Jaypee Infratech's net loss increased to Rs 601 crore in Q3 FY23
ECONOMY & POLICY

Jaypee Infratech's net loss increased to Rs 601 crore in Q3 FY23

Debt-ridden Jaypee Infratech, disclosed that its consolidated net loss for the third quarter of this fiscal year had increased to Rs 6.01 billion. It had a net loss of Rs 5.4 billion at the same time last year.

In the December quarter of this fiscal year, total revenue increased to Rs 3.12 billion from Rs 2.94 billion earlier.

The overall net loss for the months of April through December of this fiscal year was Rs 18.25 billion as opposed to Rs 16.83 billion during the same time last year.

In the first three quarters of this fiscal year, total income increased to Rs 9.46 billion from Rs 7.70 billion in the same period last year. The Yamuna Expressway Project, which connects Greater Noida and Agra, as well as the company's healthcare operations, both provide income for it.

Since August 2017, Jaypee Infratech has been subject to the Corporate Insolvency Resolution Process (CIRP).

The Mumbai-based Suraksha group's plan to acquire Jaypee Infratech and finish some 20,000 homes for resentful homebuyers was subject to a reserved decision by the National Company Law Tribunal (NCLT) in November of last year.

In June 2021, Suraksha Group gained consent from financial creditors and homebuyers to acquire Jaypee Infratech. This gave homebuyers renewed hope that they would soon be able to take ownership of their dream apartments in abandoned projects, mostly in Noida and Greater Noida.

Suraksha group won the bid in the fourth round of the competition to find a buyer for Jaypee Infratech with 98.66% of the vote, 0.12% more votes than NBCC.

Also read:
BFL Group sets a new high for innovative workspaces
Mohali development body to auction 77 properties


Debt-ridden Jaypee Infratech, disclosed that its consolidated net loss for the third quarter of this fiscal year had increased to Rs 6.01 billion. It had a net loss of Rs 5.4 billion at the same time last year. In the December quarter of this fiscal year, total revenue increased to Rs 3.12 billion from Rs 2.94 billion earlier. The overall net loss for the months of April through December of this fiscal year was Rs 18.25 billion as opposed to Rs 16.83 billion during the same time last year. In the first three quarters of this fiscal year, total income increased to Rs 9.46 billion from Rs 7.70 billion in the same period last year. The Yamuna Expressway Project, which connects Greater Noida and Agra, as well as the company's healthcare operations, both provide income for it. Since August 2017, Jaypee Infratech has been subject to the Corporate Insolvency Resolution Process (CIRP). The Mumbai-based Suraksha group's plan to acquire Jaypee Infratech and finish some 20,000 homes for resentful homebuyers was subject to a reserved decision by the National Company Law Tribunal (NCLT) in November of last year. In June 2021, Suraksha Group gained consent from financial creditors and homebuyers to acquire Jaypee Infratech. This gave homebuyers renewed hope that they would soon be able to take ownership of their dream apartments in abandoned projects, mostly in Noida and Greater Noida. Suraksha group won the bid in the fourth round of the competition to find a buyer for Jaypee Infratech with 98.66% of the vote, 0.12% more votes than NBCC. Also read: BFL Group sets a new high for innovative workspaces Mohali development body to auction 77 properties

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?