ICRA reaffirms ratings assigned to bank facilities of Puravankara Projects

16 Mar 2016

Credit rating agency, ICRA has reaffirmed ‘BBB’ rating assigned to Rs 1,650 crore long term credit line of Puravankara Projects’ including ‘A3+’ rating for short term limits. The outlook on the long term rating has been revised from positive to stable.

The credit rating agency has also assigned ‘BBB’ rating for Rs 500 crore long term credit line of the company with a ‘A3+’ rating for short-term limits (interchangeable) for Provident Housing (a 100% and material unlisted subsidiary of the company).

Puravankara Projects is a leading real estate company in India, with significant presence in Bengaluru, kochi, Chennai, Hyderabad and Mysore.

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