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Harika Enjamuri

11th Feb 2025 · SEBI-Registered Analyst

NBCC Sells 1,233 Flats for ₹3,217 Crore to Complete Amrapali Projects

NBCC (India) Ltd successfully sold 1,233 flats at Aspire Golf Homes, Greater Noida, through an e-auction, raising ₹3,217 crore. This sale was conducted to generate funds for completing 38,000 stalled Amrapali flats, as per the Supreme Court's directive. The funds will be used for construction, loan repayments, and reducing the backlog of incomplete projects in Noida and Greater Noida. This move is crucial in addressing long-pending homebuyer concerns and accelerating project deliveries under the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) initiative.

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