Godrej Properties redeems commercial paper, CRISIL rating withdrawn

Godrej Properties Limited has fully redeemed its commercial paper program of INR 2,500 crore, as confirmed by a communication dated October 06, 2025. Following this redemption, the company requested CRISIL Ratings Limited to withdraw the credit rating assigned to this program.

CRISIL Ratings Limited has accordingly withdrawn the "CRISIL A1+" rating for the commercial paper program, effective October 06, 2025. This withdrawal is due to no outstanding amount and the rating no longer being in use.

Despite the CRISIL withdrawal, Godrej Properties has secured alternative ratings for a larger commercial paper program of INR 3,500 crore. These include an "IND A1+" rating from India Ratings and Research Private Limited and an "[ICRA] A1+" rating from ICRA Limited. These alternative ratings were communicated by the company on July 23, 2025, and July 21, 2025, respectively.