PSP Projects Limited
NSE: PSPPROJECT · Civil Construction · sector
₹721.70NSE close 2026-10-26
Key numbers
Market cap₹2,861 cr
Price₹721.70
52w high / low₹1,143 / ₹569
P/E39.0xSector median 12.2x
P/B2.3xSector median 1.3x
Book value₹318.8
Dividend yield–Sector median 0.76%
ROE5.9%Sector median 10.2%
ROCE9.1%Sector median 12.9%
OPM6.3%Sector median 10.7%
Debt / equity0.25xSector median 0.36x
EV/EBITDA12.6xSector median 8.8x
Interest cover3.5x
Current ratio1.33x
Sales growth 3y+17.6%Sector median +6.7%
Profit growth 3y-25.1%Sector median +5.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 119 companies in Civil Construction (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹416 cr vs borrowings ₹317 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 3.5x in the last 12 months.
- Operating cash flow was below net profit in 4 of the last 5 years (FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 24% of net profit in the last 12 months.
- Debtor days went from 50 (FY24) to 108 (FY26).
- Dividend paid in 3 of the last 5 financial years.
- Price ₹721.70 on 2026-10-26: -36.9% from the 52-week high, +26.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,081.40 · low ₹601.25
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 586 | 630 | 673 | 518 | 703 | 813 | 1,115 | 853 |
| EBITDA | 38 | 36 | 32 | 25 | 50 | 55 | 60 | 55 |
| OPM % | 6.4% | 5.6% | 4.8% | 4.8% | 7.1% | 6.7% | 5.4% | 6.4% |
| Other income | 5 | 4 | 5 | 4 | 4 | 4 | 5 | 4 |
| Net profit | 10 | 5 | 6 | 0 | 16 | 18 | 21 | 18 |
| EPS (₹) | 2.60 | 1.28 | 1.64 | 0.11 | 4.10 | 4.53 | 5.26 | 4.63 |
| Revenue YoY | +19.9% | +29.0% | +65.7% | +64.8% | ||||
| Profit YoY | +58.2% | +253.1% | +226.5% | +4,266.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,748 | 1,938 | 2,506 | 2,512 | 3,149 | 3,484 |
| EBITDA | 258 | 230 | 261 | 179 | 189 | 219 |
| Net profit | 167 | 132 | 123 | 56 | 56 | 73 |
| EPS (₹) | 46.29 | 36.65 | 34.16 | 14.32 | 14.00 | 18.52 |
| Revenue growth | +10.9% | +29.3% | +0.3% | +25.3% | +44.8% | |
| Profit growth | -20.8% | -6.8% | -54.1% | -1.6% | +231.4% | |
| Dividend / share (₹) | 4.00 | 5.00 | 2.50 | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +17.6% | +20.5% | +44.8% |
| Net profit | -25.1% | -7.4% | +231.4% |
| EPS | -27.4% | -9.2% | – |
| Share price | – | +8.9% (2y) | -5.2% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 801 | 915 | 1,209 | 1,264 |
| Borrowings | – | 145 | 455 | 272 | 317 |
| Cash & equivalents | – | 242 | 227 | 208 | 416 |
| Total assets | – | 1,765 | 2,037 | 2,353 | 3,089 |
| Fixed assets | – | 238 | 321 | 306 | 412 |
| Capital work in progress | – | 18 | 3 | 3 | 1 |
| Investments | – | 1 | 1 | 1 | 1 |
| Receivables | – | 434 | 342 | 530 | 928 |
| Inventory | – | 153 | 318 | 324 | 348 |
| Payables | – | 368 | 420 | 418 | 465 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 147 | 45 | -224 | 53 | 323 |
| Cash from investing | -164 | -51 | -26 | -106 | -152 |
| Cash from financing | -11 | 12 | 269 | 20 | 10 |
| Capex | 77 | 80 | 142 | 68 | 193 |
| Free cash flow | 71 | -34 | -366 | -15 | 130 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 16.5% | 13.4% | 4.7% | 4.4% |
| ROCE % | – | 22.7% | 16.1% | 8.4% | 7.6% |
| Debtor days | – | 82 | 50 | 77 | 108 |
| Inventory days | – | 96 | 147 | 145 | 107 |
| Payable days | – | 231 | 194 | 186 | 143 |
| Cash conversion cycle (days) | – | -53 | 3 | 36 | 72 |
| Working capital days | – | 67 | 66 | 95 | 69 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 68.82% |
| FIIs | 2.29% |
| DIIs | 3.04% |
| of which Mutual funds | 2.68% |
| Public (non-institutions) | 25.85% |
| Quarter | Mar 2025 | Jun 2025 | Aug 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 60.14% | 60.14% | 68.82% | 68.82% | 68.82% | 68.82% | 68.82% | 68.82% |
| Promoter group | % |
|---|---|
| Adani Infra (India) Limited | 34.41% |
| Prahaladbhai Shivrambhai Patel | 22.04% |
| Sagar Prahladbhai Patel | 5.05% |
| Shilpaben Prahaladbhai Patel | 4.58% |
| Pooja P Patel | 2.52% |
| SPP Family Trust (Acting through its Trustee - Mr. Prahaladbhai S Patel) | 0.11% |
| PPP Family Trust (Acting through its Trustee - Mrs. Shilpaben P. Patel) | 0.06% |
| PSP Family Trust (Acting through its Trustee - Mrs. Shilpaben P. Patel) | 0.05% |
| Adani Properties Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Madhulika Agarwal | 2.27% |
| ICICI Prudential Infrastructure Fund | 1.23% |
31,952 shareholders. Pledged: – of promoter shares.
Peers in Civil Construction
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LT | ₹5,06,276 cr | 30.5x | 4.6x | 16.7% | 12.8% | 9.4% | +22.2% | 0.92% |
| RVNL | ₹38,083 cr | 42.4x | 3.9x | 9.3% | 10.5% | 4.3% | +0.2% | 1.51% |
| KPIL | ₹22,134 cr | 19.5x | 2.8x | 15.9% | 17.7% | 8.4% | +18.4% | 0.69% |
| IRB | ₹19,639 cr | 20.6x | 0.9x | 4.7% | 7.6% | 53.9% | +6.1% | 0.65% |
| CEMPRO | ₹19,444 cr | 32.3x | 8.1x | 28.4% | 32.3% | 10.4% | +25.5% | 0.18% |
| NBCC | ₹18,536 cr | 25.1x | 6.1x | 27.0% | 33.9% | 5.8% | +13.8% | 1.08% |
| ENGINERSIN | ₹13,725 cr | 17.5x | 4.4x | 27.0% | 28.8% | 19.4% | +5.7% | 1.84% |
| TECHNOE | ₹9,612 cr | 22.3x | 2.3x | 10.9% | 13.7% | 14.0% | +57.7% | 1.09% |
| IRCON | ₹9,177 cr | 17.5x | 1.4x | 8.1% | 8.2% | 8.3% | -4.4% | 2.25% |
| PSPPROJECT | ₹2,861 cr | 39.0x | 2.3x | 5.9% | 9.1% | 6.3% | +17.6% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2023-09-01 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2022-09-19 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2021-09-08 | Dividend | Annual General Meeting/Dividend - Rs 4 Per Share |
| 2020-03-19 | Dividend | Interim Dividend - Rs 5 Per Share |
| 2019-09-06 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2018-09-18 | Dividend | Annual General Meeting/Dividend Rs 5 Per Share |
| 2017-09-14 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Construction Services: Construction services of industrial buildings
- Construction Services: Construction services of commercial buildings
- Construction Services: Construction services of other non-residential buildings
- Construction Services: Construction services of single dwelling or multi-dwelling or multi-storiedresidential buildings
- Construction Services: Construction services for "other" residential buildings, specifically including old-age homes, hostels, homeless shelters, orphan-age homes, and fraternity homes
| Sector | Industrials |
| Industry | Civil Construction |
| Sub-industry | Civil Construction |
| Symbol | PSPPROJECT |
| BSE code | 540544 |
| ISIN | INE488V01015 |
| Face value | ₹10.0 |
| Incorporated | 2008-08-26 |
| Website | www.pspprojects.com |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.