NBCC (India) Ltd. has been granted preliminary approval by the Greater Noida Authority to undertake the revitalization of the troubled Amrapali projects, with an estimated value of Rs 10,000 crore, situated near the satellite city of Delhi.
The approval encompasses the redevelopment of the unused and available floor area ratios within five of Amrapali’s existing projects, as disclosed in an exchange filing on Wednesday.
These projects include Centurian Park, GH-05, Sector Tech Zone-IV, Greater Noida; Golf Homes, GH-02, Sector-4, Greater Noida; Leisure Park, GH-01, Tech Zone-IV, Greater Noida; Leisure Valley, GH-02, Tech Zone-IV, Greater Noida; and Dream Valley, GH-09, Tech Zone-IV, Greater Noida.
Following a mandate from the Supreme Court in 2019, NBCC was entrusted with the completion of 38,159 units within the Amrapali projects, along with the finalization of shared amenities within these developments.
NBCC has successfully delivered approximately 13,500 homes in the stalled housing projects of Amrapali across Noida and Greater Noida and aims to construct the remaining nearly 25,000 apartments by March 2025.
Earlier this week, NBCC announced securing three significant work orders totaling Rs 369.05 crore, acquired through standard business procedures.
One of the projects involves the construction of facilities for the Rani Lakshmi Bai Central Agricultural University in Jhansi, Datia, and the forthcoming campuses in Morena and Khajurao, Newari, with a value of Rs 331.9 crore.
Additionally, NBCC won a bid to construct a single-court complex and residential quarter in Boath, Adilabad district, Telangana, valued at Rs 12.17 crore.
The third project pertains to the renovation and furnishing of the ICAI Bhawan in Noida, Uttar Pradesh, awarded by the Institute of Chartered Accountants of India (ICAI), with a value of Rs 24.98 crore.
Shares of NBCC (India) Ltd closed at Rs 139.30.
