PSP Projects Limited — Investor Presentation 2019

Feb 9, 2019

Ref No: PSPPROIECT/SE/107/18-19 February 09, 2019

Corporate Relations Department Listing Department BSE Limited National Stock Exchange ofIndia Limited Floor 25, P]. Towers,

Dalal Exchange Plaza, Bandra Kurla Complex, Street, Mumbai- 400 001 Bandra (East), Mumbai — 400 051 Scrip code: 540544 Scrip Symbol: PSPPROJECT

Dear Sir/Madam,

Subject: Investor Presentation for Q3 of FY 18-19

Pursuant to Regulation 30 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Investor Presentation for the quarter and nine months ended December31, 2018.

Kindly take the same on your record.

Thanking You,

For PSP Projects Limited

a /

M1 tali Chn'flhary Company Secretary

1. Encl.: As above

PSP Projects Limited

Investor Presentation – Q3FY19

February 2019

HURUN REPORT INDIA

OUR MANAGING DIRECTOR & CEO, MR. P.S.PATEL IS AWARDED WITH THE 2018 "MOST RESPECTED ENTREPRENEUR AWARD - CONSTRUCTION" BY HURUN REPORT INDIA ON 13TH DECEMBER 2018 AT MUMBAI

13th Dec 2018, Four Seasons, Mumbai

FINANCIAL SNAPSHOT

Result summary Q3 FY19 (Rs. Cr.)

Result summary 9M FY19 (Rs. Cr.)

RIGHT COMPANY, RIGHT PLACE, RIGHT TIME. Multidisciplinary construction company offering a diversified range of construction and allied services Design to construction to allied works to interior fit outs Experience across industrial, institutional, government, government residential and residential projects Multiple and concurrent project management capability Unmatched track record of timely and quality delivery Executing projects largely in Gujarat; gradually turning pan-India Business commitment resulted in repeat business from a number of Execution experience in smart cities 1 2 3 4

clients

5 6 7 8

CAPABILITIES

People ramp-up15 in 2008 to morethan 1000 direct plus8000+ contractemployees1	Plants, machineryand vehiclesInvested Rs132cr inassets for timelyproject delivery2	IT investmentsImplemented SAP andCANDY; enhancedinformed decisionmaking3	CapabilityMultiple projectlocation management4
ProvenExtensive experienceand proven trackrecord in deliveringhigh-valued and timecritical projects withquality5	Diverse capabilityMulti-storied buildings,high-rises, hospitals,industrial buildings,educationalinstitutions,commercial buildings6	Customer typesGovernment andprivate clients7	AccreditationISO 9001, ISO 14001and ISO 45001(quality, environmentprotection and workersafety)8

Marquee Project

Executing single-largest contract of Rs 1575# cr of Surat Diamond Bourse

#Excluding GST Project tenure: 30 months

SURAT DIAMOND – WIP (ACTUAL SITE IMAGES)

SURAT DIAMOND – WIP (ACTUAL SITE IMAGES)

WORK ON HAND (MAJOR PROJECTS)

(Rs. Lakhs)

Project	Client	Project Value	OutstandingOrderBook
Surat Diamond Bourse Main Contract Works	SDB Diamond Bourse	157,500	128,386
Construction of Medical College and Hospital atDahod, Gujarat	RamanbhaiFoundation(Zydus CadilaGroup)	22,500	21,291
Affordable Housing at Pandharpur, Maharastra	PandharpurMunicipalCorporation	17,645	17,645
Multi-tenanted office for DSCCSL at GIFT City, Gujarat	DalalStreet CommercialCooperative Society Ltd.	13,050	13,050
ZydusHospital at Baroda, Gujarat	ZydusHospitals & HealthcareResearch Pvt. Ltd.	10,160	10,160
Factory Building for the proposed LMC Plant at Dahej,Gujarat	MRF LIMITED	8,390	7,392
Super specialty Block of Government Medical Collegeat Bhavnagar Gujarat	Bridge & Roof Co. (India) Ltd	7,860	6,984
Hospital Building near SugenMega Power Project,Surat	TornascentCare Institute	6,788	6,576
Student Activity Center,Ahmedabad	Ahmedabad University	5,150	5,150

PREFERRED CHOICE

Frugal coststructure;enhancedcompetitiveness	Active promoterinvolvement;enhanced clientassurance	Track record oftimely projectscompletion withcommitted quality
Large and multipleprojectmanagementcapability	Select choice ofmargin-enhancingprojects	AVERAGETICKETSIZE OFPROJECTS30.30RsCrIn 2018-19(31.12.2018)
	PROJECTS UNDER EXECUTION
40	(as on 31stDec 2018)	8.54RsCrIn 2012-13

STRENGTHS

Execution record:

Diverse projects mix; completed projects across segments.

Robust orders: Order book of Rs 2701 cr as on 31st Dec 2018 (to be addressed within 24 to 30 months)

Experience: Promoter (Prahaladbhai Shivrambhai Patel) with 30+ years of sectoral experience; supported by experienced professionals

1 2 3 4

Financial strength:

A strong balance sheet helps in successful project completion

PSP received repeat business from

Torrent Pharma, Cadila Healthcare, DDU, BAMUL.

Quality

• Build to last
• Operating manuals are strictly followed
• Strict guidelines for materials used for construction

Plant and machinery

• Owns state-of-the-art machinery
• Captive equipment bank
• Imported machinery for external plaster, painting and formwork material among others

1

2

3

4

5

Execution planning

• Centralised project monitoring team
• Meticulous planning involving finance, manpower, plant and machineries helped in continued organisational success

Supply chain management

• Long-term association with suppliers and contractors for quality and assured supply
• Track record of on-time payment

Worker safety

• Ensures the standard operating procedures are maintained across sites
• Conducts general and job specific safety trainings, mock drills, tool box talks, safety awareness programmes, medical check-up and other programs in the interest of workers

PILLARS OF SUCCESS

WIDENING HORIZONS

" " Building is my passion

P.S. Patel, Chairman, Managing Director and CEO

Focus on buildingsconstruction(commercial,residential,industrial andinstitutional)	Steady investmentin people,equipment,technology andsystems,strengtheningbusinesssustainability	Strong qualificationcapabilities toparticipate in highvalue projects(worth Rs 400-500crore) across India
Extending fromGujarat to othergeographies;infrastructure inplace	Executing twoprojects each inRajasthan andKarnataka;Awarded oneProject inMaharastra	Intending toincrease nonGujarat revenue to30% of totalbusiness

WIDENING HORIZONS Contd… - STANDALONE WORK ON HAND RS. 2701 CR.

WIDENING HORIZONS Contd…

STANDALONE WORK ON HAND RS. 1417 CR. (EXCLUDING SURAT DIAMOND BOURSE PROJECT)

WIDENING HORIZONS Contd… – REVENUE BREAK-UP FOR THE Q3FY19 – RS. 261.09 CR

EXPANDING HORIZON: ONE-STOP BUILDINGS CONSTRUCTION SHOP

Commenced as Civil construction contractor

Extended to Mechanical, Engineering and Plumbing (MEP), Interior & now O&M Services too.

Now providing complete solution – Design to construction – one-stop shop

Complementary alliances with major design firms and MEP consultants

PROMINENT PROJECTS COMPLETED IN FY19

Brigade International Financial Centre at GIFT City, Gandhinagar

Renovation of Gujarat Vidhansabha, Gandhinagar

Sabarmati Riverfront Development Co. Ltd. (SRFDCL) Office Building, Ahmedabad

PROMINENT PROJECTS

Swarnim Sankul 1 & 2 Construction and interior work

Sabarmati River Front development Hospital, Residential Building and Medical College for GCS Medical College, Hospital and Research Centre

Zydus Hospitals Kaira District Co-operative Milk Producers' Union Limited (Amul Dairy)

Gujarat Housing Board,Naranpura, one of the Largest affordable housing project in Gujarat

PRIDE-ENHANCING CLIENTELE

• Sabarmati Riverfront Development Corporation Limited,
• Cadila Healthcare Limited,
• Care Institute of Medical Sciences Limited (CIMS),
• Claris Injectables Limited,
• Emcure Pharmaceuticals Limited,
• Gelco Electronics Private Limited,
• GCS Medical College, Hospital and Research Centre (managed by the Gujarat Cancer Society),
• The Government of Gujarat (through the Executive Engineer, Capital Project Division),
• Inductotherm (India) Private Limited,
• Intas Pharmaceutical Limited,
• Kaira District Co-operative Milk Producers' Union Limited (Amul Dairy),
• KHS Machinery Private Limited,
• Nirma Limited,
• Torrent Pharmaceuticals Limited
• WTC Noida Development Company Private Limited
• SDB Diamond Bourse

BUSINESS ROBUSTNESS IN NUMBERS

BUSINESS ROBUSTNESS IN NUMBERS (STANDALONE)

PERFORMANCE HIGHLIGHTS (STANDALONE)

2019*

SEQUENTIAL QUARTERLY PERFORMANCE

Q3FY19 Standalone unaudited Profit & Loss Statement (Ind AS) (Rs. In Lakhs)

Particulars	Q3 FY19	Q2 FY19	Q3 FY18	Q-o-Q	Y-o-Y	9MFY19	9MFY18	Y-o-Y
Revenue from Operations	26,108.91	20,994.88	17,079.98	24%	53%	70,575.69	46,615.34	51%
Cost of materials consumed including WIP	10,140.37	7,219.78	5,644.75			28,991.50	18,131.12
Subcontracting Expenses	4,807.16	3,756.44	2,996.00			11,012.85	6,312.67
Construction Expenses	6,183.67	5,713.22	4,887.68			16,718.17	13,082.86
Employee benefits expense	1,073.47	1,077.80	739.71			3,150.75	2,011.82
Other expenses	234.79	289.85	156.35			795.76	566.62
Total Operating Expenses	22,439.46	18,057.09	14,424.49	24%	56%	60,669.03	40,105.09	51%
EBITDA	3,669.45	2,937.79	2,655.49	25%	38%	9,906.66	6,510.25	52%
EBITDA Margin (%)	14.05%	13.99%	15.55%			14.04%	13.97%
Other Income	482.79	543.17	322.24			1,634.67	1,251.43
Finance costs	225.34	227.19	233.72			598.16	571.17
Depreciation	620.57	578.90	276.55			1,680.81	688.88
Profit Before Tax	3,306.33	2,674.87	2,467.46	24%	34%	9,262.36	6,501.63	42%
Tax Expense	1,160.04	918.98	949.68			3,251.73	2,361.52
Other comprehensive income	2.20	29.94	(3.88)			6.61	(9.35)
Profit After Tax	2,148.49	1,785.83	1,513.90	20%	42%	6,017.24	4,130.76	46%
PAT Margin (%)	8.08%	8.29%	8.70%			8.33%	8.63%
EPS (INR)	5.96	4.88	4.25			16.70	11.98

EXPERIENCED MANAGEMENT

Prahaladbhai Shivrambhai Patel

Chairman, Managing Director and CEO

Bachelor's degree in civil engineering

30+ years of construction experience

Featured in book 'Business Game Changer: Shoonya se Shikhar' by Prakash Biyani and Kamlesh Maheshwari, Received 'The Dena Bank Hercules Award' by Gujarat Innovation Society for innovation and quality in India's construction and infrastructure sector.

EXPERIENCED MANAGEMENT contd…

Mahesh Patel Vice President – Operations

Mahesh Patel is the Vice President - Operations of our Company. He holds a degree of diploma in civil engineering. He has been with the company since inception & has played a major role in company's success, He has 25 years of experience in project execution the construction industry.

Maulik Patel Director – Procurement

Maulik Patel is the

Director - Procurement of our Company. Along with Mahesh Patel, Maulik Patel is also associated with company since company's establishment & has played a vital role in company's success story. He holds a Bachelor's Degree in Commerce.

Hetal Patel Chief Financial Officer

Hetal Patel is the Chief Financial Officer of our Company. She holds a Master's degree in commerce from Gujarat University. She is a member of the Institute of Chartered Accountant of India. She is also a certified internal auditor from the Institute of Internal Auditors, USA. She has 18 years of experience in accounts and finance.

R.B.Parmar General Manger – Tender

Ramjibhai Parmar is the General Manger - Tender of our Company. He holds a Diploma in Civil Engineering. He has 30 years experience in Contracts & Tendering of a Construction Industry.

Pratik Thakkar General Manager – Business Development

Pratik Thakkar is General Manager - Business Development of our company. He holds a Bachelor's Degree in Commerce and a Diploma in Marketing Management. He has 10 years' experience in Business Development in Construction Industry.

INFLECTION POINTS IN OUR JOURNEY

PROJECT CLASSIFICATION 1

Industrial projects

• Construction of industrial buildings for pharmaceutical plants, food processing units, engineering units as well as manufacturing and processing facilities.
• Rich experience in catering to pharmaceutical manufacturers
• Constructed industrial facilities for Torrent Pharmaceuticals, Nirma, Intas Pharmaceuticals, Cadila Healthcare, Claris Injectables, KHS Machinery and Inductotherm (India) among others

48

Number of industrial projects executed

PROJECT CLASSIFICATION 2

Institutional Projects

• Construction of buildings for hospitals and healthcare services, educational institutes, malls, hospitality services and corporate offices.
• Track record comprises Zydus Hospital, GCS Medical College, Hospital and Research Centre, Nirma Vidya Vihar and hostel building for PDPU, among others.

35

Number of institutional projects executed

PROJECT CLASSIFICATION 3

Government projects

• Focus only on challenging and prestigious government projects
• Executed marquee projects (Swarnim Sankul 01 and 02 at Gandhinagar, Sabarmati Riverfront Development project works in Ahmedabad, ICEM Building interiors in Ahmedabad)

Number of government projects executed

PROJECT CLASSIFICATION 4

Government residential projects

• Execution of prestigious government affordable residential projects
• Design-build of affordable high-rise residential buildings cum commercial units in Gujarat under the Mukhya Mantri GRUH Yojana for major Gujarat-based public sector customer. 20

2

Number of government residential projects executed

PROJECT CLASSIFICATION 5

Residential projects

• Construction of buildings for group housing and townships
• Construction of independent residences for select private customers.

9

Number of residential projects executed

CERTIFICATIONS

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

Approved Contractor as 'AA' class and "Special Category–1 in Buildings Class" with Government of Gujarat

Registered as 'A' class approved electrical contractor in Roads and Buildings Department, Government of Gujarat

PRESENCE IN THE EMERGING SECTORS LIKE SMART CITIES

Awarded 7 out of 9projects in India'sfirst Smart City –Gift City inGandhinagar	Complying with allthe norms requiredfor buildingconstruction onsmart cities likegreen buildingnorms among others
Constructing Asia'sbiggest officebuilding in DREAMCity, Surat	100Proposed smartcities by thegovernment of India

INDIA. LEAPING GIANT.

Sixth largest globaleconomy (nominal GDPUS$2.454 tn, 2017)	Forex reserves US$400bn (September 8, 2017)	Per capita income Rs103,219 (grew 9.7% over2015-16)	Exports grew 11.52% ($terms) in April-Sept 2017(over previouscorresponding period)
66% of population inworking age group(global largest)	US$498bncumulative FDI inflow(2000-01 to June 2017)	33million tertiaryeducation annualstudent enrolment	35Urbanization fromagglomerations with1mn-plus population in2001 to 53 in 2011

INDIA: RAPIDLY INCREASING CONSTRUCTION NEEDS

• Growing Indian youth population (465 mn estimated, 2021)
• Growing middle-class population (300-350 mn estimated)
• 20 mn unit urban housing shortage* Focus on affordable housing by the Indian government - focus on 'Housing for All'
• Make in India (driving industrial demand)
• Growing family nuclearisation (driving residential demand)
• Declining interest rates driving new projects
• Interest rate subvention for affordable housing projects

INDIA: RAPIDLY INCREASING CONSTRUCTION NEEDS

• Significant healthcare segment investments 3 million beds needed to achieve 3 beds / 1,000 people target by 2025
• Commercial real estate supply in top Indian cities is expected to be at 40-50 mn sq. ft per year until 2020
• Government announced eight Investment Regions along the Delhi Mumbai Industrial Corridor (DMIC) project as National Investment and Manufacturing Zones (NIMZs)
• Government focus on building smart cities
• Rising retail space demand from international brands
• Dedicated clusters across proposed industrial corridors

OPPORTUNITIES

	Simplified taxstructure likeGST	Single windowclearance forprojects
Constructionindustry annualgrowth rate3.95%2012-164.16% 2017-2021	Better FDInorms	Make in Indiainitiativeattractinginvestments inmanufacturing

Construction industry annual growth rate

4.16% 2017-2021

WE END WITH A BIG PICTURE ONCE AGAIN…

Independent	India took just	India likely to
India took 60	seven	emerge as a
years to become	subsequent	US$7 tn
a USD1 tn	years for the next	economy by
economy	trillion	2030
Growing Indiawill need focusedconstructioncompanies	Companies thatcan buildingcomplexstructures in theshortest time	Companies likePSP Projects

SAFE HARBOR STATEMENT

Statements in this 'Presentation' describing the Company's objectives, estimates, expectations or predictions may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Company's operations include global and Indian demand supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Company's principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statement, on the basis of any subsequent development, information or events, or otherwise.

PSP Projects Ltd.

''PSP House", Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, Iscon-Ambli Road, Ahmedabad - 380058

P - +91 79 2693 6200/6300/6400

E – hetal@pspprojects.com I W – www.pspprojects.com