PSP Projects Limited — Interim / Quarterly Report 2019

Feb 9, 2019

4 QT PSP. M Mt» PSP Projects Ltd. ISO 9001 : 2008, 14001 : 2004 BSOHSAS 18001 : 2007 Certified Company

Ref No: PSPPROIECT/SE/ 106/18-19

Corporate[Relations] Department BSE Limited Floor 25, PJ. ToWers, Dalal Street, Mumbai— 400 001 Scrip[code:] 540544

February 09, 2019

Listing Department

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Sandra (East), Mumbai[—] 400 051 Scrip Symbol: PSPPROJECT

Dear Sir/ Madam,

Subject: Outcome of Board meeting

With reference to the captioned subject, we hereby inform that in the board meeting held today[i.e.] February 09, 2019 at the registered[office][of] the company, besides other subjects,[the][board] approved and took on record the[Limited][Reviewed] (Unaudited) Financial Results (Standalone) as per Indian Accounting Standards (Ind AS) for the quarter[and nine months ended][ December][31, 2018.]

The board meeting commencedat 11:00 AM. and concluded at 12:00 PM

We are enclosing herewith the financial results for your information and record. The same[will][ be made][ available] on[the] Company's[website:] www.pspp_rojects.com.

ThankingYou,

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For PSP Projects’Limited
Mitta [i] Christachary& «
Conipany Secretary
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Encl.: As above

‘PSP House’, Opp. Celesta Courtyard, Opp. Lane[of] VikramnagarColony,[lSKCON][-Ambali] Road, Ahmedabad-380[058.] Phone : O79 — 2693 6200, 2693 6300, 2693 6400 | Fax No. : 079 - 2693 6500 | Email : info@pspprojects.com | URL : www.pspprojects.com CIN : L45201GJ2008PLC054868

Riddhi P. Sheth& Co. Chartered Accountants

Kantilal Patel & Co. Chartered Accountants 202, "Paritosh", Riverfront, Usmanpura, Ahmedabad[—] 380013. Tel:+ 91 792755 1333

9, ShyamShivam Bungalows, Nr. Shikhar Flats, 100 ft. Ring Road, Satellite, Ahmedabad[—] 380 051. Tel:+ 91 79 26763020

Limited Review Report

Review Report to The Board ofDirectors PSP Projects Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of[PSP] Projects[Limited] (the “Company”)[for][the] quarter[ended][December][31,] 2018,[and] year[to][date] from April 01, 2018, to December 31, 2018(the “Statement”), attached herewith, being submitted by the Company pursuant to[the] requirements of Regulation[33][of][ the][SEBI ] (Listing Obligations and Disclosure Requirements) Regulations, 2015(the “Regulation”) read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016(the “Circular”).

2. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS) 34 “Interim Financial Reporting” prescribed[under][Section][133] of[the] Companies Act, 2013,[read][with][Rule][3][of] Companies (Indian Accounting Standards) Rules,[2015,] as amended,read[with][the][Circular] is the responsibility of[the] Company's management[and][has been ] approved by[the Board][ of][ Directors][ of] the Company. Our responsibility is to express a conclusion on the Statement based on our rev1ew.

3. We conducted our review in accordance with[the] Standard on Review Engagements (SRE) 2410, 6Review of Interim Financial Information Performed by the Independent Auditor of the Entity’issued by[the][Institute] of[ Chartered Accountants][of][ India.][This][standard] requires[that][we] plan[and] perform[the][review][to][obtain moderate ] assurance as[to][whether the][Statement][is][free][of] material misstatement. A review[is] limited primarily to inquiries of company personnel[and] analytical procedures applied[to][financial][data][ and][thus ] provides[less][assurance than][ an][audit.][We] have not performed an audit and accordingly, we[do] not express an audit opinion.

4. Based on our review conducted as above, nothing[has] come to our[attention][that] causes us[to] believe that the accompanying Statement,prepared[in] accordance[with][the] recognition[and] measurement principles[laid] down[in][the] applicable[Indian] Accounting[Standards][(“Ind] AS’) specified[under][Section][133][of][the] Companies[Act,][2013,][read][with][relevant][rules][issued] thereunder and other recognised accounting practices[and] policies[has] not[disclosed][the] information required to be disclosed in terms of the Regulation, read with the Circular, including

“the manner[in] which[it][is] to[be] disclosed, or[that][it][contains’anymaterial misstatement.]

ForKantilal Patel & Co. Chartered Accountants lCAl Firm registration number: 104744W

ForRiddhi P. Sheth& C0. Chartered Accountants ICAI Firm registration number: 140190W

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Date: February 09, 2019

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perRiddhi[P.][Sheth] Proprietor Memberships[[No.:]][[159123]]

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_ Place. Ahmedabad Date: February 09, 2019

PSP Projects Limited

Registered Office[:][PSP] House, Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, lscon-Ambli Road, Ahmedabad- 380 058 CIN :L45201612008PLC054868Website : www.pspprojects.com

Statement of StandaloneUnaudited Financial Results for the Quarterand Nine monthsended December 31, 2018

									(Rs. in Lakhs)
Sr No		Particulars	31.12.2018	Quarterended 30.09.2018	31.12.2017	Nine monthsended 31.12.2018 31.12.2017			Yearended 31.03.2018
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)		(Audited)
1	income
	Revenue from Operations		26,108.91	20,994.88	17,079.98	70,575.69	46,615.34		72,983.03
	Other Income		482.79	543.17	322.24	1,634.67		1,251.43	1,836.53
	Total Income		26,591.70	21,538.05	17,402.22	72,210.36	47,866.77		74,819.56
2	Expenses
	CostofMaterials Consumed		10,557.26	8,482.77	6,061.15	29,766.24	18,789.37		28,073.28
	Changes in inventories of Work-in-Progress		(416.89)	(1,262.99)	(416.40)	(774.74)		(658.25)	(1,025.42)
	Subcontracting Expenses		4,807.16	3,755.44	2,996.00	11,012.85		6,312.67	12,287.59
	Construction Expenses		6,183.67	5,713.22	4,887.68	16,718.17	13,082.86		19,788.42
	Employee BenefitsExpense		1,073.47	1,077.80	739.71	3,150.75		2,011.82	2,861.33
	Finance Costs		225.34	227.19	233.72	598.16		571.17	870.09
	Depreciation and Amortisation Expense OtherExpenses		620.57 234.79	578.90 289.85	276.55 156.35	1,680.81 795.76		688.88 566.62	1,117.50 858.61
	Total Expenses		23,285.37	18,863.18	14,934.76	62,948.00	41,365.14		64,831.40
3	Profit Before Tax(1 - 2)		3,306.33	2,674.87	2,467.46	9,262.36		6,501.63	9,988.16
4	Tax Expenses
	Current Tax		1,218.02	1,071.02	970.31	3,450.50		2,393.05	3,578.43
	Earlieryeartax		-	-	-	-		-	0.45
	Deferred Tax		(57.98)	(152.04)	(20.63)	(198.77)		(31.53)	(27.31)
	TotalTax Expense		1,160.04	918.98	949.68	3,251.73		2,361.52	3,551.57
5	Profit forthe Period (3 -4)		2,146.29	1,755.89	1,517.78	6,010.63		4,140.11	6,436.59
6	OtherComprehensive Income (OCI)
			2.20	4.41	(5.94)	6.61		(14.30)	8.82
	(i) items that willnotbe reclassifiedtoProfit or Loss (net of tax)
			-	25.53	2.06	—		4.95	(11.71)
	(ii) items that willbe reclassifedto Profit or Loss (net of tax)
	TotalOtherComprehensive	income forthe Period	2.20	29.94	(3.88)	6.61		(9.35)	(2.89)
7	Total Comprehensive income forthe Period (5 + 6)		2,148.49	1,785.83	1,513.90	6,017.24		4,130.76	6,433.70
8	Paid-up Equity Share Capital - Face Value Rs10/- each		3,600.00	3,600.00	3,600.00	3,600.00		3,600.00	3,600.00
9	Earnings PerShare of Rs 10/- each (in Rs.) (Not Annualised )		.
	(Basic)		5.96	4.88	4.25	16.70		11.98	18.45
	(Diluted)		5.96	4.88	4.25	16.70		11.98	18.45
						Date: February	09, 2019
		a				Place: Ahmedabad
	r a . tel							LA“) )ON BY
	Managing Director & CEO (DIN:00037633)					wife		a 25/17
						KANTILAL	PATEL &		CO.
			MI.N70.:1591 3
			FRN‘140190W -

PSP Projects Limited

Registered[Office][:][PSP] House, Opp.[Celesta ] Courtyard,[Iscon-Ambli][Road, Ahmedabad][-][ 380 054] CIN :L45201GJZOO8PLC054868Website : www.pspprojects.com

Notes:

1. The above standalone unaudited financial results have been reviewed by the[Audit] Committee and approved by the[Board] of Directors of the company[in][their] respective meetings[held] on February 09,[2019.] The Statutory Auditors have carried out limited review of the standalone financial result for the quarter and nine[months][ended] December 31, 2018.

1. These financial results have been prepared in accordance with Indian Accounting Standards (’lnd AS’) prescribed under section 133 of the Companies Act,[2013][read][with] relevant rules issued thereunder and[in] terms of the Regulation[33][of] the[SEBI] (Listing Obligation and[Disclosures] Requirements) Regulations,[2015 ] (the[”Listing Regulations”),] as modified by[Circular][dated] July[5,][2016.]

1. The Ministry of Corporate Affairs (MCA), on 28 March 2018, notified[Ind][AS][115] "Revenue from Contracts with Customers" as part of the companies (Indian Accounting Standards) Amendment Rules,[2018.][The] new[standard] is effective for accounting periods beginning on or after[1][April,][2018.][The] Company[has][applied][modified] retrospective approach[in] adopting the new[standard][and][accordingly,][there][were][no] significant adjustment required to the[retained] earnings as[at][April][1,][2018.][Also][ the] application[of][Incl][AS][115][did] not[have] any[significant] impact[on:][recognition][and] measurementof revenue[and][related][items][in][ the][ financial][results.]

2. The Company is primarily engaged in construction / project activities[and] accordingly this is the only primary reportable segment as per[Incl][AS][108][—] Operating Segment.

3. Figures relating to previous quarter/year[have been] regrouped /[rearranged,][whenever][make them][comparable][to][current][period’s figures.]

necessary[to]

1. In line with the requirements of Regulation 33 and 52 (4) of Listing Regulations, the results for the quarter and nine months ended December 31,[2018 ] are[available][ on][ the] website of[BSE] Limited (URL: www.bseindia.com) ,[National][Stock][Exchange][of][lndia] Limited (URL: www.nseindia.com) and on company’s website L(URL: www. s ro‘e.cts.com) 1

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