PSP Projects posts ₹183 crore net profit in Q1FY27, up 4,259% YoY
PSP Projects posted a consolidated net profit of ₹183.43 crore in Q1FY27, a 4,259% YoY increase, fueled by a 65% rise in revenue to ₹8,534.73 crore and expanded EBITDA margins. The firm maintains a robust ₹13,245 crore order book and benefits from strategic partnerships, including a significant stake acquisition by Adani Infra.
*this image is generated using AI for illustrative purposes only.
PSP Projects reported a consolidated net profit of ₹183.43 crore for the quarter ended June 30, 2026 (Q1FY27), marking a substantial year-on-year increase from ₹4.23 crore in the corresponding period of FY26. The surge in profitability was primarily driven by robust top-line growth, with revenue from operations rising to ₹8,534.73 crore from ₹5,177.63 crore, alongside improved operating efficiency that expanded EBITDA margins by 160 basis points to 6.4%. This performance underscores strong business momentum and effective cost management within its construction and project activities segment, supported by a diversified order book of ₹13,245 crore as of June 30, 2026.
The Board of Directors approved the unaudited standalone and consolidated financial results during a meeting held on July 30, 2026, in compliance with Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the joint statutory auditors, Kantilal Patel & Co. and G.K. Choksi & Co., pursuant to Standard on Review Engagements (SRE) 2410. The company disclosed that the figures for the quarter ended March 31, 2026, represent balancing figures between audited full-year results and unaudited year-to-date figures.
Financial Performance Highlights
Consolidated revenue from operations reached ₹8,534.73 crore, reflecting a 64.8% increase compared to ₹5,177.63 crore in Q1FY26. Other income remained stable at ₹405.61 crore, slightly up from ₹399.69 crore previously. Total income for the group stood at ₹8,575.29 crore against ₹5,217.59 crore in the prior year period. On the expense side, cost of construction material consumed increased to ₹2,466.28 crore from ₹2,006.48 crore, while construction expenses rose significantly to ₹4,339.94 crore from ₹2,521.30 crore, aligning with the higher revenue volume.
| Metric: | Q1FY27 (₹ Cr) | Q1FY26 (₹ Cr) | YoY Change |
|---|---|---|---|
| Revenue from Operations | 8,534.73 | 5,177.63 | +64.8% |
| Net Profit After Tax | 183.43 | 4.23 | +4,259% |
| EBITDA | 548.00 | 248.00 | +121.0% |
| EBITDA Margin | 6.4% | 4.8% | +160 bps |
Standalone net profit also saw a dramatic improvement, reaching ₹151.59 crore from ₹1.89 crore in the same quarter last year. Standalone revenue from operations grew to ₹7,852.96 crore from ₹5,127.59 crore. The earnings per share (EPS) on a consolidated basis stood at ₹4.63, a significant jump from ₹0.11 in Q1FY26. Similarly, standalone basic EPS rose to ₹3.82 from ₹0.05.
Operational Efficiency and Margins
EBITDA more than doubled to ₹548.00 crore from ₹248.00 crore, indicating enhanced operational leverage. The expansion in EBITDA margin to 6.4% from 4.8% suggests that the company successfully managed input costs and project execution efficiencies despite higher material and construction expenses. Finance costs decreased to ₹75.37 crore from ₹111.73 crore, contributing positively to the bottom line. Tax expenses for the quarter were ₹99.08 crore, including current tax of ₹124.49 crore and deferred tax benefit of ₹25.41 crore.
Strategic Positioning and Order Book
The company’s growth is underpinned by a well-diversified order book of ₹13,245 crore across public and private segments as of June 30, 2026. This visibility supports medium-term revenue stability. PSP Projects has strengthened its market position through strategic partnerships, notably with Adani Infra (India) Limited, which acquired a 34.41% stake via an Open Offer and Share Purchase Agreement, joining the promoter group. This alliance aims to accelerate growth and enhance governance. Additionally, the company continues to expand its precast concrete manufacturing capabilities, commissioned in December 2021, to drive speed, quality, and scale in infrastructure projects such as the National High Speed Rail project.
What the Numbers Show
The disproportionate rise in net profit relative to revenue growth highlights a critical inflection point in PSP Projects’ operational scale. With EBITDA margins expanding significantly while finance costs declined, the company is demonstrating improved capital efficiency. The inclusion of results from subsidiaries like PSP Construction Solutions Private Limited and PSP Foundation, along with a joint venture interest in GDCL and PSP Joint Venture, contributes to the consolidated strength. However, the sharp increase in construction expenses warrants monitoring to ensure margin sustainability as project volumes continue to scale.
Historical Stock Returns for PSP Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -7.20% | -10.05% | -2.95% | +24.93% | +18.96% | +101.06% |
How will the integration of Adani Infra's 34.41% stake impact PSP Projects' future capital allocation strategies and governance structure?
Given the 64.8% revenue surge, what specific measures is management implementing to ensure EBITDA margins remain sustainable above 6.4% as construction expenses scale?
What percentage of the ₹13,245 crore order book is expected to contribute to revenue in the next two fiscal years, and how diversified is it across public versus private sectors?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
