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May 18, 2017 01:45 PM IST |

Subscribe to PSP Projects: Ajcon Global

Ajcon Global has come out with its report on PSP Projects. The research firm has recommended to "Subscribe " the IPO in its research report as on May 18 , 2017.

Subscribe to PSP Projects: Ajcon Global

Ajcon Global report on PSP Projects

Incorporated on August 26, 2008, PSP Projects Limited is the
Multidisciplinary Construction Company offering a diversified range of
Construction and Allied Services across Industrial, Institutional,
Government, Government Residential and Residential Projects in India.
Over the years, the company has successfully executed a number of
prestigious projects across Gujarat. The company provides their
services across the construction value chain, ranging from planning
and design to construction and post-construction activities to private
and public sector enterprises. Since their incorporation, the company
has executed 80 projects as of March 31, 2017. The Company’s
Chairman and Managing Director and CEO, namely Prahaladbhai
Shivrambhai Patel, who is also the Promoter, has been associated with
the construction business for over 30 years and has been instrumental
in the growth of the Company. Historically, concentrated in Gujarat
Region, the company has geographically diversified their portfolio of

services and is undertaking or has bid for projects pan India.

Recommendation
At the upper end of the price band of Rs. 210, the IPO is
valued at 26x at annualized FY17E post issue EPS of Rs. 7.96.
With due consideration to factors like a) strong track record
of successful project execution, b) visible growth through a
robust order book and growing pre – qualification
credentials, c) experienced promoters, d) long standing
relationship with its customers, e) one of the few
infrastructure companies operating through world class
software ‘SAP,’ e) robust ROE and stable operating cashflows

with strong growth, we recommend “SUBSCRIBE” to the issue.

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