Credit rating agency CARE has reaffirmed ‘A1+’ rating to Indiabulls Real Estate’s (IBREL) commercial paper (CP) issue worth Rs 500 crore. The rating continues to derive strength from the track record of the management to execute and mobilize funds for the projects, IBREL’s recognized brand name, moderate financial leverage, availability of sizeable land bank and healthy booking resulting in comfortable revenue visibility.
IBREL is engaged in real estate development, directly as well as through various subsidiaries and associate companies. The main focus of IBREL is construction and development of properties, project management, investment advisory and construction services.
