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PSP Projects - Eyes In The Sky With Feet On The Ground: IDBI Capital Initiates Coverage

PSP Projects - Eyes In The Sky With Feet On The Ground: IDBI Capital Initiates Coverage

<div class="paragraphs"><p>A residential property developed by PSP Projects Ltd. (Source Company website)</p></div>
A residential property developed by PSP Projects Ltd. (Source Company website)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

PSP Projects Ltd. a civil contractor, executing a modest Rs 100-150 million ticket size order a decade back, now undertakes complete engineering procurement and construction (with civil, mechanical, electrical and plumbing, design) of an order size of Rs 15-20 billion.

Company specialises in building segment (factories, hospital, offices, residential) and has expanded its operations from Gujarat, to west and north regions of India.

PSP Projects, a beneficiary of industrial capex in India, now boast an order book of Rs 42 billion (three times FY21 revenue).

Key positives in PSP Projects: execution ability with stable cash flow, lean balance sheet for growth and high double digit return on equity at 20%.

Click on the attachment to read the full report:

IDBI Capital PSP Projects Initiating Coverage.pdf

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