What was PSP Projects's revenue in Q4 FY26?

PSP Projects reported revenue of ₹1,115 Cr in Q4 FY26, a +66% change year-over-year.

Did PSP Projects management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

PSP Projects Q4 FY26 Research Workspace: Revenue ₹1,115 Cr (+66%)

Q: What guidance did PSP Projects management give?

FY27 Revenue Target of ₹4,500 Cr: Management reiterated revenue guidance of ₹4,500 crore for FY27, implying ~43% growth over FY26.

Revenue ₹1,115 Cr +66%

EBITDA ₹60 Cr +85%

PAT ₹21 Cr +234%

EBITDA Margin 5.36% +55bps

Duration 51 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

PSP Projects delivered a stellar Q4 FY26 with revenue surging 66% YoY to ₹1,115 crore, driven by accelerated execution across institutional, industrial, and government projects. EBITDA grew 85% YoY to ₹60 crore, with margin expanding 55 bps to 5.36%, while PAT jumped 234% YoY to ₹21 crore. The full-year revenue rose 25% to ₹3,149 crore, though EBITDA margin contracted to 6% due to a one-off ECL provision of ₹29 crore on the Kashi project. The order book swelled 85% YoY to ₹13,447 crore, supported by record order inflows of ₹10,925 crore, largely from the Adani group. Management guided for FY27 revenue of ₹4,500 crore and EBITDA margins of 7-8%, with potential for further improvement as interest costs decline. Key risks include execution delays on large projects and potential further provisions on the Kashi project.

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Research workspace

Focused Modules

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Risk Intelligence

Execution Delays on Large Projects

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Quarter Snapshot

Order Book ₹13,447 Cr

+85% YoY

Outstanding order book as of March 31, 2026, providing multi-year revenue visibility.

Order Inflow ₹10,925 Cr

Record high

Highest ever order inflow in FY26, with 85% from Adani group projects.

Bid Pipeline ₹6,600 Cr

N/A

Current bid pipeline includes ₹5,000 Cr from group projects and ₹1,500 Cr from external.

Working Capital Days 94 days

Target 60-70 days

Management expects working capital days to reduce to 60-70 days in FY27 due to favorable payment terms.

Fast read

Guidance and risk preview

Top guidance FY27 Revenue Target of ₹4,500 Cr

Management reiterated revenue guidance of ₹4,500 crore for FY27, implying ~43% growth over FY26.

Top risk Execution Delays on Large Projects

Projects in Mumbai face delays due to land clearance and foundation issues, which could impact revenue recognition.