Alpha Corp’s ₹750Cr Lifeline: Revival for 3 Stalled Projects

Alpha Corp Development has announced plans to invest around ₹750 crore over the next four years to complete three stalled residential and commercial projects in Greater Noida and Gurugram.

The announcement follows a recent ruling by the Supreme Court of India, which reinstated the company’s resolution plan for acquiring delayed projects of the erstwhile Earth Infrastructure under the Insolvency and Bankruptcy Code (IBC). The court overturned an earlier order by the National Company Law Appellate Tribunal (NCLAT) that had rejected Alpha Corp’s proposal, paving the way for the revival of projects delayed since 2011.

The projects include the residential development Earth Copia in Gurugram and the commercial projects Earth TechOne and Earth Sapphire Court in Greater Noida. The Gurugram housing project consists of around 600 units, with approximately 450 units already sold. Together, the two commercial developments provide nearly 40 lakh square feet of saleable space.

According to the company, the projects carry an estimated revenue potential of close to ₹1,200 crore through customer collections and the sale of unsold inventory. The Supreme Court also directed the Greater Noida Industrial Development Authority (GNIDA) to recover only the principal dues while waiving penalties and interest charges.

Alpha Corp stated that the revival plan will not impose any additional financial burden on homebuyers, strengthening confidence in developer-led project resolution under the IBC framework.

News by Rahul Yelligetti.