Mumbai (Maharashtra) [India], April 3: Assotech, a distinguished player in the real estate sector, has been assigned a Long Term Bank Facilities rating of IVR BBB-/Stable by Infomerics, a renowned credit rating agency. This prestigious rating underscores Assotech’s longstanding commitment to excellence, financial prudence, and unwavering dedication to delivering value to its customers and stakeholders.
The IVR BBB-/Stable rating reflects Assotech’s solid execution track record in the real estate industry, highlighted by the successful completion of numerous residential and commercial projects over the past two decades. With projects spanning across NCR, Bhubaneswar, Raipur, Ranchi, and beyond, Assotech has established itself as a reliable and trusted developer.
Key Factors Contributing to the Rating:
1. Financial Stability: Assotech has maintained a strong financial position, ensuring stability and reliability in its operations.
2. Track Record: With a proven track record of successful project completions, Assotech has earned the trust of its customers and stakeholders.
3. Market Position: Assotech’s strategic market positioning has enabled it to capitalize on opportunities and establish a strong presence in the real estate industry.
4. Quality of Assets: The firm’s commitment to quality is reflected in the superior quality of its assets, ensuring long-term value for customers.
5. Risk Management: Assotech employs robust risk management strategies to mitigate potential risks and safeguard its business interests.
6. Corporate Governance: Assotech upholds the highest standards of corporate governance, ensuring transparency and accountability in its operations.
7. Market Outlook: The firm’s keen understanding of market dynamics enables it to adapt to changing market conditions and seize growth opportunities.
8. Management Team: Assotech is led by a skilled and experienced management team, driving the company towards its strategic objectives.
9. Debt Profile: Assotech maintains a healthy debt profile, balancing leverage with financial stability.
10. Future Prospects: With a strong foundation and promising future prospects, Assotech is poised for continued success and growth in the real estate sector.
11. Satisfactory Execution Track Record: Assotech has completed 8 projects and has 8 more in the pipeline, demonstrating its ability to deliver projects on time and with high-quality standards.
Assotech’s projects are strategically situated in prime locations within Ranchi and Bhubaneswar, offering convenient access to key amenities such as prominent employment centers, bustling markets, efficient railway stations, and well-connected airports. This advantageous positioning enhances the appeal of Assotech’s developments, ensuring accessibility and convenience for residents and stakeholders alike.
Furthermore, Assotech maintains a prudent approach to project cost structures, boasting a moderate cost profile alongside remarkable saleability. With a commendable debt-equity ratio of 0.57x and an impressive 74% of units sold in ongoing projects, Assotech demonstrates fiscal responsibility and market acumen. Additionally, the firm’s meticulous management of escrow accounts, complete with predefined waterfall mechanisms, facilitates seamless cash flow management and prioritization of debt obligations, further solidifying its financial integrity and operational efficiency.
Mr. Sanjeev Srivastva, Chairman & Founder, Assotech Group, said, “We are delighted to receive the IVR BBB-/Stable rating from Infomerics, which serves as a testament to our commitment to excellence and financial prudence. At Assotech, we believe in delivering not just homes, but a promise of quality, reliability, and customer satisfaction. This rating reaffirms our dedication to upholding the highest standards of corporate governance and transparency in all our endeavors.”
As ASSOTECH continues to expand its presence and execute projects in Ranchi, Bhubaneswar, and beyond, the company remains focused on delivering value to its customers and stakeholders while upholding the highest standards of corporate governance.
About Assotech
Established over 38 years ago, Assotech Group has been at the forefront of real estate innovation, pioneering excellence and reshaping the landscape with a rich legacy of achievements. As a distinguished ISO 9001:2008 certified company, Assotech leverages its extensive experience and expertise to position itself as a trailblazer in the industry. Led by visionary Chairman & Founder, Mr. Sanjeev Srivastva, Assotech Group has transitioned from a Construction House to a distinguished Real Estate Developer. Mr. Srivastva’s strategic foresight has played a pivotal role in the company’s evolution, driving its commitment to excellence and innovation.
Guided by Chief Technology Officer, Mr. Arpan Patel, Assotech Group pioneers digital transformation in real estate, integrating emerging technologies to stay at the forefront of industry trends. With a focus on operational excellence, Chief Operating Officer, Mr. Aditya Prakash, spearheads Assotech’s expansion, driving growth and strategic affiliations.
Key highlights of Assotech Group’s real estate triumphs include the remarkable success of Assotech Pride in Odisha, the introduction of cutting-edge construction methods like MIVAN FORMWORK, and the launch of luxury projects such as Assotech Luxury, Kronos, and Atlas. With a diverse portfolio spanning residential, commercial, retail, and hospitality developments, Assotech Group continues to set new benchmarks in vertical growth.
With a strong presence in Odisha and across six states, Assotech Group has delivered over 45 projects, creating homes and happiness for thousands of families. Committed to crafting aspirational infrastructures, the company’s philosophy centers around delighting customers and transforming them into long-term investors.
As Assotech Group shapes the future of real estate, the company remains dedicated to creativity, innovation, and sustainable growth. Media outlets are invited to explore and share the story of Assotech Group, a real estate powerhouse blending tradition with innovation and setting new standards for excellence in the industry. For more information, visit https://www.assotechgroup.com/
About Infomerics:
Infomerics Valuation and Rating Private Ltd (Infomerics) is a leading credit rating agency in India, providing comprehensive credit ratings and research services to corporates and investors. With a team of experienced analysts and a commitment to transparency and integrity, Infomerics helps clients make informed investment decisions. For more information, visit https://www.infomerics.com/.
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