PSPPROJECT

Ref No: PSPPROJECT/SE/62/22-23 October 18, 2022 Corporate Relations Department Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P.J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai- 400 001 Bandra (East), Mumbai – 400 051 Scrip code: 540544 Scrip Symbol: PSPPROJECT Dear Sir/Madam, Subject: Investor Presentation for the quarter and half year ended September 30, 2022 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Investor Presentation for the quarter and half year ended September 30, 2022. Kindly take the same on your record. Thanking You, Yours faithfully, For PSP Projects Limited Kenan Patel Company Secretary and Compliance officer Encl: As Above Investor Presentation Q2 / H1FY23 October 2022 www.pspprojects.com ©2021 – PSP Project Ltd., All Rights Reserved. 1 Contents PSP Projects Limited - Build to Last: 01 The growth story In a Nutshell 02 A look at the quarter gone by 03 Indian Construction Industry 04 The drivers that transcended PPLs growth since inception Precast Factory: 05 Enhancing capabilities. Exploring newer technologies. 06 Investment Rationale 07 Project Profile Key Strategy to strengthen the legacy of trust 08 associated with PSP Brand going forward 09 Awards and Recognition ©2021 – PSP Project Ltd., All Rights Reserved. 2 PSP Projects limited – Build to Last The growth story in a Nutshell § Incorporated in 2008, successfully led by First Generation As on 30 September 2022 Civil engineer having 36 years of experience. 1,500 / 18,000 § India based construction company offering a diversified Workforce / range of construction and allied services across industrial, Contract Labor (avg) institutional, government, government residential, 196 49 ₹5,081 crore residential projects and precast. Completed On-going Order Book* Projects Projects ₹1,850cr § Integrated EPC company across construction value chain During H1FY23 FY22 Largest Project from Design, Construction, Mechanical, Electrical, Plumbing till Date (MEP), Interior, O&M Services. § Geographically diversified with presence in six states viz. ₹1,512 Gujarat, Rajasthan, Karnataka, Uttar Pradesh, Maharashtra 13 ₹1,802 17 'CARE A+; Stable / and New Delhi. crore Completed crore Completed CARE A1+ Order Inflow Projects Projects Order Inflow Credit Rating § Listed on NSE and BSE on May 29, 2017, raising Rs.211.68 crore. 5-year CAGR 34.27% § In December 2021, Commissioned Precast facility in Gujarat Growth Rate 31.22% 31.21% Revenue from with the objective to provide Sustainable Building Solutions FY17-FY22 EBITDA PAT Operations and Technological Upgradation. ©2021 – PSP Project Ltd., All Rights Reserved. * Orders on Hand include Rs.236 crore of Precast 3 A Look at the Quarter gone by www.pspprojects.com ©2021 – PSP Project Ltd., All Rights Reserved. 4 Financial Performance during Q2/H1FY23 Q2FY23 Standalone Highlights Revenue from Operations1 (₹ crore) EBIDTA1 (₹ crore) & EBITDA Margin (%) PAT1 (₹ crore) & PAT Margin (%) YoY Growth -9% YoY Growth -29% YoY Growth -37% 60 40 50 55 35 37 390 30 40 47 25 29 39 30 20 23 357 20 15 345 10 10 5 - - Q2FY22 Q1FY23 Q2FY23 Q2FY22 Q1FY23 Q2FY23 Q2FY22 Q1FY23 Q2FY23 H1FY23 Standalone Highlights Revenue from Operations1 (₹ crore) EBIDTA1 (₹ crore) & EBITDA Margin (%) PAT1 (₹ crore) & PAT Margin (%) YoY Growth -1% Y0Y Growth -9% Y0Y Growth -17% 96 64 94 62 92 94 60 62 708 58 90 56 88 54 86 52 702 84 86 50 51 82 48 80 46 H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 ©2021 – PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 5 Standalone Profit & Loss : Q2 / H1FY23 Particulars (₹ Lakhs) Q2FY23 Q2FY22 YoY (%) Q1FY23 QoQ (%) H1FY23 H1FY22 YoY (%) Revenue from Operations 35,660.39 39,044.08 -9% 34,524.24 3% 70,184.63 70,779.66 -1% Cost of materials consumed including WIP 8,046.56 12,946.80 10,206.57 18,253.13 22,851.37 Construction Expenses 20,994.03 18,549.75 16,889.27 37,883.30 34,422.94 Employee benefits expense 2,248.68 1,551.34 2,179.13 4,427.81 3,070.11 Other expenses 510.58 524.08 538.49 1,049.07 1,023.00 Total Operating Expenses 31,799.85 33,571.97 -5% 29,813.46 7% 61,613.31 61,367.42 0% EBITDA 3,860.54 5,472.11 -29% 4,710.78 -18% 8,571.32 9,412.24 -9% EBITDA Margin 10.83% 14.02% 13.64% 12.21% 13.30% Other Income 833.40 461.83 561.65 1,395.05 841.13 Finance costs 704.93 376.48 559.40 1,264.33 717.51 Depreciation 905.89 703.04 872.35 1,778.24 1,244.95 Profit Before Tax and Exceptional Item 3,083.12 4,854.42 -36% 3,840.68 -20% 6,923.80 8,290.91 -16% Exceptional Gain/(Loss)(net of tax) - - - - - Profit Before Tax and after Exceptional Item 3,083.12 4,854.42 -36% 3,840.68 -20% 6,923.80 8,290.91 -16% Tax Expense 790.81 1,195.40 991.73 1,782.54 2,123.12 Other comprehensive income 2.30 2.31 2.30 4.60 4.61 Profit After Tax 2,294.61 3,661.33 -37% 2,851.25 -20% 5,145.86 6,172.40 -17% PAT Margin (%) 6.29% 9.27% 8.13% 7.19% 8.62% Earnings Per Share (₹) 6.37 10.16 7.91 14.28 17.13 ©2021 – PSP Project Ltd., All Rights Reserved. 6 Standalone Balance Sheet : H1FY23 Particulars (₹ Lakhs) H1FY23 FY22 Particulars (₹ Lakhs) H1FY23 FY22 ASSETS Equity Non current Assets (a) Equity Share Capital 3,600.00 3,600.00 (a) Property, Plant and Equipment 19,795.06 20,601.82 (b) Other Equity 68,217.39 64,871.52 (b) Capital Work-In-Progress - Total Equity 71,817.39 68,471.52 (c) Other Intangible Assets 132.21 135.31 Non-Current liabilities (d) Financial Assets (a) Financial Liabilities (i) Investments 71.68 71.68 (i) Borrowings 2,077.17 1,718.07 (ii) Loans - (b) Provisions 212.58 151.87 (iii) Other Financial Assets 20,359.71 22,785.47 Total Non-Current Liabilities 2,289.75 1,869.94 (e) Deferred Tax Asset (Net) 1,011.50 937.57 Current Liabilities (f) Other Non Current Assets 241.57 191.63 (a) Financial Liabilities Total Non-Current Assets 41,611.73 44,723.48 (i) Borrowings 13,705.10 8,247.62 Current Assets (ii) Trade Payables - Total outstanding dues of micro enterprises and small (a) Inventories 11,426.66 8,064.91 893.14 1,284.41 enterprises - Total outstanding dues of creditors other than micro (b) Financial Assets 27,039.58 24,476.48 enterprises and small enterprises (i) Trade receivables 28,038.48 31,177.92 (iii) Other Financial Liabilities 4,273.08 3,600.55 (ii) Cash and cash equivalents 8,267.10 8,758.63 (b) Other Current Liabilities 21,533.25 18,689.78 (iii) Bank Balances other than (ii) above 15,264.51 10,759.46 (c) Provisions 80.22 19.59 (iv) Loans 724.97 593.25 (d) Current Tax Liabilities (Net) - 0.73 (v) Other Financial Assets 18,552.34 13,339.23 Total Current Liabilities 67,524.37 56,319.16 (c) Other Current Assets 17,647.42 9,243.74 Total Liabilities 69,814.12 58,189.10 (d) Current Tax Assets (Net) 98.30 - Total Current Assets 1,00,019.78 81,937.14 Total Equity and Liabilities 1,41,631.51 1,26,660.62 Total Assets 1,41,631.51 1,26,660.62 ©2021 – PSP Project Ltd., All Rights Reserved. 7 Management Commentary on Key Quarterly Highlights PSP Projects has once again recorded ‘Highest ever Order Book till date of Rs.5,081 crore’. In comparison to all previous H1, the We continued to grow organically by company has received highest ever order inflow of Rs.1,512 crore in focusing on executing projects in H1FY23 as compared to Rs.637 crore during H1FY22, a growth of 137% timely manner while maintaining year on year. consistent quality. There were 14 projects awarded during the quarter: 1. Corporate Office Building Project by a leading multi-national company of value Rs.290 crore. 2. Repeat order in Precast for National High-Speed Project from L&T of value Rs.195 crore 3. Fore Court Development at Ahmedabad Airport of value Rs.128 crore 4. Repeat order to construct Phase II of Noodle plant by a leading multi- national company of value Rs.115 crore. 5. Repeat order to construct manufacturing unit by a leading pharmaceutical company of value Rs.99 crore Mr. Prahaladbhai Patel 6. Archaeological museum of value Rs.97 crore awarded by Government . of Gujarat CHAIRMAN, MD AND CEO PSP PROJECTS LIMITED During Q2FY23, completed 10 projects which includes High rise commercial building in GIFT city, Corporate office building for Indian Potash Limited, Four Precast projects, medical college & hospital in Rajasthan, etc.. All the projects were completed in time. Total projects completed till date totals to 196 projects. ©2021 – PSP Project Ltd., All Rights Reserved. 8 Annual Financial Performance Revenue from Operations1 (₹ Crore) EBITDA1 (₹ Crore) PAT1 (₹ Crore) #CAGR : 34% #CAGR : 31% #CAGR : 31% 161 1,749 257 1,499 129 1,241 191 1,044 90 149 135 81 730 702 64 101 86 51 41 401 66 FY17 FY18 FY19 FY20 FY21 FY22 H1FY23 FY17 FY18 FY19 FY20 FY21 FY22 H1FY23 FY17 FY18 FY19 FY20 FY21 FY22 H1FY23 Notes: # CAGR based on five years completing on 31.03.2022 (FY 22) (1) Numbers have been rounded off ©2021 – PSP Project Ltd., All Rights Reserved. 9 Business Robustness in Numbers EBITDA / Revenue from Operations Profit After Tax / Total Revenue EBITDA Margin% PAT Margin% 14.7% 14.3% 13.9% 12.7% 12.2% 10.9% 9.1% 8.6% 8.5% 8.5% 7.2% 6.4% FY18 FY19 FY20 FY21 FY22 H1FY23 FY18 FY19 FY20 FY21 FY22 H1FY23 ©2021 – PSP Project Ltd., All Rights Reserved. 10 Prudent Working Capital Cycle in Construction Space 76 65 65 55 55 54 53 50 26 26 28 24 26 21 17 15 FY19 FY20 FY21 FY22 Inventory (Days) Receivable (Days) Payable (Days) Working Capital Cycle (Days) ©2021 – PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 11 Along with comfortable Leverage Position FY19 FY20 FY21 FY22 Total Debt (₹ crore) 26 75 81 100 Networth (₹ crore) 371 457 538 685 Debt-Equity (x) 0.07 0.16 0.15 0.15 ©2021 – PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 12 Indian Construction Industry www.pspprojects.com ©2021 – PSP Project Ltd., All Rights Reserved. 13 An Important growth driver of India’s Economy Initiatives taken by GoI to bolster growth in construction sector 8% Governments Push FDI Inflow Construction Industry’s § High-speed bullet trains and metro rail, construction of Delhi- § The infrastructure and construction sector is contribution to India’s GDP Mumbai Industrial Corridor, concept of sustainable smart cities allowed for 100% foreign investment through like GIFT City, hospitals and greenfield industrial smart city automatic route. projects are contributing to India’s dynamic transformation 15.9% § GoI announced an ambitious project of adding 100 new Growth airports by 2024 Consolidation Industry is expected to register an § Pradhan Mantri Awas Yojana (PMAY) program, to provide § Consolidation in the private sector will further annual growth of 15.9% in real affordable housing to all urban poor by 2022 terms in 2021, following a decline intensify as stronger players will become more of 12.3% in 2020. § National Infrastructure Pipeline (NIP) earmarked 7,400 projects stronger by gaining market share focused on building roads, housing, urban development, railways, conventional power, renewable energy, and irrigation. $5tn § The extension of tax holiday up to March 2022 announced by Pandemic induced Incentives the Finance Minister to increase the supply of affordable Economy housing units § GoI has introduced favourable policies such as GoI’s intent of lowering the bank guarantee requirement, faster § Allocated ₹ 6,450 crore in Union Budget 2021-22 for the Smart becoming a $5tn economy clearance of bills, and speedier clearances / Cities Mission it plans to achieve through approvals. infrastructure development due to the high multiplier effect We believe that owing to healthy balance sheets, access to capital and many unlisted/weaker players being shunted out of the market, the market share of large organized players is set to grow further in the next 2-3 years ©2021 – PSP Project Ltd., All Rights Reserved. 14 Drivers that transcended PPLs growth since inception www.pspprojects.com ©2021 – PSP Project Ltd., All Rights Reserved. 15 Our Hybrid Approach with presence in Private and Public projects Industrial Projects Institutional Projects Government Projects Government Precast Residential Projects Construction of industrial Construction of buildings for Undertake various challenging and Manufacture all elements of buildings for pharmaceuticals, hospitals and healthcare prestigious real estate and Execution of prestigious residential- building and infrastructure Tyre, Dairy, Engineering services, educational infrastructure projects spearheaded by cum-commercial projects, industry, such as Beams, companies, etc. institutes, malls, hospitality the government and PSUs such as spearheaded by the government in Columns, Slabs, Load Bearing services and corporate offices. CM’s Office, Riverfront Development, the affordable housing category Walls, Partition Walls, Staircase, Renovation of Vidhansabha Building. under Mukhya Mantri GRUH Yojana. and Lift Cores, among others 63* 83* 26* 03* 17* § Total Order on Hand as on 30 September 2022: ₹ 5,081 crore § Government projects comprised 56% of the order book in Q2FY23 vs 68% in FY22. § By diversifying skill sets and order book across different projects, PSP Projects can pursue a broader range of project tenders and consequently, optimize business volume and profit margins 071 83 392 073 685,1 379 695 221,1 094 708,1 869,1 409,1 447 037 769 359 38 275 554 694 44 632 Residential Projects Construction of private residential buildings for group housing, townships and independent houses for select private customers. 04* * Number of Projects Completed as on 30 September 2022 Oder Book across Private & Public FY20 FY21 FY22 Q2FY23 Projects1 (₹ crore) Industrial Institutional Government Govt. Resi. Residential Precast ©2021 – PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 16 Robust Order Book and Growing Pre-Qualification Credentials Growing Order Book1 (₹ crore) Work on hand across Private and Public Projects As on Q2FY23 5% 10% 5,081 4,324 4,121 37% 3,074 2,978 22% 2,559 7% 19% FY18 FY19 FY20 FY21 FY22 Q2FY23 Government Govt Residential Industrial Institutional Residential Precast ©2021 – PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 17 Our Confidence to replicate the Success Story outside our Home State § Being headquartered in Ahmedabad, not only are we Growing Geographical Footprint strategically located in the core market of Gujarat but have gradually expanded our presence to six different states of India, establishing a pan-India presence. As on Q2FY23 § Now, PPL is present in six states viz. Gujarat, Rajasthan, UP, Karnataka, New Delhi and Maharashtra. 14% § Initially, PPL established itself as a renowned name in the construction space in Gujarat construction market, after 8 36% years of operations only in 2016 did PPL hatch out of Gujarat. 0.5% Badaun § Dairy Project for Bangalore Milk Union Limited in Karnataka New Delhi Lucknow Kushinagar and Medical College & Hospitals at two locations in Rajasthan Kanpur Auraiya are key projects completed outside the state of Gujarat. Sultanpur Varanasi GandhinagarLalitpur Sonbhadra Ahmedabad Nadiad Key on-going projects outside Gujarat (₹ crore) Jamnagar Vadodara Bhavnagar Dahej Surat UTTAR PRADESH: EPC projects for Medical 1 1,491 Colleges and Hospitals at 7 locations in Uttar Pradesh Bhiwandi 50% Pandharpur MAHARASHTRA: EWS Housing Projects in 2 759 Bhiwandi and Pandharpur Gujarat Rajasthan UTTAR PRADESH: Development of Shri Kashi Kanakpura 3 Vishwanath Dham and its Beautification Including All 398 Mandya Maharashtra UP Development Works 4 UTTAR PRADESH: Affordable Housing project 238 Giving momentum to our strategy of geographical diversification, 50% RAJASTHAN: Medical Colleges and Hospitals in 5 27 of order book are from markets other than Gujarat as on 30 September 2022 Rajasthan ©2021 – PSP Project Ltd., All Rights Reserved. 18 Belief, Trust and Support of our Customers Proven Track Record Ethics & Trust Biggest Project In delivering projects on-time and quality Strong work Ethics makes PSP a Surat Diamond Bourse projects, the faith and confidence rested by the favourable and preferred choice clients can be assessed by esteemed projects and repeat orders secured over the years. Worked with more than 100 private and public clients across India PSP has repeatedly serviced projects for: Zydus Cadila Group 29 Torrent Group 15 UP – Public Works Department 8 Sabarmati Riverfront 8 SDB is the world’s largest office building Adani Group 7 on a single basement. Claris Group 6 It’s a ₹1,850 Crore project, size of 66 lakh sq. ft. Road & Building, Gujarat 4 With completion of this project, PPL will enter Reliance 2 the big league of handling prestigious projects Intas Group 2 up to ₹2,500* crore As on FY22 ©2021 – PSP Project Ltd., All Rights Reserved. 19 Clientele with High Quality Business Work on Hand as on 30 September 2022 - (Major Projects) | [₹ Crore] Outstanding Description of Project Location Name of the Client Contract value Contract Value Medical Colleges & Hospitals at 7 Locations Uttar Pradesh Public Works Department 1,491 1,239 EWS Housing Project Maharashtra Municipal Corporation 601 601 Sports Complex Gujarat Municipal Corporation 504 488 Corporate Office Building Gujarat Institutional 290 290 Residential Project Gujarat Private Company 252 240 Residential Buildings of PAC Mahila Battalion Uttar Pradesh Public Works Department 239 224 at Badaun, UP Residential Project Gujarat Adani Estate Management Pvt. Ltd. 349 210 Precast Order for National High Speed Project Gujarat L&T 195 195 Construction Of Steel Plant Gujarat Private Company 257 145 Fore Court Development at Ahmedabad Gujarat Private Company 128 128 Airport Noodle Factory Phase II Gujarat Industrial 115 115 Total 4,421 3,876 ©2021 – PSP Project Ltd., All Rights Reserved. 20 The Team that made PPL fulfil its ambitions Ably Supported by Experienced Professionals Mahesh Patel Maulik Patel Hetal Patel Viplav Shah Girish Ramkumar Senior Vice President - Operations Vice President - Procurement Chief Financial Officer Vice President - Planning Vice President - HR § Holds a diploma in civil § Attended the course for § Member of the Institute of § Diploma in Construction § Master Of Arts - Political engineering bachelor’s degree in commerce Chartered Accountants of India Technology from School of Science) From Karnataka Stare and holds a masters degree in Building Science & Technology Open University. An MBA from § Heads the project operations of § Heads the procurement, commerce from Gujarat (Currently CEPT University) and Indian Institute of Management our company, management of plants and University Management Education (IIM), Kozhikode in 2014. machineries and form works. § He has been an instrumental Program from IIM Ahmedabad. § Also a certified internal auditor § He brings with him nearly 24 part of all the projects § He has been associated with from the Institute of Internal § He brings 25 years of years of diverse experience in completed by PSP Projects till the company since inception Auditors (USA) experience in the construction diverse Industries date. and played a pivotal role in field. PPL’s growth. § With our company since the § He brings 25 years of § He has been with the company past 8 years experience in the construction since inception field. ©2021 – PSP Project Ltd., All Rights Reserved. 21 The Team that made PPL fulfil its ambitions Ably Supported by Experienced Professionals Ramjibhai Parmar Pratik Thakkar Kenan Patel Sanjay Kumar Rai Pushpesh Singh General Manger - Tender General Manager - BD Company Secretary and Sr. Manager - SAP/IT Dy. General Manager – Contracts Compliance Officer § Ramjibhai Parmar is the § Pratik Thakkar is General § Associate member of the § Sanjay Kumar Rai is the Senior § Pushpesh Singh is Manager – General Manger - Tender of Manager - Business Institute of company SAP/IT Manager at our Contracts of our company our company Development of our company Secretaries of India (ICSI) company § Bachelor’s degree in civil § Diploma in civil engineering § Attended the course for § Holds a bachelor’s degree in § Attended the course for engineering from Gujarat bachelor’s degree in commerce law from Gujarat University bachelor’s degree in science University § Associated with our company and diploma in marketing from Ch. Charan Singh for the past 10 years § 7 years of experience in all § 12 years of experience in management University (Meerut) and Company Secretarial functions construction industry completed honours diploma in § Experience in Business and Compliances computer from NIIT § 8 years of experience with Development Larsen & Toubro § Experience in IT and SAP § Associated with our company support across Packing, for the past 7 years Chemical, Textile, Steel and Automobile industry § Working with our company since 2018 ©2021 – PSP Project Ltd., All Rights Reserved. 22 Leadership and Management Prahaladbhai Patel Pooja Patel Sagar Patel Sandeep Shah Vasishtha Patel Achala Patel Chairman, MD and CEO Whole Time Director Executive Director Independent Director Independent Director Independent Director He has a bachelor’s degree in She has a bachelor’s degree in He has a bachelor’s degree He has a double bachelor’s He has a bachelor’s degree She is a Post Graduate and civil engineering from Saurashtra civil engineering from Gujarat in civil engineering from degree in commerce and law in business administration M.Phil from school of University, and has been working Technological University and a Gujarat Technological from Gujarat University. He is from Sardar Patel University languages, Gujarat in the civil construction space by post-graduate diploma in University. He is actively currently a director of Creative and a master’s degree in University. She is Gold way of a proprietorship business, financial management from involved in project planning, Infotech Private Limited. He has business administration Medallist and 1st rank before the incorporation of PSP Ahmedabad Management project tendering, contracts, many years of experience in the from South Gujarat holder at University level at Projects Limited. He has an Association. She has been and execution of projects. business of information University. Over 20 years of both her Graduation and experience of 36 years in the actively involved in planning of technology products and experience he has had in Post-Graduation levels. She construction space, and has projects, procurement of services. management and exports, is a founder and Designated played a significant role in the materials and execution of he has held managerial Partner of MAP Power LLP growth of PSP Projects since its projects for PSP Projects positions in international and Chopper Worx incorporation. He has been Limited since 2015. She has also division of several Construction LLP. She is featured in the book titled represented PSP Projects in companies. He is currently a actively involved in the ‘Business Game Changers: Indian Concrete Institute Managing Director of business of high voltage Shoonya se Shikhar’ authored by Chapter-1, Ahmedabad. Multico Exports Private power transmission Prakash Biyani. Limited, which is involved in representing few European the export of companies in India and in pharmaceuticals and raw few neighbouring countries materials. since more than 16 years. ©2021 – PSP Project Ltd., All Rights Reserved. 23 Our 14 years of Journey of Constructing Buildings Started Operations in Uttar Pradesh with a marquee SAP Implementation projects "Beautification of Sri Kashi Vishwanath Dham" Started Operations in Karnataka & Rajasthan Started Turnkey Awarded project for Projects Started Construction work for Beautification of PSP's Precast Incorporation of riverfront Manufacturing unit 2008 2009 2010 2011 2014 2015 2016 2017 2020 2021 PSP Projects Listed Acquired business on NSE & BSE of BPC Projects Awarded order to Awarded 7 Medical construct 72-Meter- Started design & College & Hospitals High Hospital, build (EPC) project for on EPC Basis in UP Ahmedabad Affordable Housing in Commissioned the Ahmedabad Awarded project to precast factory and construct Medical received first order College & Hospital from L&T Awarded project for for Leading Medical Inauguration of Socitey, construction of CM’s office Awarded Surat Diamond 1st Order inside the first Kashi Vishwanath Ahmedabad Bourse Project Smart City - GIFT City, Later Dham by PSP did 6 Projects in GIFT Honourable PM Narendra Modi ji ©2021 – PSP Project Ltd., All Rights Reserved. 24 Precast Facility Enhancing capabilities. Exploring newer technologies A state-of-the-art manufacturing plant of precast concrete building. Benefits of Precast Manufacturing Facility Production Capacity Phase I § Reduces labour-intensive 1 Mn. Sq. ft. traditional building methods by way of maximum prefabrication and use of cutting-edge Spread across technology, 60 Acres § Thereby reducing turnaround time for projects, Project Cost § Unlocks the best land potential, ₹109 Crore § Helps in delivering consistent quality, § Precast enables manufacturing all elements of building and infrastructure industry, such as Beams, Columns, § Helps to increase operating Slabs, Load Bearing Walls, Partition Walls, Staircase, and Lift Cores, among others. efficiency and margins. § Going forward the precast capacity will be increased to 3 mn. Sq.ft. § Order Book from Precast is to the tune of ₹ 236.43 crore. First Order received was from L&T to the tune of ₹ 49 crores as part of National High Speed Rail project. Balance orders are from Residential and Industrial segments. Offsite Modular Construction Technology is the future to achieve seamless quality, speed in delivery and larger volumes in a controlled environment. ©2021 – PSP Project Ltd., All Rights Reserved. 25 Precast Factory ©2021 – PSP Project Ltd., All Rights Reserved. 26 Investment Rationale One-stop shop solution construction company present throughout the value chain starting from planning, design, construction and post-construction services including MEP work and other interior fit-outs which provides us with several opportunities, faster project turnaround time & higher ticket size. With proven track record, financial discipline, multi vertical presence, large equipment base and cutting-edge technologies, the company has managed to create a strong brand recall synonymous with trust. Execution capabilities have grown significantly with time, both in terms of the size of projects that we bid for and execute, and the number of projects that we can execute simultaneously, upon successful completion of SDB, PSP becomes eligible to bid for larger value projects. Prudent financial performance, Comfortable leverage position at 0.15 times (incl. mobilization advance), giving sufficient room to raise debt in the future. Despite being WC intensive, the company has comfortable WCC at 28 days. At the helm is an Experienced, Skilled and Passionate first-generation entrepreneur whose passion to build quality buildings aided PSP to attain manifold growth along with support and dedication of experienced team and Process driven approach followed by PSP. ©2021 – PSP Project Ltd., All Rights Reserved. 27 Project Profile Prominent Projects Completed in FY22 NOODLE FACTORY PROJECT IN GUJARAT SPORTS COMPLEX FOR AHMEDABAD UNIVERSITY HOSPITAL PROJECT IN UDAIPUR RAJASTHAN INTERIOR FIT-OUT AT LEELA HOTEL, GANDHINAGAR ZYDUS HOSPITAL, BARODA AUDA LIBRARY, AHMEDABAD ©2021 – PSP Project Ltd., All Rights Reserved. 28 Landmark Projects – Kashi Vishwanath Dham ©2021 – PSP Project Ltd., All Rights Reserved. 29 Landmark Projects – Surat Diamond Bourse Actual image October.22 ©2021 – PSP Project Ltd., All Rights Reserved. 30 Landmark Projects– Surat Diamond Bourse Actual image October.22 ©2021 – PSP Project Ltd., All Rights Reserved. 31 Prominent Projects – Smart City Prestige Fintech IBIS Hotel by Brigade World Trade Center BSE Brokers Forum Brigade International Finance Center The Signature by Hiranandani ©2021 – PSP Project Ltd., All Rights Reserved. 32 Prominent Projects ZYDUS HOSPITAL SITAPUR (EPC PROJECT) MEDICAL COLLEGE & HOSPITAL AT DAHOD BEAUTIFICATION OF AHMEDABAD C.G.ROAD R&D AND RESEARCH CENTERS IN GUJARAT (EPC PROJECT) ©2021 – PSP Project Ltd., All Rights Reserved. 33 Prominent Projects COMMERCIAL BUILDING AT GIFT CITY ZYDUS CORPORATE HOUSE AT AHMEDABAD PUNISKA HEALTHCARE PLANT BANGALORE MILK UNION DAIRY PLANT AT GRAND MERCURY HOTEL AT GIFT CITY MEDICAL COLLEGE AND HOSPITAL FOR KANAKPURA, KARNATAKA FOR BRIGADE GROUP DHARAMSINGH DESAI UNIVERSITY (DDU) ©2021 – PSP Project Ltd., All Rights Reserved. 34 Prominent Projects BRIGADE INTERNATIONAL GOVERNMENT OFFICE BUILDING RIVER FRONT DEVELOPMENT HOSPITAL PROJECT FINANCIAL CENTRE AT GIFT CITY ZYDUS HOSPITALS DAIRY PROJECT AFFORDABLE HOUSING PROJECT GOVERNMENT PROJECT ©2021 – PSP Project Ltd., All Rights Reserved. 35 Key Strategies www.pspprojects.com ©2021 – PSP Project Ltd., All Rights Reserved. 36 Key Strategies Building is my Focus on Building construction (commercial, residential, industrial & institutional) passion Leverage our position Strengthen our Mr. Prahaladbhai Patel as a fast-growing human capital Chairman, MD and CEO construction company in India Enhance our project Expand our geographical execution capabilities – footprint, projects in UP, In Sync with the latest Rajasthan, Karnataka and Technology Maharashtra Augment customer relationships and optimize our project mix ©2021 – PSP Project Ltd., All Rights Reserved. 37 Awards and Recognition www.pspprojects.com ©2021 – PSP Project Ltd., All Rights Reserved. 38 Awards and Recognition PSP Projects Ltd has been awarded as Fastest Growing Construction Company PSP Projects Ltd has been awarded as India’s Top Challengers during the (below 2000 Cr Category) during the Construction World Annual Awards 2022 Construction World Annual Awards 2021 ©2021 – PSP Project Ltd., All Rights Reserved. 39 Awards and Recognition PSP Projects Ltd has been awarded as 2nd Fastest Growing Construction Company (below 2000 Cr Times Inspiring Entrepreneur Award for the Fastest Patidar Udhyog Ratna Award by Sardardham 2020 Category) 3rd year in a row during the Construction Growing Construction Company of the Year 2020 World Annual Awards 2021 ICI-Ultratech Outstanding Structure Awards 2020 ICI-Ultratech Outstanding Structure Awards 2020 ICI-Ultratech Outstanding Structure Awards 2020 (State) in the category – Commercial (Regional) in the category – Institutional (Regional) in the category - Mass Housing awarded to our project “ONE42" awarded to our project – “Lilavati Library at CEPT" awarded to our project “GHB Naranpura" ©2021 – PSP Project Ltd., All Rights Reserved. 40 Safe Harbor Statement This document does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or its joint ventures or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax or other product advice. This document has been prepared by the Company based on information available to them for use at a non-deal road show presentation by the Company for selected recipients for information purposes only and does not constitute a recommendation regarding any securities of the Company or any of its subsidiaries or its joint ventures or affiliates. The information has not been independently verified. No representation, warranty, guarantee or undertaking (express or implied) is made as to, and no reliance should be placed on, the accuracy, completeness or correctness of any information, including any estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein and, accordingly, none of the Company, its advisors and representative and any of its or their affiliates, officers, directors, employees or agents, and anyone acting on behalf of such persons accepts any responsibility or liability whatsoever, in negligence or otherwise, arising directly or indirectly from this document or its contents or otherwise arising in connection therewith. The Company may alter, modify or otherwise change in any manner the contents of this document, without obligation to notify any persons of such change or changes. This document contains certain supplemental measures of performance and liquidity that are not required by or presented in accordance with Indian Accounting Standards or Indian GAAP, and should not be considered an alternative to profit, operating revenue or any other performance measures derived in accordance with Indian Accounting Standards or Indian GAAP or an alternative to cash flow from operations as a measure of liquidity of the Company. The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. By accessing this presentation, you accept that this disclaimer and any claims arising out of the use of the information from this presentation shall be governed by the laws of India and only the courts in Ahmedabad, Gujarat, India and no other courts, shall have jurisdiction over the same. ©2021 – PSP Project Ltd., All Rights Reserved. 41 For more information please contact: Thank You PSP Projects Limited Ernst & Young LLP Hetal Patel Krishna Patel / Vikash Verma grievance@pspprojects.com krishna.patel2@in.ey.com ✉ ✉ vikash.verma1@in.ey.com ✉ PSP Projects Limited ‘PSP House’, Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, Iscon-Ambli Road, Ahmedabad - 380058 NSE: PSPPROJECT | BSE: 540544 | ISIN: INE488V01015 © 2020 PSP Projects Limited, All Rights Reserved. “PSP Projects” and The PSP Projects Logo are trademarks of PSP Projects Limited. In addition to Company data, data from market research agencies, Stock Exchanges and industry publications has been used for this presentation. This material was used during an oral presentation; it is not a complete record of the discussion. This work may not be used, sold, transferred, adapted, abridged, copied or reproduced in whole on or in part in any manner or form or in any media without the prior written consent. All product names and company names and logos mentioned herein are the trademarks or registered trademarks of their respective owners. ©2021 – PSP Project Ltd., All Rights Reserved. 42