PSPPROJECT

Current scenario - PSP Projects delivered its highest-ever quarterly and half-yearly revenue in Q2 FY27. - Revenue from operations stood at INR1,113 crores in Q2 FY27, up 58% YoY, and H1 FY27 revenue rose 61% YoY to INR1,967 crores. - Q2 FY27 EBITDA increased by 38% YoY to INR69 crores and profit after tax (PAT) increased by 87% YoY to INR30 crores. - Outstanding order book as of September 30, 2026, stood at INR12,872 crores, representing a 30% YoY growth. - Total workforce strength ranges between 23,000 and 25,000. Changes in trends - Precast technology adoption has enabled faster structural execution, demonstrated by the completion of Project Ninety's RCC structure in 121 days. - Credit limits reduced by INR110 crores during the quarter as they were no longer required; total fund-based utilization stands at INR142 crores and non-fund-based at INR753 crores. - Expected Credit Loss (ECL) provision of INR8 crores was recognized during the quarter for legacy projects/advances. Management Guidance & Outlook - Management maintains its revenue growth guidance of 25% to 35% for FY27, with internal targets pointing towards crossing INR4,000 crores. - Full-year order inflow guidance is maintained in the range of INR5,000 crores plus. - EBITDA margins are expected to remain around 6.5% to 7% in the near term, with potential improvement towards 7.5% to 8% as projects transition from structural to finishing stages. - Capex guidance for FY27 is expected to be around INR100 crores for H2, totaling roughly INR191 crores for the full year, while future annual capex is estimated at 3% to 4% of revenue. Growth Drivers - Strong order book visibility with multiyear execution timelines not exceeding 36 months. - Group projects (primarily Adani Group) account for 72% of the order book, operating on a cost-plus model ensuring secure working capital and reimbursed inflation costs. - Expanding opportunities in tourism infrastructure, airports, data center capabilities, and upcoming government and private projects.

- Audio recording link shared for the Q2FY27 Earnings Conference Call held on November 02, 2026. - The call covered Un-Audited Standalone and Consolidated Financial Results for Q2 and H1 FY27.

Q2 FY27 Consolidated Revenue ₹1,113.24Cr vs ₹702.87Cr (▲58% YoY) EBITDA ₹69.15Cr vs ₹49.93Cr (▲38% YoY) PAT ₹30.11Cr vs ₹16.11Cr (▲87% YoY) EBITDA Margin 6.21% vs 7.10% (▼89bps)

- PSP Projects Limited has announced the shifting of its registered office within the same city, Ahmedabad. - The new registered office address will be PSP Corporate House, “Ninety”, Anand Niketan School Lane, Behind L. J. University, Sanand- Sarkhej Road, Ahmedabad – 382210, Gujarat. - The change is effective from November 04, 2026.

Q2 FY27 Consolidated Revenue ₹1,113.24Cr vs ₹702.86Cr (▲58.4% YoY) EBITDA ₹69.15Cr vs ₹49.93Cr (▲38.5% YoY) PAT ₹30.24Cr vs ₹16.17Cr (▲87.1% YoY) EBITDA Margin 6.21% vs 7.10% (▼89bps)

Concall Schedule Concall Date: Monday, November 02, 2026 Concall Time: 4:00 P.M. (I.S.T.)

- Trading window for dealing in company securities to remain closed from October 01, 2026. - Reopens 48 hours after declaration of unaudited financial results for the quarter and half-year ended September 30, 2026.

- Concall Schedule - Concall Date: Tuesday, 29 September 2026 - Meeting Details: Management of PSP Projects Limited will participate in the PL Capital Mid & Small Cap Conference 2026, "Emerging Titans: Unlocking India's Next Growth Leaders", in-person at Trident BKC, Mumbai. - No unpublished price-sensitive information will be disclosed during these interactions.

- Concall Schedule - Concall Date: Monday, 28 September 2026 - Conference Name: Arihant Capital's Bharat Connect Conference: Rising Stars - Mode: Virtual

- Mr. Shashikant Sharma, General Manager - MEP, resigned from PSP Projects Limited effective September 15, 2026. - The reason for his resignation is cited as "future growth".

- Reiterated FY27 revenue guidance of INR 4,400-4,500 crores (over 25% YoY growth). - Full-year EBITDA margin guidance of 7-8%, with expectations of achieving this from Q2/H2 FY27. - Outstanding order book stands at INR 13,245 crores, reflecting 103% YoY growth. - Expects to become net debt-free with zero finance cost in the next 2-3 quarters. - Bid pipeline of over INR 6,200 crores, with 61% from group projects. - Current order book includes INR 3,000 crores from Dharavi redevelopment projects, with potential for further orders as the first right of refusal.

- Audio recording of the Q1FY27 Earnings Conference Call held on July 30, 2026, to discuss the Un-Audited Standalone & Consolidated Financial Results for Q1FY27 is now available. A link to access the recording has been provided.

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- PSP Projects Limited received ESG ratings for 2026 from Crisil ESG Ratings & Analytics (Adequate) and SES ESG Research (Grade B - Medium risk). - The company clarified it did not engage these agencies, and reports were based on public domain data.

- Concall Schedule for Q1FY27 Unaudited Standalone & Consolidated Financial Results - Concall Date: Thursday, July 30, 2026 - Concall Time: 4:00 P.M. (I.S.T.)