Godrej Properties (GPL), the real estate development arm of the Godrej Group, has received ‘AA’ rating from ICRA thus becoming the only real estate company in India, in the listed space rated by ICRA, to receive this rating.
The rating committee of ICRA upgraded GPL’s long term rating for the Line of Credit (LOC) from ‘AA-‘ to ‘AA’ and reaffirmed the short term rating at ‘A1+’. The company’s Deposit Programme continues to have ‘MAA’ rating by ICRA. This is the second consecutive year that GPL’s ratings have been enhanced.
Godrej Properties brings the Godrej Group philosophy of innovation and excellence to the real estate industry. The company is currently developing residential, commercial and township projects spread across 10.25 million square meters (110.30 million square feet) in 12 cities.
