+
Suraksha Group allocates 2,552 acre for Jaypee Infratech lenders in NCR
Real Estate

Suraksha Group allocates 2,552 acre for Jaypee Infratech lenders in NCR

Suraksha Group, which acquired Jaypee Infratech (JIL) through an insolvency process, has identified 2,552 acre of land parcels for the lenders of the bankrupt real estate firm as part of its resolution plan. On June 4, Suraksha Group took control of JIL after the National Company Law Appellate Tribunal (NCLAT) upheld its bid to acquire JIL on May 24 and formed a new board.

Sources indicated that Suraksha Group has allocated 2,372 acre of land for assenting lenders and an additional 180 acre specifically for ICICI. The group appointed the real estate consultant CBRE to assist in the land identification process. JIL owned approximately 6,250 acre of land in the Delhi-NCR region and surrounding areas.

In its resolution plan, which received approval from the National Company Law Tribunal (NCLT) in March of the previous year, Suraksha Group proposed offering more than 2,500 acres of land to bankers to partly settle their dues.

Sources also revealed that over the past three months, Suraksha Group has injected Rs 1.25 billion as equity and another Rs 1.25 billion as debt into Jaypee Infratech. Additionally, the group has secured a loan facility of Rs 30 billion as it prepares to complete around 20,000 unfinished flats in the Delhi-NCR region.

Furthermore, approximately Rs 10 billion in cash is currently held in JIL's balance sheet, accumulated from its real estate business and toll income from the Yamuna Expressway, which connects Greater Noida and Agra. This brings the total available cash in JIL to Rs 12.50 billion.

Suraksha Group will need an investment of Rs 65-70 billion to finish nearly 160 residential towers across various projects. Before Suraksha Group's takeover, construction was ongoing in only 62 towers, while work on the remaining 97 towers had come to a complete halt.

Suraksha Group, which acquired Jaypee Infratech (JIL) through an insolvency process, has identified 2,552 acre of land parcels for the lenders of the bankrupt real estate firm as part of its resolution plan. On June 4, Suraksha Group took control of JIL after the National Company Law Appellate Tribunal (NCLAT) upheld its bid to acquire JIL on May 24 and formed a new board. Sources indicated that Suraksha Group has allocated 2,372 acre of land for assenting lenders and an additional 180 acre specifically for ICICI. The group appointed the real estate consultant CBRE to assist in the land identification process. JIL owned approximately 6,250 acre of land in the Delhi-NCR region and surrounding areas. In its resolution plan, which received approval from the National Company Law Tribunal (NCLT) in March of the previous year, Suraksha Group proposed offering more than 2,500 acres of land to bankers to partly settle their dues. Sources also revealed that over the past three months, Suraksha Group has injected Rs 1.25 billion as equity and another Rs 1.25 billion as debt into Jaypee Infratech. Additionally, the group has secured a loan facility of Rs 30 billion as it prepares to complete around 20,000 unfinished flats in the Delhi-NCR region. Furthermore, approximately Rs 10 billion in cash is currently held in JIL's balance sheet, accumulated from its real estate business and toll income from the Yamuna Expressway, which connects Greater Noida and Agra. This brings the total available cash in JIL to Rs 12.50 billion. Suraksha Group will need an investment of Rs 65-70 billion to finish nearly 160 residential towers across various projects. Before Suraksha Group's takeover, construction was ongoing in only 62 towers, while work on the remaining 97 towers had come to a complete halt.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code