Press Release

Press Release

March 31, 2026

PHOENIX FINANCIAL DISTRICT PRIVATE LIMITED
Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	400.00	Not Applicable \| Withdrawn	-
Total Outstanding	0.00	-	-
Total Withdrawn	400.00	-	-

Rating Rationale

Acuite has withdrawn its long-term on Rs.400 Cr. of bank facilities without assigning any rating as the instrument is fully repaid for Phoenix Financial District Private Limited (PFDPL).
The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility / instrument. The rating is being withdrawn on account of request received from the Company and No Dues Certificate received from the banker.

About the Company

Incorporated in 2018, Phoenix Financial District Private Limited (PFDPL) is a Hyderabad based company, engaged primarily in the construction & real estate development. Mr. Gopi Krishna Patibanda & Mr. Avinash Chukkapalli are the directors of the company. PFDPL has recently carried out office space development under Project 285 Financial District, Hyderabad of Tower 1 with a total leasable area of ~1.30 million Sqft. Tower 1 is constructed at a total cost of about Rs.607.00 Cr. Part of Phoenix Group, Phoenix Financial District Private Limited (PFDPL) is wholly owned by Phoenix Spaces Private Limited (PSPL) which is a 100% subsidiary of Phoenix Infratech (India) Private Limited.

Unsupported Rating

Not Applicable

Analytical Approach

Not Applicable

Key Rating Drivers

Strengths

Not Applicable

Weaknesses

Not Applicable

ESG Factors Relevant for Rating

FDPL corporate governance philosophy is built on a legacy of fairness and transparency, aiming to enhance long-term shareholder value while upholding integrity and regulatory compliance.
Phoenix Foundation, in collaboration with the Telangana Forest Department, is establishing a 500-acre eco-forest in Moinabad. This project aims to plant a variety of trees to attract wildlife and birds, serve as a carbon sink to reduce pollution, and include walkways for visitors to enjoy the natural environment.
Misaal Hyderabad is a unique social welfare initiative that uses community art to enhance mental and physical health among slum dwellers. Through sanitation and cleanliness drives, it raises awareness about social improvement indicators. Key initiatives include art camps, balwadis and learning centres, and women empowerment & skill training camps. These efforts align with ESG criteria by addressing health, education, and gender equality, positively impacting the community and supporting sustainable development.

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

Key Financials

Particulars	Unit	FY 25 (Actual)	FY 24 (Actual)
Operating Income	Rs. Cr.	29.84	0.00
PAT	Rs. Cr.	4.43	(0.04)
PAT Margin	(%)	14.84	0.00
Total Debt/Tangible Net Worth	Times	83.90	2.50
PBDIT/Interest	Times	7.58	0.96

Status of non-cooperation with previous CRA (if applicable)

Not Applicable

Any other information

None

Applicable Criteria

• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm
• Real Estate Entities: https://www.acuite.in/view-rating-criteria-63.htm
• Lease Rental Discounting : https://www.acuite.in/view-rating-criteria-106.htm

Note on complexity levels of the rated instrument

In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.

Rating History

Date	Name of Instruments/Facilities	Term	Amount (Rs. Cr)	Rating/Outlook
09 Jan 2025	Lease Rental Discounting	Long Term	300.00	ACUITE BBB- \| Stable (Reaffirmed)
09 Jan 2025	Term Loan	Long Term	100.00	ACUITE BBB- \| Stable (Assigned)
03 Dec 2024	Lease Rental Discounting	Long Term	300.00	ACUITE BBB- \| Stable (Assigned)
23 Apr 2024	Term Loan	Long Term	225.00	ACUITE Not Applicable (Withdrawn)
	Term Loan	Long Term	50.00	ACUITE Not Applicable (Withdrawn)
	Term Loan	Long Term	40.00	ACUITE Not Applicable (Withdrawn)
	Term Loan	Long Term	110.00	ACUITE Not Applicable (Withdrawn)
26 Jun 2023	Term Loan	Long Term	225.00	ACUITE BBB \| Stable (Reaffirmed)
	Term Loan	Long Term	50.00	ACUITE BBB \| Stable (Reaffirmed)
	Term Loan	Long Term	40.00	ACUITE BBB \| Stable (Reaffirmed)
	Term Loan	Long Term	110.00	ACUITE BBB \| Stable (Reaffirmed)

Annexure - Details of instruments rated

Lender’s Name	ISIN	Facilities	Date Of Issuance	Coupon Rate	Maturity Date	Quantum (Rs. Cr.)	Complexity Level	Rating
State Bank of India	Not avl. / Not appl.	Lease Rental Discounting	Not avl. / Not appl.	Not avl. / Not appl.	28 Feb 2039	300.00	Simple	ACUITE Not Applicable \| Withdrawn
Federal Bank Limited	Not avl. / Not appl.	Term Loan	Not avl. / Not appl.	Not avl. / Not appl.	26 Mar 2026	100.00	Simple	ACUITE Not Applicable \| Withdrawn

Contacts

Mohit Jain
Chief Analytical Officer - Rating Operations

Akshat Shah
Associate Analyst - Rating Operations

Contact details exclusively for investors and lenders

Mob: +91 8591310146
Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai.

Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.

Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.