Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

PSP Projects Limited Earnings Release 2024

Feb 9, 2024

61476_rns_2024-02-09_0504166b-09a7-417d-929d-fb8fe0776603.pdf

Earnings Release

Open in viewer

Opens in your device viewer

1 v 'BP~ pSP Projects Limited , ISO 9001 : 2015, 14001 : 2015,45001 : 2018 Certified Company

l

PSP

Ref No: PSPPROJECT/SE/79/23-24 Corporate Relations Department BSE Limited Floor 25, P.}.Towers, Dalal Street, Mumbai- 400 001 Scrip code: 540544 Dear Sir/Madam,

February 9, 2024

,

Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051 Scrip Symbol: PSPPRO}ECT

Subject: Outcome of Board meeting

Pursuant to Regulation 30, 33 and other applicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with reference to our earlier intimation vide ref. no. PSPPROJECT/SE/77 /23-24 dated February 01, 2024, we hereby inform that, the board of directors, at their meeting held today i.e. February 9, 2024, have inter-alia:

    1. Approved Unaudited Standalone & Consolidated Financial Results as per Indian Accounting Standards (Ind AS) for the quarter and nine months ended December 31, 2023;
    1. Approved raising of funds and to create, offer, issue, and allot such number of equity shares having face value of Rs. 10 each of the Company ("Equity Shares") and/or equity linked instruments, including further public offer, rights issue, American Depository Receipts/Global Depository Receipts, Foreign Currency Convertible Bonds, non-convertible debt instruments along with warrants, fully convertible debentures, partly convertible debentures, and/or any other securities convertible into equity shares (including warrants or otherwise), by way of Qualified Institutions Placement, debt issue, preferential issue, or any other permissible mode or combinations thereof, in one or more tranches, for an aggregate amount not exceeding Rs. 300 crores, in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018, as amended, ("SEBI ICDR Regulations"] and all other applicable laws, as may be considered appropriate, subject to shareholders' approval and government / regulatory / statutory and any other approvals and requirements, as applicable; and
    1. Approved to conduct Postal Ballot process for approval of members of the company for proposed Resolution.

The board meeting commenced at 11:30 and concluded at 12:25 P.M.

~

o~E.cr&

We are enclosing herewith the Financial Results for the quarter and nine months ended December 31, 2023 for your information and record. The same will be made available on the Company's website at www.pspprojects.com.

Kindly take the above on your record.

Thanking You,

Yours faithfully,

'PSP House', Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, Iscon - Ambali Road, Ahmedabad, Gujarat - 380 058. India. Phone: 079 - 2693 6200, 2693 6300, 2693 6400 I Fax No.: 079 - 2693 6500 I Email: [email protected] I URL: www.pspprojects.com CIN: L45201GJ2008PLC054868

Kantilal Patel & Co. Chartered Accountants "KPC House", Besides High Court Auditorium Gate, Sola, Ahmedabad - 380 060.

Prakash B. Sheth & Co. Chartered Accountants 212-213 Pratibha-I, B/h. Sakar-I, Opp. Gandhigram Railway Station, Navarangpura Ahmedabad - 380 009.

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To

The Board of Directors of PSP Projects Limited.

    1. We have reviewed the accompanying statement of unaudited standalone financial results of PSPProjects Limited (the 'Company') for the quarter ended December 31, 2023, and year to date from April 01, 2023 to December 31, 2023 (the 'Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SESI(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations').
    1. The Statement which is the responsibility of the Company's Management and approved by the Company's Soard of Directors, has been prepared in accordance with the recognition and . measurement principles laid down in Indian Accounting Standard 34 (lnd AS 34), 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we could become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an

  1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (Tnd AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Kantilal Patel & Co. Chartered Accountants ICAI Firm registration number: 104744W

~el Partner Membership No.: 153599 Place: Ahmedabad Date: February 9, 2024 UDIN: 24153599BKDKEB3464

For Prakash B. Sheth & Co. Chartered Accountants ICAI Firm registration number: 106089W

Prakash B. Sheth Proprietor Membership No.: 036831 Place:Ahmedabad Date: February 09, 2024 UDIN: 24036831BKAEAH2474

PSP Projects limited

Registered Office: PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058 CIN :l45201GJ2008PlC054868 Website: www.pspprojects.com

(i) Statement of Unaudited Standalone Financial Results for the quarter and nine months ended December 31, 2023

(Rs in lakhs)
Quarter
ended
Nine months Year Ended
Sr. No. Particulars 31.12.2023 30.09.2023 31.12.2022 31.12.2023 31.12.2022 31.03.2023
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Income
Revenue
from Operations
69,661.92 60,714.85 49,739.28 1,81,332.80 1,19,923.91 1,92,664.91
Other
Income
654.20 603.13 648.03 1,827.78 2,043.08 2,709.56
Total Income 70,316.12 61,317.98 50,387.31 1,83,160.58 1,21,966.99 1,95,374.47
2 Expenses
Cost of Materials
Consumed
24,868.54 26,479.41 15,345.15 71,583.74 37,225.67 59,941.76
Changes
in Inventories
of Finshed
Goods and Work-In-Progress
(4,349.23) (5,416.59) 1,536.17 (10,695.16) (2,091.22) (2,207.15)
Construction
Expenses
37,773.06 28,800.00 23,997.64 88,112.03 61,880.94 1,00,470.38
Employee
Benefits
Expense
3,375.23 2,956.12 2,347.58 9,150.10 6,775.39 9,345.15
Finance
Costs
1,526.72 1,245.17 1,012.81 3,680.31 2,277.14 3,195.94
Depreciation
and Amortisation
Expense
1,872.59 1,435.86 984.69 4,493.12 2,762.93 4,000.52
Other
Expenses
851.35 521.74 347.88 2,200.32 1,396.95 2,613.56
Total Expenses 65,918.26 56,021.71 45,571.92 1,68,524.46 1,10,227.80 1,77,360.16
3 Profit/(loss)
Before
Tax and Exceptional
Item (1-2)
4,397.86 5,296.27 4,815.39 14,636.12 11,739.19 18,014.31
4 Exceptional
Gain/(Lossl(net
of tax)
- -
5 Profit/(loss)
Before Tax and after
Exceptional
Item (3-4)
4,397.86 5,296.27 4,815.39 14,636.12 11,739.19 18,014.31
6 Tax Expenses
Current
Tax
1,330.79 1,365.89 1,305.57 4,105.05 3,162.04 4,991.28
Deferred
Tax
(184.78) (10.23) (19.68) (333.70) (93.61) (278.79)
Total Tax Expenses 1,146.01 1,355.66 1,285.89 3,771.35 3,068.43 4,712.49
7 Profit/(loss)
for the Period
(5-6)
3,251.85 3,940.61 3,529.50 10,864.77 8,670.76 13,301.82
8 Other
Comprehensive
Income/(Loss)
(OCI)
(i) Items that will not be reclassified
to Profit or loss
- Remeasurement
expenses
of Defined benefit
plans (net of tax)
2.30 2.30 2.31 6.90 6.91 9.20
Total Other
Comprehensive
Income
/ (LOSS) for the Period
2.30 2.30 2.31 6.90 6.91 9.20
9 Total Comprehensive
Income/(loss)
for the Period (7+8)
3,254.15 3,942.91 3,531.81 10,871.67 8,677.67 13,311.02
10 Paid-up
Equity Share Capital - Face Value Rs 10/-
each
3,600.00 3,600.00 3,600.00 3,600.00 3,600.00 3,600.00
11
12
Other
Equity excluding
Revaluation
Reserves
Per Share or Ils lU/- each 1111Ils.1
earrungs
(not annualised
for quarters)
- - 76,382.54
(Basic) 9.03 10.95 9.81 30.18 24.09 36.95
(Diluted) 9.03 10.95 9.81 30.18 24.09 36.95

(See accompanying notes to the Standalone FinanCIal Results)

KANTILAL PATEL e't CO.

PSP Projects Limited

Registered Office: PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058 CIN :L45201GJ2008PLC054868 Website: www.pspprojects.com

(ii) Notes to Standalone Financial Results

Sr. Note
No.
1 The above
financial
results
of the
Company
have been reviewed
by the Audit
Committee
and
approved
by
the
Board
of
Directors
of
the
Company
in their
respective
meetings
held
on
February
9, 2024.
The
financial
results
are prepared
in accordance
with
the
Indian
Accounting
Standards
(Tnd
AS"), as applicable
and guidelines
issued by the Securities
and Exchange Board of India (USEBI").
The Ind AS are prescribed
under section
133 of the Act read with
Rule 3 of the Companies (Indian
Accounting
Standards)
Rules,
2015,
and
the
Companies
(Indian
Accounting
Standards)
(Amendment)
Rules, 2016.
2 The Company
is primarily
engaged in one business segment
viz. construction/project
activities,
as determined
by the chief decision
maker
in accordance with
Ind AS 108, Operating
Segments.
3 The Code on Social Security,
2020 ('Code')
has been notified
in the .Official Gazette
of India on
September
29, 2020,
which
could
impact
the
contributions
of the
Company
towards
certain
employment
benefits.
The effective
date from
which
changes are applicable
is yet to be notified
and the rules are yet to be framed.
Impact,
if any, of the change will
be assessed and accounted
in the period
of notification
of the relevant
provisions.
4 As on December
31, 2023, the Company
has outstanding
assets valued
at approximately
Rs 141
Crores,
from
contractual
transactions
with
SDB Diamond
Bourse
(the
"Party").
This
includes
trade
receivables
of Rs46 crores, Unbilled
Revenue of Rs53 crores, and retention
of Rs42 crores.
The Company
has taken
legal action
by filing
a Commercial
Civil Case before the Hon'ble
District
Court
in Surat,
Gujarat,
against the
Party.
The legal proceedings
encompass
a range of claims,
meticulously
outlining
the services rendered
and work
performed
for the
Party. The total
value
of the claims presented
by the Company
exceeds the outstanding
assets recorded
in the
books.
The Company
is optimistic
about recovering
the aforementioned
amounts
from
the Party.

(Prahaladbhai S:.~It@f'-'----:'

Chairman, Managing Director & CEO DIN: 00037633 Ahmedabad, February 9, 2024

Kantilal Patel & Co. Chartered Accountants "KPC House", Besides High Court Auditorium Gate, Sola, Ahmedabad - 380 060.

Prakash B. Sheth & Co. Chartered Accountants 212-213 Pratibha-I, B/h. Sakar-I, Opp. Gandhigram Railway Station, Navarangpura Ahmedabad - 380 009.

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To

The Board of Directors of PSP Projects Limited.

    1. We have reviewed the accompanying statement of unaudited consolidated financial results of PSP Projects Limited (the 'Holding Company') and its subsidiary (the Holding Company and its subsidiary together referred to as the 'Group') and its joint venture for the quarter ended December 31, 2023 and year to date from April 01, 2023 to December 31, 2023 (the 'Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations').
    1. The Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (lnd AS 34), 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review of the Statement in accordance with the Standard on. Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we could become aware of all

We also performed procedures in accordance with the Circular No. CIR/CFD/CMDI/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

  1. The Statement includes the interim financial results of the following entities

Subsidiary

PSPProjects & Proactive Constructions Private Limited

Joint Venture

GDCL and PSPJoint Venture

Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (Ind AS') specified under Section- 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

    1. The Statement includes the unaudited interim financial results and other unaudited financial information of:
  • (a) 1 (one) subsidiary, whose unaudited interim financial results and other unaudited financial information include total revenue of INR 948.28 lakh and 3,006.72 lakh (before consolidation adjustments), total net loss after tax of INR 143.53 lakh and INR 119.71 lakh (before consolidation adjustments), total comprehensive expense (before consolidation adjustments) of INR 143.53 lakh and 119.71 lakh for the quarter ended December 31, 2023 and for the period from April 1, 2023 to December 31, 2023, respectively, as considered in the Statement.
  • (b) 1 (one) joint venture, whose unaudited interim financial results and other unaudited financial information include Group's share of net profit of INR 1.67 lakh and 7.31 lakh and Group's share of total comprehensive income of INR 1.67 lakh and ;.31 lakh for the

quarter ended December 31,2023 and for the period from April 1,2023 to December 31, 2023, respectively, as considered in the Statement.

These interim financial results have been reviewed by one of the joint auditors and other joint auditor has placed reliance on the same. Our conclusion on the Statement is not modified in respect of the above matter.

  1. According to the information and explanations given to us by the Management of the Holding Company, the unaudited interim financial results and other unaudited financial information referred to in paragraphs 5 above are not material to the Group.

For Kantilal Patel & Co.

Chartered Accountants ICAI Firm registration number: 104744W

Jinal A. Patel Partner Membership No.: 153599 Place: Ahmedabad Date: February 9, 2024 UDIN: 24153599BKDKEC6612

For Prakash B. Sheth & Co. Chartered Accountants ICAI Firm registration number: 106089W

Prakash B. Sheth Proprietor Membership No.: 036831 Place: Ahmedabad Date: February 09, 2024 UDIN: 24036831 BKAEAI5883

PSP Projects limited

Registered Office: PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058 (IN :L45201GJ2008PLC054868 Website: www.pspprojects.com

(i) Statement of Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2023

(Rs in Lakhs)
Sr. Quarter
ended
Nine months ended Year ended
No. Particulars 31.12.2023 30.09.2023 31.12.2022 31.12.2023 31.12.2022 31.03.2023
(Unaudited) (Unaudited) (Unaudited) IUnauditedl IUnaudited) (Audited)
1 Income
Revenue from Operations 70,475.01 61,965.31 50,015.70 1,83,802.99 1,20,822.16 1,93,780.60
Other lncorne 643.30 605.04 643.37 1 814.47 1 829.74 2 500.09
Total Income 71,118.31 62,570.35 50,659.07 1,85,617.46 1,22,651.90 1,96,280.69
2 Expenses
Cost of Materials Consumed 25,130.32 27,003.22 15,405.45 73,057.06 37,535.51 60,277.45
Changes in Inventories
of Work-in-Progress
(4,349.23) (4,743.30) 1,536.17 (10,677.11) (1,992.15) (2,126.15)
Construction
Expenses
38,506.43 28,967.58 24,205.96 89,223.96 62,191.19 1,00,915.38
Employee Benefits Expense 3,375.24 2,956.11 2,347.58 9,150.10 6,775.39 9,345.15
Finance Costs 1,526.73 1,245.19 1,012.82 3,680.34 2,277.17 3,195.97
Depreciation
and Amortisation
Expense
1,872.60 1,435.85 984.69 4,493.12 2,762.93 4,000.52
Other Expenses 851.82 531.70
57,396.35
341.41 2221.15 1398.07 2362.39
1,77,970.71
Total Expenses 66,913.91 45,834.08 1,71,148.62 1,10,948.11
3 Before Tax & share of profit / (loss) from Joint Venture
Profit/(Loss)
4,204.40 5,174.00 4,824.99 14,468.84 11,703.79 18,309.98
(1- 2)
4 Tax Expenses
Current Tax 1,330.79 1,365.89 1,305,56 4,105.05 3,162.05 4,991.28
MAT Credit Entitlement - 72.18
Deferred Tax 1233.05 140.05) (13.39 (373.96 (46,19 (217.60)
Total Tax Expenses 1,097.74 1,325.84 1,292.17 3,731.09 3,115.86 4,845.86
for the Period Before share of profit I (loss) from Joint 3,106.66 3,848.16 3,532.82 10,737.75 8,587.93 13,464.12
5 Profit/(Loss)
Venture
(3 - 4)
6 Share of profit / (loss) from Joint Venture
(Net)
1.66 3.81 3.19 7.31 6.38 (270.00)
7 Net profit/(loss)
after tax and share in profit/(Ioss)
of Joint ventures
3,108.32 3,851.97 3,536.01 10,745.06 8,594.31 13,194.12
(5+6)
8 Income I (Loss) (OCI)
Other Comprehensive
(i) Items that will not be reclassified
to Profit or Loss
- Remeasurement
expenses
of Defined benefit plans (net of tax)
2.30 2.30 2.30 6.90 6.91 9.20
(ii) Items that will be reclassified to Profit or Loss
- Exchange difference
arising on translation
of foreign subsidiary (net of
- -
tax)
Income I (Loss) for the Period
Total Other Comprehensive
2.30 2.30 2.30 6.90 6.91 9.20
9 Total Comprehensive
Income/(Loss)
for the Period (7+8)
3,110.62 3,854.27 3,538.31 10,751.96 8,601.22 13,203.32
Profit/(Loss)
for the year attributable
to:
- Owners ofthe company 3,108.32 3,851.97 3,536.01 10,745.06 8,594.31 13,194.12
- Non-controlllng lnterest -
Other comprehensive
income/(Loss)
for the year attributable
to:
- Own ers of the com pany 2.30 2.30 2.30 6.90 6.91 9.20
- Non-controlling
tnterest
-
Total comprehensive
income/(Loss)
for the year attributable
to:
- Owners of the company 3,110.62 3,854.27 3,538.31 10,751.96 8,601.22 13,203.32
- Non-controlling
Interest
-
10 Paid-up Equity Share Capital-
Face Value Rs 10/- each
3,600.00 3,600.00 3,600.00 3,600.00 3,600.00 3,600.00
11 Other Equity excluding Revaluation
Reserves
- 76,499.25
12 Earnings Per Share of Rs 10/- each (in Rs.)
(not annualised
for quarters)
(Basic) 8.63 10.70 9,82 29.85 23.87 36.65
(Diluted) 8.63 10.70 9.82 29.85 23.87 36.65

(see accompanying notes to the Consolidated Financial Results)

f(ANTILAL PATEL & CO_. _ SIG1!ED FOR IDENTIFiCATION BY lJ) [b C112 tl

PSP Projects Limited Registered Office: PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058 CIN :L45201GJ2008PLC054868 Website: www.pspprojects.com

(ii) Notes to Consolidated Financial Results

Sr. Note
No.
1 The above
consolidated
financial
results of the
Holding
Company
have been reviewed
by the Audit
Committee
and
approved
by the
Board
of
Directors
of the
Holding
Company
in their
respective
9, 2024.
meetings
held on February
The
consolidated
financial
results
are
prepared
in
accordance
with
the
Indian
Accounting
Standards
("Ind
AS"), as applicable
and guidelines
issued by the Securities
and
Exchange Board of
India
("SEBI").
The
Ind AS are
prescribed
under
section
133 of the
Act
read
with
Rule 3 of
the
2015,
Companies
(Indian
Accounting
Standards)
Rules,
and
the
Companies
(Indian
Accounting
2016.
Standards)
(Amendment)
Rules,
The
said
financial
results
represent
the
results
of
PSP
Projects
Limited
(lithe
Holding
Company"),
its subsidiaries
(together
referred
to as lithe Group"
and
its share
in results
of joint
ventures
which
have
been
prepared
in accordance
with
Ind-AS 110 -
28
-
"Consolidated
Financial
Statement"
and
Ind
AS
"Investment
in
Associates
and
Joint
Ventures").
2 The
Group
is primarily
engaged
in one
business
segment
viz. construction/project
activities,
as
Ind AS 108,
determined
by
the
chief
decision
maker
in
accordance
with
Operating
Segments.
Further,
the
operations
of the
Group
is predominately
domiciled
in lndia
and therefore
there
are
no reportable
geographical
segment.
3 2020
The
Code
on Social Security,
('Code')
has been
notified
in the
Official
Gazette
of
India
on
29)
2020,
September
which
could
impact
the
contributions
of
the
Group
towards
certain
employment
benefits.
The effective
date
from
which
changes are applicable
is yet to
be notified
and the
rules are yet to be framed.
Impact,
if any, of the change will
be assessed and accounted
in
the
period
of notification
of the relevant
provisions.
4 31, 2023)
As on December
the Holding
Company
has outstanding
assets valued
at approximately
Rs
141
Crores,
from
contractual
transactions
with
SOB Diamond
Bourse
(the
"Party").
This includes
of Rs46
Revenue of Rs53
of Rs42
trade
receivables
crores,
Unbilled
crores, and retention
crores.
The Holding
Company
has taken
legal action
by filing
a Commercial
Civil Case before
the
Hon'ble
District
Court
in Surat,
Gujarat,
against
the
Party.
The
legal proceedings
encompass
a range
of
claims,
meticulously
outlining
the
services
rendered
and work
performed
for
the
Party. The total
value
of
the
claims
presented
by the
Company
exceeds
the
outstanding
assets recorded
in the
books. The Holding
Company
is optimistic
about
recovering
the aforementioned
amounts
from
the
Party.

SIGi lED FOR IDEN-tIFICATION BY ,~gee g%4

I<ANTILAL PATEL & CO.

PSP Projects Limited

Registered Office: PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058 CIN :L45201GJ2008PLC054868 Website: www.pspprojects.com

Sr.
No.
Note
S The standalone
financial
results of the Holding
Company for the
quarter
and nine months
ended
December
31,2023
are available on the Company's website
(URL: www.pspprojects.com)
Key Standalone
financials information
is given below:
Quarter ended Nine months ended Rs.ln
Lakhs
Year
ended
Particulars 31.12.2023
(Unaudited)
30.09.2023
(Unaudited)
31.12.2022
(Unaudited)
31.12.2023
(Unaudited)
31.12.2022
(Unaudited)
31.03.2023
(Audited)
Total Income 70,316.12 61,317.98 50,387.31 1,83,160.58 1,21,966.99 1,95,374.47
Profit
Before
Tax and
ExceptionaI
Item
4,397.86 5,296.27 4,815.39 14,636.12 11,739.19 18,014.31
Profit
Before
Tax
and
after
Exceptional Item
4,397.86 5,296.27 4,815.39 14,636.12 11,739.19 18,014.31
Net Profit 3,251.85 3,940.61 3,529.50 10,864.77 8,670.76 13,301.82
Other Comprehensive Income/(Loss) 2.30 2.30 2.31 6.90 6.91 9.20
Total Comprehensive Income 3,254.15 3,942.91 3,531.81 10,871.67 8,677.67 13,311.02

Ahmedabad, February 9, 2024 KANTILAL PATEL & CO.