Arvind SmartSpaces Limited (ARVSMART) — Announcement

📢 Key Event
India Ratings upgrades Arvind SmartSpaces Limited's issuer rating to IND AA- with Stable outlook and assigns ratings to proposed debt instruments.

🔄 What Changed
Issuer rating upgraded from IND A+ to IND AA-; proposed NCDs and bank loans assigned IND AA-/Stable; existing bank facilities upgraded to IND AA-/Stable.

💡 Investor Takeaway
The upgrade signals stronger creditworthiness and financial stability, enhancing investor confidence in the company's debt repayment capacity and long-term growth prospects.

⚠️ Risks
Moderate geographic and project concentration poses ongoing risk to credit profile.

India Ratings upgraded Arvind SmartSpaces Limited's issuer rating to IND AA- with a Stable outlook, assigning ratings to INR 3,000 million non-convertible debentures and INR 3,500 million proposed bank loans effective June 24, 2026, reflecting improved operational performance, strong credit metrics, and promoter linkages, supported by robust FY26 pre-sales of INR 15,500 million and collections of INR 10,990 million, while maintaining adequate liquidity with INR 2,476 million cash and plans to repay debt within INR 7,000-8,000 million annual requirements, marking a positive shift in credit quality and financial resilience for shareholders.

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