PSP Projects

What PSP Projects does

PSP Projects Limited (NSE: PSPPROJECT, BSE: 540544) is a publicly listed, multidisciplinary construction company headquartered in Ahmedabad, Gujarat, incorporated in August 2008 and listed since October 2017. The company delivers end-to-end engineering, procurement, and construction (EPC) services across industrial, institutional, government, government residential, and residential segments, executing projects through competitive tendering and direct client engagement primarily in India. Its core service offerings span civil construction, mechanical-electrical-plumbing (MEP) work, building renovation, and interior fitouts, with a specialized PSP Precast division in Sanand producing prefabricated concrete elements (beams, columns, slabs, walls, I-girders, facades, and foundations) as turnkey systems covering technical, design, logistics, and assembly services. Marquee projects include the Surat Diamond Bourse (world's biggest office complex, Rs 1,575 crore contract value, 66 lakh sq ft built-up area), the Kashi Vishwanath Corridor in Uttar Pradesh, the BSE building, IIM Ahmedabad campus, the Sabarmati Riverfront development, and the Museum at Vadnagar.

PSP Projects serves marquee clients across pharmaceuticals (Zydus Cadila, Torrent Pharmaceuticals, Cadila Healthcare, Intas, Emcure, Claris Lifesciences, Aculife), institutional (BSE, IIM Ahmedabad, CEPT University, Nirma University, CIMS Hospital), government (Government of Gujarat, Government of Uttar Pradesh, Gujarat Vidhansabha, Gujarat Housing Board, BNCMC), and real estate (Hiranandani, Brigade, Prestige, Surat Diamond Bourse). FY26 consolidated sales reached Rs 3,148.66 crore (up 25.34% YoY), with Q4 FY26 consolidated sales of Rs 1,115.24 crore (up 65.74% YoY). The company holds ISO 9001/14001/45001 certifications, a CARE A+ Stable/A1 credit rating, and operates from offices in Ahmedabad (headquarters), Mumbai, and a Sanand precast manufacturing facility.

Adani Infra (India) Ltd, the infrastructure arm of the Adani Group, acquired a 34.41% controlling promoter stake in 2024 through a Share Purchase Agreement and Open Offer, designating PSP as the Adani Group's in-house infrastructure execution arm. The company also raised Rs 244 crore via a QIP in April 2024 with Fidelity, ICICI Prudential, LIC, UTI, and Societe Generale. Chairman and Managing Director Prahaladbhai S. Patel (39+ years of industry experience) leads a workforce of 1,001–5,000, with Executive Director Sagar Patel overseeing the PSP Precast business. Revenue is project-based, contract-driven, and recognized as projects are executed across long EPC cycles.

Name

PSP Projects

Legal name

PSP Projects Limited

Website

https://www.pspprojects.com/

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PSP Projects Limited is an India-listed multidisciplinary EPC construction company based in Ahmedabad, executing industrial, institutional, government, and residential projects across India, with a PSP Precast prefab concrete division and a 34.41% Adani Group promoter stake.

Ownership category

akta.pro rank

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. EPC/Construction Project Revenue: PSP Projects generates revenue primarily through long-cycle engineering, procurement, and construction (EPC) projects across industrial, institutional, government, government residential, and residential segments. Revenue is project-based and earned as projects are executed, with income derived from construction contract values spanning planning, design, construction, MEP work, and interior fitouts. Full year FY26 (ended March 2026) consolidated sales reached Rs 3,148.66 crore, with Q4 FY26 consolidated net sales of Rs 1,115.24 crore.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PSP Projects Limited is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India. The company provides services across the construction value chain ranging from planning and design to construction and post-construction activities, including civil construction, MEP (mechanical, electrical & plumbing) work, building renovation, and interior fitouts. It also operates a PSP Precast division producing prefabricated concrete elements (beams, columns, slabs, walls, staircases, facades, foundations, girders) for building and industrial construction.

Product overview

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential, and residential projects in India. The company provides services across the construction value chain, from planning and design to construction and post-construction activities, including MEP work and interior fitouts. Their portfolio includes four core service offerings: Civil Construction, MEP Services, Building Renovation, and Interior Fitouts. Additionally, the company operates a Precast Division that produces prefabricated concrete systems for both building and industrial construction, offering elements such as beams, columns, facades, foundations, slabs, stair cases, walls, and girders as turnkey solutions. The company also handles turnkey solutions, technical, design, logistics, and assembly services.

Differentiator

Problem solved

Functional benefit

Brands

• PSP Precast: Prefabricated concrete systems division offering turnkey solutions, technical, design, logistics, and assembly services for pre-casted elements.

Products and services

• Civil Construction Services Comprehensive civil construction work from excavation to finishing with external development for residential complexes, commercial complexes, infrastructure, pharmaceutical, and industrial buildings.
• Mechanical, Electrical & Plumbing (MEP) Services Complete MEP services including HVAC (Air conditioning), BMS, Electrical, Low voltage, security systems, plumbing, firefighting, and fire alarm systems for buildings and industrial facilities.
• Building Renovation Building renovation, retrofitting, and repair of existing buildings including civil work, interior furnishing, and all MEP works with high quality craftsmanship.
• Interior Fitouts Interior furnishing services including flooring, false ceiling, painting, furniture (custom made or bought out), curtains, and internal signage for commercial, institutional, and residential projects.
• PSP Precast - Prefabricated Concrete Systems Prefabricated concrete systems providing turnkey solutions covering technical, design, logistics, and assembly services. Products include precast beams, columns, slabs, walls, staircases, facades, foundations, I-girders, footings, plinth beams, tie beams, pre-stressed beams, hollow core slabs, and architectural walls for both building and industrial construction.

Quantifiable outcome

• Surat Diamond Bourse — world's biggest office complex with contract value of Rs 1,575 crore and 66 lakh sq ft built-up area
• +3 more outcomes

Named customers33 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• TrilegalcoreImplementation/ SI/ Consulting Partner · 1 April 2024Trilegal acted as legal advisor to PSP Projects Ltd and the placement agents for the INR 2,440 million Qualified Institutions Placement (QIP) of equity shares in India. Trilegal advised on all legal aspects of the transaction including regulatory compliance and documentation.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Ahluwalia Contracts (India) Ltd: Mumbai-based multidisciplinary EPC contractor focused on institutional, commercial, and government building construction (hospitals, metro stations, hotels, offices). Highly comparable to PSP in scale (revenue in similar Rs 2,000-3,000 crore band), customer mix, and project type, with the same competitive bidding dynamic.
• NCC Limited: One of India's largest listed construction companies, executing buildings, infrastructure, water, and electrical EPC projects across India. A direct peer in institutional and government building construction with comparable marquee-project bidding dynamic, though at significantly larger scale than PSP.
• Capacit'e Infraprojects: Mumbai-based EPC focused on high-end residential, commercial, and institutional building construction. Highly comparable customer mix (developers, institutions) and project-type profile to PSP's non-industrial building segment.
• Dilip Buildcon: Bhopal-based EPC with strengths in roads, bridges, and urban infrastructure but also executing institutional and government building projects. Comparable as a publicly listed mid-cap Indian construction company competing in similar government/institutional tenders.
• B.L. Kashyap & Sons: Delhi-NCR-based EPC contractor for commercial, institutional, and IT/ITES building construction. Similar mid-sized, listed profile with comparable customer mix of developers, corporates, and government clients.
• JMC Projects (India): Kalpataru Group company executing buildings and factories (B&F) and infrastructure EPC. Highly comparable B&F-focused business model and customer overlap with PSP's industrial and institutional building segments.
• H.G. Infra Engineering: Jaipur-based EPC contractor with strong presence in roads, highways, and bridges but also executing civil/institutional construction. Comparable mid-cap, listed Indian construction company competing in similar government tenders.
• Ashoka Buildcon: Nashik-based EPC with roads/highways as core but also executing buildings and power transmission. Comparable listed mid-cap Indian construction company competing for state and central government projects.

Broad incumbents

• Larsen & Toubro (L&T Construction): India's largest EPC conglomerate with a construction division covering buildings, factories, heavy civil, and infrastructure across India and overseas. The dominant incumbent in the marquee-project tenders PSP competes for (e.g., Surat Diamond Bourse, Kashi Vishwanath-class projects), setting the competitive ceiling.

Regional players

• Sadbhav Engineering: Ahmedabad-based EPC contractor with strong presence in western India executing roads, irrigation, and mining infrastructure. Closely comparable to PSP's Gujarat heritage and western-India footprint, though more weighted toward transport EPC than buildings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/pspprojectsltd
• LinkedInlinkedin.com/company/psp-projects-ltd-

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PSP Projects