PSP Projects Q2 FY27 Results: Consolidated Net Profit ₹30.24 Crore on Total Income of ₹1,118 Crore
- Earnings
- construction and project management
Reviewed byKeshav SehgalBlacklitt Research
PSP Projects (NSE: PSPPROJECT) reported consolidated total income of ₹1,118.14 crore and net profit of ₹30.24 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone total income was ₹1,014.32 crore and standalone net profit ₹29.05 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,118.14 crore, up 58.2% YoY and 30.4% QoQ
- Net profit and EPS: ₹30.24 crore, up 87.1% YoY; basic EPS ₹7.63
- Finance costs: ₹7.66 crore, down 36.1% YoY and up 1.7% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,014.32 crore, up 45.4% YoY and 28.5% QoQ
- Net profit and EPS: ₹29.05 crore, up 95.1% YoY; basic EPS ₹7.33
- Finance costs: ₹7.63 crore, down 36.4% YoY and up 1.2% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,118.14 | 706.98 | +58.2% | 857.53 | +30.4% | |
| Revenue from operations | 1,113.24 | 702.86 | +58.4% | 853.47 | +30.4% |
| Other income | 4.91 | 4.11 | +19.3% | 4.06 | +20.9% |
| 30.24 | 16.16 | +87.1% | 18.34 | +64.9% | |
| Profit before tax | 40.14 | 22.39 | +79.3% | 28.25 | +42.1% |
| Finance costs | 7.66 | 12.00 | -36.1% | 7.54 | +1.7% |
| Depreciation | 26.25 | 19.65 | +33.6% | 23.07 | +13.8% |
| Tax expense | 9.89 | 6.22 | +59.0% | 9.91 | -0.1% |
| Net profit margin | 2.70% | 2.29% | +0.42 pp | 2.14% | +0.57 pp |
| EPS, basic (₹) | 7.63 | 4.10 | +86.1% | 4.53 | +68.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than income. Net profit rose 87.1% year on year to ₹30.24 crore, while total income rose 58.2% to ₹1,118.14 crore.
Finance costs fell 36.1% year on year to ₹7.66 crore, which is 0.7% of total income. Other income of ₹4.91 crore is 12.2% of profit before tax of ₹40.14 crore, so the two lines set side by side show that other income is a small part of pre-tax profit this quarter.
The statement's exceptional items line is blank for the quarter. Revenue from operations of ₹1,113.24 crore is 99.6% of total income. The filing says the consolidated results include PSP Construction Solutions Private Limited and PSP Foundation as subsidiaries, and GDCL and PSP Joint Venture (49% ownership) as a joint venture; the auditors' review notes that the two subsidiaries had total revenue of INR 11,573.41 lakhs for the quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,014.32 | 697.80 | +45.4% | 789.40 | +28.5% | |
| Revenue from operations | 1,009.13 | 693.63 | +45.5% | 785.30 | +28.5% |
| Other income | 5.19 | 4.11 | +26.3% | 4.10 | +26.5% |
| 29.05 | 14.89 | +95.1% | 15.16 | +91.6% | |
| Profit before tax | 38.62 | 20.56 | +87.8% | 24.00 | +60.9% |
| Finance costs | 7.63 | 12.00 | -36.4% | 7.54 | +1.2% |
| Depreciation | 26.29 | 19.64 | +33.9% | 23.09 | +13.9% |
| Tax expense | 9.57 | 5.68 | +68.6% | 8.84 | +8.3% |
| Net profit margin | 2.86% | 2.13% | +0.73 pp | 1.92% | +0.94 pp |
| EPS, basic (₹) | 7.33 | 3.76 | +94.9% | 3.82 | +91.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 95.1% year on year to ₹29.05 crore, faster than the 45.4% rise in total income to ₹1,014.32 crore and the 87.8% rise in profit before tax to ₹38.62 crore. Standalone net profit was ₹1.19 crore below consolidated net profit for the quarter.
Standalone finance costs were ₹7.63 crore, 0.8% of total income. Other income of ₹5.19 crore is 13.4% of profit before tax of ₹38.62 crore, and tax expense of ₹9.57 crore is 24.8% of that pre-tax figure. Standalone EPS on a basic basis was ₹7.33 against ₹3.76 a year earlier.
The company says it is primarily engaged in one business segment, construction and project activities including trading of construction materials. The auditors' review reports, dated 2 Nov 2026, carry no modification; the corresponding figures for the year-earlier quarter were jointly audited by Kantilal Patel & Co. and Prakash B. Sheth & Co. with an unmodified conclusion.
The filing does not give the reason for the profit rise, and it does not say whether a dividend has been declared with these results.
Inference
The Board also approved shifting the registered office from PSP House, Ahmedabad to PSP Corporate House, Sanand-Sarkhej Road, Ahmedabad, with effect from 4 Nov 2026, within the same city.
The filing does not say why the profit rose this quarter or whether a dividend will be declared; a reader would also want to know the purpose of the office move, which the filing does not state beyond the change of address.
Filed with BSE on . Reference: Original filing (PDF)
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