Key Metrics of Skyline Foundations And Structures Private Limited
About Skyline Foundations And Structures Private Limited
Company details
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
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 20 Jul 2026 | ICRA | Reaffirmed | BBB+ | — | Stable | ₹15.0 Cr | View |
Credit strengths (ICRA, Jul 2026)
+ Established presence in residential real estate market with demonstrated track record
The company has a demonstrated track record of over three decades in residential real estate development.
+ Strong leverage and coverage metrics due to low debt levels
SFSPL’s total debt remains low at Rs. 1.1 crore as on March 31, 2026, as the project construction costs are largely supported through customer advances and available free cash and liquid 1 Adequacy of committed cash flows = (Receivables from sold area) / (Pending cost + Debt outstanding) www.icra.in Sensitivity Label : Public Page |1 investments.
+ Healthy sales performance in ongoing projects supporting cash flow adequacy
The company has sold 81.6% of the total saleable area in its ongoing projects as of March 2026 (63% as of December 2024).
Credit challenges
− Moderate scale of operations
The company’s scale of operations remains moderate with the ongoing residential portfolio comprising 0.97 msf of saleable area as of March 2026 and expected collections of Rs. 210-220 crore in FY2027.
− Moderate execution risk associated with ongoing project portfolio
SFSPL remains exposed to moderate execution risk associated with its ongoing projects, with around 57% of the aggregate construction cost yet to be incurred on all the ongoing projects as on March 31, 2026.
− Exposure to geographical concentration risks and cyclicality inherent in real estate sector
SFSPL is vulnerable to geographical concentration risk as the ongoing projects and land bank for future development potential are located in Kerala (Trivandrum and Cochin).
Could lead to an upgrade
The rating may be upgraded if there is significant increase in sales and collections resulting in healthy cash flow from operations while maintaining strong
Could lead to a downgrade
Downward pressure on the rating could emerge in case of subdued sales and/or collections, or if any significant delay in completion of the ongoing projects resulting in weakening of the company’s
Agency-reported financials (ICRA, 20 Jul 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income | ₹240 Cr | ₹120 Cr | ₹110 Cr |
| PAT | ₹47.40 Cr | ₹43.40 Cr | ₹35.80 Cr |
| OPBDIT/OI | 23.0% | 19.9% | 31.9% |
| PAT/OI | 19.7% | 36.2% | 32.7% |
| Total outside liabilities/Tangible net worth (times) | 0.50× | 0.80× | 1.10× |
| Total debt/OPBDIT (times) | 0.01× | 0.20× | 0.00× |
| Interest coverage (times) | 47.80× | 32.80× | 34.90× |
| Revenue growth (YoY) | — | −50.1% | −8.7% |
| EBITDA (margin × income) | ₹55.25 Cr | ₹23.86 Cr | ₹34.93 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹0.55 Cr | ₹4.77 Cr | ₹0.00 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1.16 Cr | ₹0.73 Cr | ₹1.00 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based – Overdraft | Working capital & bank lines | ₹15.0 Cr | ₹15.0 Cr | 0.0% | BBB+ (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
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) | 80% |
| Information on file | 56% · missing: 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: 74% chance the next rating action is stable or better
- Current rating BBB+ (investment grade)
- Interest coverage 34.9×
Rated limits by facility
Timeline
From the report
Further, comfort is derived from SFSPL’s strong liquidity, on a sustained basis, with customer advances adequately meeting the construction spend, along with available free cash and liquid balances of Rs. 173.6 crore as on March 31, 2026.
From the report
In FY2025, SFS acquired a 99.9% equity stake in Bluefords Private Limited (BPL) and infused Rs. 4.5 crore in FY2026 towards land acquisition, with BPL continuing as the land-owning entity for the proposed development.
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.
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.