Credit rating agency, CARE has assigned ‘BB+’ rating to AGI Infra’s long-term bank facilities worth Rs 41 crore. The rating assigned to the bank facilities of AGI Infra (AGI) is primarily constrained by the company’s small scale of operations, geographical concentration risk, residual project execution risk and inherent cyclical nature of the industry. The rating, however, derives strength from the experienced management, moderate financial risk profile and moderate project preparedness level with high booking status.
AGI Infra is currently developing a group housing project ‘Jalandhar Heights’ at Village Pholriwal, Jalandhar, Punjab, on a total land area of 24.5 acres. The company has already executed and completely delivered Phase I and Phase II and is currently developing Phase III, Phase IV and Phase V of the project. AGI is also developing a shopping-cumcommercial complex named ‘AGI Business Centre’ at Garha Road, Jallandhar on a 0.39 acres of land.
