Credit rating agency, CARE has reaffirmed the assigned ‘CARE BB+’ rating to the long-term bank facilities of Nila Infrastructure for Rs 7.50 crore. The agency has also reaffirmed the assigned ‘CARE BB+/PR4+’ rating to the long-term/short-term bank facilities of the company for Rs 2.00 crore.
The rating continues to be constrained by risk associated with large size ongoing as well as proposed real-estate projects being executed by Nila Infrastructure. Increase in scope of existing projects and commencement of new projects in the future over and above what is envisaged presently would also be a key rating sensitivity.
Nila Infrastructure is in business of construction activities. The company is involved in the construction of luxurious bungalows, commercial and residential buildings, infrastructure projects such as industrial estates including roads, plots, sheds, lighting, etc.