PSP Projects (PSPPROJECT) Q4 25/26 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue in Q4FY26, with FY26 revenue up 25% year-over-year and Q4FY26 revenue up 66% year-over-year.

• Consolidated revenue for FY26 was ₹316,592.07 lakh, up from ₹252,944.49 lakh year-over-year.

• Order book reached ₹13,447 crore as of March 31, 2026, an 85% increase year-over-year, with 67% from within-group projects and 33% external.

• Strategic partnership with Adani Infra, now holding 34.41% stake, expected to drive significant order inflow and strengthen financial risk profile.

• Major execution milestone: Project Ninety (precast) completed in 148 days, showcasing technological advancement.

Financial highlights

• Q4FY26 revenue from operations: ₹1,11,524 lakh, up 66% year-over-year; EBITDA: ₹5,980 lakh, up 85% year-over-year; PAT: ₹2,107 lakh, up 234% year-over-year.

• FY26 revenue from operations: ₹3,149 crore, up 25% year-over-year; EBITDA: ₹18,905 lakh, up 5%; PAT: ₹5,501 lakh, down 2%.

• Net profit after tax and share of joint ventures for FY26 was ₹5,551.58 lakh, compared to ₹5,641.80 lakh in the previous year.

• EBITDA for the year was supported by higher depreciation (₹8,656.92 lakh) and finance costs (₹4,523.80 lakh).

• Earnings per share for FY26: ₹14.00.

Outlook and guidance

• Positioned for robust growth with a strong order book and anticipated order inflows from Adani Group’s infrastructure pipeline.

• The group continues to monitor the impact of new Labour Codes effective from November 21, 2025, and has recognized related employee benefit expenses.

• Focus remains on timely project execution, quality, and leveraging precast technology for efficiency.

• Further impact of Labour Codes will be assessed as supporting rules and clarifications are finalized.