Prestige Group Projects Ltd Receives Crisil Reaffirmation Of Da1+ Grade

Prestige Group Projects has received a reaffirmation of its Crisil DA1+ grading. It is the highest grading given by Crisil to a real estate builder. Prestige Group is the only developer to get this esteemed grading. It shows their ability to execute real estate projects with the best quality standards. They will finish all the projects at the correct time while having clear title transfers.

Irfan Razack, who is the MD of Prestige Group, is pleased with Crisil's reaffirmation of DA1+ grading. It is a testament to their financial strength and the trust in them from buyers. Their focus remains on giving the best projects and expanding their footprint to a lot of cities. They are setting new benchmarks in the real estate industry. They continue to create the best spaces that enhance the urban landscape.

The reaffirmation shows Prestige Group’s track record and its strong financial position. It also shows their brand reputation and their best team. Crisil has factored in the company’s presence across housing and commercial areas. It also tells the collaborations with leading industry players, and the project pipeline across Indian cities.

They are also expanding their efforts by entering new cities, including NCR, Pune, Mumbai, and Goa. They also continue to leverage their strong presence in other cities such as Hyderabad, Chennai, Bangalore, and Kochi. This is aimed at tapping into high growth regions. They are also working to meet the demand for housing spaces across India.

The financial strength of the Prestige Group was a key factor in the reaffirmation. It has a net worth increasing to Rs. 11,801 Crores in FY24 from Rs. 10,258.50 Crores in FY23. They also recorded a profit after tax of Rs. 1,628 Crores, up from Rs. 1,066 Crores in the previous year. It was a better debt to equity ratio.

Binaifer Jehani, who is the Business Head of Crisil, said, The reaffirmation of Prestige Group DA1+ grading reflects its good financial position and its presence across real estate areas. Prestige Group's ability to deliver quality projects across a lot of big cities continues to fuel its growth.

Prestige Group has done over 300 projects till now over an area of 192 million sq ft. As of Sep 2024, they are working on 57 ongoing projects. It was over 99 million sq ft. They still have 62 upcoming projects over 94 million sq ft in the pipeline. Their commitment to shaping India’s urban area is reflected in its focus on buyer-centric growth. It will meet the growing needs of modern living spaces.

Prestige Group pre launch new project is Prestige Spring Heights