Kochi: Infopark, Kerala’s state-owned IT park, and leading real estate developer Asset Homes have retained top ratings by the Credit Rating Information Services of India Limited (CRISIL), the country’s leading analytics agency.
Asset Homes, a premier real estate developer in Kerala, has retained the CRISIL DA2+ rating for the fourth year in a row while Infopark earned A/Stable ratings, winning the recognition for the second consecutive year.
DA2+ is the highest rating ever awarded to a builder in Kerala by the country’s leading analytics agency. At a recent function held in Kochi, Binaifer Jehani, business head, CRISIL and Abbas Master, associate director, CRISIL, presented Sunil Kumar V, founder & managing director, Asset Homes, with the CRISIL DA2+ certification.
Asset Homes’ CRISIL honours coincided with the company winning four CIDC Vishwakarma Awards 2024, recognising the builder as the Best Professionally Managed Organization.
Healthy liquidity earns Infopark top rating
As CRISIL marks long-term banking facilities as a critical criterion in its ratings, the agency points out “healthy liquidity driven by fund infusion from the Government of Kerala” as a major reason for the state-run Infopark’s latest achievement.
“Infopark has a healthy financial risk profile marked by low gearing and comfortable debt protection metrics,” CRISIL said. “Driven by modest debt in capital structure, gearing has remained less than 0.1 times. Limited debt has also resulted in low financial charges, which has led to a healthy interest coverage ratio. The financial risk profile should continue to be moderate over the medium term.”
Infopark CEO Susanth Kurunthil said the A/Stable rating reveals a consistency in the growth profile of the IT hub which is completing two decades.
The 1987-founded CRISIL, headquartered in Mumbai, serves lenders, investors, issuers, market intermediaries and regulators by covering manufacturing companies, banks, NBFCs, PSUs, financial institutions, states, urban local bodies and mutual funds.