Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to GPT Infraprojects’ long-term bank facilities worth Rs 422.5 crore. The rating assigned to the bank facilities of GPT Infraprojects continues to derive comfort from the long experience of promoters, satisfactory project execution capability, reputed client portfolio, moderate financial performance in FY15 with slight improvement in H1FY16 and significant increase in order book position. The rating, however, continues to be constrained by working capital intensive nature of the business, profitability susceptible to volatility in input prices, moderate financial risk profile and high exposure to group companies.
GPT Infraprojects, the flagship company of the GPT Group was renamed to reflect the core areas of operation of the Company in the execution of civil and infrastructure projects, after the merger of Tantia Concrete Products and GPT Infrastructures. GPT Infraprojects operates primarily from two divisions - the Sleeper Division and the Infrastructure Division.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4094.95 |
| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
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