Godrej properties receives AA rating by ICRA

Q: Godrej properties, the real estate arm of the Godrej Group, has received AA rating from ICRA for its bank facilities

Abhishek,

2nd November 2015

Real estate News in Mumbai

godrej properties

godrej group

residential projects

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Replies (2)

Yes,
And company is happy with this rating. This will surely allow them to further reduce their cost of capital, improve their returns, and their ability to invest in exciting new opportunities.

Mansoor Bithal, Mumbai

2nd November 2015

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@Mansoor,
At the same time, the Mumbai based Real Estate developer becomes the only real estate company in India in the listed space rated by ICRA to receive this rating. The company is currently developing residential, commercial and township projects spread across 10.25 million sq-mtr in 12 cities

Ravindra Singh,

2nd November 2015

Hi Abhishek,
The Rating Committee of ICRA upgraded Godrej Properties' long term rating for the Line of Credit (LOC) from ICRA double A minus {[ICRA]AA-} to ICRA double A {[ICRA]AA} and certify the short term rating at ICRA A one plus {[ICRA]A1+}.

Mansoor Bithal, Mumbai

2nd November 2015

Comment

Hi Mansoor,
I heard that the Rating Committee also reaffirmed the M double A (MAA) rating assigned to the company's Deposit Programme. This is the 2nd consecutive year that GPL's ratings have been increased,

Ravindra Singh,

2nd November 2015