Key Metrics of Sattva Developers Private Limited
About Sattva Developers Private Limited
Company details
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.
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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 |
|---|---|---|---|---|---|---|---|
| 30 Oct 2026 | ICRA | Reaffirmed | AA | — | Stable | ₹101 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Steady cash flows from Knowledge Real ty Trust; exceptional financial flexibility
SDPL is expected to receive cash flows in the form of distribution income from Knowledge Realty Trust (rated [ICRA]AAA (Stable), which is sponsored by Sattva Group and Blackstone Group).
+ Healthy performance in the residential segment
The residential segment of the Sattva Group witnessed healthy performance in FY2026, as reflected by improvement in its pre-sales by 34% YoY to ~Rs. 2,700.0 crore and collections by 97% YoY to ~Rs. 1,800 crore.
+ Established track record and brand recognition of the Group in real estate industry
The Sattva Group has an established position in the real estate market with a track record of around four decades in the Bengaluru and Hyderabad market.
Credit challenges
− Exposure to execution and market risks
SDPL has significant plans to expand the ongoing portfolio and has robust launch pipeline to maintain its growth momentum and strengthen its market presence in the existing as well as new micromarkets.
− Exposure to geographical concentration risk
Most of the Group’s ongoing residential and commercial projects are primarily located in Bengaluru and Hyderabad, which exposes it to any region-specific downturn in demand.
Could lead to an upgrade
ICRA could upgrade the rating if the Group demonstrates a significant increase in residential sales and collections, along with greater geographical diversification. This, coupled with higher rental income and distributions from Knowledge Realty Trust, should enable the Group to maintain a net debt-free position on a sustained basis.
Could lead to a downgrade
Negative pressure on the rating could arise from a significant decline in residential collections, material decline in occupancy of the completed office portfolio, delays in leasing tie-ups for the ongoing commercial projects, or weakening in the credit profile/lower distributions from Knowledge Realty Trust. A significant increase in indebtedness impacting leverage and coverage metrics, or sizeable outflows towards land investments/support to related entities adversely impacting
Agency-reported financials (ICRA, 30 Oct 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹565 Cr | ₹909 Cr |
| PAT | ₹365 Cr | ₹5,512 Cr |
| OPBDIT/OI | 33.6% | 17.3% |
| PAT/OI | 64.6% | 606.7% |
| Total outside liabilities/Tangible net worth (times) | 0.60× | 0.30× |
| Total debt/OPBDIT (times) | 2.40× | 6.60× |
| Interest coverage (times) | 5.50× | 1.90× |
| Revenue growth (YoY) | — | 60.7% |
| EBITDA (margin × income) | ₹190 Cr | ₹157 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹456 Cr | ₹1,037 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹34.54 Cr | ₹82.73 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long Term – Fund Based – Term Loan | Term loans | ₹70.0 Cr | ₹70.0 Cr | 0.0% | AA (Stable) | Reaffirmed | ICRA |
| Long Term – Unallocated | Working capital & bank lines | ₹31.0 Cr | ₹31.0 Cr | 0.0% | AA (Stable) | Reaffirmed | ICRA |
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) | 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
- Credit outlook model: 56% chance the next rating action is stable or better
- Current rating AA (investment grade)
- Interest coverage 1.9×
- ₹31 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Nonetheless, ICRA takes comfort from the company’s track record in the residential and commercial real estate segment Liquidity position: Adequate The company’s liquidity’s position is adequate with unencumbered cash and cash equivalents of Rs 180 crore as on March 31, 2026.
From the report
This, coupled with higher rental income and distributions from Knowledge Realty Trust, should enable the Group to maintain a net debt-free position on a sustained basis.
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.