Credit Rating received by the Company on 10th February 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Infomerics Valuation and Rating Ltd has assigned a credit rating of IVR BBB- with a Stable outlook to Ratnabhumi Developers' Long Term Bank Facility of Rs. 151 crore. The rating covers three term loans from State Bank of India (Rs. 28.25 cr, Rs. 60.25 cr, and Rs. 62.50 cr) maturing in March 2030. This is an upgrade from the previous rating of IVR BB with Negative outlook (which was in 'Issuer Not Cooperating' status) assigned in 2024-25. The rating is supported by strong project execution capabilities, healthy FY25 business performance with revenue of Rs. 213.47 crore (versus just Rs. 0.28 crore in FY24), and experienced promoters from the Ratna Group. Key concerns include leveraged capital structure (overall gearing of 5.50x), execution risks in ongoing Ahmedabad projects (40-43% complete), and geographic concentration risk. The rating is valid until February 8, 2027.
The upgrade from BB (Negative) to BBB- (Stable) is a positive development, improving the company's credit profile and signaling better debt-servicing capacity. Shareholders may see this as a sign of improving fundamentals, though the rating remains below the original BBB (Stable) level from 2022-23.