Press Release

Press Release

August 06, 2026

POULOMI ESTATES PRIVATE LIMITED
Rating Assigned

Product	Quantum (Rs. Cr) (SEBI)	Quantum (Rs. Cr) (Other FSR)	Long Term Rating	Short Term Rating	Regulated By
Bank Loan Ratings	0.00	250.00	ACUITE BBB- \| Stable \| Assigned	-	RBI
Total Outstanding	0.00	250.00	-	-	-
Total Withdrawn	0.00	0.00	-	-	-

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 assigned its long-term rating of ‘ACUITE BBB-’ (read as ACUITE triple B minus) on the Rs. 250.00 Cr. bank loan facilities of Poulomi Estates Private Limited (PEPL). The outlook is 'Stable'.

Rationale for rating assigned:
The assigned rating reflects PEPL's established track record in the Hyderabad real estate market, experienced promoter group and successful execution of residential and commercial projects. The rating draws comfort from the healthy sales absorption of ~62.67% achieved across its ongoing projects, Poulomi Palazzo and Poulomi Infinity, as on May 31, 2026. The rating is further supported by adequate funding visibility through customer collections, the advanced stage of completion of Poulomi Infinity, and the in-principle sanctioned construction finance facility for Poulomi Palazzo. However, the rating is constrained by moderate project execution with ~45.26% of the aggregate project cost yet to be incurred, offtake and funding risk. Further, the company's operations remain susceptible to the inherent cyclicality and demand fluctuations associated with the real estate industry.

About the Company

M/s Poulomi Estates Private Limited (PEPL) is a Hyderabad-based real estate developer incorporated on 16 October 2003, engaged in the development of premium residential, commercial and infrastructure projects. The company has established a strong presence in Hyderabad through the successful execution of luxury villas, high-rise residential apartments and Grade-A commercial developments. PEPL is promoted and managed by the Juvvadi family, led by Mr. Sujit Rao Juvvadi, Mrs. Sujatha Juvvadi and Mr. Chandra Shekar Rao Juvvadi, who possess over two decades of experience in the real estate and construction industry. The company is currently developing Poulomi Palazzo and Poulomi Infinity in Kokapet, Hyderabad, while also having a future development pipeline through the Poulomi Florique residential project in Bengaluru.

Unsupported Rating

Not applicable

Analytical Approach

For arriving at the rating, Acuite has considered the standalone credit profile of Poulomi Estates Private Limited (PEPL).

Key Rating Drivers

Strengths

Established track record of operations
PEPL is a Hyderabad-based real estate developer incorporated on 16 October 2003, with over two decades of experience in developing premium residential and commercial real estate projects. The company has established a strong track record through the development of luxury villas, ultra-luxury residential apartments and Grade-A commercial developments across Hyderabad. PEPL has successfully completed projects aggregating approximately 16.90 lakh sq. ft. and is currently developing Poulomi Palazzo, an ultra-luxury residential project, and Poulomi Infinity, a Grade-A commercial development, with an aggregate developer saleable area of 17.44 lakh sq. ft. Supported by its experienced promoter group and established execution capabilities, the company continues to strengthen its presence in Hyderabad's premium real estate market.

Locational advantage of the project
Poulomi Palazzo and Poulomi Infinity are strategically located at Kokapet, Hyderabad, one of the city's premier residential and commercial micro-markets, with close proximity to the Financial District, Gachibowli and HITEC City. The projects benefit from strong connectivity through the Outer Ring Road (ORR), established social infrastructure and sustained demand from IT/ITeS professionals and corporate occupiers. Further, the Kokapet micro-market has witnessed significant residential and commercial development in recent years, supporting the projects' long-term sales and monetisation prospects.

Weaknesses

Moderate project execution, funding and offtake risk
PEPL's project execution risk is assessed as moderate, with its two ongoing projects aggregating a project cost of ~Rs.1,198 crore, of which ~54.74% has been incurred as on May 31, 2026. While Poulomi Infinity is at an advanced stage of completion (~80.52%), Poulomi Palazzo remains under active execution with ~42.47% completion. Execution risk is partly mitigated by PEPL's established track record of delivering ~16.9 lakh sq. ft. of residential and commercial developments and the in-principle sanctioned construction finance facility of Rs.250 crore for Poulomi Palazzo. Funding and offtake risks are also moderate, with sales achieved for ~62.67% of the aggregate saleable area. Against total expected realizations of ~Rs.1,568.53 crore, collections stand at ~Rs.514.09 crore (32.78%), while ~67.22% remains to be realised through receivables of ~Rs.298.97 crore and monetisation of the balance unsold inventory valued at ~Rs.755.9 crore. Acuité notes that timely monetization of the balance inventory, realization of customer receivables, and conversion of the proposed construction finance facility into actual drawdowns will remain key monitorables for supporting project completion, liquidity, and debt servicing.

Susceptibility to Real Estate Cyclicality and Regulatory Risks
The real estate industry in India is highly fragmented with most of the real estate developers, having a city specific or region-specific presence. The risks associated with real estate industry are cyclical in nature and directly linked to drop in property prices and interest rate risks, which could affect the operations. Given the high level of financial leverage, the high cost of borrowing prevents the real estate's developers' from significantly reducing prices to boost sales growth. Moreover, the industry is also exposed to certain regulatory risks linked to stamp duty and registration tax directly impacting the demand and thus the operating growth of real estate players.

Rating Sensitivities

Potential triggers (individual or collective) for an upward rating action:

Sustained improvement in sales velocity, resulting in overall project sales exceeding 75%-80% of the aggregate saleable area over the next 12-18 months, along with faster monetisation of the balance unsold inventory and reduction in receivables.
Improvement in collections and liquidity profile, resulting in reduction of receivables and strengthening of project cash flows

Potential triggers (individual or collective) for a downward rating action:

Delays in project execution or weaker demand environment
Weakening in debt servicing metrics, with DSCR falling below ~1.9x

Liquidity Position

Adequate

The liquidity profile of Poulomi Estates Private Limited (PEPL) is adequate, supported by customer collections of Rs.514.09 crore, promoter contribution of Rs.125.85 crore, and receivables of Rs.298.91 crore from sold inventory as on May 31, 2026. The ongoing projects also have an estimated realization potential of ~Rs.755.53 crore from the balance unsold inventory of 6.51 lakh sq. ft. Further, against the aggregate sanctioned project debt of Rs.325 crore, only Rs.75 crore has been drawn, leaving an undrawn funding headroom of Rs.250 crore available for project execution. PEPL is expected to register cash surplus of Rs 90-150 Cr against the debt obligation of Rs. 35 - 75 Cr in FY27-28. The cash and bank balance stood at Rs. 3.73 Cr as on March 31, 2026. The projected average DSCR of ~1.9x indicates adequate debt servicing capability. Acuite expects the liquidity profile to remain adequate over the medium term, supported by collections from sold inventory, monetisation of balance inventory, availability of undrawn construction finance, and continued promoter support.

Outlook: Stable

Other Factors affecting Rating

None

Key Financials

Particulars	Unit	FY 26 (Provisional)	FY 25 (Actual)
Operating Income	Rs. Cr.	240.68	185.09
PAT	Rs. Cr.	44.22	8.21
PAT Margin	(%)	18.37	4.43
Total Debt/Tangible Net Worth	Times	2.09	3.42
PBDIT/Interest	Times	5.14	1.64

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

None

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

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 :

Not Applicable

Annexure - Details of instruments rated

Lender’s Name	ISIN	Facilities	Listing Status	Regulated By	Date Of Issuance	Coupon Rate	Maturity Date	Quantum (Rs. Cr.)	Complexity Level	Rating
Not Applicable	Not avl. / Not appl.	Proposed Long Term Bank Facility	Unlisted	RBI	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	250.00	Simple	ACUITE BBB- \| Stable \| Assigned

Contacts

Mohit Jain
Chief Analytical Officer - Rating Operations

Dharmavarapu Sai Kiran
Senior Analyst - Rating Operations

Contact details exclusively for investors and lenders

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

List of instruments and names of regulators of the instruments

As required by SEBI Circular (SEBI/HO/DDHS/DDHS-PoD-2/I/4685/2026) dated February 10, 2026, a list of activities or instruments falling under the purview of various Financial Sector Regulators (FSRs), along with the names of respective FSRs, is being disclosed below:
A. Rating Activity:

Sr. No.	Instrument / activity Name	Regulator of the instrument
1	Listed/Proposed to be listed Bonds/Debentures/Preference Shares (all securities)	SEBI
2	Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities)	MCA
3	Listed PTCs / Securitisation Notes (originated by entities regulated by RBI)¹	SEBI
4	Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI)¹	SEBI
5	Unlisted PTCs / Securitisation Notes (originated by entities regulated by RBI)¹	RBI
6	Listed Commercial Paper and NCDs with original maturity less than 1 year	RBI
7	Unlisted Commercial Paper and NCDs with original maturity less than 1 year	RBI
8	Loan Facilities (Fund/Non-Fund Based) from Bank / NBFCs/ NHB/ FIs ²	RBI
9	External Commercial Borrowings and other similar borrowings	RBI
10	Certificates of Deposit	RBI
11	Fixed Deposits raised by NBFCs, Banks, HFCs, FIs	RBI
12	Fixed Deposits raised by corporates other than NBFCs, Banks, HFCs, FIs	MCA
13	Inter Corporate Deposits/Loans extended by Corporates	MCA
14	Borrowing programme ³	-
15	Issuer Ratings ⁴	-
16	Credit Ratings for Capital Protection Oriented Schemes (by Mutal Funds and AIFs)	SEBI
17	Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs	SEBI
18	Listed Security Receipts	SEBI
19	Unlisted Security Receipts	RBI
20	Independent Credit Evaluation (ICE)	RBI
21	Expected Loss Ratings (For Loan Facilities [Fund/Non-Fund based] from Banks/NBFCs/NHB/FIs)	RBI
22	Expected Loss Ratings (Listed / Proposed to be listed Bonds / Debentures / Preference Shares (all securities))	SEBI
23	Expected Loss Ratings (Unlisted / Proposed to be unlisted Bonds/ Debentures / Preference Shares (all securities))	MCA
24	Unlisted PTCs / Securitisation Notes (originated by entities not regulated by RBI) ¹	Investor-side Regulator such as IRDAI, PFRDA ⁵

¹Includes securitisation transactions involving assignee payout, acquirer's payout.

² Includes bank facilities such as liquidity facility, second loss facility that are part of securitisation transactions.
³The rated instrument may involve issuance of different instruments such as debt securities (listed or otherwise), bank loans, commercial paper (listed or otherwise), etc. The regulator of the instrument may accordingly be SEBI, RBI or MCA and can only be determined upon issuance. In Press Release(s) subsequent to issuance(s), Acuite shall separately capture the rated quantum details along with names of respective regulators.
⁴ There is no instrument being rated and hence, Regulator of the Instrument is not applicable. The rating scale and definitions are being followed as stipulated in SEBI Master Circular for CRAs.
⁵ These ratings were assigned during regulatory regime prior to the introduction of SEBI CRA Circular dated Feb 10, 2026 and accordingly, investor side regulators have been included.

B. Other activities:

Sr. No.	Activity Name	Regulator of the activity
1	Monitoring Agency	SEBI
2	Research activities, incidental to rating, such as research for Economy, Industries and Companies ⁶	Not applicable

⁶ permitted by SEBI vide SEBI Master Circular for CRAs.

Disclosure on instruments / activities and names of regulators:

A list of products/activities or ratings of instruments falling under the purview of various financial sector regulators (FSRs) along with the names of respective FSRs has also been duly disclosed by Acuite on its website. A link to the same has been provided below for ready reference:

https://acuite.in/Activities-and-Regulators.html

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.

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