PFM has committed the money to a project being developed by a 100% subsidiary of Lodha Developers, the flagship company of Lodha Group.

The company made operating sales of Rs 6,430 crore for fiscal 2016 against Moody's expectation of Rs 9000 -9300 crore.

The cos's annual pre-sales of Rs 7,700 crore were 4 per cent lower than in FY14 and 13 per cent below the company's target of Rs 9,000 cror...

Fitch, however, has affirmed the company's long-term foreign-currency issuer default rating at 'B+' as well as 'B+' long-term rating.

Moody's downgraded leading city-based realty player Lodha Developers rating to negative from stable citing weakening performance.