PSP Projects Limited — Investor Meet, 28-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

PSP Projects reported Q2 FY26 revenue of Rs. 694 Cr (up 20% YoY) and net profit of Rs. 15 Cr (up 33% YoY). The company achieved a world record concrete pour for Vishv Umiya Dham Temple. The outstanding order book stands at Rs. 9,883 Cr (up 51% YoY), with Rs. 4,118 Cr order inflow YTD, primarily from the Adani Group (56% of order book). Management anticipates FY26 revenue of Rs. 3,200 Cr and projects FY27 revenue exceeding Rs. 4,000 Cr, targeting an 8-9% EBITDA margin. Working capital challenges due to Q2-end sales are expected to stabilize with Adani mobilization advances. The outlook is positive, driven by strong Adani partnership.