PSPPROJECT

Ref No: PSPPROJECT/SE/88/22-23 January 18, 2023 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 nine months ended December 31, 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 nine months ended December 31, 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 Q3/9MFY23 January 2023 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 Facility: 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 Civil As on 31 December 2022 engineer having 36 years of experience. 1,500 / 18,000 ▪ India based construction company offering a diversified range Workforce / of construction and allied services across industrial, Contract Labor (avg) institutional, government, government residential and 200 46 ₹5,075 crore residential projects. Completed On-going Order Book Projects Projects ₹1,850cr ▪ Integrated EPC company across construction value chain from During 9MFY23 FY22 Largest Project Design, Construction, Mechanical, Electrical, Plumbing (MEP), till Date Interior, O&M Services. ▪ Geographically diversified with presence in six states viz. ₹1,950 Gujarat, Rajasthan, Karnataka, Uttar Pradesh, Maharashtra and 18 ₹1,802 17 'CARE A+; Stable / New Delhi. crore Completed crore Completed CARE A1+ Order Inflow Projects Order Inflow Projects Credit Rating ▪ Listed on NSE and BSE on May 29, 2017, raising Rs.211.68 crore. 5-year CAGR 34.27% 31.22% 31.21% Growth Rate ▪ In December 2021, commissioned Precast facility in Gujarat Revenue from with the objective to provide sustainable building solutions and FY17-FY22 EBITDA PAT Operations technological upgradation aiding in captive consumption. ©2021 –PSP Project Ltd., All Rights Reserved. 3 A Look at the Quarter gone by www.pspprojects.com ©2021 –PSP Project Ltd., All Rights Reserved. 4 Financial Performance during Q3/9MFY23 Q3FY23 Standalone Highlights Revenue from Operations1 (₹ crore) EBIDTA1 (₹ crore) & EBITDA Margin (%) PAT1 (₹ crore) & PAT Margin (%) 10% 15% 80 18% 50 10% 70 74 12% 16% 45 47 7% 9% 486 497 60 11% 62 1 1 2 4 % % 3 4 5 0 6% 7 8 % % 50 30 35 6% 10% 357 40 25 5% 8% 30 39 6% 20 23 4% 15 3% 20 4% 10 2% 10 2% 5 1% - 0% - 0% Q3FY22 Q2FY23 Q3FY23 Q3FY22 Q2FY23 Q3FY23 Q3FY22 Q2FY23 Q3FY23 9MFY23 Standalone Highlights Revenue from Operations1 (₹ crore) EBIDTA1 (₹ crore) & EBITDA Margin (%) PAT1 (₹ crore) & PAT Margin (%) 14% 9% 170 15% 120 10% 9% 1,199 165 168 14% 100 109 7% 8% 160 14% 7% 80 87 155 13% 6% 12% 60 5% 150 13% 4% 40 1,193 145 147 12% 3% 2% 140 12% 20 1% 135 11% - 0% 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 ©2021 –PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 5 Standalone Profit & Loss : Q3/9MFY23 Particulars (₹ Lakhs) Q3 FY23 Q3 FY22 Y-o-Y Q2 FY23 Q-o-Q 9M FY23 9M FY22 Y-o-Y Revenue from Operations 49,739.28 48,562.01 35,660.39 1,19,923.91 1,19,341.67 2% 39% 0.5% Cost of materials consumed including WIP 16,881.32 12,736.06 8,046.56 35,134.45 35,587.43 Construction Expenses 23,997.64 26,013.32 20,994.03 61,880.94 60,436.26 Employee benefits expense 2,347.58 1,639.31 2,248.68 6,775.39 4,709.42 Other expenses 347.88 766.36 510.58 1,396.95 1,789.36 Total Operating Expenses 43,574.42 41,155.05 31,799.85 1,05,187.73 1,02,522.47 6% 37% 3% EBITDA 6,164.86 7,406.96 3,860.54 14,736.18 16,819.20 -17% 60% -12% EBITDA Margin 12.39% 15.25% 10.83% 12.29% 14.09% Other Income 648.03 760.70 833.40 2,043.08 1,601.83 Finance costs 1,012.81 976.17 704.93 2,277.14 1,693.68 Depreciation 984.69 938.31 905.89 2,762.93 2,183.26 Profit Before Tax and Exceptional Item 4,815.39 6,253.18 3,083.12 11,739.19 14,544.09 -23% 56% -19% Exceptional Gain/(Loss)(net of tax) - - - - - Profit Before Tax and after Exceptional Item 4,815.39 6,253.18 3,083.12 11,739.19 14,544.09 -23% 56% -19% Tax Expense 1,285.89 1,561.74 790.81 3,068.43 3,684.86 Other comprehensive income 2.31 2.30 2.30 6.91 6.91 Profit After Tax 3,531.81 4,693.74 2,294.61 8,677.67 10,866.14 -25% 54% -20% PAT Margin (%) 7.01% 9.52% 6.29% 7.11% 8.98% Earnings Per Share (₹) 9.81 13.03 6.37 24.09 30.16 ©2021 –PSP Project Ltd., All Rights Reserved. 6 Management commentary on key quarter highlights • Outstanding order book as on 9MFY23 is Rs.5,075 crore. During 9MFY23, the company has received highest ever order inflow of Rs.1,950 crore We continued to grow organically by excluding GST as compared to Rs.978 crore during 9MFY22, a 100% growth focusing on executing projects in year on year basis. timely manner while maintaining • The company was recently awarded a project by Surat Municipal consistent quality. Corporation worth Rs.1,344.01 crore in January 2023, thereby taking our outstanding order book to Rs.6,418 crore and order inflow as on FY23 to Rs.3,294 crore, surpassing our order inflow guidance of Rs.2,500 crore. • The company has completed 200 projects so far since its inception in 2008 with 85% being private projects and balance Government projects. • During Q3FY23, revenue recorded from all 7 UP projects is to the tune of Rs.165 crore and Rs.268 crore as on 9MFY23. The execution is being streamlined and you will see better execution going forward. Mr. Prahaladbhai Patel • During Q3FY23, revenue growth recorded was 2% YoY largely because of higher proportion of near completion projects during Q3FY22. CHAIRMAN, MD AND CEO • EBIDTA margins have been inline with our guidance. PSP PROJECTS LIMITED ©2021 –PSP Project Ltd., All Rights Reserved. 7 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 1,199 1,044 90 149 147 87 135 81 730 64 101 41 401 66 FY17 FY18 FY19 FY20 FY21 FY22 9MFY23 FY17 FY18 FY19 FY20 FY21 FY22 9MFY23 FY17 FY18 FY19 FY20 FY21 FY22 9MFY23 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. 8 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% 12.3% 10.9% 9.1% 8.6% 8.5% 8.5% 7.1% 6.4% FY18 FY19 FY20 FY21 FY22 9MFY23 FY18 FY19 FY20 FY21 FY22 9MFY23 ©2021 –PSP Project Ltd., All Rights Reserved. 9 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 10 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 11 Indian Construction Industry www.pspprojects.com ©2021 –PSP Project Ltd., All Rights Reserved. 12 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% ▪ GoIannounced 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 intensify as stronger players will become more terms in 2021, following a decline ▪ National Infrastructure Pipeline (NIP) earmarked 7,400 projects stronger by gaining market share of 12.3% in 2020. 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 ▪ GoIhas introduced favourable policies such as lowering the bank guarantee requirement, faster GoI’sintent of ▪ 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. 13 Drivers that transcended PPLs growth since inception www.pspprojects.com ©2021 –PSP Project Ltd., All Rights Reserved. 14 Hybrid Approach with presence in Private and Public projects Industrial Projects Institutional Projects Government Projects Government Residential Projects Residential Projects Construction of industrial buildings Construction of buildings for Undertake various challenging and Construction of private residential for pharmaceuticals, Tyre, Dairy, hospitals and healthcare services, prestigious real estate and infrastructure buildings for group housing, Execution of prestigious residential- Engineering companies, etc. educational institutes, malls, projects spearheaded by the townships and independent houses cum-commercial projects, hospitality services and corporate government and PSUs such as CM’s for select private customers spearheaded by the government in offices Office, Riverfront Development project, the affordable housing category Renovation of VidhansabhaBuilding under MukhyaMantriGRUH Yojana 64* 87* 27* 03* 19* * Number of Projects Completed as on 31 December 2022 Oder Book across Private & Public FY20 FY21 FY22 9MFY23 ▪ Outstanding order book as on 31 December 2022: Projects1 (₹ crore) ₹ 5,075 crore 8 7 6 6 0 8 9 ,1 4 0 8 ,1 7 ▪ Government projects comprised 52% of the order 5 ,1 9 ,1 9 book as on 9MFY23 vs 68% in FY22. 2 3 ,1 7 2 7 9 2 3 0 4 4 7 0 3 7 6 9 6 3 9 2 7 6 3 ▪ By diversifying skill sets and order book across 0 0 0 7 5 6 9 4 5 5 4 6 5 different projects, PSP Projects can pursue a 7 1 8 3 3 broader range of project tenders and consequently, 3 8 optimize business volume and profit margins Industrial Institutional Government Govt. Resi. Residential ©2021 –PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 15 Robust Order Book and Growing Pre-Qualification Credentials Growing Order Book1 (₹ crore) Work on hand across Private and Public Projects As on 9MFY23 11% 5,075 4,324 34% 4,121 3,074 2,978 26% 2,559 11% 18% FY18 FY19 FY20 FY21 FY22 9MFY23 Government Govt Residential Industrial Institutional Residential ©2021 –PSP Project Ltd., All Rights Reserved. Notes: (1) Numbers have been rounded off 16 Confidence to replicate the Success Story outside Home State ▪ Being headquartered in Ahmedabad, not only is the company strategically located in the core market of Gujarat but have Growing Geographical Footprint gradually expanded its presence to six different states of India, establishing a pan-India presence. As on 9MFY23 ▪ 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 0.5% years of operations only in 2016 did PPL hatch out of Gujarat. 32% 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 53% Colleges and Hospitals at 7 locations in Uttar Pradesh Bhiwandi Pandharpur MAHARASHTRA: EWS Housing Projects in 2 759 Bhiwandi and Pandharpur Gujarat Rajasthan Kanakpura 3 UTTAR PRADESH: Affordable Housing project 238 Mandya Maharashtra UP RAJASTHAN: Medical Colleges and Hospitals in 4 27 Rajasthan Giving momentum to the strategy of geographical diversification, 47% of order book are from markets other than Gujarat as on 31 December 2022 ©2021 –PSP Project Ltd., All Rights Reserved. 17 Belief, Trust and Support of 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 CadilaGroup 29 Torrent Group 15 UP –Public Works Department 8 Sabarmati Riverfront 8 SDB is the world’s largest office building on Adani Group 7 a single basement. Claris Group 6 It’s a ₹1,850 crore project, 66 lakh sq. ft. Road & Building, Gujarat 4 With completion of this project, the company Reliance 2 has entered the league of handling prestigious IntasGroup 2 projects up to ₹2,500* crore. As on FY22 ©2021 –PSP Project Ltd., All Rights Reserved. 18 Clientele with High Quality Business Work on Hand as on 31 December 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 1,074 EWS Housing Project Maharashtra Municipal Corporation 601 601 Sports Complex Gujarat Municipal Corporation 504 464 Noodle Factory Phase II & III Gujarat Industrial 315 301 Corporate Office Building Gujarat Institutional 290 260 Residential Project Gujarat Private Company 252 222 Residential Buildings of PAC Mahila Battalion Uttar Pradesh Public Works Department 239 208 at Badaun, UP Fore Court Development at Ahmedabad Gujarat Private Company 204 197 Airport Residential Project Gujarat Adani Estate Management Pvt. Ltd. 349 183 National High Speed Project (Precast) Gujarat L&T 195 195 Tallest Residential in GIFT City Gujarat Nila Infra 122 122 Construction Of Steel Plant Gujarat Private Company 257 109 Total 4,818 3,936 ©2021 –PSP Project Ltd., All Rights Reserved. 19 The Team that made PPL fulfil its ambitions Ably Supported by Experienced Professionals Mahesh Patel Maulik Patel Hetal Patel Viplav Shah Pratik Thakkar Senior Vice President - Operations Vice President -Procurement Chief Financial Officer Vice President -Planning General Manager -BD ▪ Holds a diploma in civil ▪ Attended the course for ▪ Member of the Institute of ▪ Diploma in Construction ▪ Pratik Thakkar is General engineering bachelor’s degree in commerce Chartered Accountants of India Technology from School of Manager - Business and holds a masters degree in Building Science & Technology Development of the company ▪ Heads the project operations ▪ Heads the procurement, commerce from Gujarat (Currently CEPT University) and management of plants and ▪ Bachelor’s degree in commerce ▪ He has been an instrumental University Management Education machineries and form works. and diploma in marketing part of all the projects Program from IIM Ahmedabad. ▪ Also a certified internal auditor management completed by PSP Projects till ▪ He has been associated with from the Institute of Internal ▪ He brings 25 years of date. the company since inception ▪ Experience in Business Auditors (USA) experience in the construction and played a pivotal role in Development ▪ He has been with the company field. PPL’s growth. ▪ With the company since the since inception ▪ Associated with the company past 8 years for the past 7 years ©2021 –PSP Project Ltd., All Rights Reserved. 20 Leadership and Management Prahaladbhai Patel Pooja Patel SagarPatel Sandeep Shah VasishthaPatel AchalaPatel Chairman, MD and CEO Whole Time Director Executive Director Independent Director Independent Director Independent Director ▪ Bachelor’s degree in civil ▪ Bachelor’s degree in civil ▪ Bachelor’s degree in civil ▪ Double bachelor’s degree in ▪ Bachelor’s degree in ▪ Post Graduate and engineering from Saurashtra engineering from Gujarat engineering from commerce and law from business administration M.Philfrom school of University, and has been Technological University and Gujarat Technological Gujarat University. from Sardar Patel languages, Gujarat working in the civil a post-graduate diploma in University. ▪ He is currently a director of University and a master’s University. A Gold construction space by way of financial management from ▪ He is actively involved in Creative Infotech Private degree in business Medallist and 1st rank a proprietorship business, Ahmedabad Management project planning, project Limited. administration from holder at University before the incorporation of Association. South Gujarat University. level. tendering, contracts, and ▪ He has many years of PSP Projects Limited. ▪ She has been actively executionofprojects. experience in the business of ▪ 20+ years of experience ▪ Founder and Designated ▪ Experience of 36 years in the involved in planning of information technology in management and Partner of MAP Power construction space, and has projects, procurement of products and services. exports. LLP and Chopper Worx played a significant role in the materials and execution of Construction LLP. ▪ Held managerial growth of PSP Projects since projects for PSP Projects position in international ▪ Actively involved in the its incorporation. Limitedsince2015. division of several business of high voltage ▪ Featured in the book titled ▪ Represented PSP Projects in companies. power transmission ‘Business Game Changers: Indian Concrete Institute representing few ▪ Currently a MD of Shoonyase Shikhar’ authored Chapter-1,Ahmedabad. European companies in MulticoExports Private by Prakash Biyani. India and in few Limited, which is neighbouring countries involved in the export of since more than 16 pharmaceuticals. years. ©2021 –PSP Project Ltd., All Rights Reserved. 21 15 years of journey of Constructing Buildings Started Operations in Uttar Pradesh with a Awarded to construct SAP Implementation marquee projects tallest temple in the "Beautification of Sri world Kashi Vishwanath Awarded to construct Started Operations Dham" tallest residential in Karnataka & Started Turnkey projects in Gujarat Rajasthan Awarded project for Projects Started work for Construction of Entry in Airport Incorporation Beautification of PSP's Precast segment riverfront Manufacturing unit 2008 2009 2010 2011 2014 2015 2016 2017 2020 2021 2022 PSP Projects Acquired Listed on NSE & business of Awarded order to Awarded 7 Medical BSE BPC Projects construct 72-Meter- Started design & College & Hospitals High Hospital, build (EPC) project on EPC Basis in UP Ahmedabad for Affordable Housing in Commissioned Awarded project Ahmedabad the precast to construct factory Medical College Awarded project for & Hospital for Inauguration of Kashi Leading Medical construction of CM’s Awarded Surat 1st Order inside the Vishwanath Dham by Socitey, office Diamond Bourse first Smart City -GIFT Honourable PM Ahmedabad Project City, Later PSP did 6 Narendra Modi ji Projects in GIFT ©2021 –PSP Project Ltd., All Rights Reserved. 22 Precast Facility Enhancing captive 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, ▪ Unlocks the best land potential, Project Cost ₹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. at a nominal capex. ▪ First order received for precast was from L&T as part of National High Speed Rail project. Balance orders are from Residential and Industrial segments as part of our existing orders. 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. 23 Precast Factory ©2021 –PSP Project Ltd., All Rights Reserved. 24 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 as on FY22. 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. 25 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. 26 Landmark Projects – Kashi Vishwanath Dham ©2021 –PSP Project Ltd., All Rights Reserved. 27 Landmark Projects – Surat Diamond Bourse Actual image October.22 ©2021 –PSP Project Ltd., All Rights Reserved. 28 Landmark Projects– Surat Diamond Bourse Actual image October.22 ©2021 –PSP Project Ltd., All Rights Reserved. 29 Prominent Projects – Smart City Prestige Fintech IBIS Hotel by Brigade Tallest Residential in GIFT City World Trade Center BSE Brokers Forum Brigade International Finance Center The Signature by Hiranandani ©2021 –PSP Project Ltd., All Rights Reserved. 30 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. 31 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. 32 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. 33 Key Strategies www.pspprojects.com ©2021 –PSP Project Ltd., All Rights Reserved. 34 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. 35 Awards and Recognition www.pspprojects.com ©2021 –PSP Project Ltd., All Rights Reserved. 36 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. 37 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. 38 Safe Harbor Statement Thisdocumentdoesnotconstituteorformpartof and should notbeconstrued asanofferto sellorissue orthesolicitationof anoffertobuyor acquire securitiesoftheCompanyoranyof its subsidiaries or its joint venturesor affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of thisdocument, nor thefactof itsdistribution, shouldform thebasisof,orbereliedoninconnectionwith,anycontractorcommitmentorinvestmentdecisionwhatsoever. Thisdocumentisnotfinancial,legal,taxorotherproductadvice. 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 informationpurposesonlyanddoesnotconstitute arecommendation regarding any securitiesof theCompanyor anyof itssubsidiariesor itsjoint venturesor 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 hereinand, accordingly,noneoftheCompany, itsadvisorsandrepresentativeand anyof itsortheir affiliates,officers,directors, employeesoragents, and anyone actingonbehalf 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 connectiontherewith. TheCompanymayalter,modifyorotherwisechangeinanymannerthecontentsofthisdocument,withoutobligationtonotifyanypersonsofsuch changeorchanges. 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 alternativetocashflowfromoperationsasameasureofliquidityoftheCompany. The statements contained in this document speak only as at thedate 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 preparingthispresentation, noneoftheCompany, itsmanagement,andtheirrespectiveadvisers undertakesanyobligationtoprovidetherecipient withaccesstoany additional information ortoupdatethispresentationoranyadditionalinformationortocorrectanyinaccuraciesinanysuchinformationwhichmaybecomeapparent. ThispresentationisnotanofferofsecuritiesforsaleintheUnitedStates.SecuritiesmaynotbeofferedorsoldintheUnitedStatesabsentregistrationoranexemptionfromregistration. 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-lookingstatements. Giventheserisks,uncertaintiesandotherfactors,recipientsofthisdocumentarecautionednottoplaceunduerelianceontheseforward-lookingstatements. By accessing this presentation, you accept that this disclaimer and any claimsarising out of the useof the information from thispresentation shallbegoverned by the laws of India and only thecourtsinAhmedabad,Gujarat,Indiaandnoothercourts,shallhavejurisdictionoverthesame. ©2021 –PSP Project Ltd., All Rights Reserved. 39 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 VikramnagarColony, Iscon-AmbliRoad, 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 inwhole 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. 40