Reviews

PSP PROJECTS 

{Ticker : 540544
{ FV: Rs.10
{ 52-Week H/L: Rs.617/379.45



We had recommended PSP Projects in volume no. 35, issue no. 49 (dated September 30, 2019), when the scrip was trading at Rs 569.60. The stock was recommended based on its robust order book and impressive Q1FY20 results. PSP Projects is a civil construction company engaged in the business of making investments in partnerships or special purpose vehicles for development of townships, construction of residential-commercial premises and roads. On a consolidated quarterly front, net sales grew by 47.18 per cent to Rs 312.11 crore in Q2FY20, from Rs 212.06 crore in Q2FY19. Operating profit for Q2FY20 was reported at Rs 39.95 crore, up by 51.39 per cent from Rs 26.39 crore, in Q2FY19. Net profit saw a growth of 87.85 per cent to Rs 32.46 crore in Q2FY20, from Rs 17.28 crore in Q2FY19. The government's continued thrust on affordable housing and robust institutional demand is likely to bode well for PSP Projects. Thus, we recommend a HOLD.