PSP Projects Ltd

- No specific mention of any current or planned new fundraising through debt or equity in the provided transcript. - The company has recently raised equity amounting to INR244 crores. - Receipts from Surat Diamond Bourse (SDB) amounting to INR104 crores were received in early July and part of this was used to repay INR60 crores of director’s loan. - The company’s gross debt as of June 30, 2024, was INR260 crores which has been reduced to around INR200 crores after repayments. - Debt utilisation includes bill discounting and fund-based facilities which fluctuate with working capital requirements. - The company indicated managing existing debt and did not discuss plans for additional debt or equity fundraising during the call.

- In Q1 FY25, PSP Projects Limited incurred capex of around INR17 crores. - For the full year FY25, the company projects a capex of approximately INR60 crores. - The capex is likely aimed at supporting ongoing and upcoming projects, including precast facility expansion and other operational needs. - No specific mention of strategic or large-scale future capital investments beyond the stated capex guidance in this call. - The management is focused on smooth execution and ramping up order books, which may influence future investment decisions.

- The company expects revenue for FY26 to be around Rs. 2,800 crores. - Revenue growth excluding Surat Diamond Bourse (SDB) is expected to maintain around 7.5%, aiming for overall 15% growth on a core level. - Precast facility revenue target for the current year is in the range of Rs. 200-250 crores with utilization around 50-60%; phase 2 expansion planned once utilization reaches 70-80% within the next 2 years. - Several high-value projects awarded in Q4FY24 are at initial stages and expected to pick up pace starting Q2FY25, boosting revenue. - The bid pipeline stands at around Rs. 6,400 crores, with some large projects under bidding, supporting future order inflows. - Order inflow guidance for the current year is Rs. 3,500 crores, with expectations to achieve this figure.

- FY '26 revenue guidance is ₹2,800 crore, maintaining the current year's target. - EBITDA margins expected to improve to around 10-11% starting Q2FY25, up from a recent low impacted by UP projects. - Management aims for a stabilized EBITDA margin of 10-11% going forward, reflecting better cost control and project execution efficiencies. - Contribution from high-value projects awarded in Q4FY24 is expected to improve earnings from Q2 onwards as projects ramp up. - Incremental margin improvement expected post-UP projects completion, potentially reaching 10%-11% EBITDA. - Order inflow target for the full year remains robust at ₹3,500 crore, supporting revenue and profit growth. - Some anticipated expenses related to UP projects may marginally impact near-term margins but expected to normalize subsequently. - No major penalties or escalations affecting earnings currently, with price escalation clauses covering impacts on certain projects.

- Outstanding order book as of June 30, 2024, is Rs. 5,890 crore, showing an 11% year-on-year growth. - Current bid pipeline is approximately Rs. 6,000 crore, indicating a healthy inflow of potential orders. - Order inflow during Q1FY25 was Rs. 297 crore, including a major order of Rs. 229 crore for the Palladium Mall in Surat. - Expectation of new orders in the near term: Some orders nearing confirmation, with one or two expected within the next 15-20 days or by August end. - Precast business has revenue potential in the range of Rs. 200-250 crore for the current year, reflecting growing demand and utilization (~50-60%) with plans to increase further. - Order inflow guidance for FY2025 stands at Rs. 3,500 crore, with confidence in reaching this target.