Amrapali buyers are getting a home, NBCC sold 1233 flats for Rs 3217 crore

Amrapali Projects: Public sector NBCC has sold 1,233 flats for Rs 3,217 crore through e-auction in a new project in Greater Noida. This will help the company to complete the stalled projects of the bankrupt Amrapali Group. 

As per the order of the Supreme Court, 'Amrapali Stalled Projects Investments Reconstruction Establishment' (ASPIRE) has been formed to complete the stalled projects of Amrapali through NBCC (India) Limited. The public sector company has been asked to complete 38,000 flats and hand them over to home buyers.

1507 flats in 11 towers

In a statement issued by NBCC, it was said that it has sold 1,233 flats in Aspire Golf Homes through e-auction. Excluding the related charges, a total sale price of Rs 3,216.95 crore has been received. The project 'Aspire Gold Homes' has 1,507 flats in 11 towers. NBCC had earlier sold 274 flats. 

The auction saw a tremendous response. The bids were much higher than the reserve price. According to the statement, 'This money will help in meeting the fund needs of the ongoing projects including bank loan repayment.

' This sale will help in completing the stalled Amrapali project and will fulfill the dream of many home buyers to have their own house.

Profit increased 25 percent to Rs 138.47 crore

On the other hand, the integrated net profit of NBCC Limited for the quarter ended December 2024 has increased by 25 percent to Rs 138.47 crore. The company's profit has increased due to increase in income. In the same period a year ago, the company had an integrated net profit of Rs 110.74 crore. 

According to a regulatory information, the total income of the company increased to Rs 2,882.16 crore in the third quarter of the current financial year, as against Rs 2,482.41 crore in the same period last year. NBCC is in the project management consultancy (PMC) and real estate business.