SECTOR: CONSTRUCTION & CONTRACTING
PSP Projects
Established in 2008, PSP Projects has a proven
track record in delivering projects on time and with
quality in diverse industry segments. The company
enjoys a strong presence in Gujarat with gradual
expansions in western and southern India. PS Patel,
Chairman, Managing Director & CEO, PSP
Projects, shares more…
One major challenge faced in FY2018-19: During the previous year (FY 2017-18), the company bagged its largest construction contract: A single Rs.15.75-billion contract to construct Surat Diamond Bourse (a turnkey project of 6.6 million sq ft). It was an achievement for the company on one end; but was also the biggest challenge – while our earlier biggest executed project was just Rs.2.33 billion – to complete this project in 30 months. As a result of detailed milestone planning, resource management and involvement by top management, the company has so far achieved an exceptional work progress at site. We are confident that the project will be handed over to the client on time as desired.
One decision you consider the biggest contributor to the company’s growth in FY2018-19: In FY18- 19, the company booked its highest ever revenue at Rs.10.44 billion and net profit at Rs.0.90 billion, since inception. The biggest contributor that made this possible is our Surat Diamond Bourse project. The company has booked about Rs.3.55 billion turnover from this project itself.
Plans for growth in FY2019-20: PSP Projects has shown consistent growth of around 35-40 per cent since inception.
Looking into the order book, we aim to achieve the same growth rate as a minimum, which can take the company’s turnover to Rs.20 billion in the coming couple of fiscals.
The company will look forward to getting more suitable opportunities outside Gujarat.
