Raymond Realty Limited has informed the Exchange about Credit Rating
RAYMONDREL · price
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Awaiting price reaction for this filing.
CARE Ratings has assigned credit ratings to Raymond Realty Limited (RRL) and its two wholly-owned subsidiaries on bank facilities totaling Rs. 2,500 crore. RRL received CARE A+; Stable on Rs. 1,000 crore long-term bank facilities, while Ten X Realty West Limited and Ten X Realty East Limited each received CARE A-; Stable on Rs. 1,000 crore and Rs. 500 crore respectively. This marks the first credit rating assignment since RRL was demerged from Raymond Limited and listed on the stock exchange on July 1, 2025. CARE highlighted strong booking momentum (over 70% of ongoing project revenue potential sold), net debt-free status, Rs. 480 crore cash reserves, and backing from the resourceful Raymond Group as key strengths. Concerns flagged include execution and marketing risk on a large Rs. 8,000+ crore expansion pipeline, heavy reliance on customer advances, and geographic concentration in Thane.
A positive signal — investment-grade ratings (A+ and A-) with stable outlook validate the company's financial health and should support competitive borrowing costs for the recently-listed entity. Shareholders should monitor timely execution of upcoming project launches in Bandra, Mahim, and Wadala, as any slippage could trigger rating action.