Sunteck Realty has announced that its long-term rating of 'AA-/Stable' and short-term rating of 'A1+' have been affirmed by the leading rating agency, ICRA.
The rating derives strength from the healthy track record of the company in real estate development in the Mumbai Metropolitan Region (MMR), good diversification in business profile from luxury to mid-income and affordable segments and a comfortable committed cash flow position. The adoption of an asset light model for land acquisition through joint development agreements (JDAs) allows the company to maintain optimum leverage levels, according to the ICRA.
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