Shares of one of the leading Realty developers in India jumped 6 percent in the day’s trade after it declared its quarter ended September (Q2FY24) results with a jump in Revenue and Net Profit by 72.13 percent and 78.78 percent year-on-year.
At 2:37 p.m the shares of PSP Projects Limited were trading at Rs. 771.20 per share, up 5.77 percent from its previous day close price of Rs. 731 and its market capitalization is Rs. 2,776 Crores.
As per the company’s filing, PSP Projects Limited has announced their quarter ended September (Q2FY24) results and it is as follows
Its Revenue grew 72.13 percent YoY from Rs. 359.98 Crores in Q2FY23 to Rs. 619.65 Crores in Q2FY24 and it grew 20.63 percent YoY from Rs. 513.62 Crores in Q1FY24 to Rs. 619.65 Crores in Q2FY24.
Its Net Profit grew 78.78 percent YoY from Rs. 21.54 Crores in Q2FY23 to Rs. 38.51 Crores in Q2FY24 and it grew 1.77 QoQ from Rs. 37.84 Crores in Q1FY24 to Rs. 38.51 Crores in Q2FY24.
As of September 2023, PSP Projects Limited has a strong order book of Rs. 4,898 crore
As per the company’s financial statements its revenue grew 10.85 percent from Rs. 1,748.06 Crores in FY22 to Rs. 1,937.81 Crores in FY23, accompanied by decreasing profits of Rs. 166.65 Crores to Rs. 131.94 Crores.
It has reported a return on equity (ROE) of 18.1 percent and a return on capital employed (ROCE) of 24.83 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 66.22 percent stake, the Domestic Institutional Investors hold 5.36 percent and the Foreign Institutional Investors (FII) hold 4.23 percent.
PSP Projects operates in the domain of Realty and it offers a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India.
Written by: Bharath K.S
