PSP Projects reports 67% EBITDA plunge on labor shortage
PSP Projects Limited reported revenue fell 16% to INR513 crores in Q1 FY26 from INR612 crores previously. EBITDA plummeted 67% to INR24 crores, with margins contracting to 4.77% from 12%. Net profit collapsed to just INR13 lacs from INR34 crores.
The company blamed a 37% labor shortfall in April-May 2025, now reduced to 19%. Employee costs rose to 6.8% due to new Adani project hires. Additional expenses included INR4.5 crores for UP projects and INR8.68 crores in provisions.
Outstanding order book stands at INR6,514 crores, with INR7,500-8,000 crores in new Adani orders expected for FY26.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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