Godrej Properties Limited , a leading real estate developer in India, has received a vote of confidence from ICRA Limited, a prominent credit rating agency. ICRA has reaffirmed and assigned credit ratings for Godrej Properties' financial instruments totaling Rs 20,500.00 crore, underscoring the company's strong financial position and creditworthiness in the market.

Enhanced Non-Convertible Debentures Limit

One of the key highlights of ICRA's assessment is the enhancement of Godrej Properties' non-convertible debentures (NCDs) limit. The rating agency has increased the NCD limit from Rs 4,000.00 crore to Rs 6,000.00 crore while maintaining the [ICRA]AA+ rating with a stable outlook. This upgrade in the NCD limit suggests an increased capacity for the company to raise funds through this instrument.

Commercial Paper and Bank Facilities Ratings

ICRA has reaffirmed its ratings for other financial instruments of Godrej Properties:

Rating Implications

The reaffirmation of these high credit ratings reflects ICRA's positive assessment of Godrej Properties' financial strength and stability. The [ICRA]AA+ rating indicates a high degree of safety regarding timely servicing of financial obligations and very low credit risk. Similarly, the [ICRA]A1+ rating for short-term instruments signifies the strongest degree of safety for timely payment.

Company's Official Announcement

In compliance with regulatory requirements, Godrej Properties Limited officially announced these rating actions through a filing to the BSE Limited and the National Stock Exchange of India Limited on July 21, 2025. The company's disclosure, signed by Company Secretary Ashish Karyekar, details the specific instruments and their respective ratings as assigned by ICRA.

The stable outlook accompanying these ratings suggests that ICRA expects Godrej Properties to maintain its strong credit profile in the foreseeable future. This positive assessment could potentially enhance the company's ability to access capital markets and secure favorable terms for future fundraising activities, supporting its growth and operational strategies in the competitive real estate sector.

For investors and stakeholders, these ratings provide a comprehensive and independent evaluation of Godrej Properties' financial instruments, offering valuable insights into the company's credit quality and financial robustness.

Godrej Properties Limited , a leading real estate developer in India, has received a vote of confidence from ICRA Limited, a prominent credit rating agency. ICRA has reaffirmed and assigned credit ratings for Godrej Properties' financial instruments totaling Rs 20,500 crore, underscoring the company's robust financial position and creditworthiness.

Enhanced Non-Convertible Debentures Limit

In a significant development, ICRA has enhanced the non-convertible debentures (NCDs) limit for Godrej Properties from Rs 4,000 crore to Rs 6,000 crore. Despite this substantial increase, the rating agency has maintained the [ICRA]AA+ (Stable) rating for these instruments. This rating indicates a high degree of safety regarding timely servicing of financial obligations and very low credit risk.

Commercial Paper and Bank Facilities Ratings

The credit rating agency has also reaffirmed its ratings for other financial instruments of Godrej Properties:

• Commercial Paper: The [ICRA]A1+ rating has been retained for commercial paper worth Rs 3,500 crore. This is the highest rating for short-term debt instruments, suggesting very strong degree of safety regarding timely payment of financial obligations.
• Bank Facilities: Long and short-term fund-based and non-fund-based bank facilities amounting to Rs 11,000 crore have been reaffirmed with [ICRA]AA+ (Stable) for long-term and [ICRA]A1+ for short-term ratings.

Implications of the Ratings

The reaffirmation of these high credit ratings across various financial instruments reflects ICRA's confidence in Godrej Properties' financial strength and stability. The stable outlook indicates that ICRA expects the company to maintain its creditworthiness consistently in the foreseeable future.

Official Announcement

According to the official announcement made by Godrej Properties to the stock exchanges, the ratings were assigned and reaffirmed by ICRA Limited through a letter dated the same day. The company, in compliance with SEBI regulations, promptly disclosed this material information to ensure transparency with its stakeholders.

Conclusion

The strong credit ratings assigned by ICRA Limited for Godrej Properties' various financial instruments, totaling Rs 20,500 crore, highlight the company's solid financial foundation and positive outlook in the real estate sector. These ratings may potentially benefit the company in terms of lower borrowing costs and increased investor confidence, supporting its future growth and expansion plans in the competitive Indian real estate market.