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NBCC is keen on getting the government’s stress fund to complete three projects of the Amrapali

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Amrapali

The builder has identified three projects that are net worth positive and has written to the court receiver for funding. The cost for completion of these projects is about Rs 600 crore.

State-run NBCC (India) is keen on getting the government’s stress fund to complete three of the 16 projects of the Amrapali Group. The fund is being offered by the central government for stalled housing projects.

The builder has identified three projects that are net worth positive and has written to the court receiver for funding. The cost for completion of these projects is about Rs 600 crore.

About a year ago, the Supreme Court had asked NBCC to complete 16 projects of the Amrapali Group. It has completed work on two of those, which will be handover soon to the court receiver. It has issued tender for completion of work on seven stuck projects.

“A meeting was held with the court receiver on January 9, where possibility of getting stress fund for net worth positive project was discussed. We identified Platinum & Titanium, Heart Beat-1 and Heart Beat-2 as net worth positive and will call the tender of these projects,” said an official aware of the development.

NBCC has shared the details with the court receiver and has also said that Platinum and Titanium require urgent rectification work. It has also shared the funding pattern and cash flow.

The projects that the Supreme Court has asked NBCC to take over at Noida and Greater Noida are expected to cost Rs 8,361 crore to complete.

Source: TNN

(Note: The story has been published without modifications to the text. Only the headline and intro have been changed.)

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