Crisil Ratings Ltd has assigned ratings to the bank facilities of Hazoor Multi Projects’ material subsidiary!

CRISIL Ratings Limited has assigned ratings to the Bank facilities of Hazoor Infra Projects Limited (HIPPL), a material subsidiary of the Company. The ratings assigned are 'CRISIL BBB+/Stable' for long-term facilities and 'CRISIL A2' for short-term facilities, covering total bank loan facilities of Rs. 476 Crore. These ratings pertain to the subsidiary’s Hybrid Annuity Model (HAM) project involving the rehabilitation and upgradation of NH-66 (Arawali to Kante section) in Maharashtra.

The assigned ratings reflect the project's healthy debt protection metrics, with an expected average Debt Service Coverage Ratio (DSCR) of 1.10-1.20 times, and the inherent benefits of the HAM structure, such as inflation indexation and interest payments on annuities. CRISIL noted that the project achieved a Provisional Commercial Operation Date (PCOD) on March 30, 2025, for 77% of the total length, with the first proportionate annuity received in October 2025. While the project faces moderate implementation risks for the remaining stretch, it is well-positioned to achieve final COD by March 31, 2026, supported by adequate liquidity and a maintained Debt Service Reserve Account (DSRA) of Rs 24 Crore.

Recently, the company has secured a domestic work order from Tata Steel Limited valued at approximately Rs 182.95 crore for the turnkey development of residential colonies at TSSIJ, Bileipada, Joda. The project involves the design, engineering, and Construction of G+9 apartment structures featuring 288 Non-Operational and 72 Operational Staff units. Over a 24-month execution period, the company will oversee all civil, electrical, and fire-fighting works, ensuring the high-rise blocks are fully equipped with automated lifts and essential utilities in alignment with Tata Steel’s approved architectural standards.

About the Company

Hazoor Multi Projects Ltd. (HMPL) is a BSE-listed, diversified infrastructure and engineering company based in Mumbai, with core operations spanning highways, civil EPC works, and shipyard services. It is now in the Oil and Gas Sector. Known for execution excellence and strategic clarity, HMPL has built a solid track record across capital-intensive, nationally significant projects. With a focus on scalable growth, recurring revenues and multi-vertical integration, HMPL is building a future-ready platform at the intersection of infrastructure, energy and industrial technology.

According to the Quarterly Results (Q3FY26), the company reported net sales of Rs 75.97 crore and a net profit of Rs 2.72 crore. In its nine-month results (9MFY26), the company reported net sales of Rs 259.20 crore (an increase of 55 per cent YoY) and a net profit of Rs 12.43 crore (an increase of 57 per cent YoY). Looking at its annual results (FY25), the company reported net sales of Rs 638 crore and a net profit of Rs 40 crore. The company has a market cap of over Rs 760 crore. From Rs 0.34 per share to Rs 33.50 per share, the stock rocketed over 9,750 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.