* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuité has downgraded its long-term rating to 'ACUITE C' (read as ACUITE C) from ‘ACUITE B’ (read as ACUITE B) on the Rs.28.00 Cr. bank facilities of GVR Infra Constructions India Private Limited.
Acuité has also reaffirmed its short-term rating of ‘ACUITE A4' (read as ACUITE A four) on Rs.47.00 Cr. bank facilities of GVR Infra Constructions India Private Limited.
The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
Rationale of Rating Downgrade:
The rating downgrade is on account of the entity being classified as a Suit Filed Account as of March 2026.
About the Company
Incorporated in 2014 and based in Warangal (Telangana), GVR Infra Constructions India Private Limited (GVRICIPL) is engaged in the business of civil construction and primarily undertakes irrigation works in the state of Telangana. The closely held entity is promoted by Mr. Gankidi Venkateswar Reddy and is a special class contractor in the region of Telangana. GVRIPL undertakes irrigation projects for ‘The Superintendent Engineer’ in the region, Water Resource Department, and Government of Telangana, KNR Constructions Limited, Larsen & Toubro Limited (L&T) amongst others.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower:
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date.
Acuité believes that information risk is a critical component in such ratings, and non-cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality.
This rating is, therefore, being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
Limitation regarding information availability
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
No information provided by the issuer / available for Acuite to comment upon
Potential triggers (individual or collective) for a downward rating action:
No information provided by the issuer / available for Acuite to comment upon
Liquidity Position
No information provided by the issuer / available for Acuite to comment upon
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
16 Dec 2024
Bank Guarantee (BLR)
Short Term
32.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Bank Guarantee (BLR)
Short Term
15.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
28.00
ACUITE B+
(Downgraded & Issuer not co-operating* from ACUITE BB-)
18 Sep 2023
Bank Guarantee (BLR)
Short Term
32.00
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Bank Guarantee (BLR)
Short Term
15.00
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Cash Credit
Long Term
28.00
ACUITE BB-
(Downgraded & Issuer not co-operating* from ACUITE BB | Stable)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Indian Bank
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
32.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Canara Bank
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
15.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Indian Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
28.00
Simple
ACUITE C | Downgraded | Issuer not co-operating* ( from ACUITE B )
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
