CARE has assigned ‘A’ rating to Rs 20 crore worth Non-Convertible Debentures (NCDs) of Sunteck Realty.
The company has received the said rating on the back of its business strategy of acquiring land for projects with medium term development plans or through joint venture (JV) or joint development agreement (JDA), strong cash flow visibility, and considerable financial flexibility due to low financial leverage.
Sunteck Realty has over 35 million square feet of city centric developments across 27 projects and 4 rented assets. Of these developments, more than 80% are premium luxury residential with balance being commercial spaces.
