Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has withdrawn its long-term rating on Rs. 96.30 Cr. bank facilities of Classical Paradise Hotels And Resort Limited without assigning any rating as the instrument is fully repaid. The rating is being withdrawn on account of request received from the issuer and No Dues Certificate (NDC) received from the respective lender.
Acuite has withdrawn its long-term rating on the Rs. 2.70 Cr. without assigning any rating as it is a proposed long term bank facility of Classical Paradise Hotels And Resort Limited. The rating has been withdrawn on account of the request received from the issuer.
The rating withdrawal is in accordance with Acuité's policy on withdrawal of rating as applicable to the respective facility / instrument.
Acuite has received latest information from the issuer along with latest No Default Statement.
About the Company
Incorporated in 2007, Classical Paradise Hotels and Resort Limited (CPHRL) is a hospitality development project located at Pangthang, Sikkim. The management control of the company is with Ambuja-Neotia Group. The project is spread across a land parcel admeasuring 15 acres and out of which the first phase of development is a luxury resort comprising 72 room keys along with other facilities. The present development is spread across a total land area of 4 acres and is christened as “Taj Guras Kutir”. CPHRL has entered into a hotel operating agreement with The Indian Hotels Company Limited (IHCL) for the management of the luxury resort under the brand “Taj”. The property became operational timely. The directors of the company are Chandra Prakash Kakarania, Shamik Das, Vijay Shankar Dwivedi and Prosenjit De.
Analytical Approach
Not Applicable
Key Rating Drivers
Strengths
Not Applicable
Weaknesses
Not Applicable
Rating Sensitivities
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
Not Applicable
Outlook
Not Applicable
Other Factors affecting Rating
None
Particulars
Unit
FY 26 (Actual)
FY 25 (Actual)
Operating Income
Rs. Cr.
23.06
24.38
PAT
Rs. Cr.
(20.46)
(21.63)
PAT Margin
(%)
(88.73)
(88.73)
Total Debt/Tangible Net Worth
Times
5.10
(120.23)
PBDIT/Interest
Times
0.15
0.13
Status of non-cooperation with previous CRA (if applicable)
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Contacts
List of instruments and names of regulators of the instruments
