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As on 10-Sep-2026  21:42

Crisil Ratings revised ratings for Kalpataru Ltd facilities linked to HDFC Bank, Indian Bank, and PNB Housing Finance

Kalpataru Ltd announced revisions and new ratings from Crisil Ratings Limited and Crisil, alongside several key financial updates. Crisil Ratings Limited revised the rating on the Bank/Term Loan Facilities amounting to 742.94 from Crisil BBB+/Stable, linked to HDFC Bank Limited, and assigned a new rating of Crisil BBB/Stable to Bank/Term Loan Facilities of 500 and 120, associated with Indian Bank and PNB Housing Finance Limited, respectively. Crisil downgraded Bank Debt of 1362.94 Crore from Crisil BBB/Stable, previously enhanced from Rs.1126.3 Crore and Rs.383.36 Crore which has now been withdrawn, and withdrew Bank Facilities of 383.36 Crore and a Term Loan of 32383.36, both previously rated by RBI. Additionally, Crisil assigned a BBB+ rating to Long-term bank loan facilities of INR 500 crore, while also noting a reduction in Residential Debt from ~Rs 9,200 crore to ~Rs 8,000 crore, an expected Debt-to-CFO ratio remaining above 3.5 times through fiscal 2028, and sales booking increases of ~17% in fiscal 2026, with expected sales bookings of Rs 6,000–7,500 crore over fiscals 2027 and 2028.