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April 26, 2021 × While the ongoing second wave of Covid-19 could cause some disruptions in the overall construction activity in the country, the performance of most mid and large-sized construction companies is not expected to be materially impacted, according to ICRA Most of these companies are focussed on non-urban infrastructure projects (roads, railways, irrigation, etc) which are primarily located in relatively remote areas. However, the continued deterioration of Covid situation and resulting lock downs remain a risk, according to the rating agency. Furthermore, unlike the first wave, there is no nationwide lockdown and only localised lockdown/restrictions with exemption for construction activities. Nevertheless, projects which are located within the urban areas such as metro-rail projects, building construction etc are likely to feel a greater impact due to localised restrictions and reverse migration of labour. ....