iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

ICRA reaffirms rating on Godrej Properties' instruments worth Rs7,000 crore

15 Sept 2022 , 02:28 PM

Godrej Properties Limited informed that rating agency ICRA Limited has reaffirmed the ratings assigned to the company’s bank facilities.

ICRA reaffirmed the ‘ICRA AA+’ rating on total bank facilities worth Rs7,000 crore. The outlook has been set as Stable.

Total facilities reviewed include long-term fund-based facilities worth Rs1,900 crore, and non-fund-based facilities worth Rs350 crore.

Limit of long-term/short-term unallocated instrument’s value enhanced from Rs250 crore to Rs2,250 crore.

Rating on Commercial Paper programme worth Rs1,500 crore has been reaffirmed at ‘ICRA A1+’. It also includes NCDs worth Rs1,000 crore.

The reaffirmation of the company’s ratings takes into account the continued improvement in its profitability measures, driven by a favourable and diversified mix of project development models and a robust increase in cash flows as operations scale up.

Profitability is likely to improve further in the future, supported by a robust pipeline of projects to be executed in the near to medium term. The growing proportion of interest and service revenue from joint venture (JV) firms, as well as the recent increase in price realizations, will help to boost profitability, stated ICRA in its rating rationale.

At around 2.25 PM, Godrej Properties was trading at Rs1,385 per piece, down by 2.17% from its previous closing of Rs1,415.65 on the BSE. The scrip touched intraday high and low of Rs1,421.80 and Rs1,373.45 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • CreditRating
  • Godrej Properties ICRA Ratings
  • Godrej Properties New project
  • Godrej Properties news
  • Godrej Properties Stock
  • Godrej Properties Updates
  • GodrejCreditRating
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.