MUMBAI
India Ratings and Research on Wednesday has assigned a long-term `IND A-' rating to Lodha Developers' bank loans worth`. 1,750 crore with stable outlook, reports Our Bureau.The agency has taken a consolidated view of Lodha Developers and all its arms and SPVs under the Lodha Group while arriving at the rating, considering the business and legal linkages among them, India Ratings said in a release. In a highly cyclical and volatile sector, the `IND A-' rating confirms the group's commitment to quality housing through world-class design, alliances and differentiated branding. Lodha Group focuses on large-scale projects across segments; its top projects include Palava, World Towers, The Park and New Cuffe Parade, which accounted for 80% of the total sales in 2014-15, the group said in a separate release. “The rating by India Ratings reflects our strong fundamentals, operational and sales expertise and high quality land bank. We look forward to further strengthening our financial performance over the next 18 months,“ said Abhishek Lodha, MD of the group.
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