Client Overview

The client is a leading water and sewage infrastructure group with over 50 years of operating experience, actively engaged in HAM based projects and EPC execution across multiple locations.

Challenges

The group faced liquidity constraints while simultaneously managing annuity backed cash flows from an operational HAM project, equity commitments for a second HAM project under execution and a third project where it was L1, along with increasing working capital requirements driven by the expansion of its EPC business.

Shah & Kirtane’s Approach

Shah & Kirtane structured securitization of future annuity receivables from the operational HAM project, monetizing predictable cash flows and releasing equity locked within the SPV. The unlocked capital was strategically redeployed to fund equity for ongoing and upcoming HAM projects and to support working capital needs of the EPC vertical.

Outcome

The solution enabled seamless funding across multiple projects, improved return on capital employed through efficient capital utilization, and supported balanced growth across HAM and EPC businesses without incremental leverage.