VMPL
Pune (Maharashtra) [India], March 26: Gera Developments Private Limited (GDPL), pioneers of real estate business, and the award-winning creators of premium residential and commercial projects in Pune, Goa and Bengaluru, and California (USA) has received an Outlook upgrade from 'Stable' to 'Positive' and a reaffirmation of 'AA-' for their Long Term Credit Rating for its Long-Term Bank facilities and Listed Non-Convertible Debentures (NCDs). Additionally, the company's Short Term Ratings have been reaffirmed at CARE A1+.
The upgrade in the outlook along with the reaffirmation of Gera Developments' AA- credit rating underscores the Company's robust financial position, operational excellence and disciplined execution strategy. Prudent financial management has ensured a healthy gross debt-to-collections ratio, expected to improve further, reinforcing the company's financial resilience.
Commenting on the ratings, Mr. Rohit Gera, Managing Director, Gera Developments Private Limited, said, "We are pleased with the outlook upgrade from Stable to Positive and the reaffirmation of the 'AA-' rating. This is an outcome of our very disciplined fiscal approach reflects our consistent financial performance and long-term vision. Being the only private Real Estate developer in India having AA- consistently for last 3 years signals Gera's strategic approach and resilience and commitment to excellence"
Gera Developments continues to be the only private Real Estate developer in India to achieve this rating.
Gera Developments is well-positioned for sustained growth. The company is actively developing 63.60 lakh square feet across seven projects, with multiple new launches planned for 2025. As of November 30, 2024, over 60% of the total revenue potential of its ongoing projects has already been booked, reflecting strong market demand and execution capabilities.
Gera Developments has demonstrated significant sales momentum, recording a 75% year-over-year increase in FY24 and securing Rs884.55 crore in bookings in the first eight months of FY25 alone. A strong pre-sales performance, coupled with a robust pipeline, enhances cash flow visibility, and further strengthens the company's market position.
Backed by an experienced management team and a distinguished advisory board, Gera Developments remains committed for innovation, excellence, and transparency in governance, customer-centricity, and sound development practices, ensuring long-term stability and sustainable growth.
From AI-driven process optimisations to a dedicated construction management platform that ensures real-time project tracking, Gera Developments continues to strengthen its operational capabilities. The GeraWorld® App for customers further simplifies the home-buying experience by providing real-time access to project updates and documentation. Additionally, Gera Developments' innovation lab fosters continuous innovation, driving solutions that enhance project delivery and customer experience.
With a strong foundation built on excellence, innovation, and sustainability, Gera Developments remains well-positioned for sustained growth - key factors reflected in its reaffirmed credit rating with positive outlook.
About Gera Developments Private Limited:
Gera Developments Private Limited (GDPL), a reputed brand for over 50 years, is one of the pioneers of the Real Estate business in Pune. Recognised as the creators of premium residential and commercial projects in Pune, Goa and Bengaluru, the brand has established a global presence through developments in California, USA. GDPL prides itself on providing long-term value to customers, by having a distinct customer-first approach. The philosophy at Gera of "Let's Outdo" rests on the trinity of Innovation, Transparency, and Enhanced Customer Experience. It is at the heart of Gera's effort to infuse innovation and transparency in Real Estate and home building, with an unwavering focus on meeting the shifting lifestyle dynamics of their customers, while upholding the premium living experience. Accordingly, there are many 'firsts' that stand to Gera's credit.
The company introduced a 5-Year Warranty on Real Estate, consisting of Preventive Maintenance & Repairs, and provision of insurance on buildings way back in 2004 for the first time in India. RERA mandated the same only in 2017. Gera also introduced India's first and only 7-year warranty in Real Estate. They have designed and launched a pathbreaking concept, the award-winning ChildCentric® Homes, which revolutionised the Real Estate sector for both, the developer and the home buyer. Other revolutionary and highly successful product lines have been IntelliplexesTM, SkyVillasTM, and The Imperium series. In their 50th year, the company launched yet another first-of-its-kind industry initiative--Gera's Home Equity Power--by providing financial flexibility to customers to withdraw funds from their prior payments to meet financial emergencies.
These products are matched by the services of the GeraWorld® Mobile App, which brings speed, convenience, and transparency to the buyer, enhancing customer experience. Gera has also launched the Club Outdo initiative, a tech-driven loyalty and referral program that provides multiple benefits, offers, and community engagement opportunities to existing and new customers.
The company emphasises delivering value-added experiences to customers, with projects designed around the evolving needs of their customers. Driven by trust, quality, a customer-first mindset, and innovation, the brand has won several national and international awards on both, the product and service fronts.
Gera continues to be ranked amongst the Top 50 Great Mid-Size WorkplacesTM 2024 in India by the Great Place to Work® (GPTW) Institute for seven years in a row. This year, we have also been proudly recognised as one of India's Best WorkplacesTM in Real Estate Industry and India's Best WorkplacesTM in Building a Culture of Innovation for All.
Gera envisions raising the standards of Real Estate in India. As we redefine new standards of service orientation, product innovation, real estate marketing, and brand building, we are consistently generating fresh value for its stakeholders, while setting new benchmarks for the industry.
Please visit www.gera.in for more information
For further media queries, please contact:
Sonia Kulkarni, Hunk Golden and Media
Mobile: 9820184099 | Email: sonia.kulkarni@hunkgolden.in
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
