Latest news with #PSPProjects
Time of India
2 days ago
- Business
- Time of India
Adani Infra buys 21.83% in PSP Projects through a block deal
Mumbai: Adani Infra on Monday purchased a 21.83% stake, or 8.65 million shares, in PSP Projects through a block deal on the BSE at ₹640 a share, or about ₹554 crore. Promoter Prahaladbhai S Patel, who held a 47.76% in the company as on June-end, sold 9.1 million shares at ₹640.01 a piece, show exchange data. It wasn't known who purchased the remaining shares. Adani Infra had in November 2024 signed a definitive deal to acquire up to 30.07% in PSP Projects from Patel. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo
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Business Standard
3 days ago
- Business
- Business Standard
PSP Projects tanks 17%, hits over 2-month low on heavy volumes; here's why
Shares of PSP Projects hit over two-month low of ₹626.6, as they tanked 17 per cent on the BSE in Monday's intra-day trade amid heavy volumes. The stock of the civil construction company is quoting at its lowest level since May 9, 2025. At 10:14 AM, PSP Projects was trading 10 per cent lower at ₹682.90, as compared to a 0.16 per cent rise in the BSE Sensex. A combined 2.09 million equity shares representing 5.3 per cent of the total equity of PSP Projects have changed hands on the NSE and BSE. The stock price of the small-cap company had hit a 52-week high of ₹842.50, touched on July 17, 2025, in anticipation of large order wins from the Adani Group. Track LIVE Stock Market Updates Here PSP Projects Q1 results In the June quarter of the current financial year (Q1FY26), the company reported consolidated revenues of ₹517. 8 crore, down 17 per cent year-on-year (Y-o-Y) and up 23 per cent quarter-on-quarter (Q-o-Q), well below analysts' estimates. Revenue decrease was due to labour shortages and delays in project execution, due to the early monsoon season in Gujarat and seasonal factors such as the wedding season and post-march migration. On the operational front, Ebitda for Q1FY25 was reported at ₹24.8 crore, down 66 per cent Y-o-Y and 23 per cent Q-o-Q. Adjusted profit after tax (PAT) for Q1FY26 stood at ₹37 lakh, down 99 per cent Y-o-Y and 93 per cent. PSP Projects management comments The company has an outstanding order book of ₹6,514 crore, a Y-o-Y growth of 11 per cent. Of the current outstanding order book, Adani projects comprise 27 per cent, and the balance is non-Adani projects. During Q1FY26, the management said the company faced a labour shortage of 37 per cent in the months of April and May 2025. At present, the company is at a 19 per cent labour shortfall. The management said they are confident that this shortfall will further reduce starting August 2025. During the quarter, the employee cost spiralled to 6.8 per cent, which is usually in the range of 4 per cent to 5 per cent. On account of new order wins from Adani, the company has hired employees at various levels. Secondly, the majority of the newly awarded projects that started after March 2025 were all under the initial stage of construction, where the deployment of labour is always on the higher side, while the labour availability was less during the same period. Hence, the company faced a negative impact on its profitability. Corporate strategic partnership The Adani Infra (India), a subsidiary of the Adani Group, has acquired 4.49 million equity shares pursuant to the Open Offer from public, which is representing 11.32 per cent of the paid up equity share capital of the company and further 9.68 million equity shares, representing 24.41 per cent of the paid up share capital of the company to be acquired from promoters of the company. Choice Equity Broking's view on PSP Projects Analysts are not too excited with the way the deal has been structured, with promoter (Mr. Prahladbhai S Patel) selling a sizeable stake (up to 30 per cent shareholding, which is about 50 per cent of his stake) to Adani Infra while minority shareholders did not get an attractive deal. PSP Projects management has indicated that business from the Adani Group will be executed on a cost-plus basis. Adani Group is a cost champion and would strive to get the best deal for its shareholders, which implies potential pressure on the PSP Project's margins, in brokerage view.
Business Standard
30-07-2025
- Business
- Business Standard
PSP Projects consolidated net profit declines 98.79% in the June 2025 quarter
Sales decline 16.90% to Rs 517.76 crore Net profit of PSP Projects declined 98.79% to Rs 0.42 crore in the quarter ended June 2025 as against Rs 34.68 crore during the previous quarter ended June 2024. Sales declined 16.90% to Rs 517.76 crore in the quarter ended June 2025 as against Rs 623.06 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 517.76623.06 -17 OPM % 4.7911.87 - PBDT 17.6264.58 -73 PBT 0.7347.84 -98 NP 0.4234.68 -99
Business Standard
23-05-2025
- Business
- Business Standard
PSP Projects consolidated net profit declines 58.38% in the March 2025 quarter
Sales rise 0.77% to Rs 672.89 crore Net profit of PSP Projects declined 58.38% to Rs 6.46 crore in the quarter ended March 2025 as against Rs 15.52 crore during the previous quarter ended March 2024. Sales rose 0.77% to Rs 672.89 crore in the quarter ended March 2025 as against Rs 667.76 crore during the previous quarter ended March 2024. For the full year,net profit declined 54.12% to Rs 56.42 crore in the year ended March 2025 as against Rs 122.97 crore during the previous year ended March 2024. Sales rose 0.25% to Rs 2512.13 crore in the year ended March 2025 as against Rs 2505.79 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 672.89667.76 1 2512.132505.79 0 OPM % 4.817.89 - 7.1410.41 - PBDT 27.3044.71 -39 152.52234.33 -35 PBT 8.0524.77 -68 79.87169.46 -53 NP 6.4615.52 -58 56.42122.97 -54
Yahoo
03-03-2025
- Business
- Yahoo
PSP Projects secures $200m in construction contracts in India
PSP Projects, an Indian construction company, has announced the acquisition of work orders valued at Rs17.64bn ($200m), excluding taxes, for multiple infrastructure and construction projects in Ahmedabad, Gujarat, India. The first of these contracts is the city-side development project at Ahmedabad Airport, awarded by Adani Airport Holdings, a subsidiary of Adani Enterprises, the flagship company of the Adani Group, with a value of Rs6.47bn. The project is expected to be completed within 18 months. Adani Group, based in Ahmedabad, is a diversified organisation in India with ten publicly traded companies. It has developed a transport and utility infrastructure portfolio with a presence across the country. PSP Projects has also secured the Adani Medicity & Research Center construction project from Vitthal Mandir, valued at Rs4.11bn, with a completion timeline of 24 months. Additional projects include a residential project at Shatigram, Ahmedabad, from Adani Realty, worth Rs1.39bn, scheduled for completion in 22 months. The company will also design and construct a leadership guest house at Shatigram for Adani Enterprises, valued at Rs1.47bn, with an 18-month completion period. Another contract from Adani Enterprises is for a training centre at Shantigram, valued at Rs610.7m, with an 18-month deadline. Additionally, PSP Projects has been tasked with the Airside and Landside Development at Ahmedabad Airport by Ahmedabad International Airport, a project worth Rs2.23bn, set for completion in 12 months. The company will also develop the Vishram Gruh at Asarva Civil Hospital Campus for Sevadaan Arogya Foundation, a private non-profit company, worth Rs510m (excluding goods and services tax (GST)), in the residential category, to be completed within 20 months. Furthermore, PSP Projects reported small-value work orders and amendments totalling Rs822.4m. Including these new projects, the company's total order inflow for financial year 2024-25 (FY24-25) stands at Rs34.78bn, as per the stock exchange filing. PSP Projects was also the lowest bidder for the development of a street in Ahmedabad, worth Rs1.20bn (excluding GST). In March 2024, PSP Projects secured two construction work orders in Gujarat, totalling approximately Rs3.86bn. "PSP Projects secures $200m in construction contracts in India" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
