Gujarat-based NBFC tops NARCL bid for consolidated construction
AVIATION & AIRPORTS

Gujarat-based NBFC tops NARCL bid for consolidated construction

Gujarat-based NBFC Raj Radhe Finance has offered Rs 1.3 billion to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Company’s (NARCL) Rs 1 billion offer.

The offer was in response to a Swiss challenge called by banks after the anchor bid by NARCL last month. This is the third offer received by banks in response to NARCL bids. It remains to be seen whether the government-backed bad loan aggregator uses its option to match or beat its challenger.

Even the enhanced offer from Raj Radhe amounts to a 5% recovery for lenders on total outstanding dues of Rs 26.23 billion. It is even lower than the promoter’s offer for settlement at Rs 1.95 billion, which had envisaged a 7.5% recovery for banks. It’s an EPC company that does not have any real assets, but there could be future claims and awards which could yield some returns.

Also Read
Godrej Properties set to buy 50-acre parcel at Palghar
Singapore’s GIC, India’s ESR Group set up $600 mn JV

Gujarat-based NBFC Raj Radhe Finance has offered Rs 1.3 billion to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Company’s (NARCL) Rs 1 billion offer. The offer was in response to a Swiss challenge called by banks after the anchor bid by NARCL last month. This is the third offer received by banks in response to NARCL bids. It remains to be seen whether the government-backed bad loan aggregator uses its option to match or beat its challenger. Even the enhanced offer from Raj Radhe amounts to a 5% recovery for lenders on total outstanding dues of Rs 26.23 billion. It is even lower than the promoter’s offer for settlement at Rs 1.95 billion, which had envisaged a 7.5% recovery for banks. It’s an EPC company that does not have any real assets, but there could be future claims and awards which could yield some returns. Also Read Godrej Properties set to buy 50-acre parcel at Palghar Singapore’s GIC, India’s ESR Group set up $600 mn JV

Next Story
Resources

Rustomjee Partners Rotary For SCHOOLR-ATHON 2025 In Dombivli

Rustomjee Group partnered with the Rotary Club of Dombivli Downtown for SCHOOLR-ATHON 2025, a student-community marathon held on 7 December 2025 along the Urban Woods by Rustomjee Drive Road in Dombivli. The event brought together more than 5,000 participants, including 2,200 young runners across 2 km, 3 km and 5 km race categories, promoting fitness, compassion and civic engagement.Proceeds from the marathon will support life-saving paediatric cardiac surgeries for 18 underprivileged children identified by the Rotary Club. With over 2,000 children currently on hospital waiting lists, this yea..

Next Story
Real Estate

Inspur Showcases Modular Construction Capability in Australia

Shandong Inspur Intelligent Building Technology Co., hosted its Smart Construction and Next-Generation Productivity Showcase in Brisbane, marking its first comprehensive introduction of its modular construction framework to the Australian market. The event drew builders, developers, design firms and engineering consultancies, with discussions centred on offshore modular delivery, regulatory pathways and the role of AI across the construction lifecycle.Haitao Huang, Chairman of TAUCO Australia, outlined the regulatory environment for modular construction, including National Construction Code re..

Next Story
Real Estate

Jenika Ventures to Hire 100 Professionals Across India and Dubai

Jenika Ventures, one of India’s rapidly growing real estate consulting firms, has announced a large-scale hiring initiative to recruit over 100 professionals across key metros in India and Dubai. The recruitment programme forms a critical part of the company’s expansion strategy, aimed at strengthening regional expertise and delivering enhanced advisory services to a geographically diverse client base.The hiring will take place in Delhi NCR, Noida, Mumbai, Gurugram, Pune, Bengaluru, Hyderabad, Kolkata and Dubai, across functions such as sales strategy, investment advisory, marketing, opera..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App