Construction Infrastructure
Toll collections to grow 10-11% in FY22 despite Covid: Care Ratings
CARE Ratings expects a total increase of about 10–11% in toll collection in FY 2012 based on the low base of factoring in the current position of Covid in FY 2012. This is despite the expectation of a 20% drop in toll collection in the first two. Months of fiscal year 22 as compared to the previous year.
A recent study by CARE Ratings reported that CARE Ratings’ investment-grade toll road portfolio is likely to provide stable credit performance despite Covid. Despite potential failures from traffic disruption, 4 of the 58 investment grade operational projects evaluated by CARE are likely to be credit-stable. This is due to the presence of a flexible toll collection, adequate debt coverage indicators, and liquidity buffers.
For these projects, CARE’s rating is expected to have a debt service coverage ratio (DSCR) of at least 1.10 times for the fiscal year 2012, a liquidity reserve equal to one-quarter of the amount. debt service. The remaining nine projects are likely to be supported with liquidity assistance from sponsors as needed.
News Source: ConstructionWorld
Construction Infrastructure
The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.
With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.
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