V.L.Infraprojects Ltd IPO

Experienced Promoters and Management Team.

Focused player in Water Supply Projects (WSPs).

End-to-end execution capabilities.

Optimal Utilization of Resources.

Long-standing relationships with its customers.

Majority of its revenues are generated from state of Gujarat. Any adverse development affecting its operations in this region could have an adverse impact on its business, financial condition and results of operations.

Significant portion of its revenues is concentrated from a limited number of clients. The loss of any of its significant clients may have an adverse effect on the companys business, financial condition, results of operations, and prospect.

Its business is working capital intensive involving relatively long implementation periods. The company requires substantial financing for its business operations. Its indebtedness and the conditions and restrictions imposed on by its financing arrangements could adversely affect the companys ability to conduct its business.

Its failures to perform in accordance with the standards prescribed in work order of its client could result in loss of business or compensation payment.

The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.

Its positioning in terms of size/operation in the state of Gujarat may not be maintained.

Its Restated Financial Statements are reviewed and Signed by the Peer Review Auditors who is not Statutory Auditors of the Company as required under the provisions of ICDR.

Projects undertaken through a joint venture may be delayed on account of the performance of the joint venture partner or, in some cases, significant losses from the joint venture may have an adverse effect on its business, results of operations and financial condition.

There is no assurance of customer continuity in its business and the company is required to submit bids for each project on a competitive basis.

Bidding for a tender involves various management activities such as detailed project study and cost estimations. Inability to accurately estimate the cost may lead to a reduction in the expected rate of return and profitability estimates.