Credit rating agency, ICRA has assigned the long term rating of B+ to the Rs 50 crore fund based bank facilities of Vipul. The rating agency also has a rating outstanding of B+ assigned earlier to the Rs 100 crore long term debt programme of the company.
The rating assignment reflects the easing of liquidity pressure faced by the company as exhibited by on-time servicing of its debt obligation as well as steady execution progress made by the company in its on-going projects which coupled with healthy bookings and adequate customer advances has reduced the project risk for the company.
Vipul is a real estate company and its townships are envisaged as the most desirable and sought after address of tomorrow. Nestled with the most exquisite luxuries and state-of-the-art support systems, these town-ships personify the elegance of modern lifestyle.
