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Fitch Ratings has upgraded Ansal Housing and Construction Ltd’s long-term rating. The outlook is ‘stable’.
The upgrade reflects regular servicing of term loans by the company over the last six months, the rating agency said.
The ratings continue to draw comfort from Ansal Housing’s over two-decade experience in the domestic real estate business where it has executed projects totalling over 69.5 million sq.ft.
Fitch also noted that there are limited construction-related risks in the company’s ongoing projects as a majority of the land under development (around 55 per cent) would be sold as plots.
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