State-owned NBCC, which is in the race to buy Jaypee Infratech Ltd NSE 4.55 % (JIL), on Sunday assured stuck homebuyers that its bid is concrete, fully backed by the government and the PSU would complete over 20,000 pending flats on time as per the schedule. A day before the beginning of the voting process, the two contenders NBCC NSE 5.48 % and Suraksha held separate webinars on Sunday with hundreds of homebuyers to enlighten their resolution plans and address doubts of flat owners.
In the webinar, NBCC expressed confidence that it would get approval from Yamuna Expressway Industrial Development Authority (YEIDA) to hive off Yamuna Expressway to a Special Purpose Vehicle (SPV) and the transfer of 90 per cent stake to bankers.
NBCC CMD, P K Gupta said, the firm has enhanced its plan compared with its 2019 bid, by making provisions of 100 acre land for delayed penalty.
"Our plan is very concrete and everything is very clear. We cannot hide anything. We have tried to improve the plan from the last time," Gupta said. "We get support from the government and we are responsible to the government," he proclaimed.
The NBCC CMD said that tower-wise delivery schedules have been offered in the bid.
Asserting that NBCC has a major presence in the Delhi-NCR market, Gupta stated, "In no time we can mobilise technical and financial resources to start the projects."
He added there is no additional burden on the homebuyers in its resolution plans. "If we are not able to sell the land, we will still be able to complete their projects."
NBCC's Senior Executive Director (Project) Yogesh Sharma spoke the NBCC has put a bid to acquire JIL, with "full backing of the government." He said the 70 per cent of the pending flats would be finished over the next two and a half years.
Sharma articulated confidence that bankers would encourage its bid as they did in 2019. He said the firm is offering Rs 8,700 crore to banks as against