** Management expressed continued commitment to organic growth through timely project execution and consistent quality. They anticipate becoming a leading EPC player in India, benefiting from the nation's infrastructure development and the Adani partnership.