Bangalore, India, Thursday - May 24, 2012 -- The Prestige Group ( http://www.prestigeconstructions.com ) 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 Indias 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 developers 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 Developers Ability to execute projects, as suggested by his track record.
Symbol: DA1
Interpretation: EXCELLENT
Definition: The developers 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 developers 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 developers 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 developers 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 developers ability to execute real estate projects as per specified quality levels within the stipulated time schedule, and to transfer clean title, is poor.
Press Media Contact:
Urmila Biswas / Lakshman Babu
Ogilvy Public Relations Worldwide
Bangalore, India
Ph: 98860 99736 / 98457 06155
urmila.biswas@ogilvy.com
http://www.prestigeconstructions.com
