ICRA and CRISIL enhances Commercial Paper limits of Godrej Properties Ltd to INR 1750 crore

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced the enhancement in the Commercial Paper(CP) limits to INR 1750 crore from INR 1500 crore by ICRA and CRISIL.

Highlights:

Credit Rating for Commercial Paper(CP) limits enhanced to INR 1,750 crore from INR 1,500 crore by ICRA and CRISIL. Ratings have been reaffirmed/assigned at [ICRA]A1+ and CRISIL A1+ respectively. Instruments with these rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk.

Credit rating limits for bank facilities of INR 4,500 crore reaffirmed at [ICRA]AA+ / [ICRA]A1+. Outlook on the long-term rating is "Stable". Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Long-term rating for INR 1,000 crore NCD borrowing program reaffirmed to [ICRA] AA+. Outlook on the long-term rating is "Stable". Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 1243.05 as compared to the previous close of Rs. 1235.65. The total number of shares traded during the day was 14522 in over 1086 trades.

The stock hit an intraday high of Rs. 1264.20 and intraday low of 1231.85. The net turnover during the day was Rs. 18090497.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty RealEstate RatingUpdate LimitEnhancement CommercialPaper