India News | Technopark Gets CRISIL A+/Stable Rating for Fourth Year in Row
Get latest articles and stories on India at LatestLY. 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.
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 responsibility—to 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".
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)