Brickwork Ratings upgrade credit ratings of Ganesh Housing Corporation Ltd

Brickwork Ratings India Pvt. Ltd. vide its rating rationale dated 3rd March, 2022 published on its website, has upgraded the ratings of Bank Loan Facilities (Long Term) of Ganesh Housing Corporation Ltd by 3 notches from BWR B- to BWR BB- and outlook has been upgraded from Negative to Stable.

Brickwork's observations, inter-alia, state that the upgrade in the rating reflects improved financials, a significant reduction in debt, improved leverage metrics, cash inflow receipts from sales of land parcels, improved cash flows as the company has already received customer advances ofRs.72 crs from the running projects, and monitisation of the land bank resulted in a reduction in debt indeed resulting in improved gearing ratio.

Shares of Ganesh Housing Corporation Limited was last trading in BSE at Rs. 221.20 as compared to the previous close of Rs. 209.60. The total number of shares traded during the day was 22686 in over 786 trades.

The stock hit an intraday high of Rs. 222.90 and intraday low of 211.00. The net turnover during the day was Rs. 4925053.00.

Source : Equity Bulls

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GaneshHousingCorporation INE460C01014 GANESHHOUC Realty RatingUpgrade