Jaypee Infratech's Financial Turnaround: Suraksha Group's Strategic Move

Jaypee Infratech Ltd saw a turnaround, reporting a net profit of Rs 88.20 crore in the September quarter. This comes after the Suraksha Group's takeover, which aims to resolve stalled housing projects and settle financial claims. Legal challenges against the acquisition remain ongoing.

Jaypee Infratech Ltd has achieved a remarkable financial turnaround, reporting a consolidated net profit of Rs 88.20 crore for the September quarter, a significant improvement from a net loss of Rs 588.31 crore in the same period last year.

The turnaround follows the acquisition by the Suraksha Group, which assumed control of Jaypee Infratech Ltd following a decisive NCLAT ruling in May 2024. The group has begun infusing funds and making preparations to restart stalled housing projects affecting around 20,000 homebuyers.

Despite the progress, legal contests persist as various parties, including the Yamuna Expressway Industrial Development Authority, have challenged the NCLAT decision in the Supreme Court. The Suraksha Group's resolution plan includes offering over 2,500 acres of land and committing to complete stalled projects within four years.

(With inputs from agencies.)