Godrej Properties Limited, a prominent player in the Indian real estate sector, has received a vote of confidence from ICRA Limited, a leading 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.

Enhanced Non-Convertible Debentures Limit

In a significant development, ICRA has increased the non-convertible debentures (NCDs) limit for Godrej Properties from Rs 4,000.00 crore to Rs 6,000.00 crore. Despite this substantial enhancement, the rating agency has maintained its [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 company's commercial paper program, amounting to Rs 3,500.00 crore, has retained its [ICRA]A1+ rating. This is the highest rating assigned by ICRA for short-term debt instruments, reflecting a very strong degree of safety regarding timely payment of financial obligations.

Additionally, ICRA has reaffirmed its ratings for Godrej Properties' long-term and short-term fund-based and non-fund-based bank facilities totaling Rs 11,000.00 crore. The long-term facilities maintain their [ICRA]AA+ (Stable) rating, while the short-term facilities retain the [ICRA]A1+ rating.

Stable Outlook and Implications

The stable outlook assigned by ICRA indicates a consistent assessment of Godrej Properties' creditworthiness. This outlook suggests that the rating agency expects the company to maintain its strong financial profile and market position in the foreseeable future.

Regulatory Compliance

In compliance with the Securities and Exchange Board of India (SEBI) regulations, Godrej Properties has duly informed the stock exchanges about these credit rating actions. The company's announcement adheres to the disclosure requirements under Regulation 30 and 51(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conclusion

The reaffirmation and enhancement of credit ratings by ICRA for Godrej Properties' financial instruments worth Rs 20,500.00 crore reflect the company's strong financial health and market standing. These ratings are likely to positively impact the company's ability to raise funds and maintain investor confidence in the competitive real estate market.

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.