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Entity-Specific Rating Rationales

20 Jun 2025

Lodha Developers Limited: Ratings reaffirmed for existing limits; rating of [ICRA]AA (Stable) assigned to Rs. 50.00-crore proposed NCDs

Lodha Developers Limited: Ratings reaffirmed for existing limits; rating of [ICRA]AA (Stable) assigned to Rs. 50.00-crore proposed NCDs

27 May 2025

Macrotech Developers Limited: Long-term rating upgraded to [ICRA]AA (Stable); short-term rating reaffirmed; outlook revised to Stable from Positive; rating assigned for Rs. 180 crore proposed NCDs

Macrotech Developers Limited: Long-term rating upgraded to [ICRA]AA (Stable); short-term rating reaffirmed; outlook revised to Stable from Positive; rating assigned for Rs. 180 crore proposed NCDs

20 Dec 2024

Macrotech Developers Limited: Ratings reaffirmed and outlook revised to Positive; rating withdrawn for Rs. 705 crore of redeemed NCDs

Macrotech Developers Limited: Ratings reaffirmed and outlook revised to Positive; rating withdrawn for Rs. 705 crore of redeemed NCDs

23 Apr 2024

Macrotech Developers Limited: Ratings reaffirmed for existing limits; rating of [ICRA]A1+ assigned to proposed Commercial Paper programme

Macrotech Developers Limited: Ratings reaffirmed for existing limits; rating of [ICRA]A1+ assigned to proposed Commercial Paper programme

04 Apr 2024

Macrotech Developers Limited: Ratings upgraded to [ICRA]AA- (Stable)/ [ICRA]A1+; outlook revised to Stable

Macrotech Developers Limited: Ratings upgraded to [ICRA]AA- (Stable)/ [ICRA]A1+; outlook revised to Stable

06 Mar 2024

Macrotech Developers Limited: [ICRA]A+ (Positive) assigned for fresh NCD; rating outstanding for existing bank loans and NCD

Macrotech Developers Limited: [ICRA]A+ (Positive) assigned for fresh NCD; rating outstanding for existing bank loans and NCD

03 Nov 2023

Macrotech Developers Limited: [ICRA]A+ (Positive) assigned for fresh NCD; rating outstanding for existing bank loans and NCD

Macrotech Developers Limited: [ICRA]A+ (Positive) assigned for fresh NCD; rating outstanding for existing bank loans and NCD

11 Oct 2023

Macrotech Developers Limited: Change in Limits for Bank Facilities

Macrotech Developers Limited: Change in Limits for Bank Facilities

20 Sep 2023

Macrotech Developers Limited: Ratings reaffirmed

Macrotech Developers Limited: Ratings reaffirmed

11 Jul 2023

Macrotech Developers Limited: Fresh rating assigned to proposed NCD programme; rating reaffirmed for existing NCDs and bank limits

Macrotech Developers Limited: Fresh rating assigned to proposed NCD programme; rating reaffirmed for existing NCDs and bank limits


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Entity-Specific Credit Perspective Reports

09 Jul 2025

Lodha Developers Limited

Lodha Developers Limited (Non-SF)

21 Jan 2025

Lodha Developers Limited

Lodha Developers Limited (Non-SF)

06 May 2024

Lodha Developers Limited

Lodha Developers Limited (Non-SF)

08 Aug 2023

Lodha Developers Limited

Lodha Developers Limited (Non-SF)

25 Nov 2022

Lodha Developers Limited

Lodha Developers Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Fund based Term Loan -- -- [ICRA]AA(Stable) --
Non Convertible Debenture -- -- [ICRA]AA(Stable) --
Unallocated Limits [ICRA]A1+ -- [ICRA]AA(Stable) --
Commercial Paper [ICRA]A1+ -- -- --

Our Analysts

Analyst 1

Hemanth Vasishta Attaluri

Analyst 2

Pulkit Varshney

Sector Head

Ashish Modani
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