News
Gaurs Group gets ICRA rating upgrade
Credit rating agency ICRA has awarded BBB+ with Stable Outlook rating to Gaurs Group, also known as Gaursons India.
The rating upgrade reflects the reduction in Gaurs Group’s debt levels, which coupled with the healthy execution and the continued sales momentum in ongoing performance, has improved the Group’s cash flow adequacy ratio, according to a press release.
The Group said the rating given is based on strong listing due to timely payment to banks, strong receivables, and timely deliveries. It reflects ICRA’s expectation that the financial and operational risk profile of the group will remain strong, going forward, driven by its established market position in the real estate sector.
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