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PSP Projects Ltd
(PSPPROJECT)
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Rating:52Neutral
Price Target:
₹960.00
▼(-6.94% Downside)
Action:Reiterated
Date:07/31/26
The score is primarily held back by sharp margin compression and weaker earnings quality despite strong FY2026 revenue growth, alongside historically inconsistent cash conversion. Technicals are mixed with short-term weakness (below 20/50 DMA) but a still-supportive longer-term trend (above 100/200 DMA). Valuation is a further headwind due to the high P/E multiple.
Positive Factors
Revenue Growth Momentum
A 30.8% revenue rebound in FY2026 indicates sustained demand recovery and stronger project wins versus the prior year. That larger top line provides a more durable base to absorb fixed costs, support backlog monetization and enable incremental margin recovery over coming quarters.
Negative Factors
Sharp Margin Compression
Dramatic decline in gross margins reflects higher input costs, pricing pressure or project mix shifts that materially weaken profitability. Persistently compressed margins erode operating leverage and reduce the firm's ability to self-fund growth or absorb cyclical shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
A 30.8% revenue rebound in FY2026 indicates sustained demand recovery and stronger project wins versus the prior year. That larger top line provides a more durable base to absorb fixed costs, support backlog monetization and enable incremental margin recovery over coming quarters.
Read all positive factors
PSP Projects Ltd (PSPPROJECT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹37.69B
Dividend YieldN/A
Average Volume (3M)4.92K
Price to Earnings (P/E)35.9
Beta (1Y)0.83
Revenue Growth44.77%
EPS Growth231.43%
CountryIN
Employees1,969
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)22.69
Shares Outstanding39,641,792
10 Day Avg. Volume3,881
30 Day Avg. Volume4,924
Financial Highlights & Ratios
PEG Ratio-18.40
Price to Book (P/B)4.81
Price to Sales (P/S)1.93
P/FCF Ratio53.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)38.34
Revenue Forecast (FY)₹42.91B
PSP Projects Ltd Business Overview & Revenue Model
Company Description
PSP Projects Limited, an Ahmedabad, India-based construction firm founded in 2008, offers comprehensive building services across diverse sectors throughout India. Its extensive portfolio encompasses industrial complexes, including pharmaceutical a...
How the Company Makes Money
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PSP Projects Ltd Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
70
Positive
Cash Flow
46
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 31.49B | 25.29B | 25.06B | 19.38B | 17.48B |
| Gross Profit | 1.97B | 3.58B | 4.78B | 3.47B | 3.57B |
| EBITDA | 1.94B | 1.97B | 2.74B | 2.55B | 2.80B |
| Net Income | 555.16M | 564.18M | 1.23B | 1.32B | 1.67B |
Balance Sheet | |||||
| Total Assets | 30.89B | 23.53B | 20.37B | 17.65B | 12.70B |
| Cash, Cash Equivalents and Short-Term Investments | 4.16B | 2.08B | 2.27B | 2.42B | 1.96B |
| Total Debt | 3.30B | 2.72B | 4.55B | 1.45B | 996.57M |
| Total Liabilities | 18.25B | 11.44B | 11.22B | 9.64B | 5.83B |
| Stockholders Equity | 12.64B | 12.09B | 9.15B | 8.01B | 6.87B |
Cash Flow | |||||
| Free Cash Flow | 1.14B | -152.53M | -3.66B | -344.72M | 706.76M |
| Operating Cash Flow | 3.07B | 527.10M | -2.24B | 452.78M | 1.47B |
| Investing Cash Flow | -1.69B | -1.06B | -262.49M | -507.19M | -1.64B |
| Financing Cash Flow | 424.05M | 196.04M | 2.69B | 115.47M | -107.33M |
PSP Projects Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹36.63B | 9.42 | ― | 0.67% | 0.52% | -1.01% | |
65 Neutral | ₹34.59B | 1.33 | ― | ― | -25.08% | 51.20% | |
65 Neutral | ₹33.85B | 7.84 | ― | 0.21% | -41.35% | -56.36% | |
59 Neutral | ₹34.71B | 10.64 | ― | 0.37% | 3.53% | -34.64% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹25.52B | 9.68 | ― | ― | -9.69% | 37.26% | |
52 Neutral | ₹37.69B | 35.94 | ― | ― | 44.77% | 231.43% |
* General Sector Average
IN:PSPPROJECT
PSP Projects Ltd
977.60
218.10
28.72%
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PSP Projects Ltd Corporate Events
PSP Projects Announces Details of 18th AGM to Be Held Virtually
May 26, 2026
PSP Projects Ltd has notified stock exchanges that it has published newspaper advertisements providing information about its 18th Annual General Meeting. The AGM will be held on June 27, 2026, at 11:00 a.m. IST through video conferencing and other...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.