NEW DELHI- NBCC, known for its expertise in government infrastructure, took on the massive task of reviving Amrapali’s stalled projects after a Supreme Court directive. Under the guidance of Ld. Court Receiver, NBCC faced a tough challenge—unfinished buildings, legal hurdles and flawed documentation. Yet, their efforts not only resumed construction but also helped restore the trust of thousands of affected homebuyers.
Reviving the Amrapali projects was a major challenge for NBCC. Work was disrupted by the COVID-19 pandemic, funding was hard to secure, and buyer contributions were inconsistent. Legal hurdles, incomplete documentation, and lack of approvals further delayed progress. Construction faced difficulties in occupied societies, including limited shutdown windows and delays in infrastructure handovers.
Many unfinished units had deteriorated, requiring quality restoration. Selling unsold inventory was tough due to the tarnished Amrapali brand, and construction was often halted by pollution-related restrictions. Throughout, NBCC had to work hard to rebuild buyer trust and confidence in the project’s completion.
NBCC overcame the challenges of reviving Amrapali projects through its strong expertise in project management, engineering, and financial restructuring. A systematic and disciplined approach was adopted to assess project status, resolve structural issues, and ensure quality compliance. Advanced construction techniques like Mivan shuttering were used, and third-party quality inspections were carried out by agencies such as NIT-Jalandhar and VNIT-Nagpur. Labourers and engineers received special training to maintain high construction standards.
To address funding issues, NBCC worked with the Ld. Court Receiver to encourage payments from defaulters, including public notices sanctioned by the Hon’ble Supreme CourtMonitored Committee. Sales of unsold units and FARs were initiated and third-party consultants were engaged to speed up inventory sales. These efforts improved cash flow, a major bottleneck in project execution.
Owing to the efforts of Ld. Court Receiver and the NBCC team, significant financial backing was secured. SBICAP Ventures Ltd. sanctioned the funding of Rs. 650 Cr. At present, repayment of loan to SBICAP has been done. Further, a consortium has been constituted of 07 banks namely Bank of Baroda (Lead Bank), Indian Bank, State bank of India, Punjab National Bank, UCO Bank, Bank of India and Punjab & Sind Bank for funding of Rs. 1500 Cr. The repayment of consortium of bank has already been started from March 2024.
As a result of these measures, nearly 25,000 units have been completed and thousands of units have been delivered to Home buyers, marking a major milestone in the revival of Amrapali projects.
NBCC has completed 17 projects namely Eden Park, Sapphire-1, Sapphire-2, Princely Estate, Silicon City-1, Silicon City-2, Platinum & Titanium, Zodiac in Noida, Castle, Leisure Valley Villas, Centurian Park Low Rise & O2 Valley, Kingswood, Leisure Park, Golf Homes, Dream Valley Villas, Dream Valley Enchante in Greater Noida and IMT Manesar in Gurugram.
New Project Launches at Amrapali
Recently NBCC has successfully completed e-auction for 4 new FAR projects of Amrapali -(Aspire Golf Homes, Aspire Centurian Park, Aspire Dream Valley and Aspire Leisure Park) with a total of 4024 residential units (having saleable area of 10.49 million sq. ft.) with a total sale value of Rs. 8227.92 Cr. These e auctions will be instrumental in completion of the stalled Amrapali Projects and fulfil the dreams of owning their homes by many home buyers. The generated fund shall also be able to reduce the piling up of stalled projects of Noida/Gr.Noida substantially once the existing units get completed.
Inspirational Leadership
NBCC’s CMD Shri K. P> Mahadevaswamy had earlier led Amrapali Projects as project head and now currently heads NBCC as CMD. His efforts have been instrument in turning around HSCL from a loss making unit to a Mini ratna organization. He has been key to the successful implementation of Amrapali projects. Similarly NBCC has made strides in redevelopment projects. Now NBCC is in the process of taking this model to many other states apparat from New Delhi.
Redevelopment Projects in Delhi
NBCC has a long-standing legacy in urban redevelopment. NBCC, being a major implementing agency of the Government of India, of late it has been shouldered with the responsibility to take up redevelopment of Government properties. Beginning with the maiden redevelopment project named GPRA Complex, New Moti Bagh, New Delhi – the IGBC certified largest Green Home complex of its kind in India and redevelopment of East Kidwai Nagar, New Delhi, the company now counts on many such projects including Nauroji Nagar, Sarojini Nagar and Netaji Nagar in New Delhi.These projects exemplify NBCC’s commitment to innovative design, sustainable practices, and community-focused development. With a wealth of experience in transforming urban spaces, the Indian Government entrusted NBCC with the significant task of redeveloping the 7GPRA colonies.NBCC is re-developing Nauroji Nagar, Sarojini Nagar and Netaji Nagar while CPWD is executing the other four colonies, ie Kasturba Nagar, Thyagraj Nagar, Srinivaspuri and Mohammadpur. These four projects executed by CPWD are also being funded through the funds generated by NBCC through sale of commercial space of the colonies allotted to NBCC for redevelopment.
Robust Order Book and Revenue Growth
With an order book valued over Rs 125,000 Crore (consolidated), NBCC expects sustained growth in the coming years. The company reported a revenue of ₹8,900 crore in FY23, followed by ₹10,666 crore in FY24 and anticipates meeting its targets in this FY.
Looking Ahead
NBCC’s strategic pivot toward large-scale redevelopment, its proven funding model, and expanding footprint across Indian states positions the company as a central player in India’s urban infrastructure transformation. With a clear growth trajectory and increasing state partnerships, the company appears well on course to rise higher.
