PSP Projects Limited

ISO 9001:2015, 14001:2015, 45001:2018 Certified Company

Ref No: PSPPROJECT/SE/05/26-27

Corporate Relations Department
BSE Limited
Floor 25, P.J. Towers,
Dalal Street, Mumbai- 400 001
Scrip code: 540544
Dear Sir/Madam,

April 30, 2026

Listing Department
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051
Scrip Symbol: PSPPROJECT

Subject: Outcome of Board meeting

Pursuant to Regulation 30, 33 and other related Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with reference to the captioned subject, we hereby inform that, the Board of Directors, at their meeting held today i.e. April 30, 2026, have inter-alia:

Approved and took on record the Audited Standalone and Consolidated Financial Results and Statements of the Company for the quarter and year ended March 31, 2026, as reviewed and recommended by the Audit Committee.

We would like to state that M/s. Kantilal Patel & Co. and M/s. G. K. Choksi & Co., Joint Statutory Auditors of the Company have issued Audit Reports with unmodified opinion on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended March 31, 2026. This declaration is issued in compliance of Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations").

Approved re-appointment of M/s. Manubhai & Shah LLP, Chartered Accountants as Internal Auditor of the Company for the Financial Year 2026-27. The details of Internal Auditor as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are given as Annexure B to this disclosure;
Approved re-appointment of M/s. K V M & Co., Cost Accountants (Firm Registration No. 000458), Practising Cost Accountants, Ahmedabad as the Cost Auditor of the Company for the Financial Year 2026-27. The details of Cost Auditor as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are given as Annexure B to this disclosure;
On the recommendation of the Audit Committee, recommended to the Shareholders, the appointment of M/s. G. K. Choksi & Co., Chartered Accountants, Ahmedabad (Firm Registration No. 101895W), as one of the Joint Statutory Auditors of the Company, to hold office from conclusion of 18th Annual General Meeting till the conclusion of 23rd Annual General Meeting of the Company. The details of one of the Joint Statutory Auditors as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are given as Annexure B to this disclosure;

'PSP House', Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, Iscon - Ambali Road, Ahmedabad, Gujarat - 380 058. India.

Phone: 079 - 2693 6200, 2693 6300, 2693 6400 | Fax No.: 079 - 2693 6500 | Email: [email protected] | URL: www.pspprojects.com

CIN: L45201GJ2008PLC054868

PSP

PSP Projects Limited

ISO 9001:2015, 14001:2015, 45001:2018 Certified Company

Approved the date of Eighteenth (18th) Annual General Meeting of the members of the Company on Saturday, June 27, 2026, through Video Conferencing/Other Audio-Visual means (VC/OAVM) in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. The Notice of the AGM shall be intimated separately.

The Board Meeting commenced at 11:00 A.M. and concluded at 2:10 P.M.

The Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2026, prepared in terms of Regulation 33 of the SEBI Listing Regulations, together with the Audit Report of the Statutory Auditors along with the Statement of Assets and Liabilities and Cash Flow Statement for the year ended March 31, 2026 are enclosed herewith as Annexure A.

These results are also being uploaded on the Company's website at www.pspprojects.com.

This is for your information and record.

Thanking You,

Yours faithfully,

For, PSP Projects Limited

Pooja Ronak
Dhruve

Digitally signed by Pooja
Ronak Dhruve
Date: 2026.04.30 14:12:31
+07:30

Pooja Dhruve
Company Secretary and Compliance Officer
Membership No.: A48396

Encl: As Above

'PSP House', Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, Iscon - Ambali Road, Ahmedabad, Gujarat - 380 058. India.

Phone: 079 - 2693 6200, 2693 6300, 2693 6400 | Fax No.: 079 - 2693 6500 | Email: [email protected] | URL: www.pspprojects.com

CIN: L45201GJ2008PLC054868

Kantilal Patel & Co.
Chartered Accountants
"KPC House", Besides High Court
Auditorium Gate, Sola,
Ahmedabad – 380 060.
G.K. Choksi & Co
Chartered Accountants
One42, 1201-901,
North Tower, Billionaires St., off Ambli Road,
Ashok Vatika, Ahmedabad – 380058.
Annexure A

Independent Auditors’ Report on the Consolidated Annual Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

The Board of Directors of
PSP Projects Limited.

Report on the audit of the Consolidated Annual Financial Results

Opinion

We have jointly audited the accompanying Consolidated Annual Financial Results of PSP Projects Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as the “Group”) and its joint venture for the year ended March 31, 2026, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the joint auditors on separate audited financial statements/ financial information of the subsidiaries and the joint venture, the aforesaid Consolidated Annual Financial Results:

i. Include the results of the following entities:

Subsidiaries

PSP Projects & Proactive Constructions Private Limited.
PSP Foundation

Joint Venture

GDCL and PSP Joint Venture.

ii. Are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

iii. Give a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the consolidated net profit, consolidated other comprehensive income, and other financial information of the Group for the year ended March 31, 2026

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under Section 145(10) of the Companies Act, 2013, as amended (the “Act”). Our responsibilities under

Kantilal Patel & Co.
Chartered Accountants
G.K. Choksi & Co
Chartered Accountants

those SAs are further described in the "Auditors' Responsibilities for the Audit of the Consolidated Annual Financial Results" section of our report. We are independent of the Group and its joint venture in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

The Consolidated Annual Financial Results have been prepared on the basis of the annual consolidated financial statements. The Management and Board of Directors of the Holding Company are responsible for the preparation and presentation of the Consolidated Annual Financial Results that give a true and fair view of the consolidated net profit and other comprehensive loss of the Group including its joint venture in accordance with the applicable accounting standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group and of its joint venture are also responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement, that give a true and fair view and is free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Consolidated Annual Financial Results by the Management and the Board of Directors of the Holding Company, as aforesaid.

In preparing the Consolidated Annual Financial Results, the respective Management and Board of Directors of the companies included in the Group and of its joint venture are responsible for assessing the ability of the Group and of its joint venture to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the respective companies or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its joint venture are also responsible for overseeing the financial reporting process of the Group and of its joint venture.

KANTILAL PATEL & CO. CHOKE
AHMEDABAD
CHOKE OF ACCOUNTANTS

Kantilal Patel & Co.
Chartered Accountants
G.K. Choksi & Co
Chartered Accountants

Auditors’ Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the Consolidated Annual Financial Results as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Consolidated Annual Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Consolidated Annual Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Holding Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management and the Board of Directors.
Conclude on the appropriateness of the Management and the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its joint venture to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors’ report to the related disclosures in the Consolidated Annual Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors’ report. However, future events or conditions may cause the Group and its joint venture to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Consolidated Annual Financial Results, including the disclosures, and whether the Consolidated Annual Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

KANSAS CITY, MO
KPI & CO
CHOKKAS
1900
1900

Kantilal Patel & Co.
Chartered Accountants
G.K. Choksi & Co
Chartered Accountants

Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its joint venture to express an opinion on the Consolidated Annual Financial Results. For the other entities included in the Consolidated Annual Financial Results, which have been audited by one of the joint auditors, such joint auditor remains responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in paragraphs (1), (2) and (3) of the "Other Matters" section of our report.

We communicate with those charged with governance of the Holding Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance of the Holding Company with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedure in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matters

(1) The accompanying Consolidated Annual Financial Results include the audited financial results/financial information of:

(a) 2 (two) subsidiaries, whose financial statements reflects total assets (before consolidation adjustments) of INR 12,419.34 lakh as at March 31, 2026, total revenue (before consolidation adjustments) of INR 10,821.83 lakh and INR 17,099.53 lakh, total net profit after tax (before consolidation adjustments) of INR 343.32 lakh and INR 712.60 lakh, total comprehensive profit of INR 343.32 lakh and INR 712.60 lakh for the quarter and year ended on that date, respectively, and net cash inflows of INR 212.83 lakh for the year ended on that date, as considered in the Statement;

(b) 1 (one) joint venture, whose financial statements include the Group's share of net loss of INR 6.67 lakh and INR 7.62 lakh for the quarter and year ended on that date, respectively as considered in the Statement;

Our opinion on the Consolidated Annual Financial Results is so far as it related to the amounts and disclosures included in respect of the subsidiaries and joint venture is based solely on the report of one of the joint auditors and the procedures performed by us as stated in paragraph above. Our opinion is not modified in respect of this matter.

(2) The Consolidated Annual Financial Results includes the results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of full financial

186
AMMEDABAD
BATCO CONFIDENTIAL

Kantilal Patel & Co.
Chartered Accountants
G.K. Choksi & Co
Chartered Accountants

year ended March 31, 2026 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations. Our opinion is not modified in respect of this matter.

(3) The Consolidated financial Results for corresponding quarter ended March 31, 2025 and year ended results for the period from 01 April 2025 to 31 March 2025 included in statement were jointly audited by Kantilal Patel & Co. and Prakash B. Sheth & Co., whose report dated May 23, 2025, expressed an unmodified opinion on those Consolidated financial results. Our opinion is not modified in respect of this matter.

For M/s. Kantilal Patel & Co.
Chartered Accountants
Firm Registration Number: 104744W

Jinal A. Patel
Partner
Membership Number: 153599
Place: Ahmedabad
Date: April 30, 2026
UDIN: 26153599 EREFDA6741

Sandip A. Parikh
Partner
Membership Number: 040727
Place: Ahmedabad
Date: April 30, 2026
UDIN: 26040727 AYQBIW6484.

PSP Projects Limited

Registered Office: PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058

CIN: L45201GJ2008PLC054868 Website: www.pspprojects.com

(i) Statement of Audited Consolidated Financial Results for the quarter and year ended March 31, 2026
(Rs. in Lakhs)

Sr. No.	Particulars	Quarter ended			Year ended
		31.03.2026 (Unaudited) (Refer Note 4)	31.12.2025 (Unaudited)	31.03.2025 (Unaudited) (Refer Note 4)	31.03.2026 (Audited)	31.03.2025 (Audited)
1	Income
	Revenue from Operations	1,11,524.03	81,279.36	67,288.73	3,14,866.19	2,51,212.57
	Other Income	527.34	387.79	518.26	1,725.88	1,731.92
	Total Income	1,12,051.37	81,667.15	67,806.99	3,16,592.07	2,52,944.49
2	Expenses
	Cost of Materials Consumed	35,460.84	31,056.66	20,679.30	1,16,826.86	78,596.47
	Changes in Inventories of Finished Goods and Work-in-Progress	1,592.54	(702.50)	1,055.31	1,978.83	3,224.22
	Construction Expenses	60,243.31	40,520.12	38,290.29	1,54,422.45	1,35,303.46
	Employee Benefits Expense	3,643.04	4,102.87	2,306.38	14,575.04	11,950.55
	Finance Costs	1,120.83	1,085.64	1,023.50	4,523.80	4,422.39
	Depreciation and Amortisation Expense	2,636.88	2,365.83	1,924.84	8,656.92	7,265.14
	Other Expenses	4,604.76	848.96	1,722.46	8,158.01	4,194.95
	Total Expenses	1,09,302.20	79,277.58	67,002.08	3,09,141.91	2,44,957.18
3	Profit/(Loss) Before Tax & share of profit / (loss) from Joint Venture (1 - 2)	2,749.17	2,389.57	804.91	7,450.16	7,987.31
4	Tax Expenses
	Current Tax	1,808.66	865.76	574.45	3,667.99	2,997.27
	Deferred Tax	(1,175.51)	(260.27)	(416.42)	(1,777.04)	(806.00)
	Total Tax Expenses	633.15	605.49	158.03	1,890.95	2,191.27
5	Profit/(Loss) for the period Before share of profit / (loss) from Joint Venture (3 - 4)	2,116.02	1,784.08	646.88	5,559.21	5,796.04
6	Share of profit / (loss) from Joint Venture (Net)	(6.68)	(0.70)	(0.56)	(7.63)	(154.24)
7	Net profit/(loss) after tax and share of profit/(loss) from Joint ventures (5+6)	2,109.34	1,783.38	646.32	5,551.58	5,641.80
8	Other Comprehensive Income / (Expenses) (OCI)
	Items that will not be reclassified to Profit or Loss
	- Remeasurement (expenses)/income of Defined benefit plans (net of tax)	(2.49)	(36.75)	(15.23)	(50.43)	(22.38)
	Total Other Comprehensive Income / (Expenses) for the period	(2.49)	(36.75)	(15.23)	(50.43)	(22.38)
9	Total Comprehensive Income/(Expenses) for the period (7+8)	2,106.85	1,746.63	631.09	5,501.15	5,619.42
	Profit/(Loss) for the period attributable to:
	- Owners of the company	2,109.34	1,783.38	646.32	5,551.58	5,641.80
	- Non-controlling Interest	-	-	-	-	-
	Other comprehensive income/(expenses) for the period attributable to:
	- Owners of the company	(2.49)	(36.75)	(15.23)	(50.43)	(22.38)
	- Non-controlling Interest	-	-	-	-	-
	Total comprehensive income/(expenses) for the period attributable to:
	- Owners of the company	2,106.85	1,746.63	631.09	5,501.15	5,619.42
	- Non-controlling Interest	-	-	-	-	-
10	Paid-up Equity Share Capital - Face Value Rs 10/- each	3,964.18	3,964.18	3,964.18	3,964.18	3,964.18
11	Other Equity excluding Revaluation Reserves	-	-	-	1,22,431.01	1,16,929.85
12	Earnings Per Share of Rs 10/- each (in Rs.)
	(not annualised for quarters)
	Basic	5.26	4.53	1.64	14.00	14.32
	Diluted	5.26	4.53	1.64	14.00	14.32

(see accompanying notes to the Consolidated Financial Results)

SIGNED FOR IDENTIFICATION BY

KPL 30/16

KANTILAL PATEL & CO.

(ii) Consolidated Statement of Assets and Liabilities as at March 31, 2026
(Rs. in Lakhs)

Particulars	As at March 31, 2026	As at March 31, 2025
ASSETS
(1) Non current Assets
(a) Property, Plant and Equipment	41,166.60	30,596.09
(b) Capital Work-In-Progress	86.42	276.71
(c) Other Intangible Assets	141.35	136.64
(d) Financial Assets
(i) Investments	65.68	66.68
(ii) Other Financial Assets	21,050.12	22,517.40
(e) Deferred Tax Asset (Net)	4,521.68	2,744.66
(f) Other Non Current Assets	1,746.42	1,034.59
Total Non-Current Assets	68,778.27	57,372.77
(2) Current Assets
(a) Inventories	34,761.07	32,394.01
(b) Financial Assets
(i) Trade receivables	92,821.87	52,983.29
(ii) Cash and cash equivalents	26,016.81	7,972.30
(iii) Bank Balances other than (ii) above	15,533.21	12,811.73
(iv) Loans	41.26	68.47
(v) Other Financial Assets	47,765.62	57,173.73
(c) Current Tax Assets (Net)	3,761.45	2,440.17
(d) Other Current Assets	17,996.69	12,090.10
Total Current Assets	2,38,697.98	1,77,933.80
(3) Assets Held for Sale	1,411.57	-
Total Assets	3,08,887.82	2,35,306.57
EQUITY AND LIABILITIES
(1) Equity
(a) Equity Share Capital	3,964.18	3,964.18
(b) Other Equity	1,22,431.01	1,16,929.85
Equity attributable to owners of Holding Company	1,26,395.19	1,20,894.03
Non-Controlling Interests
Total Equity	1,26,395.19	1,20,894.03
LIABILITIES
(2) Non-Current liabilities
(a) Financial Liabilities
(i) Borrowings	2,283.09	1,841.78
(ii) Lease Liabilities	1,048.99	-
(b) Provisions	303.11	288.75
Total Non-Current Liabilities	3,635.19	2,130.53
(3) Current Liabilities
(a) Financial Liabilities
(i) Borrowings	29,439.46	25,311.23
(ii) Lease Liabilities	256.46	-
(iii) Trade Payables
- Total outstanding dues of micro enterprises and small enterprises	4,846.94	1,996.54
- Total outstanding dues of creditors other than micro enterprises and small enterprises	41,672.57	39,794.14
(iii) Other Financial Liabilities	5,233.05	3,141.00
(b) Other Current Liabilities	96,229.18	41,612.95
(c) Provisions	1,153.83	426.15
(d) Current Tax Liabilities (Net)	25.95	-
Total Current Liabilities	1,78,857.44	1,12,282.01
Total Liabilities	1,82,492.63	1,14,412.54
Total Equity and Liabilities	3,08,887.82	2,35,306.57

SIGNED FOR IDENTIFICATION BY
KPLL 304/28
KANTILAL PATEL & CO.

(iii) Audited Consolidated Statement of Cash Flows for the year ended March 31, 2026

(Rs. in Lakhs)

Particulars	Year ended March 31, 2026	Year ended March 31, 2025
A Cash flow from operating activities:
Profit before tax	7,442.53	7,833.07
Adjustments for :
Finance costs	3,419.51	3,353.73
Depreciation and amortisation expense	8,656.92	7,265.14
Expected credit loss allowance	4,530.44	1,343.80
Dividend income	(3.16)	(3.16)
Interest Income	(1,719.45)	(1,694.06)
Loss on disposal of Property, Plant and Equipment (PPE)	137.99	368.20
(Gain) on sale of Property, Plant and Equipment (PPE)	1.28	(18.99)
Operating Profit before working capital changes	22,466.06	18,447.73
Movements in working capital:
(Increase) / Decrease in Inventories	(2,367.06)	(610.90)
(Increase) / Decrease in trade receivable	(41,316.53)	(20,115.23)
(Increase) / Decrease in other assets	753.21	(9,321.50)
Increase / (Decrease) in trade payables	1,031.93	1,059.43
Increase / (Decrease) in other liabilities	55,985.68	21,012.98
Increase / (Decrease) in provisions	674.65	104.41
Cash generated/(used) from operations:	37,227.94	10,576.92
Direct taxes paid (net)	(4,946.35)	(5,305.91)
Net cash generated/(used) from operating activities (A)	32,281.59	5,271.01
B Cash flows from investing activities:
Payment for Property, Plant and Equipment (PPE), Intangible assets and Capital Work-in-Progress	(19,296.12)	(6,796.29)
Proceeds from sale of Property, Plant and Equipment (PPE)	21.35	70.52
(Purchase) / Proceeds of term deposits (Net)	2,320.37	(5,646.98)
Loan (to)/repaid	27.21	106.26
Dividend received	3.16	3.16
Interest received	1,719.45	1,694.06
Net cash generated/(used) in Investing activities (B)	(15,204.58)	(10,569.27)
C Cash flow from financing activities:
Proceeds from non-current borrowings	2,484.60	1,110.08
(Repayment) of non-current borrowings	(3,387.38)	(5,432.94)
Proceeds from / (Repayment) of current borrowings	5,472.32	(14,033.14)
Proceeds from Issuance of Shares in Qualified Institutional Placement (QIP) (Net)	-	23,787.58
Payment of lease liability	(329.02)	-
Interest paid	(3,273.02)	(3,471.20)
Net cash generated/(used) in Financing activities (C)	967.50	1,960.38
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS [(A) + (B) + (C)]	18,044.51	(3,337.88)
Add: Cash and cash equivalents as at beginning of the year	7,972.30	11,310.18
Cash and Cash Equivalents as at the end of the year	26,016.81	7,972.30

Note: The above Cash Flow Statement has been prepared under the 'Indirect method' as set out in the Ind AS - 7 Statement of Cash Flow.

SIGNED FOR IDENTIFICATION BY

KP26 304/26

KANTILAL PATEL & CO.

SIGNED FOR IDENTIFICATION PURPOSES ONLY

G. K. CHOKSI & CO.

PSP Projects Limited

Registered Office : PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058

CIN :L45201GJ2008PLC054868 Website : www.pspprojects.com

(iv) Notes to Consolidated Financial Results

Sr. No.	Note
1	The above consolidated financial results of the Holding Company have been reviewed by the Audit Committee and approved by the Board of Directors of the Holding Company in their respective meetings held on April 30, 2026.
The consolidated financial results are prepared in accordance with the Indian Accounting Standards (“Ind AS”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”). The Ind AS are prescribed under section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, and the Companies (Indian Accounting Standards) (Amendment) Rules, 2016. The said financial results represent the results of PSP Projects Limited (“the Holding Company”), its subsidiaries (together referred to as “the Group” and its share in results of joint ventures which have been prepared in accordance with Ind-AS 110 – “Consolidated Financial Statement” and Ind AS 28 – “Investment in Associates and Joint Ventures”). The financial results includes results of the following:
Wholly Owned Subsidiary:
• PSP Projects and Proactive Constructions Private Limited
• PSP Foundation
Joint Venture:
• GDCL and PSP Joint Venture (having 49% proportion of ownership interest)
2	The Group is primarily engaged in one business segment viz. construction/project activities, as determined by the chief decision maker in accordance with Ind AS 108, Operating Segments. Further, the operations of the Group is predominately domiciled in India and therefore there are no reportable geographical segment.
3	The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four Labour Codes, which were made effective from November 21, 2025. The corresponding supporting rules under these codes are yet to be fully notified.

Based on the best available information and estimates, the Group has assessed the impact of implementation of the Labour Codes on its defined benefit obligations. Accordingly, the impact of such implementation has been recognised in the financial statements as employee benefit expense during the year ended March 31, 2026.

The Group continues to monitor the finalisation of Central and State Rules, as well as further clarifications from the Government on various aspects of the Labour Codes and will recognise the consequential impact, if any, based on such developments. |
| 4 | The figures for the current quarter ended March 31, 2026 and quarter ended March 31, 2025 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and March 31, 2025, respectively and published year to date figures up to third quarter ended December 31, 2025 and December 31, 2024, respectively which were subjected to limited review. |

SIGNED FOR IDENTIFICATION BY

K866 304/26

KANTILAL PATEL & CO.

SIGNED FOR IDENTIFICATION PURPOSES ONLY

G. K. CHOKSI & CO.

PSP Projects Limited

Registered Office : PSP House, Opp. Celesta Courtyard, Iscon-Ambli Road, Ahmedabad - 380 058

CIN :L45201GJ2008PLC054868 Website : www.pspprojects.com

| Sr.
No. | Note | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| 5 | The standalone financial results of the Holding Company for the quarter and year ended March 31, 2026 are available on the Company's website (URL: www.pspprojects.com)
Key Standalone financials information is given below:
Rs. In Lakhs | | | | | |
| | Particulars | Quarter ended | | | Year ended | |
| | | 31.03.2026
(Unaudited)
(Refer Note 4) | 31.12.2025
(Unaudited) | 31.03.2025
(Unaudited)
(Refer Note 4) | 31.03.2026
(Audited) | 31.03.2025
(Audited) |
| | Total Income | 1,02,081.39 | 77,523.09 | 66,019.59 | 3,01,060.29 | 2,48,549.66 |
| | Profit Before Tax and Exceptional Item | 2,649.05 | 2,140.65 | 606.38 | 6,887.08 | 7,842.22 |
| | Profit Before Tax and after Exceptional Item | 2,649.05 | 2,140.65 | 606.38 | 6,887.08 | 7,842.22 |
| | Net Profit | 2,115.46 | 1,605.62 | 495.14 | 5,228.60 | 5,645.62 |
| | Other Comprehensive Income/(Loss) | (2.49) | (36.75) | (15.23) | (50.43) | (22.38) |
| | Total Comprehensive Income | 2,112.97 | 1,568.87 | 479.91 | 5,178.17 | 5,623.24 |

For and on behalf of the Board

(Prahaladbhai S. Patel)

Chairman, Managing Director & CEO

DIN : 00037633

Ahmedabad, April 30, 2026

Kantilal Patel & Co.
Chartered Accountants
"KPC House", Besides High Court
Auditorium Gate, Sola,
Ahmedabad – 380 060.

G.K. Choksi & Co
Chartered Accountants
One42, 1201-901,
North Tower, Billionaires St., off Ambli Road,
Ashok Vatika, Ahmedabad – 380058.

Independent Auditors’ Report on the Standalone Annual Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

To
The Board of Directors of
PSP Projects Limited.