Parsvnath Developers Get an F1 (Ind) Rating

Published: December 21, 2007 at 5:36 PM | Author: Administrator
News Source: AFX News Limited

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According to Fitch ratings, Parsvnath Developers Ltd has been assigned an "F1(ind)"™ rating for its short-term debt programme, and an 'A(ind)' rating to long-term bank loans. These ratings reflect the comapy's brand recognition in the real estate market, large geographical and product diversity, long track record in real estate project execution, rapidly growing revenues and expected growth in the nationwide real estate sector. The ratings have been made keeping in mind the large quantum of area under construction and already planned to be constructed, and the scope for change in the real estate sector amidst a backdrop of a sharp rise in real estate prices in the last three to four years. Although Parsvanath targets to sell at least a portion of the upcoming space in advance considerable risk remains in the system as the absorption of space may vary based on market conditions.