Buy PSP Projects: target of Rs 710: ICICI Direct

ICICI Direct is bullish on PSP Projects has recommended buy rating on the stock with a target price of Rs 710 in its research report dated August 11, 2022.

August 12, 2022 / 05:22 PM IST
 
 
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ICICI Direct's research report on PSP Projects


Incorporated in 2008 by Prahladbhai Patel, PSP Projects (PSP) is one of the prominent contractors offering a diversified range of construction and allied services. Its focus remains on industrial, institutional, government, government residential and residential projects. PSP reported 34.3%, 31.2%, 31.3% CAGR in topline, EBITDA, PAT CAGR, respectively, during FY17-22 • Prudent management, net debt free, robust return ratios (RoCE: ~25+%).


Outlook


We maintain our BUY rating on the company. We value PSP at Rs 710/share (14x FY24 P/E).


For all recommendations report, click here


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PSP Projects - 110822 -ic

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first published: Aug 12, 2022 05:22 pm
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