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Home Credit Perspective Reports Punjab Infrastructure Development Board
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Entity-Specific Rating Rationales

05 May 2026

Punjab Infrastructure Development Board: Ratings reaffirmed

Punjab Infrastructure Development Board: Ratings reaffirmed

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14 May 2025

Punjab Infrastructure Development Board: Rating reaffirmed

Punjab Infrastructure Development Board: Rating reaffirmed

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04 Jul 2024

Punjab Infrastructure Development Board: Rating reaffirmed

Punjab Infrastructure Development Board: Rating reaffirmed

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06 Jul 2023

Punjab Infrastructure Development Board: Rating reaffirmed

Punjab Infrastructure Development Board: Rating reaffirmed

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Entity-Specific Credit Perspective Reports

02 Jun 2026

Punjab Infrastructure Development Board

Punjab Infrastructure Development Board (Non-SF)

05 Jun 2025

Punjab Infrastructure Development Board

Punjab Infrastructure Development Board (Non-SF)

24 Jul 2024

Punjab Infrastructure Development Board

Punjab Infrastructure Development Board (Non-SF)

21 Jul 2023

Punjab Infrastructure Development Board

Punjab Infrastructure Development Board (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Bonds/NCD/LTD -- -- [ICRA]BBB-(Stable)(CE) --
Rs. 750-crore Regular Return Bonds- Series IVA, IVB and IVC -- -- * --

Our Analysts

Analyst 1

Shanttanu Phulzade

Analyst 2

M Rajashekar Reddy

Sector Head

Ashish Modani
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