Transcript of Earning Conference Call of Q1FY27

Ref No: PSPPROJECT/SE/29/26‐27 August 05, 2026 Corporate Relations Department Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P.J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai- 400 001 Bandra (East), Mumbai – 400 051 Scrip code: 540544 Scrip Symbol: PSPPROJECT Dear Sir/Madam, Subject: Transcript of Earnings Conference Call – Q1FY27 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of transcript of Q1FY27 Earnings Conference Call held on Thursday, July 30, 2026. This is for your information and record. Thanking You, Yours faithfully, For, PSP Projects Limited Pooja Dhruve Company Secretary and Compliance Officer Membership No.: A48396 Encl: As Above “PSP Projects Limited Q1 FY27 Earnings Conference Call” July 30, 2026 MANAGEMENT: MR. PRAHALADBHAI PATEL – CHAIRMAN AND MANAGING DIRECTOR MS. POOJA PATEL – CHIEF EXECUTIVE OFFICER MS. HETAL PATEL – CHIEF FINANCIAL OFFICER MODERATOR: MS. KRISHNA PATEL – ERNST & YOUNG Page 1 of 15 PSP Projects Limited July 30, 2026 Moderator: Ladies and gentlemen, good day and welcome to PSP Projects Q1 FY27 Earnings Conference Call hosted by Ernst & Young. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Krishna Patel from Ernst & Young. Thank you, and over to you. Krishna Patel: Thank you, Nitya. And good evening, everyone. Welcome you all to PSP Projects Limited Q1 FY27 Earnings Conference Call. To take us through the results and to answer your questions, we have with us the management of PSP Projects represented by Mr. Prahaladbhai Patel, the Chairman and MD; Ms. Pooja Patel, the CEO; and Ms. Hetal Patel, the CFO. Please note that the discussions that we may have today may contain certain forward-looking statements relating to the future events and future performance. Numerous factors could cause actual results to differ materially from those in the forward-looking statements. Please note the audio of this earnings call is the copyright material of PSP Projects and cannot be copied, rebroadcasted, attributed in press media without specific written consent of the company. With this, I hand over the call to Ms. Pooja Patel, the CEO for her opening comments. Thank you, and over to you, Pooja. Pooja Patel: Thank you, Krishna, for the introduction. Good day, everyone, and thank you for joining us for PSP Projects' Q1FY27 Earnings Call. As of 30th June, 2026, our outstanding order book stood at INR13,245 crores, reflecting our robust 103% year-on-year growth and providing us with a strong multi-year revenue visibility of our total order book, within-group projects account for approximately 70%, while external projects contribute to remaining 30%. The first quarter is traditionally a challenging period for the construction industry due to seasonal factors, including labor migration during festivals and wedding season, as well as the initial onset of monsoon. Despite these industry-wide challenges, PSP delivered a strong 65% year-on- year revenue growth during Q1FY27. Our performance demonstrates the strength of our execution capability and the progress achieved across key projects. Importantly, most of our major projects have now moved beyond the initial stage involving excavation and underground works, and entering the core construction phase, enabling improved execution momentum. During the quarter, we deployed a workforce of over 16,000 labor across project sites, reflecting the scale of our operation and execution readiness. As labor availability normalizes in the coming quarters, we expect construction activities and project execution to gain further traction. I would also like to highlight our continued investment in strengthening organizational capabilities. The increase in employee cost during the quarter reflects our strategic focus on enhancing leadership and project management bandwidth across various levels of the organization. We have expanded our team across key functions and geographies to ensure we are well-positioned Page 2 of 15 PSP Projects Limited July 30, 2026 to manage a significantly large project portfolio while maintaining our commitment to timely delivery, quality execution, and operational excellence. During the quarter, the company successfully completed six projects and receiving order inflows of INR630 crores, with 93% order from Adani Group. Major orders are:  Adani Healthcare and Research Foundation project Mumbai  Airport office building at T1 Mumbai,  Refurbishment of port user building Mundra,  Construction of skilled accommodation at Green PVC project Mundra. The order book is diversified, with industrial projects comprising of 39%, residential projects 37%, government projects 23%, and institutional project approximately 1%. Our current order book, please make note of key projects and their outstanding contract values:  Shree Ambaji Mata Temple, INR962 crores;  SMC High-Rise Building, INR693 crores;  Construction of FinTech building at GIFT City Gujarat, INR259 crores;  Human Biological Science Gallery at Science City, INR248 crores;  Biggest residential project in GIFT City, INR202 crores;  Development of Dharoi Dam region, INR198 crores;  Sabarmati Riverfront Development Phase 2, INR187 crores. The bid pipeline is INR6,200 plus crores with 61% group projects and 39% external projects. Now let me share certain project-level updates.  SMC core and shell activity has been completed, and now full-fledged MEP, interior works, and facade work is going on.  RVNL, out of three buildings, two buildings will be handed over soon, and hospital building RCC is completed,  MEP, interior works, and facade work is going on. Ahmedabad Airport and cityside development, we are at a different level for RCC work going on in full swing.  Ambaji Mata Temple, we are at excavation level and some of the buildings are in footing level. With this, I now hand over the call to Hetal mam to share the financials in further details. Hetal Patel: Thank you, mam. Good afternoon, everyone. We'll brief you about consolidated financial performance for the quarter ended 30th June, '26. Q1FY27 versus Q1FY26. Revenue from operations for the quarter is INR853 crores versus INR518 crores, which is increased by 65% on YoY basis. Page 3 of 15 PSP Projects Limited July 30, 2026 EBITDA for the quarter is at INR55 crores versus INR25 crores, increased by 121% on YoY basis. EBITDA margin is at 6.42% versus 4.79%. Net profit for the quarter is INR18 crores versus INR37 lakhs, which is increased by almost 50 times YoY basis. Net profit margin is 2.12% versus 0.07%. During the quarter under review, employee costs increased from INR35 crores to INR46 crores, which is mainly on account of annual increments processed in April month and increase in number of employees from 2,400 almost to 2,600. Increase in depreciation from INR17 crores to INR26 crores is mainly attributable to additions in asset block during FY26 as well as in Q1FY27. During Q1FY27, company has incurred capex of INR28 crores. Gross block is at INR793 crores as on 30th June, '26, and net block is INR470 crores. Would like to mention few of the important standalone balance sheet numbers as on 30th June, '26. - Long-term borrowing is INR38 crores, which includes short-term maturities of INR19 crores; - Short-term borrowing INR217 crores, which is excluding short-term maturities of INR19 crores. - Net unbilled revenue is INR473 crores. - Trade receivables are at INR745 crores. - Trade payables are INR356 crores. - Retention, long-term and short-term, INR222 crores. - Mobilization a [Showing first 8,000 characters — download PDF for full document]