Credit rating agency, CARE has assigned ‘BB’ rating to Vipul’s long-term bank facilities worth Rs 300 crore. The rating assigned to the bank facilities of Vipul is constrained due to the project execution and off-take risk, moderation in financial risk profile in FY16 coupled with deterioration in debt-coverage indicators and risk associated with subdued demand scenario in the real estate industry.
Nevertheless, the rating derives strength from experienced management having established track record in National Capital Region (NCR), approvals in place for ongoing projects and geographical presence across various locations.
Vipul is involved in real estate development with a strong presence in North India. The company focuses on real estate development - Residential, Commercial, Integrated Townships, Retail, Hotels & SEZ.