Ind-Ra upgrades Capacit'e Infraprojects ratings with stable outlook
India Ratings Ind-Ra has upgraded its ratings on Capacite Infraprojects with a stable outlook, the infrastructure company said on Thursday.Capacite Infraprojects in a statement said, Ind-Ra has upgraded long-term issuer rating to IND BBB from IND BBB with stable outlook.The upgrade reflects the companys improved operational performance strong revenue visibility, highly concentrated order book, and strong execution capabilities, it added.The upgrade also took into consideration the conversion of promoters loans to equity.
The upgrade reflects the company's ''improved operational performance strong revenue visibility, highly concentrated order book, (and) strong execution capabilities,'' it added.
The upgrade also took into consideration the conversion of promoters' loans to equity. The promoters had infused over Rs 50 crore into the company in the form of unsecured loans. Rohit Katyal, Executive Director and CFO, Capacit'e Infraprojects, said, ''We are pleased with another rating growth in a short span of time. The rating upgrade reaffirms our financial positioning and emphasis on balance-sheet growth''.
According to the CFO, the company's current order book stands at Rs 9,000 crore.
Mumbai-based Capacit'e Infraprojects provides end-to-end construction services for housing, commercial hospitals, hotels and industrial projects.
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