YES Securities' research report on PSP Projects
The Company witnessed sharp pickup in execution during Q2 (as against Q1) with better labor availability. We expect the execution momentum to continue during H2 FY21. Operating margin is expected to remain healthy at ~11-13% levels. The bid pipeline is strong which would help achieve the targeted order inflows during H2 FY21.
Outlook
We largely retain our estimates for FY21/22 and maintain our BUY rating for target of Rs519.
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