CRISIL believes that Faculty of Engineering Shree Saraswati Education(SSES’s) capital structure will remain moderately leveraged and its debt protection measures, weak, during the trust’s project execution phase. The outlook may be revised to ‘Positive’ if the trust completes its ongoing project on schedule, and obtains accreditation and affiliation on time fromAll India Council for Technical Education (AICTE), New Delhi, and Gujarat Technical University (GTU), Ahmedabad, for its second-year engineering courses. Conversely, the outlook may be revised to ‘Negative’ if SSES faces time or cost overruns in its ongoing project, or contracts larger-than-expected quantum of debt for its future capital expenditure. Faculty of Engineering Shree Saraswati Education(SSES’s), a trust, was set up by Mr. Mahadevbhai Chaudhary in 2008. The trust is setting up an engineering institute at Mehsana (Gujarat). The institute is having an engineering and a management division and is named, Faculty of Engineering & Faculty of Management - Shree Saraswati Education Sansthan`s Group of Institutions, and is offering courses in management and four branches of engineering. Each course would have 60 seats. The trust has already received affiliation from GTU and AICTE for this upcoming institute. Mr. Chaudhary is also heading the trust Shree Saraswati Education Sansthan-Sabraknatha, which has been running three educational institutes since 2003.