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TPSP LN, Gm“ PSP Projects Ltd TPSP LN, gm“ PSP Projects Ltd. ISO 9001 : 2008, 14001 : 2004 BSOHSAS 18001 : 2007 Certified Company Ref No: PSPPROIECT/SE/ 70/18-19 September 29, 2018 Corporate Relations Department Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, PJ. 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: SubmissionofAnnual Report 2017-18 Pursuant to Regulation 34 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith the Annual Report for the Financial Year 2017-18 duly approved and adopted by the members at the 10th Annual General Meeting ofthe Company held on Thursday, September 27, 2018 Further, we wish to bring to your notice that there was an inadvertent error in the information provided in the Non Statutory Section ofthe Annual Report. Page no. 15 of the non-statutory section of the Annual Report, reads as: ”The non-Surat Diamond Bourse componentofour revenue should be around i 1000 Cr during the current financialyear based on our existing order book and ongoing construction schedule”. We hereby submit that the figure of Rs. 1000 cr mentioned in the said para is an inadvertent error and it should be Rs. 550 or instead of Rs. 1000 cr., which has been duly corrected in the enclosed file. Further, please note that the aforesaid error forms part of the Non-Statutorysection of the Annual Report and there is no change in the statutory reports forming part of the Anngal Report and as adopted by the members at the Annual General meeting. We sincerely regret for inconvenience,ifany caused in this regard. Kindly take the same on your record. ThankingYou. For PSP-PgojectsLimited Mittali Christachary6” Company Secretary Encl: As above ‘PSP House', Opp. Celesta Courtyard, Opp. Lane of VikramnagarColony, lSKCON - Ambali Road,Ahmedabad-38O 058. Phone : 079 - 2693 6200, 2693 6300, 2693 6400 | Fax No. : 079 - 2693 6500 | Email : [email protected] | URL : www.pspprojects.com CIN : L45201GJ2008PL0054868 ANNUAL 20 REPORT 17/18 Passion makes the difference Forward-looking statement In this Annual Report, we have disclosed forward- looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make, contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in our assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Contents 12 things you need to know about PSP Projects Limited. 02 How PSP Projects enhanced value across 2017-18 06 The PSP Personality 08 Transformation in the last five years 10 Chairman’s overview 12 Operational review by the management 14 Passion at PSP Projects 16 Our iconic projects 19 How we have selected to do business 25 Board of Directors 32 Key Management Team 34 Corporate Information 35 Management Discussion and Analysis 36 Board’s Report 44 Corporate Governance Report 69 Standalone Financial Statements 84 Consolidated Financial Statements 135 Notice of the 10th Annual General Meeting 187 This is the first annual report of PSP Projects Limited as a listed public company. We would like to dedicate this annual report to that PSP stakeholder who has played the biggest role in our success. Our construction site worker. 12 things you need to know about PSP Projects Limited. One of the fastest growing building construction companies in India. 01 Promoters and management PSP Projects came into existence in 2008. The company is being led by Mr. Prahaladbhai Shivrambhai Patel (Chairman, Managing Director and CEO), engaged in the construction business for more than 30 years. Earlier, Mr. Patel had been engaged in the business of civil construction through a proprietorship firm whose business was taken over by PSP Projects in 2009. Mr. Patel is responsible for vision, business development, technical expertise, industry knowledge and customer relationships. He is assisted by a senior management team comprising qualified, experienced and skilled professionals with years of experience across sectors. Along with Mr. Prahaladbhai Shivrambhai Patel, Mrs. Shilpaben P. Patel is also a promoter of the company. 02 Experience Over the years, PSP Projects developed capabilities across various project stages - business development, tendering, engineering and design, procurement and construction, project management & planning, project execution, operations and maintenance. This has helped to build expertise in executing projects across a segments: industrial projects, hospital projects, hotel & hospitality projects, residential & commercial projects and government projects, helping diversify the order book. 03 Mission 2 l PSP PROJECTS LIMITED 04 Vision • To be recognised as the leading construction company in the areas we operate, through our performance, our people & commitment to our core values. • To become the preferred construction company in the infrastructure industry. 05 PSP Projects’ order book as on March 31, 2018 Consolidated Standalone Standalone order book order book order book (ex-Surat H2644 cr H2559 cr Diamond Bourse) H1043 cr 06 Projects classification The company undertakes construction projects across the following areas: Industrial projects: These projects Government residential projects: comprise the construction of industrial The company addresses opportunities buildings for pharmaceutical plants, arising from prestigious government food processing units, engineering residential projects including the units and manufacturing and design-build of affordable high-rise processing facilities. residential buildings cum commercial units across country. Institutional projects: The institutional projects addressed by the company Residential Projects: The company comprise the construction of buildings addresses residential projects for hospitals and healthcare services, comprising the construction of educational institutes, malls, hospitality buildings for group housing and services and corporate offices. townships, as well as independent residences for select private Government projects: The company customers. focuses on select, challenging and prestigious government projects. ANNUAL REPORT 2017-18 l 3 07 Prominent projects The prominent projects delivered successfully by the company over the last decade have comprised the following: Industrial projects Deendayal Petroleum University, • Pharmaceutical plants for Torrent Gandhinagar Pharmaceuticals Ltd. • Temporary Professional • Pharmaceutical plants for Cadila Development Centre for Aga Khan Healthcare Ltd. Education Service, Hyderabad • Pharmaceutical plants for Nirlife • Nirma Vidhya Vihar, Ahmedabad Healthcare Hotel & hospitality projects • Pharmaceutical plants for Intas • St Laura Hotel Pharmaceuticals Ltd. • YMCA Club • Inductotherm (India) Pvt. Ltd. factory • Kensville Golf Club project at Sanand, Ahmedabad • Dairy plant for Amul Dairy at Khatraj Residential & commercial projects • Factory building for KHS Machinery • The Signature by Hiranandani Private Limited • Venus Parkland • Manufacturing unit for JBM Auto Ltd • Dharnidhar Pride • Factory building for Galco Industrial • Irish Exotica • Gulmohar Mall Hospital projects • Green Blossom • Zydus Hospital, Ahmedabad • Godrej Garden City • Gujarat Cancer Society, Ahmedabad • CIMS Hospital (Phase - I & II), Government projects Ahmedabad • Sabarmati River front, Ahmedabad • U. N. Mehta Institute of Cardiology & • Swarnim Sankul I & II (CM Office), Research Centre, Ahmedabad Gujarat • Affordable Housing Project for Institutional projects Gujarat Housing Board • CEPT University Library Building, (Naranpura and Hathijan) – design Ahmedabad and build • Hostel buildings for Pandit 08 Projects in progress The company was engaged in 36 projects, which included 34 on a standalone basis and two in Joint Ventures, aggregating H2644 cr as on March 31, 2018, of which standalone projects were valued at H2,559 cr. • Surat Diamond Bourse at Khajod, Surat Karnataka • Medical College and Hospital at Dahod • Corporate building for Zydus Cadila for Ramanbhai Foundation (Cadila Group Healthcare Group) • Residential project ‘Seventy’ at • Commercial buildings for Brigade & Ahmedabad for Bsafal Group Prestige Group, Gift City, Gandhinagar • Residential project ‘Anutham’ at • SRFDCL House, Riverfront, Ahmedabad for Luxorian Lavish Ahmedabad Construction LLP (B. Desai Group) • Renovation of Vidhan Sabha Building • Commercial building ‘ONE42’ for at Sachivalaya, Gandhinagar Farpoint Properties LLP (Amaya • Design and build project for Dalal Properties Group) Street Commercial Cooperative •
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