PSPPROJECTIndustrials

PSP Projects Limited

Civil Construction · ISIN INE488V01015 · BSE 540544 · NSE EQ · FV ₹10
Last price
₹812
-0.19%today
What this company does

PSP Projects Limited operates in Civil Construction, part of the Industrials sector. It booked ₹853 cr of revenue in its latest quarter (Q1 FY27) and kept 2.1% of sales as profit.

In the report:
53out of 100
Equitytale Health Score
Mixed

Healthier than 53% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 51–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
25

At close. Not part of the score.

Profitability & returns33

How much profit it earns on the money it employs

Balance sheet51

How much it owes, and whether earnings cover the interest

Cash quality70

Whether reported profit actually arrives as cash

Growth & consistency59

Whether sales and profit have grown, and how steadily

Valuation36

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 65% vs last year
Profit up 4,232% vs last year
Promoters hold 69%
No promoter shares pledged
Watch-outs
! Thin 2.1% net margin
! Low 5.8% return on equity
! Operating cash flow is negative

What if I invest in PSPPROJECT?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹812 -0.19%
latest close · 2026-09-17
1-year return
+94.9%
52-wk low ₹41052-wk high ₹1,089
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio43.9High
LowAverageHigh
P/B ratio2.55Moderate
Below bookModerateHigh
EV / EBITDA13.9Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.8%Weak
WeakFairStrong ▸15%
Return on capital11.0%Fair
WeakFairStrong
Net margin2.1%Thin
ThinDecentStrong
EBITDA margin6.9%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.25Comfortable
LowModerateHigh ▸1
Interest cover4.7×Okay
RiskyOkayStrong ▸5×
Current ratio1.33Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹3,218 cr
Book value
₹319
EPS
₹4.63
latest quarter
Net debt
₹57 cr
owes more than its cash
Enterprise value
₹3,275 cr
EBITDA
₹235 cr
annualised
EBIT
₹143 cr
annualised
Operating margin
4.2%
Return on assets
2.4%
Earnings yield
2.28%
P/S
0.94
Sales / share
₹861.7
Tax rate
35.1%
Face value
₹0
Shares
4.0 cr
Working capital
₹598 cr
Current assets
₹2,387 cr
Current liabilities
₹1,789 cr
Delivery %
54.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹472 vs market price ₹812 — price is 72% above it
Safety cushion-72.1%(target ≥ +20%)
Models span ₹222₹599, midpoint ₹472
Model ₹472
Price ₹812
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹853 cr
Other Income₹4 cr
Total Income₹858 cr
Cost of Materials₹247 cr
Purchases of Stock-in-Trade₹49 cr
Inventory Change (±)₹85.8 L
Employee Benefit Expense₹46 cr
Finance Costs₹8 cr
Depreciation & Amortisation₹23 cr
Other Expenses₹456 cr
Total Expenses₹829 cr
Profit before Tax₹28 cr
Tax Expense₹10 cr
Share of JV / Associates₹0.31 L
Net Profit₹18 cr
Net margin on total income2.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹296 cr34.6%
Employee benefit expense₹46 cr5.4%
Finance costs₹8 cr0.9%
Depreciation & amortisation₹23 cr2.7%
Other expenses₹456 cr53.2%
Tax expense₹10 cr1.2%
Profit for the period₹18 cr2.1%
Total income ₹858 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue813 cr1,115 cr853 cr
Total income817 cr1,121 cr858 cr
Expenses793 cr1,093 cr829 cr
Profit before tax24 cr27 cr28 cr
Tax6 cr6 cr10 cr
Net profit (owners' share)18 cr21 cr18 cr
Net margin (owners' share, on revenue)2.2%1.9%2.1%
EPS (₹)4.535.264.63
YoY (latest quarter): total income +64.4% · net profit +4,232.2%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹3,089 cr
Shareholder equity
₹1,264 cr
parent shareholders
Total debt
₹317 cr
Cash
₹260 cr
Cash flow · H1 FY26
Operating
₹-42 cr
Investing
₹-40 cr
Financing
₹59 cr
Peer comparison
Civil Construction · by market value
CompanyPriceMarket capP/E
Larsen & Toubro Limited₹3,836₹5.28 L cr32.0
Rail Vikas Nigam Limited₹202₹42,055 cr66.3
Kalpataru Projects International Limited₹1,399₹23,900 cr19.3
IRB Infrastructure Developers Limited₹19₹22,767 cr18.9
NBCC (India) Limited₹82₹22,175 cr36.0
Cemindia Projects Limited₹1,255₹21,563 cr38.3
Engineers India Limited₹264₹14,824 cr23.5
Techno Electric & Engineering Company Limited₹985₹11,452 cr30.7
KEC International Limited₹402₹10,700 cr36.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹2.5
ex 1 Sep 2023
ActionDetailEx-date
Dividend₹2.5 / share1 Sep 2023
Dividend₹5 / share19 Sep 2022
Dividend₹4 / share8 Sep 2021
Dividend₹5 / share19 Mar 2020
Dividend₹5 / share6 Sep 2019
Dividend₹5 / share18 Sep 2018
Who owns it · 2026-06-30
No pledge
Promoter
68.8%
FII / Foreign
2.1%
DII / Domestic
2.9%
Retail / others
26.2%
Promoter stake up 2.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldPRAHALADBHAI SHIVRAMBHAI PATEL · Promoters1.02 cr · ₹650.4 cr4 Aug 25
BoughtPRAHALADBHAI SHIVRAMBHAI PATEL · Promoters25,000 · ₹1.8 cr30 May 23
BoughtPRAHALADBHAI SHIVRAMBHAI PATEL · Promoters25,000 · ₹1.9 cr26 May 23
Bulk / block deals
short · NSE17 Jul 26
short · NSE1486 Jul 26
short · NSE13 Jul 26
Stake changes
BoughtAdani Infra (India) Ltd · promoter→ 34.41% · 91.54 L5 Aug 25
SoldPrahaladbhai Shivrambhai Patel · promoter→ 22.04% · 1.02 cr5 Aug 25
SoldFunds under management of FMR LLC and its direct and indirect subsidiaries and FIL Limited and its direct and indirect→ 1.14% · 15.44 L17 Jun 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 16 Jan 2026
See the official result
1
To appoint M/S. G. K. Choksi & Co., Chartered Accountants, Ahmedabad (firm registration no. 101895W) as the Joint Statutory Auditors of the Company to fill the casual vacancy caused by resignation of M/S. Prakash B. Sheth & Co. (firm registration no. 108069W), till the ensuing Annual General Meeting of the Company to be held in the year 2026 and to fix their remuneration.
Backed by 83% of shareholders other than promotersneeded 50%
12.07 L votes for, 2.49 L against · 18% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 9 named members
owning 68.8% between them · as of 2026-06-30
ADANI INFRA (INDIA) LIMITED34.41%
PRAHALADBHAI SHIVRAMBHAI PATEL22.04%
SAGAR PRAHLADBHAI PATEL5.05%
SHILPABEN PRAHALADBHAI PATEL4.58%
POOJA P PATEL2.52%
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%
Business done with them
FY2026 · 3 of the group
The company paid ₹62 cr to companies in the promoter group last year — about 2.0% of its ₹3,149 cr revenue and received ₹236 cr back from them.
Adani Infra (India) Limited
Contribution received from them · Rendering Services by Holding Company
also owns 34.41% of the company
₹141 cr
company received
Adani Infra (India) Limited
Provided services to them · Rendering Services by Holding Company
also owns 34.41% of the company
₹66 cr
company received
Adani Infra (India) Limited
Contribution made to them · Rendering Services by Holding Company
also owns 34.41% of the company
₹57 cr
company paid
Adani Infra (India) Limited
Sold goods to them · Rendering Services by Holding Company
also owns 34.41% of the company
₹29 cr
company received
Pooja Prahladbhai Patel
Other payments to them · Remuneration
₹3 cr
company paid
Sagar Prahladbhai Patel
Other payments to them · Salary /Remuneration paid
also owns 5.05% of the company
₹3 cr
company paid
Sagar Prahladbhai Patel
Paid them for services · Salary /Remuneration paid
also owns 5.05% of the company
₹19.7 L
company paid

The company also transacted with 36 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.