Rs 5,321 crore order book: This multibagger civil construction company reports stellar quarterly results; do you own it?
The stock is up by 28 per cent in 1 year and over 90 per cent in 3 years.
PSP Projects Ltd, a leading civil construction company in India, announced its Quarterly Results and order book ended June 30, 2023. Details below:
Consolidated Quarterly Results (Q1FY24 vs Q1FY23)
- The net sales increased by 47.56 per cent to Rs 513.63 crore in Q1FY24 compared to Rs 348.08 crore in Q1FY23.
- The operating profit increased by 34.39 per cent to Rs 71.84 crore in Q1FY24 compared to Rs 53.45 crore in Q1FY23.
- The net profit increased by 30.33 per cent to Rs 37.83 crore in Q1FY24 compared to Rs 29.03 crore in Q1FY23.
- The EPS for Q1FY24 stood at Rs 10.51 compared to EPS of Rs 8.07 in Q1FY23, an increase of 30.34 per cent.
Additionally, as of June 30, 2023, the company’s order book stands at Rs 5,321 crore, a total of 210 projects were completed and 48 projects are ongoing.
PSP Projects Limited is a construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India. It is also engaged in the real estate development of two mid-scale projects in the USA through its subsidiaries. The company had a market cap of over Rs 2,800 crore.
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On Friday, shares of PSP Projects Ltd plunged 2.26 per cent to Rs 781.10 per share with an intraday high of Rs 800.95 and a low of Rs 777.55. The company's shares are trading at a PE of 19.91x whereas the sectoral PE is 35.50x and an ROE of 25 per cent, all of which indicate strong managerial performance.
The stock is up by 28 per cent in 1 year and over 90 per cent in 3 years. From Rs 217.50 per share to Rs 800.95 per share, the stock gave multibagger returns of 268.25 per cent since the stock is listed on the exchanges (June 02, 2017 – BSE Scrip Code: 540544; NSE Scrip Code: PSPPROJECT). Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice