Assotech Gets Infomerics’ IVR BBB-/Stable Rating, Demonstrating Excellence in Real Estate Development

Attention India
5 Min Read

Infomerics, a reputable credit rating agency, has assigned Assotech, a notable player in the real estate industry, a Long Term Bank Facilities rating of IVR BBB-/Stable. Assotech’s longstanding focus to financial prudence, excellence, and providing value to its clients and stakeholders is highlighted by this esteemed rating.

Assotech has a strong track record of real estate execution, as seen by the successful completion of multiple residential and commercial projects over the previous 20 years, which is reflected in the IVR BBB-/Stable rating. Assotech has made a name for itself as a reputable developer by working on projects in the NCR, Bhubaneswar, Raipur, Ranchi, and other areas.

Important Elements Affecting the Rating:

1. Stability and dependability in operations: Assotech has consistently maintained a solid financial position.

2. Track Record: Assotech has gained the confidence of its stakeholders and clients thanks to its demonstrated track record of successfully completing projects.

3. Market Position: Assotech has been able to take advantage of possibilities and forge a strong presence in the real estate sector thanks to its strategic market positioning.

4. Asset Quality: The company’s outstanding asset quality guarantees long-term value for clients and demonstrates its dedication to excellence.

5. Risk Management: To reduce any risks and protect its commercial interests, Assotech uses strong risk management techniques.

6. Corporate Governance: Assotech maintains the strictest guidelines for corporate governance, guaranteeing accountability and openness in its business dealings.

7. Market Outlook: The company’s deep comprehension of market dynamics allows it to take advantage of expansion possibilities and adjust to shifting market conditions.

8. Management Team: Assotech is guided toward achieving its strategic goals by a knowledgeable and adept management team.

9. Debt Profile: By striking a balance between financial stability and leverage, Assotech keeps a sound debt profile.

10. Future Prospects: Assotech is well-positioned for sustained success and expansion in the real estate industry thanks to a solid foundation and bright future prospects.

11. Satisfactory Execution Track Record: Assotech has eight completed projects under its belt and eight more in the works, proving that it can produce high-quality work on schedule.

Assotech’s projects are ideally located in Ranchi and Bhubaneswar, providing easy access to important facilities like well-known job hubs, busy marketplaces, effective train stations, and connected airports. Assotech’s developments are more appealing due to their favorable siting, which also guarantees accessibility and ease for stakeholders and residents alike.

Assotech also maintains a conservative approach to project cost structures, combining exceptional saleability with a low cost profile. Assotech exhibits economic responsibility and market knowledge with a remarkable 74% of units sold in active projects and a good debt-to-equity ratio of 0.57x. The company’s careful escrow account administration, which includes pre-established waterfall processes, also makes it easier to prioritize debt obligations and manage cash flow, which strengthens its operational efficiency and financial integrity.

The chairman and founder of Assotech Group, Mr. Sanjeev Srivastva, stated: “We are thrilled to have received the IVR BBB-/Stable rating from Infomerics, which demonstrates our dedication to quality and sound financial management. At Assotech, we take pride in providing not just houses but also a guarantee of excellence, dependability, and client happiness. Our commitment to maintaining the highest standards of corporate governance and openness in all of our operations is reaffirmed by this rating.

In addition to carrying out projects in Ranchi, Bhubaneswar, and other locations, ASSOTECH is committed to providing value to its stakeholders and customers while maintaining the best standards of corporate governance.

Share This Article
Leave a comment

Leave a Reply