This is to inform that the rating committee of the rating agency Infomerics Valuation and Rating Pvt. Ltd. (Infomerics) has assigned long-term rating of IVR AA-/Stable Outlook (IVR Double A Minus with Stable Outlook) to long-term fund based borrowings and IVR A1+ (IVR A1 Plus) to short term borrowings/instruments of Indiabulls Real Estate Limited (IBREL or the Company).
Infomerics cited the following in assigning the ratings:
IBRELs capital structure has seen a substantial improvement in the recent years. With business strategy focusing on an asset-light model the Company has divested much of its properties and assets and reduced its debt from the sales proceeds.
Adequate liquidity characterized by sufficient cushion in accrual vis-a-vis repayment obligations and moderate cash balance.
The rating derives strength from the Indiabulls Group being a diversified group with experienced promoters improving capital structure and available land bank.
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