NBCC Gets Nod To Develop Rs 10,000-Crore Amrapali Projects In Noida

Following the Supreme Court’s ruling in 2019, NBCC was tasked with completing 38,159 units within the Amrapali projects and finalising the shared facilities in these developments.

NBCC has completed around 13,500 homes in the stalled housing projects of Amrapali across Noida and Greater Noida and will construct the remaining nearly 25,000 apartments by March 2025, PTI reported in November, quoting a top company official.

As per the Supreme Court's directions, Amrapali Stalled Projects Investments Reconstruction Establishment was formed to complete the stuck projects through NBCC.

The apex court had granted permission to the company to effectuate the sale of unsold inventories and FARs under the supervision of the court receiver.

Earlier this week, the state-run builder bagged orders worth Rs 929 crore from multiple clients in Uttar Pradesh, Telangana, Sikkim and Madhya Pradesh.

Shares of NBCC closed 2.28% lower at Rs 139.30 apiece on the BSE before the announcement, as compared with a 0.59% decline in the benchmark BSE Sensex.