PSP Projects is a construction company that takes a building from a blank page to a finished, furnished space - handling design, engineering, procurement, and construction under one roof - so the client deals with a single partner, not a crowd of contractors. Founded in 2008 by a first-generation civil engineer and listed in 2017, the company built its reputation on speed and reliability, most visibly when it delivered the Surat Diamond Bourse, the world’s largest single-basement office building, which unlocked the credentials to bid for ever-larger work. The recurring approach is to internalise every step of the build - from pouring concrete to fitting out interiors - and to invest early in technologies, such as its own precast concrete factory, that let it finish projects faster than industry norms, a discipline that now attracts repeat work from industrial and government clients alike. # Business segments A single integrated EPC engine, strengthened by a captive precast factory that feeds it speed - the company earns its living by delivering entire buildings, not just pieces of them. ## 1. Integrated EPC construction: a one-stop shop for buildings, from foundation to furniture **The company wins by promising - and delivering - a finished building faster than a client could coordinate it themselves, capturing value across the full construction chain from design through handover.** - **Paid as the building rises** - revenue comes from EPC contracts, item-rate contracts, and cost-plus contracts, with milestone-based payments tied to visible construction progress; most private-sector orders carry price-escalation clauses that protect margins when material costs move. - **Five building types, one delivery model** - the company builds industrial plants (for names like Nestlé and MRF), institutional landmarks (hospitals, malls, the Surat Diamond Bourse), government civic projects (the Kashi Vishwanath Corridor), government affordable housing, and private residential towers, all using the same integrated workflow. - **Speed is the moat** - it erected a 22-storey building in 121 days using precast technology and poured a world-record 24,000 cubic metres of raft concrete in 54 continuous hours, a pace that turns into repeat business from clients who value on-time delivery above almost everything else. - **Centralised buying, distributed building** - a central procurement team runs bulk contracts covering 24% of key civil materials, draws on over 1,000 prequalified vendors, and keeps 15-20 days of buffer stock for critical items, so 94 simultaneous project sites get materials without each site having to negotiate its own deals. - **Credentials that raise the ceiling** - the Surat Diamond Bourse project gave the company a pre-qualification to bid for contracts up to ₹2,500 crore on its own, without forming joint ventures, which places it in a small group of contractors that can compete for the largest government and institutional tenders. ## 2. Captive precast factory: the speed engine inside the machine **A dedicated offsite factory manufactures entire building components - beams, columns, walls, staircases - so that onsite construction becomes an assembly job, cutting project timelines and attracting external customers like the bullet-train project.** - **Built, not just bought** - the company invested roughly ₹109-110 crore to commission a precast plant on 60 acres in Gujarat, with a Phase I capacity of 1 million square feet annually and a planned total capacity of 3 million square feet, giving it control over a technology it calls the future of high-speed, high-quality construction. - **Sells to itself and to others** - the factory serves the company’s own EPC projects as captive supply, but also sells precast elements - ducts, noise barriers, viaduct segments - to Larsen & Toubro for the National High Speed Rail corridor, a ₹600-700 crore supply opportunity shared among a handful of players. - **A building in under five months** - “Project Ninety,” a structure with three basements and 18 upper floors, was completed in 148 days using factory-made precast elements, demonstrating the kind of timeline compression that wins commercial and residential clients. - **Micro-managed for margin** - the plant runs on a purpose-built low-code platform called Protrak that tracks every element from casting to installation and digitises quality checklists, while a micro-costing model analyses profitability at a granular level. # Group structure and partners **The company is now jointly controlled by its founder and the Adani Group, a partnership that reshapes its project pipeline while the founder continues to run day-to-day operations.** - **Founder remains at the helm** - Prahaladbhai S. Patel continues as Chairman, MD and CEO, while Adani Infra will have equal representation on the board and joint control. - **Lean subsidiary structure** - the company has a wholly-owned subsidiary that developed the World Trade Centre at GIFT City, a 49% stake in a joint venture, and a Section 8 not-for-profit arm for CSR activities; a former US subsidiary was sold in 2021 and the proceeds redeployed in India.