Suraksha Group-controlled Jaypee Infratech on Thursday said it will invest around Rs 6,000 crore over the next three years to complete stalled housing projects, comprising 20,000 units, and assured homebuyers that it would adhere to the deadline promised in the approved resolution plan. In June last year, Mumbai-based Suraksha Group took control of Jaypee Infratech Ltd (JIL) by constituting a three-member board. Sudhir V Valia, promoter of Suraksha Group, was appointed as a non-executive director on the JIL board. The takeover followed the insolvency appellate tribunal NCLAT decision on May 24 last year, upholding Suraksha Group's bid to acquire JIL. The NCLAT had directed Suraksha Group to pay an additional Rs 1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) as farmers' compensation. In a press conference held at Noida, JIL CEO Abhijit Gohil said, "We want to assure homebuyers that we will abide by whatever timeline we have committed in the resolution...

Jaypee Infratech Ltd.

15 Nov 2024

Jaypee Infratech posts Rs 88.2 cr profit in Q2; MD & CEO Aalok Dave resigns

Business Standard

Jaypee Infratech Ltd has reported a consolidated net profit of Rs 88.20 crore for the September quarter. The company had posted a net loss of Rs 588.31 crore in the year-ago period. Total income declined to Rs 222.86 crore in the second quarter of the 2024-25 fiscal year from Rs 357.92 crore in the corresponding period of the previous year, according to a regulatory filing on Thursday. In June this year, the Mumbai-based Suraksha Group took control of the Jaypee Infratech Ltd (JIL) by constituting a three-member board. Sudhir V Valia, promoter of Suraksha Group, was appointed as a non-executive director on the JIL board. The takeover followed the insolvency appellate tribunal NCLAT decision on May 24, 2024, upholding Suraksha Group's bid to acquire JIL. The date of the NCLAT order, May 24, has been treated as the 'Approval Date' as defined in the approved resolution plan. The NCLAT had directed Suraksha Group to pay an additional Rs 1,334 crore to Yamuna Expressway Industrial...

Jaypee Infratech Ltd.

29 Aug 2024

Suraksha Group earmarks 2,552 acre of land for Jaypee Infratech lenders

Business Standard

Suraksha Group, which has acquired Jaypee Infratech Ltd (JIL) through insolvency process, has identified 2,552 acre of land parcels for lenders of the bankrupt realty firm in accordance with the resolution plan. On June 4, Suraksha Group took control of JIL following the National Company Law Appellate Tribunal's (NCLAT) decision on May 24, upholding its bid to acquire JIL and constituted a new board. According to sources, Suraksha Group has earmarked 2,372 acre of land for assenting lenders and 180 acre, separately, for ICICI. The group had appointed real estate consultant CBRE to help in land identification process. JIL had around 6,250 acre of land in Delhi-NCR and adjoining areas. In its resolution plan, which was approved by the National Company Law Tribunal (NCLT) in March last year, Suraksha Group has offered bankers more than 2,500 acre of land to partly settle their dues. Sources said Suraksha Group, during the last three months, has infused Rs 125 crore as equity and anoth

Jaypee Infratech Ltd.

25 Aug 2024

Suraksha Group invests Rs 250 cr in Jaypee Infratech, secures Rs 3K cr loan

Business Standard

Suraksha Group has infused Rs 250 crore in Jaypee Infratech after acquiring it through insolvency process and has also arranged a Rs 3,000 crore loan facility, as it gears up to complete around 20,000 unfinished flats in Delhi NCR. Around Rs 1,000 crore cash is lying in the balance sheet of the Jaypee Infratech Ltd, which the bankrupt company has accumulated from real estate business and toll income of Yamuna Expressway that connects Greater Noida and Agra. According to sources, Suraksha Group has infused Rs 250 crore in Jaypee Infratech Ltd (JIL) as equity and debt after taking control of the latter in early June. JIL currently has Rs 1,250 crore fund, including Rs 1,000 crore internal cash and Rs 250 crore infusion from Suraksha group. That apart, Suraksha Group has also arranged a credit line of Rs 3,000 crore to ensure that there is no paucity of funds for completion of all stalled projects, they added. Sources said the Suraksha Group will require Rs 6,500-7,000 crore investme

Jaypee Infratech Ltd.

13 Jun 2024

Jaypee Infratech To Delist After Takeover, Appoints New CFO

NDTV Profit

The realtor appointed Devang Pravin Patel as the new Chief Financial Officer, with effect from June 8.

Jaypee Infratech appoints new CFO to delist shares as part of insolvency

Business Standard | 13 Jun 2024

Jaypee Infratech Ltd.

12 Jun 2024

Suraksha Group Injects Rs 125 Crore In Jaypee Infratech To Complete Stalled Projects

NDTV Profit

Suraksha Group injects Rs 125 crore to kickstart construction of stalled projects at Jaypee Infratech.

Suraksha Group infuses Rs 125 cr in Jaypee Infratech, to begin stalled work

Business Standard | 12 Jun 2024

Jaypee Infratech Ltd.

10 Jun 2024

Jaypee Infra Insolvency: First Instalment Of Rs 133 Crore Paid to YEIDA By Suraksha Group

NDTV Profit

According to sources, Suraksha Group will soon infuse Rs 125 crore equity fund to start construction of stalled housing projects across Delhi-NCR

Jaypee Infratech Ltd.

05 Jun 2024

Suraksha Group Takes Control Of Jaypee Infratech, To Revive Stalled Projects

NDTV Profit

Suraksha Group takes control of Jaypee Infratech, to revive stalled projects by infusing Rs 125 crore equity fund and constituting a three-member board.

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