Keystone Realtors (Rustomjee) has secured a CRISIL AA-/Stable rating for its Rs 1,165 crore bank loan facilities. This rating, valid until July 2027, covers existing term loans and overdraft facilities with Axis Bank and ICICI Bank, signaling steady creditworthiness for the developer.
Keystone Realtors Secures CRISIL AA- Rating for Rs 1,165 Crore Debt
Credit Rating Assigned: CRISIL AA-/Stable
Total Bank Loan Facilities: Rs 1,165 Crore
Reader Takeaway: The stable rating indicates steady creditworthiness for the developer, providing transparency on its Rs 1,165 crore debt.
What just happened
Keystone Realtors Limited, known for the Rustomjee brand, has been assigned a credit rating of CRISIL AA-/Stable by CRISIL Ratings Limited. The rating pertains to the company's total bank loan facilities, which currently aggregate to Rs 1,165 crore.
Breakup of Bank Loan Facilities
The assigned rating covers a mix of existing and proposed debt facilities:
- Axis Bank Limited: Rs 75 crore (Overdraft Facility)
- Axis Bank Limited: Rs 135 crore (Term Loan)
- ICICI Bank Limited: Rs 300 crore (Term Loan)
- Proposed Term Loan: Rs 655 crore
Why this matters
For investors, a credit rating from a major agency serves as an independent assessment of a company's ability to service its debt. The 'Stable' outlook confirms that CRISIL expects Keystone Realtors to maintain its financial discipline and credit profile over the near-to-medium term. This disclosure enhances transparency regarding the company’s capital structure and leverage position.
What to track next
The rating remains valid until July 30, 2027. Investors should monitor any future changes in the company's leverage levels, project execution progress, and any subsequent surveillance updates provided by CRISIL Ratings, which could impact this credit standing.