PSP Projects Ltd. share price target

PSP Projects Ltd (PSP), is an efficient and organised constructor in the medium ticket size institutional and industrial construction segment.

We maintain a BUY with a TP of Rs 639/sh (18x Mar-20E EPS). PSPs 1QFY19 revenue of Rs 2.3bn (+50.6%YoY, -11.0% QoQ) was largely driven by the SDB project (~Rs 830mn). EBITDA margin came in at 14%, about 100bps higher than management guidance. Change in project mix (SDB still in initial stage where material cost is significantly higher than labour) was key reason.

PSP Projects Ltd reported strong set of numbers in Q4FY18. For four consecutive quarters, PSP is beating the market expectations both at the topline and bottom...

We maintain BUY on PSP with TP of Rs 639/sh (18x Mar-20E EPS). PSPs 4QFY18 revenue was in-line with our estimates of Rs 2.6bn. Higher than expected EBITDA margins led to EBIDTA/PAT beat of 25.5/23.3%. Balance sheet continues to remain healthy with net cash/equity of 0.7x.

PSP Projects Ltd (PSP) is an efficient and organised constructor in the medium ticket size institutional and industrial construction segment in and around...

PSP Projects is a multidisciplinary construction company. Issue Open: May 17 ? May 19, 2017, Price Band: Rs. 205-210

Visible growth through a robust order book & growing pre-qualification credentials: In this industry, an order book is considered one of the key indicators of future performance as it represents a portion of anticipated future revenue. PSP's strategy is not focused solely on order book addition but, rather, on adding quality projects with potentially higher margins and/or prestigious projects that help enhance with their growing reputation. By diversifying their skill set and order book across different sectors, PSP is able to pursue a broader range of project tenders and consequently, optimize our business volume and profit margins. The Company's total order book as of FY17 was Rs....

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India. The company provide its services across the construction value chain, ranging from planning and design to construction and post construction activities to private and public sector enterprises. Historically, it has focused on projects in the Gujarat region and has completed and continue to undertake construction projects in this region. More recently, it has geographically diversified its portfolio of services and is undertaking or has bid for projects pan India. Over the years, company has successfully executed a number of prestigious projects across Gujarat. One of the first major projects that it completed was the construction of the GCS Medical College, Hospital and Research Centre...

Incorporated in 2008, PSP Projects Ltd is an India based Construction Company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects. It provides services across the construction value chain, ranging from planning and design to construction and postconstruction activities to private and public sector enterprises. It has successfully executed a number of prestigious projects across Gujarat. One of the first major projects that the company completed was the construction of the GCS Medical College, Hospital and...

PSP Project Ltd. (PSP) is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India. PSP provides services across the construction value chain, ranging from planning and design to construct..