Fitch rates Sharad Constructions

Fitch Ratings said it assigned Sharad Constructions Pvt Ltd. a national long-term rating of BB(ind), along with national ratings to its senior secured and short-term debt of Rs. 680,000 long-term loans at BB(ind), Rs. five million fund-based limits at BB(ind) and Rs. 50 million non fund-based limits at F4(ind).

The ratings reflect the company's long operating history of more than 48 years in executing construction projects, cash flow generation and its comfortable credit metrics, Fitch said.

The ratings are constrained by client concentration risk, limited size of its order book and low margins in relation to its peers, the agency said.

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