loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

PSP Projects reported its consolidated financial results with revenues at ₹853.5 crore

ICICIdirect Research 31 Jul 2026 DISCLAIMER

News: PSP Projects reported its consolidated financial results with revenues at ₹853.5 crore, up 65% YoY, EBITDA grew 121% YoY to ₹54.8 crore with margins expanding 163 bps to 6.42%. PAT stood at 18.2 crore with a margin of 2.12%. On standalone basis, revenue was reported at ₹785.3 crore, up 53.2% YoY, owing to healthy execution. Operating EBITDA was ₹54.6 crore with an EBITDA margin of 6.96%, up 141 bps YoY. PAT was reported at ₹15.2 crore, up 79x YoY on a dismal base. The orderbook stood at ₹13,245 crore, down 1.5% from FY26, 3.8x book to bill on TTM basis 

View: The revenue expansion displays the overall improved execution of orders by the company. We expect the company to receive more orders from the Dharavi resettlement project which is a ₹20,000 crore (currently executing ₹ 3500 crore) opportunity due to be completed in the next 5 years. We note that though the company gives strong revenue visibility, EBITDA margins, according to us, are capped at 7-7.5% mainly due to group projects from Adani group where the company expects 6-7% margins and these projects being around 70% of the total orderbook, currently.

Impact: Neutral

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere