Last Updated : Sep 18, 2018 04:34 PM IST | Source:

Buy PSP Projects; target of Rs 639: HDFC Securities

HDFC Securities is bullish on PSP Projects has recommended buy rating on the stock with a target price of Rs 639 in its research report dated 10 Aug 2018.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

HDFC Securities' research report on PSP Projects

PSP’s 1QFY19 revenue of Rs 2.3bn (+50.6%YoY, -11.0% QoQ) was largely driven by the SDB project (~Rs 830mn). EBITDA margin came in at 14%, about 100bps higher than management guidance. Change in project mix (SDB still in initial stage where material cost is significantly higher than labour) was key reason.


PSP may bid for Education Institutions IIT/IIMs. We expect PSP’s order book/APAT to grow ~1.2/2.0x over FY18-20E. We maintain a BUY with a TP of Rs 639/sh (18x Mar-20E EPS).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Aug 10, 2018 04:41 pm
Follow us on
Available On
PCI DSS Compliant