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Buy PSP Projects; target of Rs 820: ICICI Direct

ICICI Direct is bullish on PSP Projects recommended buy rating on the stock with a target price of Rs 820 in its research report dated January 19, 2023.

January 20, 2023 / 05:49 PM IST
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ICICI Direct's research report on PSP Projects

Incorporated in 2008 by Prahladbhai Patel, PSP Projects (PSP) is one of the prominent contractors offering a diversified range of construction and allied services. Its focus remains on industrial, institutional, government, government residential and residential projects. PSP reported 34.3%, 31.2%, 31.3% CAGR in topline, EBITDA, PAT CAGR, respectively, during FY17-22 • Prudent management, net debt free, robust return ratios (RoCE: 25+%).


We maintain our BUY rating on the company given the strong revenue visibility and historically robust execution track record. We value PSP at Rs 820/share (13x FY25 P/E).

For all recommendations report, click here

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PSP Projects - 20 -01-2023 - icici

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first published: Jan 20, 2023 05:49 pm