Key Metrics of Crest Ventures Limited
About Crest Ventures Limited
Company details
- Registered office
- 111, 11th Floor, Maker Chambers Iv, Nariman Point, Mumbai, In-mh, 400021
- Listed
- NSE: CREST · ₹347.30
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 11 Dec 2025 | CARE | Reaffirmed | BBB | — | Stable | ₹200 Cr | View |
| 07 Apr 2025 | CARE | Reaffirmed | BBB | — | Stable | ₹100 Cr | View |
| 07 Jun 2024 | CARE | Reaffirmed | BBB | — | Stable | ₹200 Cr | View |
| 20 Feb 2024 | CARE | Reaffirmed | BBB | — | Stable | ₹100 Cr | View |
| 21 Feb 2023 | CARE | Assigned (from BB+) | BBB | — | Stable | ₹100 Cr | View |
| 26 Dec 2022 | CARE | Other | — | — | — | — | View |
| 22 Nov 2021 | CARE | Revised (from BBB) | BB+ | — | Stable | — | View |
| 08 Apr 2021 | CARE | Revised | BBB- | — | Negative | — | View |
| 30 Mar 2020 | CARE | Reaffirmed | BBB | — | Stable | — | View |
| 11 Apr 2019 | CARE | Assigned | BBB | — | Stable | — | View |
Credit strengths (CARE, Dec 2025)
+ Long operational track record and experience of promoters and management team
Incorporated in 1982 as Sharyans Resources Limited, CVL made its initial public offering (IPO) in 1983 on the Calcutta Stock Exchange. The company was registered as an non -banking finance company (NBFC) with the Reserve Bank of India ( RBI) in 2007 and subsequently renamed ‘Crest Ventures Limited’ in 2014. CVL is currently listed on BSE and NSE. Its core activities include lending and investments, primarily in real estate projects and the financial services sector. The company also holds certai
+ Adequate capitalisation levels and low gearing levels
CVL maintains adequate capitalisation levels with the total capital adequacy ratio (CAR) at 75.39% and Tier-1 CAR at 73.81% as on March 31, 2025 compared to total CAR of 86.54% and Tier-I CAR to 84.60% as on March 31, 2024, well above the regulatory requirement. The adjusted overall gearing (after factoring group ICDs and investments) stood at 0.25x as on March 31, 2025 compared to 0.27x as on March 31, 2024. As on September 30, 2025, the company’s TNW stood at ₹1,136 crore, with total debt
+ Investments in group companies and lending through ICDs
CVL is a systemically important non -deposit-taking NBFC (NBFC-ND-SI), now classified under the Middle Layer and registered with the Reserve Bank of India (RBI) as an Investment and Credit Company (ICC). As an ICC, CVL invests primarily in real estate and financial services sectors through special purpose vehicles (SPVs) and joint ventures, while also extending loans largely to group companies for real estate projects.
+ Moderate profitability, expected to improve with growth in real estate projects
CVL’s primary income sources include interest income from its lending book largely ICDs and profits from sale of investment and revenue from real estate property sales. In FY25, the company reported a profit after tax (PAT) of ₹79 crore on total income of ₹164 crore, compared to ₹50 crore on ₹140 crore in FY24. The increase in PAT was driven by “gain on fair value changes” following the reclassification of investments in TBOF Foods Private Limited from associate to investment. Losses from LLP
Credit challenges
− Moderate resource profile
The company’s borrowing profile comprises non -convertible debentures (NCD) and loans from banks and financial institutions. The company has raised the NCD in FY24 and funds from NBFCs, diversifying resource base which was earlier concentrated with only two lenders. CVL also resorts to short -term borrowings through unsecured ICDs from corporates for shorter tenure. Currently, due to the shorter nature of the lending book, the company does not require higher funding, thus borrowings are
− Industry risk owing to high exposure to real estate segment
CVL has significant exposure to the real estate sector, both through projects on its own balance sheet and investments via equity, debentures, and ICDs. The sector’s performance is closely linked to macroeconomic conditions, interest rates, and consumer disposable income. Liquidity for real estate companies depends heavily on property market dynamics, which are inherently volati le, creating repayment risk for ICD . While CVL maintains a track record of asset quality by lending primarily to enti
Could lead to an upgrade
Factors that could individually or collectively lead to positive rating action/upgrade: • Sustained improvement in profitability with return on total assets (ROTA) of 2.50% on a standalone basis. • Improvement in constitution of loan book with significant diversification towards non -real estate segment. • Diversification of resource profile with reduced reliance on short -term ICD.
Could lead to a downgrade
Factors that could individually or collectively lead to negative rating action/downgrade: • Deterioration in profitability and income profile. • Delays in construction or sale of real estate project in portfolio impacting the company’s
Agency-reported financials (CARE, 11 Dec 2025)
| Metric | H1FY26 |
|---|---|
| Total income | ₹70.00 Cr |
| Profit after Tax (PAT) | ₹25.00 Cr |
| Assets under management (AUM) | ₹441 Cr |
| On-book gearing (x) | 0.17× |
| AUM / tangible net-worth (TNW) (x) | ₹0.39 Cr |
| Gross non-performing assets (NPA) / gross stage 3 (%) NIL NIL NIL | 3.0% |
| Return on managed assets (ROMA) (%) | 3.8% |
| Capital adequacy ratio (CAR) (%) | 71.6% |
| PAT margin | 35.7% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Issuer | Other | — | ₹0 | — | BBB (Stable) | Reaffirmed | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹100 Cr | — | BBB (Stable) | Assigned | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹100 Cr | — | BBB (Stable) | Reaffirmed | CARE |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE559D08024 | Jun Dec | Debentures & bonds | — | — | — | ₹100 Cr | BBB | Not stated |
| INE559D08016 | non convertible Mar Jun | Debentures & bonds | — | — | — | ₹0 | — | Withdrawn |
CARE ratings on record (checked 22 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Issuer Ratings | — | CARE BBB; Stable |
| Non Convertible Debentures | — | Withdrawn |
| Non Convertible Debentures | ₹200 Cr | CARE BBB; Stable |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 58% |
| Information on file | 67% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 58% chance the next rating action is stable or better
- Current rating BBB (investment grade)
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.