PSP Projects reported a marked improvement in its Q4 earnings, with revenue growth of 10 percent and a 22 percent rise in profitability.
PS Patel, Chairman, MD, and CEO of PSP Projects said, “It was the worst year for all of us in the construction industry. The first two quarters were washed out totally and then in the third quarter, we regained and in the fourth quarter, we could perform to what we had guided. So, it is going to be on the same line in the future also. The management mandate which we had increased and the current order book and labour force that we have, I think we will be performing on the same line.”
On the Covid second wave impact, Patel said, “There was an impact, but not the same impact which we had last year. So, in April-May, we have performed around 60-65 percent, and we are almost trying to regain by the end of this June. So, we can say that this quarter is not that much impacted as it was impacted last year.”
On revenue guidance, he said, “It is now the end of the quarter so we should not speak out the figures but it will be better than last year.”
On orderbook, he said, “Presently our order book stands at Rs 4,121 crore as on March-end. The new orders which we are having is in the range of Rs 3,000 crore.”
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