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‘F1′ – Fitch Assigned to Parsvanath Developers
| December 13, 2007 |  (Be the first to rate this story!) Loading ... |
India’s Parsvnath Developers short-term debt programme acquired ‘F1 (ind)’ rating from Fitch whereas its long-term bank loans got an ‘A (ind)’ rating.
The ratings crystallizes Parsvanath Developer’s brand recognition in the real estate market, large geographical and product diversity, long track record in real estate project execution, rapidly growing revenues and the expected growth in the nationwide real estate sector.
The ratings are done on the basis of rigorous analysis of area under construction and already planned to be constructed. Another important criterion in the judgment is the scope for volatility in the real estate sector amidst a backdrop of a sharp rise in real estate prices in the last three to four years.
Although Parsvanath targets to sell at least a portion of the upcoming space in advance considerable risk remains in the system as the absorption of space may vary based on market conditions.
News Published Under: Real Estate Developers |
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