NBCC Sells 417 Amrapali Flats In Noida, Greater Noida Via Auction For ₹1,045 Crore
NBCC (India) Ltd successfully auctioned 417 residential units from stalled Amrapali Group projects for ₹1,045.40 crore, earning a 1% marketing fee. The units were sold from Aspire Leisure Valley in Greater Noida (W) and Aspire Silicon City in Noida. This sale is part of the Supreme Court-mandated ASPIRE initiative, under which NBCC must complete 38,000 flats for homebuyers. Additionally, the company is developing over 10,000 apartments in five ongoing Amrapali projects in Greater Noida, using revenue from these sales to finance construction costs.
*this image is generated using AI for illustrative purposes only.
State-owned NBCC (India) Ltd has successfully completed a major e-auction of residential units from the stalled Amrapali Group projects, generating significant revenue through the sale of 417 homes in Noida and Greater Noida. The transaction marks a substantial milestone in the company's ongoing efforts to resolve one of India's largest real estate disputes.
Auction Details and Financial Impact
The e-auction covered residential units across two key locations, generating substantial revenue for the project completion initiative.
| Parameter: | Details |
|---|---|
| Total Units Sold: | 417 residential units |
| Total Sale Value: | ₹1,045.40 crore |
| NBCC Marketing Fee: | 1% of sale value |
| Location 1: | Aspire Leisure Valley, Greater Noida (W) |
| Location 2: | Aspire Silicon City, Ph-IV, Sec-76, Noida, UP |
The company announced the successful completion of the e-auction through a regulatory filing, though it did not disclose the names of the buyers who acquired these residential units.
Supreme Court Mandate and ASPIRE Initiative
The sale forms part of a larger Supreme Court-directed initiative to resolve the Amrapali Group's stalled housing projects. Following the court's directions, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was established to oversee the completion of these stuck developments through NBCC's project management expertise.
Under this mandate, NBCC has been tasked with completing and delivering 38,000 flats to homebuyers who had invested in various Amrapali projects. The current auction represents a significant step toward fulfilling this substantial commitment to affected homebuyers.
Expanded Development Portfolio
Beyond the core mandate of completing 38,000 units, NBCC has expanded its involvement in the Amrapali resolution process. The company is currently developing more than 10,000 additional apartments across five ongoing Amrapali projects in Greater Noida, following approval from local authorities to utilize previously unused land parcels.
This expanded development scope serves a dual purpose:
- Maximizing the utilization of available land resources
- Generating additional revenue to finance construction costs for the mandated project completions
- Providing more housing options in the Greater Noida region
Strategic Business Implications
NBCC, which operates in both project management consultancy (PMC) and real estate development, is leveraging the revenue generated from these additional unit sales to finance the construction costs of completing the original 38,000 units. This self-financing model helps ensure the sustainability of the project completion initiative while minimizing the financial burden on the company.
The successful auction demonstrates NBCC's ability to execute large-scale real estate transactions and manage complex project portfolios under challenging circumstances. The 1% marketing fee structure provides the company with additional revenue while maintaining focus on the primary objective of completing stalled projects for affected homebuyers.
Historical Stock Returns for NBCC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.12% | +4.73% | +4.35% | -0.77% | +38.09% | +521.28% |
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