Kolte-Patil Developers Ltd — Capital/Financing Update 2022

Mar 22, 2022

Page 01 of 04

To. The Assistant Manager, National Stock Exchange of India Limited Listing Department, 'Exchange Plaza', Bandra Kurla Complex. Bandra (East). Mumbai - 400051

To. The General Manager, BSE Limited. Corporate Relationship Department. 1st floor, Phiroze Jeejeebhoy Towers, Dalal Street. Mumbai - 400001

22 March 2022

Sub: Intimation of Credit rating pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ref: NSE Symbol and Series: KOLTEPATIL and EQ BSE Code and Scrip Code: 9624 and 532924

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the ICRA (the rating agency) vide its letter dated 21 March 2022 has rated the bank loan facilities of the Company as follows:

Facilities	Amount in INR	Long term Rating
Bank loan facilities	Rs. 473 Crores	$[ICRA]A+$

This is for your information and record.

Thanking you,

For Kolte-Patil Developers Limited

Vinod Patil Company Secretary and Compliance Officer Membership No. A13258

KOLTE-PATIL DEVELOPERS LTD.

CIN: L45200PN1991PLC129428

Pune Regd Off : 2nd Floor, City Point, Dhole Patil Road, Pune - 411 001. Maharashtra, India Tel.: +91 20 6622 6500 Fax : +91 20 6622 6511 Bangalore Off: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore - 560042. India Tel.: 80 - 4662 4444 / 2224 3135 / 2224 2803 Web: www.koltepatil.com

Po3. oL of ⁰⁴

ICRA ICRA Limited

CONFIDENTIAL

Ref: ICRA/ Kolte-Patil Developers Limited /21032022/l

Date: March 21, 2022

lIIr. Rahul Talele CEO Kolte-Patil Developers Limited 2nd Floor, City Point, Dhole Patil Road. Pune- 4l 1001, Maharashtra

Dear Sir,

Re: ICRA-assigned Credit Rating for Rs. 473.0-crore Bank Facilities of Kolte-Patil Developers Limited

Please refer to your Rating Agreement/Statement of Work dated November 19, 2021 requesting ICRA Limited ("[CRA") to assign Rating to the bank lines ofRs. 473.0-crore (instrument details enciosetl rn Annexure-A).

The Rating committee of ICRA. aftcr due considcration, has assigned a long-term rating of IlcRA]A+ (pronounced ICRA A plus) to the captioned bank facility/ ("Rating"). The outlook on the long-rerm rating is Positiv€. This Rating indicates adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

In any of your publicity material or othcr documcnt wherevcr you are using the above Rating, it should bc stated as UCRAI A+ (positive).

The aforesaid Rating(s) will bc due for survcillance any rime bcfore March 10,2023. However, ICRA rcserves thc right to review anrvor, revise the above Rating(s) at any time on thc basis of ncw information becoming available, or the requircd information not being available, or other circumstanccs that ICRA belicves could have an impact on the Rating(s). Therefore, rcquest thc lenders and lnvestors to visit ]cRA website at',vu*.ic*.ir for latest Rating(s) of the company.

The Rating(s) are specific to the terms and conditions of the bank facilities as indicated to us by you, and any change in the terms or size ofthe same would require a review ofthe Rating(s) by us. ln case there is any change in the terms and conditions or the size of the rated bank facilitiis, thi same must bc brought to our notice before the bank facilities is used by you. ln the event such changes occur after the Rating(s) have been assigned by us and.their use has been confirmed by .you; the -Ratinglsl would be subject to our review, following which thcrc could bc a changc in the iating(s) previously assigned. Notwithstanding the fbregoing, any increase in the over-all limit of the bank iacliities Irom that specified in the first paragraph of this letter would constitute an enhancement that would not be covered by or under the said Rating Agreement.

Thc Millonia. Tower,B. Unit No.l00l l{)th Floor, I & ? I\turphJ- R0:rd. Uls(x)r. Beng?rluru 560008

Tcl.: +91 80.1:];]!6400 CIr.. : Lt.l9999DLt 991 PLC0-12t49 lVebsite: rvwrs.icra.in Em:Li1: inlira icraindia trxr Helpdeskr +91 93-l73sgof)

Rt'gistered Oilice: B 710. Slatcsm:rD Hou-!(r. LllJ. llanrkhlnrb,r Road. Nrwl)elhi |()00t.Tet.:+9l.lt.2jl3i?9t0,1;

RATING RESEAR C ^H INFORMATION

The Rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be heated, as recommendation to buy, sell, or hold the rated [Instrument] availed,/issued by your company,

The Rating(s) assigned to the bank facitities of your Company shall require revalidation if there is any change in the size ofthe rated bank facilities.

You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instrumenGl'bonowing and keep us informed of any other developments which may have a direct or indirect impact oi the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment progammes of the dues/ debts ofthe company with any lender(s) / investoils;. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded.

We look forward to your communication and assure you of our best services.

Yours sincerely, for ICRA Limited

MATHEW oo.ry'r^.a KURIAN rinrr:rrlrrt ERANAT Hffi#

Mathew Eranat Vice hesident

mathew.eranat(4icraindia.com

The Millenia, Tower-B. Unit No.1004 10th noor, I & 2 Murphy Road, Ulsoor, Bengaluru - 560008

Tel,: +91.80.,13326400 CIN : L749999DL1991 PLC042?49

Website: www.icra.in Email: bf€ieraindia.coo Helpdesk: +91 935{?38g0g

Registered ofhce: B-710, statesman House. 148. Barakhamba Road. New Delhi r10oo1.Tel. :+91.11.281i2940-.15

RATING RESEARCH INFORMATION

Appendit -A

Instrument Details

Details of Instrument Reted by	Amount (Rs,	Rating	Rating Assigned on
ICRA (Rated on Long-term Scale)	crore)
Term Loan
Bajaj Finance Ltd.	78.0	IICRA]A+(Positive)	March 11,2022
PNB Housing Finance Limited	47.0	ICRA]A+(Positive)	March 11,2022
Axis Bank Limited	27.0	ICRA]A+(Positive)	March 11,2022
Kotak Mahindra Investments Ltd.	44.0	IICRA]A+(Positive)	March ll,2O22
Overdraft
Axis Bank Limited	I15.0	IICRA]A+(Positive)	March 11.2022
Proposed Term Loans	162.0	ItCRA]A+(Positive)	March 11,2022

The Millenin, Tower'ts, Unlt Email: infot?icraindia com ir;;itf,l";' - , ""rphv Ulsoor, Bengaluru ' 560008

Road, ll'T"n'ot'""'to"'on iirii""*liir gs;r'isee'g

Website: www icra in !: : Tel:+91 ⁸⁰43326400 ^Y

Registered Olfice: 8-710, Statesman tlouse' l48 Baraklamba Road New Delhi 11000l Tel :+91 1I2335?9'r0-'ls

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