Rga Software Parks LLP

Key Metrics of Rga Software Parks LLP

Revenue₹361 Cr▲ 526.0% YoYFY 2025-26

EBITDA₹231 Cr▲ 2,404.0% YoY

Net profit₹160 Cr▲ 2,058.4% YoY

Net worth—

Competitors10identified

About Rga Software Parks LLP

Sectors

IT Services & SoftwareIndian IT Services

Company details

Operational Areas of Rga Software Parks LLP

IT Services & Software›Indian IT Services

Company summary

Entity details

CIN—

LEI code—

State code—

PIN code—

Current legal nameRGA SOFTWARE PARKS LLP

Classification—

Listing status—

Registration no.—

Company age—

PAN—

CountryIndia

City—

StateKarnataka

Current statusACTIVE

Date of incorporation—

Registrar of companies—

Authorised capital—

Paid-up capital—

Employee count—

Compliance

Last AGM date—

Last balance sheet—

Next filing dueMGT-7 for FY 2025-26 · 29 Nov 2026

Industry classification

NIC code—

Description of main activity—

Description of business activity—

SectorIT Services & Software · Indian IT Services

Premium

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 & pricing

Filing compliance

AGM for FY 2025-2630 Sep 2026 Statutory due date passed

AOC-4 for FY 2025-2630 Oct 2026 Statutory due date passed

MGT-7 for FY 2025-2629 Nov 2026 Statutory due date · 27 days left

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

Sign in with access to company financials to review vendor evidence.

Credit ratings

ICRA · 16 Jun 2026 ICRA A+ Stable outlook · Reaffirmed

Change in last 12 months—

Change since first rating on record—since Jun 2026

Rating actions10 up · 0 down

Liquidity (ICRA)Adequate

Rating history

Rating actions

Date	Agency	Action	Long term	Short term	Outlook	Rated amount	Rationale
16 Jun 2026	ICRA	Reaffirmed	A+	—	Stable	₹800 Cr	View

Credit strengths (ICRA, Jun 2026)

+ Established operational profile of RSPL’s assets and a reputed tenant base

The firm’s operational portfolio includes two commercial office space properties – Surya Park (Surya I, II, III, and IV, aggregating 0.84 msf) in Electronic City and and Pritech project (block 5-9, 11, 12 aggregating 2.77 msf) in Bellandur, Outer Ring Road.

+ Favourable location of the projects

The project, Pritech, located at Bellandur, Bengaluru, has a favourable location with proximity to the Outer Ring Road, a key commercial corridor.

+ Comfortable debt protection metrics

The firm had no outstanding debt as of March 31, 2026, however, it plans to raise around Rs. 800 crore during FY2027-FY2028 to fund hotel construction, acquisitions of completed assets and/or land.

Credit challenges

− Exposed to tenant concentration and vacancy risks

RSPL remains exposed to moderate tenant concentration risk, with the top five tenants accounting for ~55% of the total leased area as on May 31, 2026.

− Exposure to execution risk

RSPL has planned capex for developing a 200-key hotel in Mysore over the next three-four years.

− Vulnerability of debt coverage indicators to changes in occupancy and interest rates

The rating factors in the volatility of the occupancy level to economic cyclicality, which could adversely impact tenants’ business profiles and, in turn, rental cash flows.

Could lead to an upgrade

ICRA could upgrade RSPL’s rating if it demonstrates a significant improvement in its operational risk profile through growth in the scale of operations and diversification of the project portfolio.

Could lead to a downgrade

Pressure on RSPL’s rating could emerge if there is any material decline in occupancy or a significant increase in debt or investments in group companies, adversely impacting the company’s

Agency-reported financials (ICRA, 16 Jun 2026)

Metric	FY2025	FY2026
Operating income	₹57.71 Cr	₹361 Cr
PAT	₹7.43 Cr	₹160 Cr
OPBDIT/OI	16.0%	64.0%
PAT/OI	13.0%	44.0%
Total outside liabilities/Tangible net worth (times)	0.17×	0.23×
Total debt/OPBDIT (times)	0.00×	0.00×
Revenue growth (YoY)	—	526.0%
EBITDA (margin × income)	₹9.23 Cr	₹231 Cr
Implied total debt (debt/EBITDA × EBITDA)	₹0.00 Cr	₹0.00 Cr

Borrowings & rated debt

Rated borrowing limits (latest)₹800 Cr

Limits raised0 times0 new facilities rated

Facility mix

Rated facilities

Facility	Type	Previous	Current	Change	Rating	Action	Agency
Long-term – fund-based – Proposed term loan	Term loans	₹800 Cr	₹800 Cr	0.0%	A+ (Stable)	Reaffirmed	ICRA

Credit assessment · Services

Rating Methodology – Service Sector Companies · Standalone accounts · FY 2025-26

Indicative long-term—

Indicative short-term—

Score—

LiquidityNot assessableAgency: Adequate

DirectionRating watch – DevelopingAgency outlook: Stable

ICRA rating · Jun 2026A+3 notches below indicative

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)	56%
Information on file	44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern

Indicative assessment from public data using the published methodology factors; not a credit rating.

Borrowing & funding lifecycle

⬇ PDF report ⬇ Excel

Can it borrow more?Further funding possible with conditions Next rating action stable or better: 58% (At risk of downgrade) · ML model on 6893 rating histories, AUC 0.653

Rated limits₹800 Cr

Not yet allocated₹800 Cr

Extra debt within 3.5× EBITDA—

Interest coverage—

Limit utilisation—

Open bank charges0 · —

Credit outlook model: 58% chance the next rating action is stable or better
Current rating A+ (investment grade)
₹800 cr of rated limits not yet tied to a lender

Rated limits by facility

Timeline

16 Jun 2026 ICRA reaffirmed: A+ (Stable)Rated limits ₹800 cr ICRA rationale

16 Jun 2026 Cash & liquid funds ₹356 cr

From the report

Further, the debt coverage indicators remain sensitive to changes in interest rates, occupancy levels, and timely implementation of contractual rent escalations. www.icra.in Sensitivity Label : Public Page |2 Liquidity position: Adequate RSPL’s liquidity profile remains adequate, with unencumbered cash and liquid investments of around Rs. 356 crore as on March 31, 2026.

ICRA rationale

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.

Competitors of Rga Software Parks LLP