PSP Projects Ltd
PSP Projects Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
PSP Projects is targeting significant order inflow from Adani Group for FY26, estimated between INR 7,000 to 8,000 crores, with ongoing bids potentially rising to INR 8,000-9,000 crores. Order inflow for FY26 is expected between INR 7,500 to 8,000 crores, mainly from Adani Group projects, indicating strong growth potential.
From PSP Projects Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- PSP Projects is targeting significant order inflow from Adani Group for FY26, estimated between INR 7,000 to 8,000 crores, with ongoing bids potentially rising to INR 8,000-9,000 crores.
- Combined with the existing order book of around INR 6,500 crores, total orders could approach INR 13,000-14,000 crores.
- Revenue guidance for the next year (FY27) is estimated at INR 4,500 crores, based on execution of the enlarged order book.
- Execution of new orders from the third quarter is expected, although significant revenue contribution may start in the last quarter due to project basements and real estate focus.
- EBITDA margins are expected to stabilize in the 8%-9% range starting Q2/Q3 FY26 after overcoming labor shortages.
- Precast facility capacity utilization is expected to grow, targeting INR 500 crores revenue in the next 1-1.5 years from precast operations.
- The company is scaling management and teams, including a new Mumbai office, to handle growth.
Profitability & Margins
See what PSP Projects Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Current capex for FY26 mainly includes plant and machinery, formwork, and cranes for new sites, amounting to around INR 32 crores.
- Capex guidance for FY26 and FY27 is expected to be 3% to 4% of turnover.
- Capex investment supports large-scale projects from the Adani Group, with possible variation of ±0.5%.
- Precast facility capex aims to increase capacity utilization to generate up to INR 500 crores revenue in 1-1.5 years.
- Emphasis on technology adoption (e.g., modular formwork, Peri table forms) to improve productivity and reduce labor dependence.
- No specific mention of strategic investments or acquisitions beyond enhancements in manufacturing and site equipment.
Top-ranked in Construction
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what PSP Projects Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands at approximately INR 6,150 to 6,500 crores as of June 30, 2025.
- Upcoming order inflows expected from the Adani Group are between INR 7,000 to 7,500 crores for FY '26.
- Discussions are ongoing with the Adani Group for potential projects worth INR 8,000 to 9,000 crores.
- Order book comprises a mix of projects including core & shell, finishing, turnkey, and MEP works.
- Majority of new projects are expected to be item rate contracts rather than fixed-price.
- Order inflows outside Adani are limited but bidding occurs for prestigious projects such as the Ambaji Corridor development.
- Expected total order pipeline could be around INR 13,000 to 14,000 crores combining current and upcoming inflows.
- Execution of new orders mainly expected to begin from Q3 FY '26, with significant revenue impact in FY '27.
PSP Projects Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net profit ₹21 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What PSP Projects's management said in earlier quarters
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Frequently Asked Questions
What were PSP Projects Ltd Q1 FY26 results?
PSP Projects is targeting significant order inflow from Adani Group for FY26, estimated between INR 7,000 to 8,000 crores, with ongoing bids potentially rising to INR 8,000-9,000 crores. Order inflow for FY26 is expected between INR 7,500 to 8,000 crores, mainly from Adani Group projects, indicating strong growth potential.
What is PSP Projects Ltd share price analysis?
PSP Projects Ltd currently shows a neutral. The stock trades at a P/E of 49.8 with a market cap of ₹3,657 Cr. Investors should review the full earnings analysis for detailed insights.
Is PSP Projects Ltd planning capital expenditure?
Current capex for FY26 mainly includes plant and machinery, formwork, and cranes for new sites, amounting to around INR 32 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.