Credit rating agency, India Ratings has assigned ‘A1+’ rating to Mahindra Lifespace Developers’ short-term unsecured commercial paper worth Rs 150 crore due to its strong brand name, long track record and diversified across geography and ticket size, and strategic linkages with the parent firm.
The A+ rating means that the commercial paper have adequate degree of safety regarding timely servicing of financial obligations. The purpose of the commercial paper is to refinance the company's existing borrowings.
Mahindra Lifespace Developers, the real estate and infrastructure development business of the $16.9 billion Mahindra Group, is a leader in sustainable urban development, through the creation of residential and integrated large format developments across nine Indian cities - Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bangalore.
Company Name | CMP |
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Macrotech Developers | 1211.00 |
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DLF | 877.75 |
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