India Ratings and Research (Ind-Ra) has assigned SSPDL a long-term issuer rating of 'IND BB'. The outlook is stable. The agency has also assigned SSPDL's proposed Rs 100 million fund-based working capital limits a 'Provisional IND BB' rating with a stable outlook.

The ratings reflect SSPDL's high reliance on customer advances for the completion of its on-going projects. The ratings also reflect the risk of timely execution for SSPDL's on-going projects as some of them are in the nascent stage, with the biggest project being completed to the extent of 12% of the total construction.

The ratings also consider the associated high geographical concentration risk as the company is only executing its projects in Chennai and Hyderabad. The ratings benefit from the promoter's extensive experience of over two decades in the real estate sector.