Technopark Gets A+/Stable Rating for Fourth Year in a Row
By Rediff Money Desk, Thiruvananthapuram Dec 20, 2024 22:47
Technopark, India's first IT Park, secures an A+/Stable rating from CRISIL for the fourth consecutive year, highlighting its strong financial position and sustainable growth.
Thiruvananthapuram, Dec 20 (PTI) In a significant achievement, Technopark has been awarded A+/Stable rating for the fourth consecutive year by the rating agency CRISIL for maintaining a robust as well as proper financial position and progress, the state government said on Friday.
Technopark, which is India's first IT Park located in the Kerala capital, received A+/Stable rating by the Credit Rating Information Service of India Ltd (CRISIL) in 2021, after which it had maintained the same in the last two years as well, a release said.
At present Technopark is home to 490 Information Technology (IT) and Information Technology enabled Services (ITeS) companies with a direct employability of 75,000, it said.
It further said that the high to almost full occupancy in all campuses at Technopark with diversified clientele ensures steady cash flows.
Additionally, the ongoing flagship projects along with the projects in pipeline were the critical parameters evaluated by CRISIL and helped Technopark achieve the A+/Stable rating again in 2024, the release said.
Welcoming the achievement, Col Sanjeev Nair (Retd), CEO, Technopark, is quoted as having said that securing the A+/Stable rating from CRISIL for the fourth consecutive year underscores Technopark's unwavering commitment to financial excellence and sustainable growth.
"This milestone reflects our team's dedication, proactive management practices, and the trust of our IT partners. It fuels us to push boundaries, ensuring a future-ready IT ecosystem that upholds global standards," he said.
"The A+ rating accompanied by a stable outlook, highlights our park's consistent ability to meet its financial obligations while maintaining long-term sustainability. This achievement is a testament to our strong governance, strategic management, and adherence to best practices in the industry," he said.
Jayanthi L, CFO of Technopark, too welcomed the achivement and said, according to the release, that the stable outlook further reinforces its ability to navigate through economic fluctuations with resilience.
"Being at the helm of such a legacy is not just a matter of pride but also a responsibilityto ensure that, through constant financial vigil, the organization reaches new heights," she said.
She further said that by aligning financial and operational goals, Technopark has embraced a fundamental requirement for corporate sustainability and success by "serving as catalysts for operational efficiency".
Technopark, which is India's first IT Park located in the Kerala capital, received A+/Stable rating by the Credit Rating Information Service of India Ltd (CRISIL) in 2021, after which it had maintained the same in the last two years as well, a release said.
At present Technopark is home to 490 Information Technology (IT) and Information Technology enabled Services (ITeS) companies with a direct employability of 75,000, it said.
It further said that the high to almost full occupancy in all campuses at Technopark with diversified clientele ensures steady cash flows.
Additionally, the ongoing flagship projects along with the projects in pipeline were the critical parameters evaluated by CRISIL and helped Technopark achieve the A+/Stable rating again in 2024, the release said.
Welcoming the achievement, Col Sanjeev Nair (Retd), CEO, Technopark, is quoted as having said that securing the A+/Stable rating from CRISIL for the fourth consecutive year underscores Technopark's unwavering commitment to financial excellence and sustainable growth.
"This milestone reflects our team's dedication, proactive management practices, and the trust of our IT partners. It fuels us to push boundaries, ensuring a future-ready IT ecosystem that upholds global standards," he said.
"The A+ rating accompanied by a stable outlook, highlights our park's consistent ability to meet its financial obligations while maintaining long-term sustainability. This achievement is a testament to our strong governance, strategic management, and adherence to best practices in the industry," he said.
Jayanthi L, CFO of Technopark, too welcomed the achivement and said, according to the release, that the stable outlook further reinforces its ability to navigate through economic fluctuations with resilience.
"Being at the helm of such a legacy is not just a matter of pride but also a responsibilityto ensure that, through constant financial vigil, the organization reaches new heights," she said.
She further said that by aligning financial and operational goals, Technopark has embraced a fundamental requirement for corporate sustainability and success by "serving as catalysts for operational efficiency".
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.75 ( -2.27)
- 42067941
- Srestha Finvest
- 0.73 ( -1.35)
- 41047081
- G G Engineering
- 1.36 ( 0.00)
- 21064560
- AvanceTechnologies
- 0.80 ( -2.44)
- 17877416
- Guj. Toolroom Lt
- 14.71 ( -4.97)
- 17467253
MORE NEWS
Indichip Semiconductors to Set Up Rs 14,000 Cr...
Indichip Semiconductors and Yitoa Micro Technology will establish India's first private...
D-Mart Appoints New CEO, Noronha to Step Down...
Avenue Supermarts, owner of D-Mart, has announced Anshul Asawa as CEO Designate,...
D-Mart Q3 Net Profit Rises 4.8% to Rs 723.5 Crore
Avenue Supermarts, owner of D-Mart, reported a 4.8% increase in net profit to Rs 723.54...