Kolte-Patil Developers secures "CARE AA-; Stable" rating for NCD issue

Kolte-Patil Developers Limited announced on October 4, 2025, that CARE Ratings Limited has assigned a credit rating of "CARE AA-; Stable" for its proposed Non-Convertible Debenture (NCD) issue. The NCD issue is valued at INR 250.00 crore and will have a tenure of 10 years, subject to earlier redemption through linked collections.

The credit rating from CARE Ratings Limited, effective October 4, 2025, is a significant development, subject to the completion of necessary actions by Kolte-Patil Developers. The company is required to revalidate the rating if the issue is not made within six months of the initial communication date of April 2, 2026, or if there are any changes in the issue's size or terms.

Kolte-Patil Developers will redeem the NCDs, along with any premium, as revenues are collected from earmarked units or allocated areas. The company has also assured ongoing surveillance and review of the rating by CARE Ratings, with the flexibility to revise or withdraw ratings based on future events or information.