Demonstrating Financial Stability and Operational Excellence
PUNE: Real estate developer Rohan Builders, announced that it continues to maintain its prestigious DA2+ Developer Grading from CRISIL for the 14th consecutive year, placing it among the select few developers in India to accomplish this remarkable achievement. CRISIL Developer Grading not only considers financial parameters but also evaluates operational parameters including management capabilities, timely delivery, and sales & collections.
“At Rohan Builders, our vision extends far beyond the present. We are not just constructing buildings; we are laying the foundation for an organization that is built to last for decades to come. To achieve this, we have developed a robust risk management framework that has held us in good stead even in challenging economic periods such as the 2008 financial crisis, demonetization in 2016, and the COVID-19 pandemic. The stringent conditions to earn the CRISIL Grading requires strong corporate governance, project management, and execution capability, along with financial prudence. This further helps in ultimately delivering a great product to our customers in time and with quality,” said Suhas Lunkad, Chairman & Managing Director, Rohan Builders.
Rohan Builders’ real estate vertical has completed over 65 projects measuring over 15 million sq. ft. across Pune and Bengaluru. It has 7 ongoing projects measuring about 6 million sq. ft. under construction and 4 projects in the pipeline all of which are expected to be launched by Q2 of this year.
The residential real estate markets of Pune and Bengaluru, in which Rohan Builders operates, have been robust in terms of new launches and sales over the past few quarters. The latest real estate research report shows inventory levels at 8 and 7 months respectively in both these cities, the lowest in the past decade, indicating robust demand. The company expects this momentum to continue at least for the next 3-4 quarters.
Binaifer Jehani, Business Head, MI&A Assessments, CRISIL, said “The grading indicates that the developer has a ‘Very Good’ ability to execute real estate projects of specified quality within the stipulated time and to transfer a clean title. The real estate sector needs a distinct improvement in transparency to sustain the trust of buyers. Also, selecting the best property from among the host of projects that have RERA approval continues to be a challenge for customers. Objective benchmarking and third-party evaluations, along with self-regulation by developers, can address both these issues. This is where CRISIL’s Developer Grading comes in, providing a reliable benchmark for evaluating developers’ credentials. The CRISIL grading reflects operational and financial excellence, offering reassurance to stakeholders.”
