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    Buy PSP Projects, target price Rs 752: Axis Securities

    Synopsis

    PSP Projects, incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 2527.56 Crore) operating in Construction sector.

    stocksAgencies
    Stock is currently trading at 11x and 9x FY24E/FY25E EPS which is attractive.
    Axis Securities has buy call on PSP Projects with a target price of Rs 752. The current market price of PSP Projects is Rs 701.45.

    PSP Projects, incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 2527.56 Crore) operating in Construction sector.

    PSP Projects key Products/Revenue Segments include Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2021.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 506.59 Crore, up 38.31 % from last quarter Total Income of Rs 366.27 Crore and up 2.41 % from last year same quarter Total Income of Rs 494.69 Crore. Company has reported net profit after tax of Rs 35.33 Crore in latest quarter.

    The company’s top management includes Mr.Prahaladbhai S Patel, Ms.Pooja P Patel, Mr.Sagar P Patel, Mr.Achala Monal Patel, Mr.Vasishtha P Patel, Mr.Sandeep H Shah. Company has Riddhi P Sheth & Co. as its auditors. As on 31-12-2022, the company has a total of 4 Crore shares outstanding.

    Investment Rationale
    Considering strong order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, and the company’s efficient and timely execution, the brokerage expects the company to report Revenue/EBITDA/APAT CAGR of 20%/15%/16% respectively over FY22-FY25E. Stock is currently trading at 11x and 9x FY24E/FY25E EPS which is attractive.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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