Suraksha Group Commits ₹3000 Cr Funding for NCR Housing Projects

In a historic relief move in favor of thousands of distressed homebuyers from North India, the execution of the Jaypee Infratech Rs 3000 crore investment plan has formally been moved to its operational completion stage by Suraksha Group. In the wake of its takeover of Jaypee Infratech Limited (JIL) via the corporate insolvency resolution process, Suraksha Group has decided to invest fresh funds in completing all delayed high-rise buildings along with offering around 2,000 delayed housing units by September 2028.

The promoter of Suraksha Group, Sudhir Valia, reiterated the company's resolve to offer much-delayed housing units to its buyers. While the physical construction of these projects will be completed by March 2028, the actual completion date will be in September 2028. This additional period of six months has been kept because of mandatory winter bans on construction activities in the National Capital Region due to GRAP air quality standards.

This latest financial investment adds to the existing ₹1,500 crore to ₹2,000 crore investment by the Suraksha Group since taking charge of the management of JIL following the approval by NCLAT. The execution process involving the 159 residential towers under JIL continues steadily:

• Number of Towers Completed: Complete civil construction within 84 towers, consisting of 7,913 units.

• Possession Delivered: About 5,000 homebuyers have taken delivery of their flats.

• Number of Towers Under Possession Delivery: Possession processes for around 3,000 additional units have been completed, and ongoing execution for the other 75 towers.

The new funding will ensure the structural, installation, and finishing processes within the Wish Town project of JIL in Noida and the surrounding area along the Yamuna Expressway.

In order to support the execution process, a capital plan was designed by Suraksha Group in order to minimize reliance on debt from the market:

• Homebuyers Receivables: Expected collection of ₹1,800 crore to ₹2,000 crore from current homebuyers upon reaching milestones.

• Infrastructure Earnings: Receiving annual recurring income of around ₹500 crore from the toll management of Yamuna Expressway.

• Monetization of Unsold Inventory: Monetization of the unsold inventory of real estate properties of JIL, which consists of about 2,000 units worth around ₹2,500 crores.

Expansion & Growth

Besides the obligations in the legacy portfolio, the management of the company indicated its intention to leverage regional demand for real estate in Greater Noida through the development of new townships in the Yamuna Expressway by the Suraksha Group. As the legacy portfolio stabilizes, the developer is working towards the launch of three integrated multi-purpose townships totaling 465 acres located in Noida, Greater Noida, and the Yamuna Expressway region:

• Suraksha City of the Ganges: A 256-acre master-planned residential township.

• Suraksha Yamuna Smart City: A 124-acre residential township.

• Suraksha Enterprise City: An 85-acre industrial and logistics township.

As indicated by the company management, while expansion of the business through strategic industrial and residential corridors will fuel business growth in the future, the most pressing objective is to deliver the projects and hand over units to JIL home buyers.

Also read our latest news: Puravankara Acquires ₹5200 Cr Greater Noida Land