Credit Rating
We are pleased to inform you that the External credit rating agency CARE has revised the Company's rating by one notch up from 'B' to 'BB-'. The External rating agency has assigned the following as reason for revision in rating : 'Progress in its real estate joint venture project (JDA) with M/s. SPR Constructions Private Limited (SPR) and monetization of other land banks'. The copy of the letter dt. April 5, 2017 issued by CARE along with rationale for revision is enclosed herewith.11-04-2017