CARE revises ratings to Omaxe’s Bank Facilities

19 Dec 2013

Credit rating agency, CARE has revised ‘BB+’ rating to Omaxe’s Fund-based Long-term Bank Facilities worth Rs 576.53 crore, which was reduced from 681.30 crore from BB, ‘A4+’ rating to Non Fund-based Long-term Bank Facilities worth Rs 127.11 crore from BB, which was reduced from145.00 crore and BBB-/A3’ rating to Non-Fund-based Long-term/ Short-term Bank Facilities worth Rs 296.36 crore which was enhanced from 173.70 crore from BB/ A4.

The revision in the ratings take into consideration the improvement in the financial risk profile of Omaxe as reflected by an improvement in the gearing levels on account of moderate debt levels coupled with capital infusion by the promoters, stable cash flow generation on account of consistent sales progress along with healthy receipts of customer advances and satisfactory progress in the execution and delivery of projects during the year.

Omaxe is one of India’s leading real estate development companies. Founded in 1987, the company has fast spread its footprints in 9 states across 30 cities.

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Omaxe Share Price

182.00 -1.15 (-0.63%) Nov 18, 18:01
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Company Name CMP
Dilip Buildcon 403.90
NBCC (India) 38.00
Sobha 399.80
DLF 216.05
JMC Projects (India) 107.50
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