The rating signifies a Stable outlook and reflects the belief that Signature Global is likely to sustain its strong sales and collection momentum from its ongoing projects.

The company’s experience in the real estate industry, accompanied by a strong track record of having developed more than 146 lakh square feet of residential and commercial space, has played an important role in CareEdge Ratings assigning the CARE A+ rating.

CareEdge Ratings has also highlighted Signature Global’s timely delivery of existing projects and anticipated diversification across different stages of project development. It has also factored in the growth in overall sales and collections of the company.

Steady Sales and Launches to Sustain Momentum

In FY25, the company’s bookings saw a significant 42% year-on-year rise to ₹10,290 crore, while collections grew by 40% to ₹4,380 crore. This growth was driven by the successful launch of over seven new projects, covering more than 100 lakh square feet. By the end of FY25, bookings for ongoing projects stood at over 83%. According to CareEdge Ratings, the strong booking performance is expected to support healthy collections and strengthen the company’s cash flows in the coming years.

Based on strong sales momentum over the last nine quarters ending March 31, 2025, the company’s inventory overhang remains low at around two quarters, indicating steady demand and healthy pace of unit sales.

Adequate Liquidity Position

For the remainder of FY26, the company has debt obligations of ₹328.49 crore, which are well supported by estimated collections of over ₹6,000 crore during the fiscal year. This indicates that the company is well-positioned to meet its debt commitments, reflecting a healthy liquidity position.

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Bengaluru, June 23, 2025: Larsen & Toubro (L&T), India’s premier infrastructure and technology conglomerate, has listed India’s first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India. The company has successfully raised ₹ 500 crore through Non-Convertible Debentures (NCD) at a coupon rate of 6.35% under the Securities and Exchange Board of India’s (SEBI) newly introduced ESG and sustainability-linked bond framework.

The NCDs, having a three-year maturity period, will mature on June 19, 2028, and the interest would be paid on an annual basis. Issued in partnership with HSBC, who served as the sole lead arranger, this landmark transaction adheres strictly to SEBI’s regulatory guidelines introduced on June 5, 2025, aimed at enhancing transparency and accountability among bond issuers. The framework mandates key disclosures, including sustainability objectives, external evaluations such as Second-Party Opinions (SPOs), and continuous post-issuance reporting, with clear Key Performance Indicators (KPIs) to measure ESG impact.

Commenting on the listing, Mr. R. Shankar Raman, President, Whole-time Director & CFO, L&T said, “We are proud to lead India’s transition to sustainable finance through this pioneering ESG bond listing. This initiative underlines our dedication to long-term sustainable development and positions us at the forefront of responsible corporate governance and environmental stewardship. This deal reinforces our commitment to driving L&T’s ESG goals and supporting the larger energy transition objective.”

As part of the sustainability-linked bond agreement, L&T undertakes ambitious environmental commitments, targeting measurable reductions in freshwater withdrawal intensity and greenhouse gas emissions. These goals align with the company’s broader vision of achieving water neutrality by 2035 and carbon neutrality by 2040, supporting India’s national agenda for Net-Zero and climate-resilient growth.

This successful issuance is a significant milestone in India’s financial markets, illustrating growing investor appetite for ESG-compliant financial instruments and setting a benchmark for future sustainable financing ventures.

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National, January 09, 2025: Nido Home Finance Limited, a leading player in the Housing Finance sector, announces the success of its recent Non-Convertible Debenture (NCD) issuance, which was significantly oversubscribed. The issue of non-convertible debentures of face value ₹1000 each (“NCDs”), amounting to ₹ 500 million, with a green shoe option of up to ₹ 500 million, aggregating up to ₹ 1,000 million (“Issue”). The Issue opened on Tuesday, December 17, 2024, and closed on Tuesday, December 31, 2024, and was oversubscribed 2.05 times. The NCD aimed to raise funds that will be used for onward lending to home buyers.

This milestone underscores the trust and confidence that investors have placed in the company’s robust asset-light business model and long-term growth prospects in the affordable housing space. This issue was Nido’s fifth successful public NCD issuance in just the past year and a half. The management at Nido Home Finance remains committed to enhancing stakeholder value in the future by leveraging strategic co-lending partnerships to grow its business and continuing to invest in future-fit capabilities such as tech and analytics.

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Mumbai, January 07, 2025: Edelweiss Financial Services Limited (“EFSL”/ “Company”), today announced the public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of the face value of ₹ 1,000 each for an amount up to ₹ 1,000 million (“Base Issue Size”), with a green shoe option of up to ₹ 1,000 million, cumulatively aggregating up to ₹ 2,000 million (“Issue Limit”).

The Issue has twelve series of NCDs carrying fixed coupons and having a tenure of 24months, 36months, 60months, and 120 months with annual, monthly, and cumulative interest options. Effective annual interest yield on the NCDs ranges from 9.50% p.a. to 11.00% p.a.

The Issue is scheduled to open on Tuesday, January 7, 2025, and close on Monday, January 20, 2025**

At least 75% of the funds raised through the Issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the Company and the balance amount would be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the Issue, in compliance with the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, as amended from time to time (“SEBI NCS Regulations”).

The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/Negative (pronounced as CRISIL A plus rating with Negative outlook)”.

Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited# and Tipsons Consultancy Services Private Limited are the Lead Managers to the Issue. The NCDs will be listed on BSE Limited to provide liquidity to the investors.

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Ritwik Bhattacharjee, Interim Chief Executive Officer of Embassy REIT, said, “ We are pleased to announce this fundraise of ₹1,000 crores at a highly competitive rate, which affirms our position as the leading credit in commercial real estate. The offer witnessed strong participation from new and existing investors, including numerous first-time participants across the mutual fund, pension and insurance sectors. Raising a 5-year NCD allows us to optimally stagger our liability profile and ensure we continue to finance our growth and the rollover of debt maturities prudently.” 

Transaction Highlights 

• NCD Issuance of ₹1,000 crores of Embassy REIT Series XII NCDs 2024 with effective interest rate of 7.73%
• Robust demand from institutional investors with 12 different investors participating
• Nearly 55% of the demand generated from existing investors who continue to demonstrate high conviction in Embassy REIT’s industry-leading credit profile
• Annual interest savings of c.70 bps secured with established strategy to capitalize on competitive pricing
• Both CRISIL and CARE have assigned “AAA/Stable” rating to the NCDs issued

Talwar Thakore & Associates served as the legal counsel to Embassy REIT.

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