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NBCC appointed as consultant to complete Supertech's 16 real estate projects at Rs 9,445 cr cost

  • by Psu Connect
  • Date: 13-12-24

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

NBCC appointed as consultant to complete Supertech's 16 real estate projects at Rs 9,445 cr cost
NBCC appointed as consultant to complete Supertech 16 real estate projects at Rs 9,445 cr cost

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.

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"The tentative construction cost of the project is approx Rs 9,445 crore, including 3 percent contingency. The consultancy fee has been fixed as 8 percent, including a 1 percent 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.

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