Nearly a decade after thousands of homebuyers were left stranded following stalled construction at Jaypee Wish Town, Suraksha Group has announced the completion of 5,989 residential units across 63 towers, offering incremental relief to more than 20,000 buyers awaiting possession. The company, which took control of Jaypee Infratech Limited in 2024 after one of India's most closely watched real estate insolvency resolutions, has received Occupancy Certificates for 31 towers and applied for OCs for another 32 towers.

Major Construction Milestone Achieved

Suraksha Group has successfully completed construction across multiple residential projects within the Wish Town township located along the Noida–Greater Noida Expressway. The company expects approvals for the pending towers over the next couple of months, which will enable further handovers to waiting homebuyers.

Occupancy Certificates Received for 31 Towers

The company has received Occupancy Certificates for 31 towers spread across four residential projects within Wish Town, covering 3,135 units. With these approvals, eligible homebuyers can now proceed towards possession, registration and handover.

Additional Approvals in Pipeline

Suraksha Group has applied for Occupancy Certificates for 32 more towers across Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights and Pebble Court, covering 2,854 units. The company stated that regulatory approvals for these towers are expected over the next few months, which would further accelerate deliveries under the resolution framework.

Background of the Jaypee Wish Town Case

Jaypee Wish Town became a flashpoint in India's real estate crisis after construction halted several years ago, leaving more than 20,000 homebuyers uncertain about delivery timelines despite having invested their life savings. The project evolved into one of the largest cases under the Insolvency and Bankruptcy Code, with homebuyers recognised as financial creditors. Suraksha Group's takeover of Jaypee Infratech in 2024 marked a turning point, with the new management committing to complete the stalled projects under a court-approved resolution plan.

Management Commentary on Progress

Jash Panchamia, Executive Director of Jaypee Infratech Limited, commented on the sustained execution momentum despite regulatory challenges. He noted that despite restrictions imposed on construction activities due to GRAP rules during winter months, the company remains committed to fulfilling customer expectations and delivering as per the timeline outlined in the resolution plan. Panchamia emphasized that construction is progressing at full pace for the remaining towers, with confidence in delivering them in line with the resolution plan.

Significance for Real Estate Sector

The latest construction milestone is being viewed as a gradual but tangible step towards restoring confidence among affected buyers. Market participants noted that sustained progress on approvals and handovers will be crucial to rebuilding trust in one of India's most troubled real estate developments. With nearly 6,000 units now constructed and a pipeline of approvals underway, the gradual resumption of deliveries is expected to serve as a test case for the effectiveness of the IBC framework in resolving large-scale housing distress.

Suraksha Diagnostic , the largest integrated diagnostic chain in Eastern India, has reported a robust 17% year-over-year revenue growth for the second quarter of fiscal year 2026. The company's strategic expansion and focus on advanced diagnostic services have contributed to its strong performance.

Financial Highlights

Suraksha Diagnostics demonstrated solid financial results for Q2 FY26:

The company's revenue growth was primarily driven by an increase in test volumes. However, the EBITDA margin experienced a decline due to the impact of new center openings, which are yet to reach maturity.

Operational Expansion

Suraksha Diagnostics has been actively expanding its network:

• Added 11 new centers in H1 FY26
• Plans to open 3 hub centers and 6 spoke centers in H2 FY26
• Total planned additions for FY26: 20 centers

Strategic Initiatives

Launch of Suraksha Genomics

In July 2025, Suraksha Diagnostics launched Suraksha Genomics, a dedicated vertical for advanced genetic and molecular testing services. This strategic move positions the company to capitalize on the growing genomics market, which is projected to reach $186.64 billion globally by 2035.

Suraksha Genomics offers:

• Prenatal diagnostics
• Inherited disease analysis
• Pharmacogenomics
• Oncology-focused molecular panels

The company aims to expand into high-impact domains such as whole genome and metagenomic testing, AI integration, and population-scale genomic screening initiatives.

Acquisition of Fetomat Wellness

In April 2025, Suraksha Diagnostics acquired a 63% stake in Fetomat Wellness Private Limited, a network of fertility and pregnancy care clinics. This acquisition enhances Suraksha's offerings in fetal and maternal medicine, further strengthening its position in the diagnostics sector.

Management Commentary

Mrs. Ritu Mittal, Joint Managing Director & CEO, commented on the results: "Suraksha reported another quarter of strong top-line growth, driven primarily by test volumes. The QoQ and YoY total revenue growth was 8.3% and 16.9%, respectively."

She added, "As the new centers mature, their margin contributions will increase, moving overall performance closer to industry benchmarks and supporting improved profitability across our network. We remain committed to creating value for our shareholders, driven by innovation, operational excellence and sustainable growth."

Future Outlook

Suraksha Diagnostics is well-positioned for future growth, leveraging its expanded network, advanced genomics capabilities, and strategic acquisitions. The company's focus on innovation and operational excellence is expected to drive long-term value creation for shareholders in the competitive Indian diagnostics market.