A2Z Infra Engineering Limited — Capital/Financing Update 2025

Mar 21, 2025

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ATUL Digitally signed by ATUL KUMAR KUMAR AGARWAL Date: 2025.03.21 AGARWAL 17:03:47 +05'30'

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No. CARE/NRO/RL/2024-25/3830

Shri Amit Mittal Director A2Z Infra Engineering Limited 58, Sector 44 Road, Sector 44, Gurugram,

Gurugram Haryana 122003

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March 20, 2025

Confidential

Dear Sir,

Credit Rating of Bank Facilities

This is with reference to our rating agreement / your letter of request dated June 25, 2015, wherein you had agreed to pay annual surveillance fee to monitor and conduct the surveillance / review of the rating over the lifetime of rated Bank facilities.

1. In the absence of adequate co-operation from your end despite repeated requests dated January 29, 2025, March 07, 2025, March 11, 2025, and March 17, 2025, CARE Ratings Ltd. has reviewed the rating as follows:

Facilities / Instruments	Facilities / Instruments	Amount (₹ crore)	Rating1	Rating Action	Rating Action
Long Term Bank Facilities		147.80	CARE D; ISSUER NOT COOPERATING*	Rating moved to ISSUER NOT COOPERATING category
Short Term Bank Facilities		337.29	CARE D; ISSUER NOT COOPERATING*	Rating moved to ISSUER NOT COOPERATING category

1. We would be issuing a Press Release shortly to inform the regulators, investors and public at large. A draft of the Press Release is enclosed.

Thanking you,

Yours faithfully,

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1Complete definitions of the ratings assigned are available at www.careedge.in and in other CARE Ratings Ltd.’s publications *Issuer did not cooperate; Based on best available information

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CARE Ratings Limited

Plot no. C-001 A/2 Sector 16B, Berger Tower, Gautam Budh Nagar, Noida, (UP) - 201301 Phone: +91-120-4452000

Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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Kritika Goyal Analyst kritika.goyal@careedge.in

Rajan Sukhija Assistant Director rajan.sukhija@careedge.in

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Encl.: As above

Disclaimer

The ratings issued by CARE Ratings Limited are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. These ratings do not convey suitability or price for the investor. The agency does not constitute an audit on the rated entity. CARE Ratings Limited has based its ratings/outlooks based on information obtained from reliable and credible sources. CARE Ratings Limited does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. Most entities whose bank facilities/instruments are rated by CARE Ratings Limited have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CARE Ratings Limited or its subsidiaries/associates may also be involved with other commercial transactions with the entity. In case of partnership/proprietary concerns, the rating /outlook assigned by CARE Ratings Limited is, inter-alia, based on the capital deployed by the partners/proprietor and the current financial strength of the firm. The rating/outlook may undergo a change in case of withdrawal of capital or the unsecured loans brought in by the partners/proprietor in addition to the financial performance and other relevant factors. CARE Ratings Limited is not responsible for any errors and states that it has no financial liability whatsoever to the users of CARE Ratings Limited’s rating.

Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades.

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CARE Ratings Limited

Plot no. C-001 A/2 Sector 16B, Berger Tower, Gautam Budh Nagar, Noida, (UP) - 201301 Phone: +91-120-4452000

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Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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Annexure 1

Details of Rated Facilities

1. Long Term Facilities

1.A. Term Loans

Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)	Debt Repayment Terms
1.	Axis Bank Ltd.	43.02	BG Invocation and LC Devolvement, Outstanding as on December 31,2023
2.	Kotak Mahindra Bank Ltd.	9.00	OutstandingOTS Amount as on 31st Jan’24
3.	Induslnd Bank Ltd.	8.32	OD/WCDL,outstandingas on December 31,2023
4.	Union Bank of India	5.15	BG Invocation and LC Devolvement, Outstanding as on December 31,2023
5.	Indian Bank	3.54	WCTL,outstandingas on December 31,2023
6.	DBS Bank India Ltd.	3.00	OutstandingOTS amount as on Jan 31,2024
7.	Axis Bank Ltd.	2.39	FITL,outstandingas on December 31,2023
8.	Indian Bank	2.02	FITL,outstandingas on December 31,2023
9.	Indian Bank	1.01	Term Loan,Outstandingas on December 31,2023
10.	Union Bank of India	0.96	FITL,outstandingas on December 31,2023
11.	Union Bank of India	0.68	Term Loan,Outstandingas on December 31,2023
12.	Indian Bank	0.41	Term Loan,Outstandingas on December 31,2023
13.	Union Bank of India	0.31	Term Loan,Outstandingas on December 31,2023
	Total	79.81

1.B. Fund Based Limits

Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)
1.	Axis Bank Ltd.	25.00
2.	Indian Bank	20.15
3.	Union Bank of India	15.09
4.	Induslnd Bank Ltd.	7.75
	Total	67.99

Total Long Term Facilities : Rs.147.80 crore

2. Short Term Facilities

2.A. Non-Fund Based Limits

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CARE Ratings Limited

Plot no. C-001 A/2 Sector 16B, Berger Tower, Gautam Corporate Office :4th Floor, Godrej Coliseum, Budh Nagar, Noida, (UP) - 201301 Somaiya Hospital Road, Off Eastern Express Phone: +91-120-4452000 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)
1.	Axis Bank Ltd.	209.06
2.	Indian Bank	57.90
3.	Union Bank of India	42.00
4.	Induslnd Bank Ltd.	28.33
	Total	337.29

Total Short Term Facilities : Rs.337.29 crore

Total Facilities (1.A+1.B+2.A) : Rs.485.09 crore

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CARE Ratings Limited

Plot no. C-001 A/2 Sector 16B, Berger Tower, Gautam Budh Nagar, Noida, (UP) - 201301 Phone: +91-120-4452000

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Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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