Key Metrics of Nspr Constructions (India) Private Limited
About Nspr Constructions (India) Private Limited
Sectors
Company details
- Registered office
- 1/52, D3-4, Near Sujatha Theatre, Pulivendula, Kadapa, In-ap, 516390
Operational Areas of Nspr Constructions (India) Private Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
Sign in with access to company financials to review vendor evidence.
Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 30 Mar 2026 | ICRA | Reaffirmed | BBB+ | A2 | Stable | ₹280 Cr | View |
| 30 Jun 2020 | CARE | Withdrawn | BBB- | — | Stable | — | View |
| 16 Jun 2020 | CARE | Non-cooperating | BBB- | A3 | Stable | ₹50.0 Cr | View |
| 01 Apr 2019 | CARE | Non-cooperating | BBB | A3+ | Stable | ₹50.0 Cr | View |
| 05 Mar 2018 | CARE | Reaffirmed | BBB | A3+ | Stable | ₹50.0 Cr | View |
| 22 Feb 2017 | CARE | Revised (from BBB-) | BBB | A3+ | Stable | ₹100 Cr | View |
| 13 Nov 2015 | CARE | Reaffirmed | BBB- | A3 | — | ₹50.0 Cr | View |
Credit strengths (ICRA, Mar 2026)
+ Healthy revenue growth over the past two years
NSPR’s scale of operations improved significantly to Rs. 501 crore in FY2025 from Rs. 201 crore in FY2023 and is expected to sustain the increased scale of operations in FY2026 and FY2027, supported by execution of major MoRTH projects in Andhra Pradesh.
+ Comfortable financial risk profile
NSPR’s financial risk profile is characterised by adjusted gearing and leverage (TOL/TNW) (adjusted for interest-free inter corporate deposits (ICDs) of Rs. 94.04 crore from group companies) of 0.40 times and 1.03 times, respectively, as on March 31, 2025, and an interest coverage ratio of 8.18 times in FY2025.
+ Established track record in execution of road projects
The company has more than two decades of experience in executing road projects for reputed clients such as MoRTH, NHAI and Tata Projects Limited, among others, resulting in low counterparty credit risk and a comfortable cash conversion cycle, supporting its liquidity position.
Credit challenges
− Moderate revenue visibility owing to lower order addition in FY2026
The company has an order book position of Rs. 1,143.22 crore as on February 28, 2026, translating to 2.32 times of FY2025 revenues and providing limited revenue visibility.
− High geographical and segmental concentration
The company has high project concentration, with the top five projects accounting for 93% of the total order book as on February 28, 2026.
− Exposed to intense competition which keeps margins under check
The civil construction segment is characterised by intense competition due to the low complexity of work involved, as well as low entry barriers in terms of qualifications required for the tenders floated.
Could lead to an upgrade
ICRA could upgrade the ratings if the company achieves a significant improvement in its scale of operations and profitability margins by demonstrating healthy order addition, along with diversification in the order book profile. Further, improvement in the
Could lead to a downgrade
Pressure on NSPR’s ratings could arise if any slowdown in order execution or decrease in profitability margins results in a material decline in cash flows, or if a stretch in the working capital cycle weakens the
Agency-reported financials (ICRA, 30 Mar 2026)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Operating income | ₹383 Cr | ₹501 Cr |
| PAT | ₹15.20 Cr | ₹17.60 Cr |
| OPBDIT/OI | 10.9% | 10.1% |
| PAT/OI | 4.0% | 3.5% |
| Total outside liabilities/Tangible net worth (times) | 2.10× | 1.60× |
| Total debt/OPBDIT (times) | 3.80× | 2.80× |
| Interest coverage (times) | 6.40× | 8.20× |
| Revenue growth (YoY) | — | 30.8% |
| EBITDA (margin × income) | ₹41.73 Cr | ₹50.58 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹159 Cr | ₹142 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹6.52 Cr | ₹6.17 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term – Fund-based – reaffirmed Cash credit | Working capital & bank lines | ₹23.5 Cr | ₹33.5 Cr | 42.6% | BBB+ (Stable) | Reaffirmed | ICRA |
| fund based – Bank Guarantee | Non-fund based limits | ₹236 Cr | ₹246 Cr | 4.2% | — | Assigned | ICRA |
| Unallocated limits | Other | ₹16.0 L | ₹16.0 L | 0.0% | BBB+ / A2 (Stable) | Reaffirmed | ICRA |
CARE ratings on record (checked 30 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Bank Guarantee | — | Withdrawn |
| Working Capital Limits | — | Withdrawn |
Credit assessment · Construction (EPC contractors)
ICRA Rating Methodology – Construction (Oct 2024) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 59% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 56% chance the next rating action is stable or better
- Current rating BBB+ (investment grade)
- Interest coverage 8.2×
- Working-capital limits 28% utilised on average
- ₹0.16 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Ltd: Ratings reaffirmed; rated amount enhanced Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) Long term – Fund-based – [ICRA]BBB+(Stable); reaffirmed/ assigned 23.50 33.50 Cash credit for enhanced amount Long term / Short term - Non- [ICRA]BBB+(Stable)/ [ICRA]A2; reaffirmed/ 236.34 246.34 fund based – Bank Guarantee assigned for enhanced amount Unallocated limits 0.16 0.16 [ICRA]BBB+(Stable)/ [ICRA]A2; reaffirmed Total 260.00 280.00 *Instrument details are provided in Annexure I Rationale The reaffirmation of the ratings fa
From the report
The ratings also consider its adequate liquidity position with low 1 utilisation of working capital limits and availability of surpluses from its five annuity road projects , which are debt-free.
From the report
It successfully completed five annuity road projects in Andhra Pradesh in the past, which have completed their concession periods and are currently debt-free.
From the report
Liquidity position: Adequate NSPR’s liquidity position is adequate, as reflected by an adequate cushion in working capital limits, with average utilisation remaining moderate at 28% in the past 15 months ending in January 2026.
From the report
Low finance cost incurred by the company on account of timely repayment of loans and minimal working capital utilization has resulted in improved PBILDT interest coverage ratio from 5.15x during FY16 to 7.01x in FY17.
From the report
The average working capital utilization of the company for the 12 months ended January 2018 remained comfortable at 49%.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Nspr Constructions (India) Private Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Reliance Infrastructure Limited |
Real Estate & Infrastructure · Community, personal and Social Services | rinfra.com | 2002 | Mumbai, Maharashtra, India |
 KEC International |
Discovered Companies · Other Industries | kecrpg.com | 1945 | Mumbai, India |
| NCC Limited | Discovered Companies · Other Industries | — | — | Hyderabad, Telangana, India |
| Lodha Developers Limited | · Construction | — | — | Mumbai, Maharashtra, India |
 Ircon International Limited |
Real Estate & Infrastructure · Real Estate & Construction | ircon.org | — | New Delhi, Delhi, India |
| Dilip Buildcon Limited | · Construction | — | — | Bhopal, Madhya Pradesh, India |
| G R Infraprojects Limited | · Construction | — | — | Ahmedabad, Gujarat, India |
 DLF Limited |
Real Estate & Infrastructure · Real Estate & Construction | dlf.in | 1946 | Gurgaon, India |
| Sterling And Wilson Renewable Energy Limited | Renewable Power · Oil, Gas & Energy | — | — | Mumbai, Maharashtra, India |
 GMR Power And Urban Infra Limited |
Part of GMR Group. | gmrpui.com | — | Gurgaon, Haryana, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.