PSP Projects Ltd.
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ABOUT
AI Sector View
AI GENERATEDRealty
Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.
PROS
- Promoters have been increasing their shareholding - up 8.7pp over 2 years
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 20.5% CAGR over last 5 years
- Working capital cycle has improved - days down from 95 to 69
- Company maintains a comfortable, low leverage position
CONS
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 8.1% over last 3 years
- Company has a low return on capital employed of 11.9%
- Company has delivered a poor profit growth of -7.8% over past five years
- Contingent liabilities are large at 59.5% of net worth
- Operating margins have contracted to 6.0% from 13.2%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 672.30 | 37.43 | 166415.21 | 1.19 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1210.75 | 29.32 | 120980.95 | 0.35 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| PHOENIXLTD | 1911.60 | 53.42 | 68373.70 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 15.41 | 59.77 |
| OBEROIRLTY | 1857.70 | 25.69 | 67546.39 | 0.43 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| PRESTIGE | 1558.85 | 58.96 | 67144.38 | 0.13 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| GODREJPROP | 1915.00 | 36.05 | 57684.87 | 0.52 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| ANANTRAJ | 641.10 | 39.87 | 23071.71 | 0.16 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| BRIGADE | 680.50 | 31.95 | 22201.94 | 0.22 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ABREL | 1377.35 | 116.32 | 15384.40 | 0.18 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1250.45 | 57.99 | 13374.04 | 0.48 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 799.30 | 10.77 | 11245.03 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 34.77 | -8.10 |
| PSPPROJECT | 871.10 | 47.02 | 3453.20 | 0.00 | 18.34 | 4236.41 | 853.47 | 64.84 | 7.82 | 6.42 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 514 | 620 | 705 | 668 | 623 | 586 | 630 | 673 | 518 | 703 | 813 | 1,115 | 853 | |
| 447 | 547 | 635 | 615 | 549 | 548 | 595 | 641 | 493 | 653 | 758 | 1,055 | 829 | |
| Operating Profit | 66 | 72 | 70 | 53 | 74 | 38 | 36 | 32 | 25 | 50 | 55 | 60 | 24 |
| OPM % | 12.88% | 11.70% | 9.88% | 7.89% | 11.87% | 6.42% | 5.64% | 4.81% | 4.79% | 7.10% | 6.71% | 5.36% | 2.83% |
| 6 | 6 | 6 | 6 | 4 | 5 | 4 | 5 | 4 | 4 | 4 | 5 | 4 | |
| Interest | 9 | 12 | 15 | 14 | 13 | 11 | 10 | 10 | 11 | 12 | 11 | 11 | 8 |
| Depreciation | 12 | 14 | 19 | 20 | 17 | 18 | 19 | 19 | 17 | 20 | 24 | 26 | 23 |
| Profit before Tax | 51 | 52 | 42 | 25 | 48 | 14 | 10 | 8 | 1 | 22 | 24 | 27 | 28 |
| Tax % | 25.70% | 25.63% | 26.12% | 35.08% | 27.49% | 25.18% | 36.24% | 19.63% | 41.67% | 27.78% | 25.36% | 23.03% | 35.07% |
| Net Profit | 0 | 0 | 0 | 0 | 35 | 10 | 5 | 6 | 0 | 16 | 18 | 21 | 18 |
| 10.51 | 10.70 | 8.63 | 4.31 | 8.80 | 2.60 | 1.28 | 1.64 | 0.11 | 4.10 | 4.53 | 5.26 | 4.63 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 445 | 752 | 1,050 | 1,499 | 1,241 | 1,748 | 1,938 | 2,506 | 2,512 | 3,149 | 3,484 | |
| 378 | 647 | 902 | 1,308 | 1,106 | 1,490 | 1,708 | 2,245 | 2,333 | 2,960 | 3,296 | |
| Operating Profit | 67 | 105 | 149 | 191 | 135 | 258 | 230 | 261 | 179 | 189 | 188 |
| OPM % | 15.08% | 13.90% | 14.14% | 12.73% | 10.87% | 14.78% | 11.87% | 10.41% | 7.14% | 6.00% | 5.41% |
| 13 | 19 | 23 | 24 | 17 | 22 | 25 | 24 | 17 | 17 | 17 | |
| Interest | 8 | 9 | 10 | 15 | 15 | 26 | 32 | 51 | 44 | 45 | 42 |
| Depreciation | 8 | 11 | 24 | 27 | 26 | 32 | 40 | 65 | 73 | 87 | 93 |
| Profit before Tax | 65 | 102 | 137 | 173 | 111 | 222 | 183 | 169 | 80 | 75 | 102 |
| Tax % | 35.65% | 35.58% | 35.11% | 26.00% | 24.86% | 24.97% | 26.47% | 27.15% | 27.43% | 25.38% | 27.95% |
| Net Profit | 42 | 66 | 89 | 128 | 83 | 166 | 135 | 123 | 58 | 56 | 74 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 22.65 | 46.29 | 36.65 | 34.16 | 14.23 | 14.00 | — |
| Dividend Payout % | 17.35% | 27.47% | 20.13% | 14.01% | 17.66% | 10.80% | 6.82% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 21%
- 5 Years:
- 20%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- -7%
- 3 Years:
- -25%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 15%
- 3 Years:
- 2%
- 1 Year:
- 21%
RETURN ON EQUITY
- 10 Years:
- 23%
- 5 Years:
- 14%
- 3 Years:
- 8%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 29 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 40 | 40 |
| Minority Interest | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| 76 | 265 | 333 | 418 | 500 | 651 | 765 | 879 | 1,169 | 1,224 | |
| 75 | 30 | 31 | 80 | 84 | 100 | 145 | 401 | 238 | 307 | |
| Trade Payables | 74 | 127 | 159 | 217 | 257 | 258 | 368 | 420 | 418 | 465 |
| 71 | 137 | 169 | 204 | 105 | 214 | 438 | 281 | 461 | 1,007 | |
| Total Liabilities | 325 | 597 | 729 | 956 | 982 | 1,259 | 1,752 | 2,017 | 2,326 | 3,044 |
| 52 | 78 | 103 | 108 | 116 | 207 | 240 | 322 | 307 | 413 | |
| Capital Work in Progress | 0 | 2 | 0 | 0 | 42 | 0 | 18 | 3 | 3 | 1 |
| 18 | 16 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
| 4 | 34 | 75 | 97 | 89 | 82 | 153 | 318 | 324 | 348 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 342 | 530 | 928 | |
| Cash & Bank | 107 | 228 | 222 | 197 | 229 | 196 | 242 | 227 | 208 | 416 |
| 145 | 240 | 328 | 554 | 505 | 773 | 1,099 | 805 | 953 | 938 | |
| Total Assets | 325 | 597 | 729 | 956 | 982 | 1,259 | 1,752 | 2,017 | 2,326 | 3,044 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 111 | 69 | 71 | 97 | 211 | 102 | -224 | 53 | 323 | |
| Cash from Investing | -3 | -122 | -23 | -8 | 5 | -164 | -51 | -26 | -106 | -152 |
| Cash from Financing | 22 | 81 | -26 | -2 | -4 | -11 | 12 | 269 | 20 | 10 |
| 11 | 29 | -27 | 6 | 74 | -28 | 6 | 19 | -33 | 180 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-05 - PSP Projects Limited has informed the Exchange about Transcript
2026-07-30 - PSP Projects Limited has informed the Exchange about Link of Recording
2026-07-30 - PSP Projects Limited has informed the Exchange about Investor Presentation
2026-07-30 - PSP Projects Limited has submitted to the Exchange, the outcome of board meeting along with financial results for the period ended Jun 30, 2026.
2026-07-21 - PSP Projects Limited has informed the Exchange about Copy of Newspaper Publication of Notice to the Equity Shareholders of the Company for transfer of Equity Shares to the Investors Education & Protection Fund (IEPF)
2026-07-11 - PSP Projects Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) ESG Rating'.
2026-07-09 - PSP Projects Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-09 - PSP Projects Limited has informed the Exchange about Schedule of meet
2026-06-30 - PSP Projects Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on Jun 27, 2026. Further, the company has informed the Exchange regarding voting results.
News
Recent coverage and analyst commentary for PSPPROJECT
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