News: Suraksha Group plans Rs 3,000 crore more to finish all 20,000 Jaypee units by 2028 and eyes three new townships-14-09-2026
Suraksha Group, which took over Jaypee Infratech through insolvency nearly two years ago, said on September 14 that it will invest nearly Rs 3,000 crore over the next two years to complete and hand over all 20,000 housing units by 2028.
Promoter Sudhir Valia said 84 towers with 7,913 units are complete, out of the 159 stalled towers it inherited. About 5,000 units have been handed over and around 3,000 completed units await possession. He expects to finish by March 2028, extendable by up to six months if the National Green Tribunal imposes a construction ban over pollution, and said some buyers not coming forward to take possession is a fresh challenge.
The company has invested around Rs 1,500-2,000 crore so far, mostly on completing apartments. It has customer receivables of around Rs 1,800-2,000 crore and earns about Rs 500 crore a year from Yamuna Expressway tolls.
It also plans three townships across about 465 acres in Noida, Greater Noida and the Yamuna Expressway region: City of the Ganges, Enterprise City and Yamuna Smart City. Jaypee Infratech CEO Abhijit Gohil said two will be residential and one industrial, covering 256, 124 and 85 acres. Executive director Jash Panchamia said they should launch in the current and next financial year.
Suraksha’s upcoming pipeline will include unsold inventory, relaunches and fresh projects, from premium to ultra-luxury homes, plotted development and industrial projects. Panchamia said that with more than 50 per cent of construction done and deliveries on schedule, the company is ready for its next phase of growth.
Insolvency proceedings against JIL began in August 2017 on an application by an IDBI Bank-led consortium, and the NCLT approved Suraksha’s bid on March 7, 2023. Its plan offered bankers more than 2,500 acres and nearly Rs 1,300 crore through non-convertible debentures.
