Suraksha Group Makes Major Delhi NCR Investment ₹250 Crore

Suraksha Group has injected ₹250 crore into Jaypee Infratech (JIL) and secured a ₹3,000 crore credit facility, aiming to complete around 20,000 unfinished flats in the Delhi NCR region. This financial infusion is part of a broader strategy to ensure that all stalled residential projects under JIL are completed without further delays.

Currently, JIL holds a fund of ₹1,250 crore, comprising ₹1,000 crore in internal cash and the recent ₹250 crore infusion. The additional credit line is designed to cover the estimated ₹6,500-7,000 crore required to complete nearly 160 residential towers. Before Suraksha Group's takeover, construction was active on only 62 towers, while work on the remaining 97 towers had come to a complete halt.

Suraksha Group has ramped up efforts on the 62 partially completed towers, pushing towards obtaining completion certificates for those nearing completion. For the 97 stalled towers, contracts have been awarded for 41, with work orders for the remaining 56 expected to be issued shortly. Full-scale construction activities are anticipated to be in progress by October.

This push comes after Suraksha Group assumed control of JIL in June, following the National Company Law Tribunal's (NCLAT) decision in May that upheld Suraksha's bid to acquire JIL. The move was intended to expedite the resolution plan and safeguard the interests of all stakeholders involved.

With these efforts, Suraksha Group is on track to resolve one of the largest real estate crises in the region, bringing relief to thousands of homebuyers who have been waiting for years for their homes.

News by Rahul Yelligetti