Case Studies

Case Study: Capital Optimization For Multi-Project Expansion

Client Overview

A leader in water and sewage infrastructure with over 50 years of experience.

Challenge

• The group faced limited liquidity while managing:
  • An operational HAM project with regular annuity inflows.
  • Equity requirements for a second HAM project under execution and a third where they were L1.
  • Growing working capital needs of their expanding EPC business.

Solution By Shah & Kirtane

• Securitization of receivables: Monetized annuity inflows from the operational HAM project, unlocking equity tied in the SPV.
• Strategic fund allocation: Deployed unlocked funds to:
  • Fund equity for ongoing and upcoming HAM projects.
  • Support EPC business expansion and execution of its growing order book.

Outcome

• Seamless funding for multi-project expansion.
• Enhanced ROCE through efficient capital utilization.
• Balanced growth in HAM and EPC verticals without additional leverage.