News Stocks B-Right Real Estate Limited Receives Reaffirmed Credit Rating for Fixed Deposit Facilities Worth Rs 40.00 CroreB-Right Real Estate Limited Receives Reaffirmed Credit Rating for Fixed Deposit Facilities Worth Rs 40.00 Crore
B-Right Real Estate Limited has received a reaffirmed IVR BBB-/Stable credit rating from Infomerics Valuation and Rating Limited for fixed deposit facilities worth Rs 40.00 crore, with proposed deposits reduced to Rs 38.02 crore and existing deposits enhanced to Rs 1.98 crore. The company demonstrated strong financial performance with total operating income growing from Rs 40.91 crore in FY24 to Rs 103.43 crore in FY25, supported by strategic Mumbai project locations and established funding arrangements.
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B-Right Real Estate Limited has received a reaffirmed credit rating from Infomerics Valuation and Rating Limited for its fixed deposit facilities worth Rs 40.00 crore. The company submitted the intimation to BSE Limited on March 02, 2026, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Credit Rating Details
Infomerics Valuation and Rating Limited has reaffirmed the IVR BBB-/Stable rating for B-Right Real Estate's fixed deposit facilities after reviewing the company's operational and financial performance for FY25 (Audited) and H1FY26. The rating committee conducted its review on February 24, 2026.
| Facility Type: | Amount (Rs. crore) | Current Rating | Previous Rating | Rating Action |
|---|---|---|---|---|
| Long Term – Proposed Fixed Deposits: | 38.02 (Reduced from Rs 38.98 crore) | IVR BBB-/Stable | IVR BBB-/Stable | Rating Reaffirmed |
| Long Term – Fixed Deposits: | 1.98 (Enhanced from Rs 1.02 crore) | IVR BBB-/Stable | IVR BBB-/Stable | Rating Reaffirmed |
| Total: | 40.00 | IVR BBB-/Stable | IVR BBB-/Stable | Rating Reaffirmed |
Key Rating Strengths
The rating reflects several positive factors including completion of funding closure for the project with total estimated cost of Rs 586.27 crore to be funded through promoter contribution of Rs 67.00 crore, borrowings of Rs 30.00 crore and customer advances of Rs 489.27 crore. The company has already incurred Rs 183.95 crore, representing approximately 31% of the total estimated cost.
| Financial Parameter: | Amount (Rs. crore) |
|---|---|
| Total Project Cost: | 586.27 |
| Promoter Contribution: | 67.00 |
| Borrowings: | 30.00 |
| Customer Advances: | 489.27 |
| Amount Already Incurred: | 183.95 |
The projects are strategically located in Mumbai, benefiting from proximity to essential amenities and infrastructure including highways, airports, railways, metro lines, schools, shopping malls and hospitals. The company has an established track record with total saleable area of 10.37 lakh square feet across completed projects, with all units already sold.
Financial Performance
The company's consolidated financial performance shows significant growth in total operating income, rising from Rs 40.91 crore in FY24 to Rs 103.43 crore in FY25. However, PAT margin declined from 5.75% to 1.61% during the same period.
| Financial Metric: | FY24 (Audited) | FY25 (Audited) |
|---|---|---|
| Total Operating Income (Rs. crore): | 40.91 | 103.43 |
| EBITDA (Rs. crore): | 9.82 | 13.07 |
| PAT (Rs. crore): | 2.43 | 1.69 |
| Total Debt (Rs. crore): | 154.10 | 78.37 |
| Tangible Net Worth (Rs. crore): | 141.87 | 143.77 |
| EBITDA Margin (%): | 24.00 | 12.64 |
| PAT Margin (%): | 5.75 | 1.61 |
| Overall Gearing Ratio (x): | 1.09 | 0.55 |
| Interest Coverage (x): | 8.12 | 5.91 |
Rating Validity and Risk Factors
The credit rating remains valid for one year from February 24, 2026. Infomerics has identified key rating weaknesses including project execution and marketing risks associated with ongoing projects, inherent cyclical nature of the real estate sector, and geographical concentration risk with all projects located in and around Mumbai.
Company Background
B-Right Real Estate Limited is an integrated construction and real estate development company incorporated in 2007, focused primarily on residential and commercial projects in and around Mumbai. The company is promoted and managed by Mr. Sanjay Nathalal Shah, Chairman and Managing Director, through Cheerful Dealtrade LLP and Blow Sales LLP. Company Secretary and Compliance Officer Bhagyashree Mehadia (ACS: 77087) signed the regulatory intimation confirming that rating information will be available on the company's website for stakeholder access.
Historical Stock Returns for B Right Realestate
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.93% | +4.62% | +32.16% | +83.78% | +103.93% | +385.71% |
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