A "non-Performing asset" is an asset which does not behave as well as initially expected. For instance a "non-Performing loan" sees the borrower not paying on time and/or in full any Interest and/or Principal due as per the Amortisation schedule. A project which is "non-Performing" (or "poorly Performing", or "Under-performing") is a project which is not being constructed on time and on budget, and/or starts generating cash flows which are lower than anticipated. The opposite of "non-Performing" is "Performing". The opposite of "Under-performing" is "Over-performing".

(See Chapter 22 Shares of the Vernimmen)

To know more about it, look at what we have already written on this subject