Credit rating agency, ICRA has upgraded the rating assigned to the fixed deposit programme of Gruh Finance from MAA+ to MAAA. The rating agency has also reaffirmed A1+ rating assigned earlier to the Rs 1,700 crore short term debt programme of the company. The outlook on the long-term and medium term ratings is stable.
The company has received the said rating on the back of its consistent performance and its demonstrated track record of reporting superior earnings.
Gruh Finance is primarily engaged in the business of providing long term finance to individuals for construction, purchase, extension, repair and renovation of their homes. It also provides loans to professionals for office premises.
