Godrej Properties has received fresh ratings for proposed Non-Convertible Debenture (NCD) borrowing programmes from ICRA and India Ratings and Research for Rs 2,000 crore and Rs 2,500 crore, respectively.
Credit rating for the fresh proposed NCD programme of Rs 2,000 crore by ICRA has been assigned at ‘AA+’. Outlook on the long-term rating is ‘Stable’. Credit Rating for fresh proposed NCD programmes of Rs 2,500 crore by India Ratings and Research was assigned at ‘AA+/Stable’.
Additionally, the long-term rating by ICRA for existing bank facilities of Rs 4,500 crore was reaffirmed at ‘AA+/A1+’ along with the existing NCD of Rs 3,000 crore reaffirmed at ‘AA+’. The Commercial Paper (CP) limits of Rs 2,000 crore was also reaffirmed at ‘A1+’.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
