PSP Projects Limited announced exceptional Q4FY26 financial performance with revenue reaching ₹1,115 crore compared to ₹673 crore in the previous year, marking a significant 66% year-on-year growth. The company's board meeting held on April 30, 2026, approved audited financial results for FY26. Following the results announcement, the company filed its investor presentation and the transcript of the earnings conference call under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Outstanding Q4FY26 Performance

The fourth quarter of FY26 demonstrated remarkable operational excellence with consolidated net profit surging 234% to ₹21 crore from ₹6 crore in Q4FY25. The company also reported strong EBITDA performance with ₹60 crore compared to ₹32 crore in the previous year, representing significant operational efficiency improvements.

Strong FY26 Annual Results

The company delivered robust consolidated financial performance for FY26, demonstrating significant growth in revenue while maintaining healthy profitability. The results reflect strong operational performance across key business segments with an outstanding order book reaching ₹13,447.00 crore.

Strategic Growth and Order Book

The company highlighted its integrated EPC capabilities across the construction value chain, with presence in Gujarat, Rajasthan, Karnataka, Uttar Pradesh, Maharashtra and New Delhi. Order inflows for FY26 reached ₹10,925.00 crore excluding GST, supporting the strong order book growth. The presentation emphasized PSP Projects' position as a prominent construction company handling higher value projects.

Financial Guidance and Outlook

During the earnings conference call, management provided guidance for FY27, targeting revenue of ₹4,500 crore. The company expects EBITDA margins to improve to the range of 7% to 8%. Management indicated that the company aims to become debt-free in the near future as mobilization advances from the Adani Group, which are interest-free, are expected to suffice working capital requirements. The bid pipeline stands at ₹6,600 crore, with expectations of ₹5,000 crore to ₹6,000 crore from group projects and ₹1,000 crore to ₹2,000 crore from external opportunities.

Strategic Partnership with Adani Infra

The investor presentation revealed significant corporate developments, including Adani Infra (India) Limited's strategic partnership with PSP Projects. Adani Infra acquired 44,86,193 equity shares through open offer and 91,53,779 equity shares as per Share Purchase Agreement (SPA), taking its total holding to 34.41% and being classified as one of the promoters of the company.

Board Approvals and Governance

The Board of Directors approved and took on record the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, as reviewed and recommended by the Audit Committee. The joint statutory auditors M/s. Kantilal Patel & Co. and M/s. G. K. Choksi & Co. issued unmodified audit opinions on both standalone and consolidated financial results.

PSP Projects Limited's Board of Directors has made significant auditor appointments and re-appointments in their meeting held on April 30, 2026. The decisions, announced under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, encompass internal audit, cost audit, and statutory audit functions for the upcoming financial year.

Key Auditor Appointments and Re-appointments

The board approved several critical auditor positions to strengthen the company's audit and compliance framework:

Internal Auditor Profile

M/s. Manubhai & Shah LLP brings substantial experience to the internal audit function. The Chartered Accountancy firm, established in 1945, operates with 23 partners and over 1000 professionals across multiple locations. The firm maintains its head office in Ahmedabad with branches spanning Mumbai, Pune, New Delhi, Rajkot, Jamnagar, Baroda, Udaipur, Gandhinagar, and Indore. Their expertise covers auditing large corporates across various industry sectors.

Cost Auditor Credentials

M/s. KVM & Co. continues as the company's Cost Auditor, bringing 35 years of professional experience in cost accounting services. The Ahmedabad-based firm specializes in:

• Cost Audits and designing cost audit systems
• Cost record maintenance
• Company law assignments
• Indirect taxation and project finance

The firm's team comprises 6 partners and 12 professional members from cost accounting, chartered accountancy, and commerce backgrounds.

New Joint Statutory Auditor

M/s. G. K. Choksi & Co., recommended for appointment as Joint Statutory Auditor, is an established Chartered Accountancy firm from the early 1990s. The firm operates with a workforce of over 200 personnel, including 8 partners and 72 qualified professionals. Their service portfolio includes:

• Comprehensive audit and taxation services
• Transaction advisory for mergers & acquisitions
• Valuation and due diligence support
• IRFC/Ind AS implementation expertise
• Corporate governance and forensic reviews

The firm serves clients across pharmaceuticals, infrastructure, FMCG, financial services, real estate, information technology, and NBFC sectors.

Appointment Timeline and Approval Process

The re-appointments of internal and cost auditors became effective immediately for Financial Year 2026-27. However, the appointment of G. K. Choksi & Co. as Joint Statutory Auditor requires shareholder approval and will be effective from the conclusion of the 18th Annual General Meeting until the 23rd Annual General Meeting scheduled for 2031.

These appointments demonstrate PSP Projects' commitment to maintaining robust audit oversight across all critical areas of financial and operational compliance.