The Prestige Group has emerged as the only developer in India to receive the
coveted ‘Crisil DA1 Excellent’ rating. While the Crisil DA1rating, which is the
highest form of certification among developers, is sought by all in the sector,
it is only the Prestige Group which has managed to walk away with the
‘Excellent’ rating from them, within India, thus reinforcing their position as
one of the foremost developers in the country today.
Mr. Irfan Razack - CMD, Prestige Group said, "While the Prestige Group has
always attempted to create benchmarks and raise the bar through their
innovation, creativity and determination to provide international standards of
quality and design in their various developments, a certification of the
highest level from an authority such as Crisil will surely reinforce the faith
that thousands of loyal Prestige patrons have in the company."
About Crisil Real Estate Developer Ratings:
CRISIL is India’s largest credit rating agency and is today the undisputed
business leader, with the largest number of rated entities and rating products.
Crisil Real Estate Developer Ratings are opinions based on a developer’s past
track record in executing real estate projects and are indicative of their
ability to do so in future. Factors such as legal & construction track
record of the developer; organizational systems, structure & processes;
financial profile; are assessed while assigning the rating. Developers with
higher ratings will have properties that are legally sound and that are
completed and delivered on schedule.
Rating scale and definition:
The rating symbols of the real estate developers’ rating use the letter ‘DA’,
indicating the Developer’s Ability to execute projects, as suggested by his
track record.
Symbol: DA1
Interpretation: EXCELLENT
Definition: The developer’s ability to execute real estate projects as per
specified quality levels within the stipulated time schedule, and to transfer
clean title, is excellent.
Symbol: DA2
Interpretation: VERY GOOD
Definition: The developer’s ability to execute real estate projects as per
specified quality levels within the stipulated time schedule, and to transfer clean
title, is very good.
Symbol: DA3
Interpretation: GOOD
Definition: The developer’s ability to execute real estate projects as per
specified quality levels within the stipulated time schedule, and to transfer
clean title, is good.
Symbol: DA4
Interpretation: BELOW AVERAGE
Definition: The developer’s ability to execute real estate projects as per
specified quality levels within the stipulated time schedule, and to transfer
clean title, is below average.
Symbol: DA5
Interpretation: POOR
Definition: The developer’s ability to execute real estate projects as per
specified quality levels within the stipulated time schedule, and to transfer
clean title, is poor.
About Prestige Group:
Synonymous with innovation, the Prestige Group has in recent years expanded its
presence across several cities in South India including Chennai, Kochi,
Mangalore, Mysore, Hyderabad and Goa, apart from Bangalore.
The company already has several successful completed and ongoing projects in
Chennai to its credit, spanning the commercial and retail segments. Prestige
Cyber Towers and Prestige Palladium are two recently completed commercial
developments, which have received an overwhelming response. Among other
projects, Prestige Polygon, another commercial development, is currently under
construction while the Forum Vijaya Mall, slated to be Chennai’s largest mall,
is also scheduled to be unveiled later this year.
Over the last decade, the Prestige Group ( http://www.prestigeconstructions.com
) has firmly established itself as one of the leading and most successful
developers of real estate in South India by imprinting its indelible mark
across all asset classes. Founded in 1986, the group’s turnover has today
crossed Rs. 1,600 crores. A leap that has been inspired by CMD Irfan Razack and
marshaled by his brothers Rezwan Razack and Noaman Razack. Having completed
more than 161 projects covering over 45.82 million sqft, the group has over
61.33 million sqft of under development & planned projects. In October
2010, the Prestige Group also successfully entered the Capital Market with an
Initial Public Offering of Rs 1,200 crore.
Aggressive growth plans in the residential, commercial, retail, and hospitality
domains will be visible in the skylines of Bangalore, Chennai, Hyderabad,
Cochin, Mangalore, Mysore and Goa in the coming years, giving each city an
unparalleled experience with landmark malls on the lines of The Forum, Large
Townships, Tech Parks, Hotels, Luxury Villas and SEZs.
The Prestige Group is the only developer from Bangalore to receive the reputed
FIABCI award for their software and residential facilities. The Prestige Group
has been on a winning spree for the last two years and has received several
international and national awards for their various developments.
