Info-tech

Infoparks Kerala retains Crisil A/Stable rating

Our Bureau | | Updated on: Sep 29, 2020

Notwithstanding the work from home (WFH) culture that has set in after the outbreak of Covid-19, Infoparks Kerala has retained its A/Stable ratings from Crisil, as per the latest review.

The rating reflects Infoparks’ strong financial risk profile and healthy liquidity. The comes in the midst of a slump in the State’s real estate sector, more so in the past six months following the spread of the novel coronavirus.

Establishments depend on rating by a credible agency for enhancing their access to funding, widening the range of funding alternatives, and for optimising the cost of funds. Crisil, founded in 1987 as a subsidiary of American financial information company S&P Global, provides ratings and research, besides risk and policy advisory services.

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The latest Crisil rating reflects the financial stability of Infoparks Kerala, according to Sasi PM, Chief Executive Officer of IT Parks Kerala.

Implying that the pandemic could not make a dent in the business prospects, he said, Infoparks continues to get regular enquiries for occupancy. “A few small firms did wind up operations, but that is not necessarily due to Covid-19. This has happened in the past also. What is gratifying is that demand for space has been increasing steadily over the past two months, even more than the space being vacated,” Sasi added.

The Crisil report attributes Infopark’s good performance to the financial support from the Kerala government and guarding the IT establishment against any possible losses. With an impressive low debt level in its capital structure, Infoparks has shown strong financial health.

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Infopark had an annual inflow of ₹50 crore for the year ending March 30, 2020, according to Crisil. Infoparks Kerala claims 80 per cent occupancy in its IT buildings.

Published on September 29, 2020
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