Capacit’e Infraprojects Secures Rs.150 Crores Non-Fund Based Limits from State Bank of India
Capacit’e Infraprojects, a leading construction company, has recently announced that it has received sanction for Non-Fund based limits amounting to Rs. 150 Crores from State Bank of India, the consortium leader. The newly sanctioned limits will enable Capacit’e Infraprojects to recover its pending receivables in the form of retention monies and mobilisation advance from its ongoing projects.
The company expressed its appreciation to State Bank of India for their unwavering support and commitment to the company. Capacit’e Infraprojects is currently in talks with other consortium members for the sanction of the remaining assessed limits, and it anticipates that other consortium members will approve their part of the assessed limits in the near future.
With the enhanced working capital limits, Capacit’e Infraprojects’ liquidity position is expected to improve significantly in the short to medium term. The company plans to approach the Rating Agency to reconsider their rating, which was previously downgraded due to the company’s inability to tie up enhanced working capital limits and recover its pending receivables, resulting in a further stretch in its working capital.
This latest development is a positive step towards Capacit’e Infraprojects’ growth and success, and it highlights the company’s resilience and determination to overcome challenges and achieve its objectives.
About Capacite Infraprojects:
Capacit’e Infraprojects main focus is on the EPC industry, providing complete solutions for various types of construction projects such as housing, high rises, super high rises, specialty buildings, and urban infrastructure. The company caters to major real estate and government entities in India, offering them top-notch services.
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