• The document is a regulatory filing containing the transcript of PSP Projects Limited's Q1 FY27 Earnings Conference Call held on Thursday, July 30, 2026.
  • The conference call was hosted by Ernst & Young and featured management participants including Mr. Prahaladbhai Patel (Chairman and Managing Director), Ms. Pooja Patel (Chief Executive Officer), and Ms. Hetal Patel (Chief Financial Officer).
  • The call included opening comments from management discussing financial results, order book status, project updates, and was followed by an extensive question-and-answer session with analysts.
  • The company disclosed that no unpublished price sensitive information (UPSI) would be shared during the call, as stated in the introductory remarks about forward-looking statements.

Financial Highlights Discussed

  • Q1FY27 Financial Performance (Consolidated): Revenue from operations was INR853 crores versus INR518 crores in Q1FY26, representing 65% YoY growth. EBITDA stood at INR55 crores versus INR25 crores (121% YoY increase), with EBITDA margin at 6.42% versus 4.79%. Net profit was INR18 crores versus INR0.37 crores, showing significant improvement.
  • Order Book Status: Outstanding order book as of June 30, 2026, was INR13,245 crores, reflecting 103% YoY growth. The order book composition was 70% group projects and 30% external projects, with diversification across industrial projects (39%), residential projects (37%), government projects (23%), and institutional projects (1%).
  • Key Projects: Management highlighted major projects including Shree Ambaji Mata Temple (INR962 crores), SMC High-Rise Building (INR693 crores), Construction of FinTech building at GIFT City Gujarat (INR259 crores), Human Biological Science Gallery at Science City (INR248 crores), biggest residential project in GIFT City (INR202 crores), Development of Dharoi Dam region (INR198 crores), and Sabarmati Riverfront Development Phase 2 (INR187 crores).
  • Q1 Order Inflows: The company received order inflows of INR630 crores during the quarter, with 93% coming from Adani Group, including projects for Adani Healthcare and Research Foundation in Mumbai, airport office building at T1 Mumbai, refurbishment of port user building in Mundra, and construction of skilled accommodation at Green PVC project in Mundra.
  • Balance Sheet Details: As of June 30, 2026, long-term borrowing was INR38 crores (including short-term maturities of INR19 crores), short-term borrowing was INR217 crores, net unbilled revenue was INR473 crores, trade receivables were INR745 crores, trade payables were INR356 crores, retention amounts were INR222 crores, mobilization advance stood at INR836 crores, and inventories were INR362 crores.
  • Credit Facilities: Out of total sanctioned credit facility of INR1,497 crores, the company utilized non-fund-based facilities of INR678 crores and fund-based utilization of INR166 crores, with INR653 crores available for utilization.
  • Fixed Deposits: The company held total fixed deposits of INR324 crores, with INR139 crores lien-free and INR185 crores under lien with banks for credit facilities and security deposits.

Guidance and Outlook

  • Management reaffirmed FY27 revenue guidance of INR4,400-4,500 crores, representing more than 25% growth.
  • EBITDA margins are expected to improve to 7-8% in the second half of FY27, with Q1 margins impacted by higher employee costs (5.39% of sales) due to seasonal factors affecting April-May execution.
  • The company expects to become net debt-free in the next 2-3 quarters as working capital improves and finance costs reduce.

Project Updates

  • SMC High-Rise Building: Core and shell activity completed, with MEP, interior works, and facade work ongoing.
  • RVNL Project: Two buildings will be handed over soon, hospital building RCC completed, with MEP, interior works, and facade work ongoing.
  • Ahmedabad Airport: RCC work progressing in full swing.
  • Ambaji Mata Temple: At excavation level with some buildings at footing level.
  • Dharavi Projects: INR3,000 crores worth of projects in the order book, representing approximately 30,000 houses of the total 2 lakh houses planned for Dharavi redevelopment.

Additional Notes

  • The document was filed with BSE and NSE as a regulatory requirement under Regulation 30 of SEBI (LODR) Regulations, 2015.
  • The transcript includes the complete Q&A session with analysts from various brokerage firms covering topics including margin guidance, order inflows, working capital, project updates, and segment focus.
  • No financial data was disclosed in the announcement itself beyond what was discussed in the earnings call transcript.