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

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

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

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

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?