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Puravankara credit rating upgraded


Puravankara Limited on September 21 announced that India Ratings and Research (Ind-Ra) has upgraded its long-term rating from ‘IND BBB+’ to ‘IND A-‘.
According to a press release the positive rating can be attributed to a variety of factors. Puravankara, it said, has reduced its net debt while significantly increasing its pre-sales. Its ambitious launch pipeline, which will help monetise its land bank and improve cash flows was also an important contributor, said the release.