Saturday, October 23

Indiabulls Housing Finance says that Crisil has Stabilized the Upgrade

Indiabulls Housing Finance Ltd was trading at Rs197.90 per piece up by Rs1.4 or 0.71% from its previous closing of Rs196.50 per piece on the BSE
Indiabulls Housing Finance Ltd was trading at Rs197.90 per piece up by Rs1.4 or 0.71% from its previous closing of Rs196.50 per piece on the BSE

Rating agency Crisil has upgraded its outlook for Indiabulls Housing Finance Limited from negative to stable. This confirmed the company’s short-term long-term credit ratings of “AA” and “A1+”

In a filing with the BSE, the Indiabulls Housing Finance company said it received Crisil’s communication on 31 March.

Modification of rating factors in fundraising is less than the expected increase in asset quality and non-performing asset (NPA) levels in retail segments.

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The credit rating agency also observed regularisation of collection efficiency to pre-Covid levels, strong capitalization with healthy cover for asset-side risks, and a strong liquidity position of the company.

During early trade, Indiabulls Housing Finance Ltd was trading at Rs197.90 per piece up by Rs1.4 or 0.71% from its previous closing of Rs196.50 per piece on the BSE.

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