NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects at Rs 9,445 cr cost

NBCC has been appointed to oversee the completion of 16 stalled Supertech real estate projects, encompassing nearly 50,000 homes across four states. The project, estimated at Rs 9,500 crore, will be managed by NBCC over three years with an 8% con...

By PTI | Updated: Dec 12, 2024, 06.52 PM IST

New Delhi, State-owned NBCC has been appointed as a project management consultant to complete Supertech Ltd's 16 real estate projects at a cost of nearly Rs 9,500 crore, a move that will provide relief to thousands of homebuyers. In a regulatory filing on Thursday, the company informed that the National Company Law Appellate Tribunal (NCLAT), vide its order dated December 12, 2024, has "appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd".

NBCC will complete 16 projects, comprising 49,748 houses in Uttar Pradesh, Uttarakhand, Haryana and Karnakata.

"The tentative construction cost of the project is approx Rs 9,445 crore, including 3 per cent contingency. The consultancy fee has been fixed as 8 per cent, including 1 per cent marketing fee," NBCC said.

In a separate filing, the company said it has been appointed as a consultant "with no liability, and it will complete the Supertech projects within three years".

The public sector company is mainly in project management consultancy (PMC) and real estate business.

NBCC is already completing stalled projects of Amrapali Group on the order of the Supreme Court.

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