The company stated that the credit rating for fresh proposed NCD programme of Rs 2,000 crore by ICRA has been assigned at “[ICRA] AA+”. Outlook on the long-term rating is "Stable".

Credit Rating for fresh proposed NCD programmes of Rs 2,500 crore by India Ratings and Research was assigned at “IND AA+/Stable”.

The company further announced that the long-term rating for existing bank facilities of Rs 4,500 crore was reaffirmed at “[ICRA] AA+ / [ICRA] A1+” and existing NCD of Rs 3,000 crore was assigned “[ICRA] AA+”. Outlook on the long-term rating is "Stable".

Godrej Properties also informed that the short-term rating for the existing commercial paper (CP) programme of Rs 2,000 crore was reaffirmed at “[ICRA] A1+”.

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 30 June 2023. The company currently operates in various cities and focuses on residential, commercial, and township development.

The company reported consolidated net profit of Rs 124.94 crore in Q1 FY24, steeply higher than Rs 45.55 crore in Q1 FY23. Revenue from operations zoomed to Rs 936.09 crore in June 2023 quarter from Rs 244.67 crore in the quarter ended 30 June 2022.