Gaurs Group redcues its debt by 35% in last three years
Real Estate

Gaurs Group redcues its debt by 35% in last three years

Gaurs Group has reduced its debt by 35% to Rs 1,550 crore in the last three years through improved cash flow from residential projects in Delhi National Capital Region (NCR).

Investment Information and Credit Rating Agency of India (ICRA) has awarded BBB+ with a stable outlook rating to Gaura Group. The company told the media that the up-gradation in the rating has reflected in debt reduction.

Chairman and Managing Director of Gaurs Group, Manoj Gaur, said that the rating is a sign of approval for the greatest security in terms of financial commitments.

He said that the company has delivered around 35,000 property units in the last five years.

Director of Gaurs Group, Sarthak Gaur, said that the company would be launching projects in Noida, Delhi and Ghaziabad, focusing on luxury housing.

Chief Financial officer of Gaurs Group, Vineet Singhal, told the media that the company had reduced debt to about Rs 1,550 crore from Rs 2,400 crore in the last two to three years.

He added that the company has receivables of nearly Rs 2,000 crore from sold properties, while the remaining construction cost is just Rs 400 crore. The company will reduce its debt by Rs 500 crore in nine months, while the outstanding loans are from banks and non-banking financial companies (NBFCs).

The rating takes into account the better-than-expected financial performance of the company, positive revenue growth, increased operating profits and improved profit margins.

Singhal said that the company is to acquire new projects through purchasing land parcels and joint development agreements (JDAs) to expand its business.

It is developing two new township projects in Greater Noida and Yamuna Expressway, Uttar Pradesh.

Image Source

Gaurs Group has reduced its debt by 35% to Rs 1,550 crore in the last three years through improved cash flow from residential projects in Delhi National Capital Region (NCR). Investment Information and Credit Rating Agency of India (ICRA) has awarded BBB+ with a stable outlook rating to Gaura Group. The company told the media that the up-gradation in the rating has reflected in debt reduction. Chairman and Managing Director of Gaurs Group, Manoj Gaur, said that the rating is a sign of approval for the greatest security in terms of financial commitments. He said that the company has delivered around 35,000 property units in the last five years. Director of Gaurs Group, Sarthak Gaur, said that the company would be launching projects in Noida, Delhi and Ghaziabad, focusing on luxury housing. Chief Financial officer of Gaurs Group, Vineet Singhal, told the media that the company had reduced debt to about Rs 1,550 crore from Rs 2,400 crore in the last two to three years. He added that the company has receivables of nearly Rs 2,000 crore from sold properties, while the remaining construction cost is just Rs 400 crore. The company will reduce its debt by Rs 500 crore in nine months, while the outstanding loans are from banks and non-banking financial companies (NBFCs). The rating takes into account the better-than-expected financial performance of the company, positive revenue growth, increased operating profits and improved profit margins. Singhal said that the company is to acquire new projects through purchasing land parcels and joint development agreements (JDAs) to expand its business. It is developing two new township projects in Greater Noida and Yamuna Expressway, Uttar Pradesh. Image Source

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000