Alpha Corp to complete three stalled projects in NCR at Rs 900 cr

13 Jul 2021 CW Team

Alpha Corp will invest around Rs 900 crore to complete three stalled projects of Earth Infrastructure, that are acquired by the process of insolvency.

The three stalled projects include a developable and saleable area of about 4.5 million sq ft, which are located in Gurugram and Greater Noida.

Alpha Corp CFO and Executive Director Santosh Agarwal told the media that the firm has acquired three stalled projects of Earth Infrastructure. Buyers have already paid around 70% of their money but did not get their units.

These projects were launched during 2010-12 but were not finished in the specified time.

He further added that the total investment estimated to complete these projects is around Rs 900 crore. Alpha Corp anticipates about Rs 300-350 crore collections from existing buyers.

Agarwal added that the firm will invest the remaining amount of around Rs 500 crore through a mix of equity and debt to finish these projects over the next four to five years.

He further added that the company estimates that around 30-40% of the total 4.5 million sq ft saleable area should be unsold and anticipates realisation of around Rs 1,100 crore from these projects against sold units and sales value of unsold stocks from customers.

Currently, Alpha Corp's company is compiling and verifying the data of sold and unsold units in the projects.

Agarwal said the works should start within six to nine months in these projects, subject to approvals from several development authorities. In these projects, about 2,900 units will be developed.

Agarwal said the insolvency process began in June 2018. As per the National Company Law Tribunal (NCLT) order, submission of the separate resolution plans was allowed for each project.

Image Source

Also read: Private equity investment in Indian real estate at $2.7 bn in 2021

Also read: Berkshire Hathaway real estate division expands operations in India

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..