Technopark Gets CRISIL A+/Stable Rating for Fifth Time

THIRUVANANTHAPURAM:
In a significant achievement, Technopark has been awarded ‘Crisil A+/Stable (Reaffirmed)’ rating for the fifth year by the Credit Rating Information Service of India Limited (CRISIL) for maintaining a robust as well as proper financial position and progress.

Located in the capital city, Technopark, India’s first IT Park, first achieved A+/Stable rating in 2021, after maintaining CRISIL A/Stable for two consecutive years. In 2024, Technopark had got ‘Crisil A+/Stable’ rating for the fourth year on the trot.

The rating agency noted that the standalone business and financial risk profiles of Technopark has no fungible cash flow with any other entity. The steady cash flow, supported by healthy occupancy, diversified clientele, and strong debt protection metrics backed by low debt and comfortable liquidity were the parameters that made Technopark stand out.

Technopark’s operating performance remained healthy with income expected to increase over the medium term (20 percent in fiscal 2026) driven by long-term agreements of 3-5 years for majority of tenants, with built-in rental escalations of 5-15 percent every 1-3 years and higher rentals for newer tenants.

Occupancy levels for Technopark Phases I and III was high at 97 percent and 100 percent as on December 31, 2025, while the occupancy in Phases IV and V (Kollam) has improved to 90 percent (up from 81 percent as on March 31, 2024) and 62 percent (55 percent as on March 31, 2024), supporting revenue visibility.

Technopark has a diversified client profile with more than 500 tenants, with the top 10 tenants contributing 32 percent of rental revenue in fiscal 2025. The firm has a track record of over 35 years in lease rental collection and longstanding relationships with existing tenants, says the report by the rating agency.

The management’s proactive approach towards property maintenance helps maintain tenant stickiness and asset quality, it adds.

Vipin Kumar, CFO of Technopark, said “The CRISIL A+/Stable reaffirmation underscores the strength and scalability of Technopark’s financial model. With strong cash flow visibility and disciplined capital management, we are now focused on accelerating growth through capacity expansion, unlocking higher asset value, and enabling large-scale developments like Technocity, positioning Technopark as a future-ready, high-growth ecosystem.”

Sandip Kumar, CEO of Technopark, said the inspiring achievement is a testimony to Technopark’s legacy and its strive for offering a sustainable and robust IT ecosystem, besides maintaining a strong financial status in future.

Technopark is also the first technology park and awarded International Standards Organisation 9001:2015, ISO14001:2015, and ISO 45001:2018 certifications for its quality management. Technopark houses over 500 companies in the IT and ITeS sectors, with a total of 80,000 employees.

CRISIL Ratings Limited is registered in India as a credit rating agency with the Securities and Exchange Board of India (“SEBI”).