ICRA Reaffirms Ratings for Puravankara Ltd.'s Rs 3,000 Crores in Bank Facilities
Puravankara Limited, formerly known as Puravankara Projects Limited, has received reaffirmation of its credit ratings from ICRA Limited regarding its bank facilities amounting to Rs 3,000 Crores. The rating action was confirmed by ICRA Limited in a communication dated June 26, 2025.ICRA reaffirmed the long-term rating at [ICRA] A-(Stable) and the short-term rating at [ICRA] A2+ for the facilities.
The comprehensive ratings cover various instruments, including unallocated limits, term loans, and non-fund based facility commitments.
Financial Rating Summary
The total rated amount stood at Rs 3,000.00 Crores, covering both long-term and short-term instruments. The detailed breakdown of the facilities and their corresponding ratings as per ICRA is provided below:| Instrument Category | Rated Amount (Rs. Crore) | Long-Term Rating | Short-Term Rating |
|---|---|---|---|
| Unallocated Limits | 1.00 | [ICRA]A-(Stable)/[ICRA]A2+ | [ICRA]A2+ |
| Unallocated Limits | 1,077.31 | [ICRA]A-(Stable) | N/A |
| Short-Term Non-fund based Others | 110.00 | N/A | [ICRA]A2+ |
| Long-term Term Loan | 1,731.69 | [ICRA]A-(Stable) | N/A |
| Short-Term Fund-based Others | 80.00 | N/A | [ICRA]A2+ |
| Total | 3,000.00 |
Detailed Bank Limits Rated by ICRA
The facilities are backed by various lending institutions and types of instruments. The ratings assigned to the bank limits, as issued by ICRA Limited, are detailed in the tables below.Long-Term and Short-Term Instruments:
| Instrument Name | Amount (Rs. Crore) | Rating |
|---|---|---|
| Unallocated Limits | 1.00 | [ICRA]A-(Stable)/[ICRA]A2+ |
| Unallocated Limits | 1,077.31 | [ICRA]A-(Stable) |
| Short-Term Fund-based Others | 80.00 | [ICRA]A2+ |
| Long-term Term Loan | 1,731.69 | [ICRA]A-(Stable) |
Detailed Bank Limits and Ratings:
The rated facilities span various banks and financial institutions, with ICRA providing ratings specific to the terms and conditions of each instrument. Key assignments include:
- Standard Chartered Bank: Rated for OverDraft Facilities (45.00 Rs Crore; [ICRA]A2+) and Term Loans (35.00 Rs Crore; [ICRA]A-(Stable)).
- IDFC FIRST Bank Limited: Rated for OverDraft Facilities (5.00 Rs Crore; [ICRA]A2+) and a Bank Guarantee amounting to 110.00 Rs Crores ([ICRA]A2+).
- Term Loans from Major Lenders: The company holds numerous term loans, rated across various financial partners such as Tata Capital Housing Finance Limited (42.71 Rs Crore; [ICRA]A-(Stable) and 117.17 Rs Crore; [ICRA]A-(Stable)), State Bank of India (51.87 Rs Crore; [ICRA]A-(Stable)), Standard Chartered Capital Limited (189.20 Rs Crore; [ICRA]A-(Stable)), and Axis Bank Limited (a combined total of 3,000.00 Rs Crores, rated at [ICRA]A-(Stable)).
As per ICRA, the rating(s) are specific to the terms and conditions of the instruments as indicated by Puravankara Limited.
PURVA Stock Price Movement
Shares of Puravankara Limited shed 1.20% on Thursday, closing at ₹212.97 after the equity dipped by ₹2.57. The stock recorded a total traded volume of 59,621 shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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