New Delhi: State-owned NBCC (India) Limited has taken a major step towards the revival of 16 stalled residential projects of Supertech Limited by floating 25 tenders worth ₹9,620.33 crore for construction and related works.
The projects, spread across Uttar Pradesh, Haryana, Uttarakhand and Karnataka, comprise nearly 50,000 housing units. The tendering marks a significant shift in the Supertech resolution process from prolonged litigation and planning towards actual execution, offering renewed hope to thousands of homebuyers who have been waiting for possession for years.
NBCC was appointed as the Project Management Consultant (PMC) for completing the stalled projects by the National Company Law Appellate Tribunal (NCLAT) in December 2024. The Supreme Court subsequently upheld NBCC’s mandate in February 2026, providing legal certainty for implementing the completion plan.
NBCC Floats 25 Tenders Worth ₹9,620 Crore
According to NBCC, the 25 tenders cover construction and related works across the entire portfolio of 16 Supertech projects.
The key details include:
- 25 tenders floated by NBCC.
- Total tender value of ₹9,620.33 crore.
- 16 stalled residential projects covered under the plan.
- Nearly 50,000 housing units involved.
- Projects spread across Uttar Pradesh, Haryana, Uttarakhand and Karnataka.
- NBCC appointed as Project Management Consultant for completion of the projects.
The tendering process is an important execution-stage development after years of financial difficulties, insolvency proceedings and legal challenges surrounding the projects.
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Supertech Homebuyers Face Years of Delay
The stalled Supertech projects have left thousands of homebuyers facing prolonged delays in getting possession of their homes. Many buyers have also had to manage the financial burden of servicing home loans while paying rent during the extended construction delays.
Supertech’s insolvency proceedings were initiated following a petition filed by Union Bank of India. As several residential projects remained incomplete, homebuyers pushed for completion of their homes rather than allowing the projects and underlying assets to remain stalled indefinitely.
The latest tendering by NBCC is expected to provide some relief to buyers, although the actual completion of the projects will depend on the award of contracts, mobilisation of contractors and the resumption of physical construction at individual project sites.
NCLAT Appointed NBCC as Project Management Consultant
In December 2024, the National Company Law Appellate Tribunal (NCLAT) approved NBCC’s proposal to act as the Project Management Consultant for completing 16 stalled Supertech projects.
The portfolio covered close to 50,000 housing units and was initially estimated to require construction expenditure of around ₹9,445 crore.
The NCLAT decision, however, faced a legal challenge. The Supreme Court stayed the order in February 2025 while considering competing proposals and issues related to the resolution process.
The legal uncertainty was subsequently resolved in February 2026 when the Supreme Court upheld the NCLAT’s decision to bring NBCC on board for completion of the projects.
Supreme Court Backs NBCC’s Completion Plan
The Supreme Court held that entrusting the unfinished Supertech projects to NBCC was neither unfair nor contrary to the Insolvency and Bankruptcy Code (IBC).
The apex court directed NBCC to deploy the necessary resources to complete the projects within the prescribed timelines. It also placed homebuyers at the centre of the resolution framework, emphasising that completion and handover of homes should not be derailed by competing claims from creditors and authorities.
The court also sought to ensure that further legal proceedings do not obstruct NBCC’s construction activities.
With the legal position settled, NBCC’s latest tendering marks a significant move towards implementing the court-backed revival plan on the ground.
Construction Targeted to Begin From January 2027
An Apex Court Committee overseeing the implementation has indicated that construction across the 16 projects is targeted to begin from January 16, 2027.
Tender packages were scheduled to be issued during October, and NBCC has now floated 25 tenders covering the required construction and related works.
The implementation exercise also involves several other activities, including:
- Funding arrangements for the projects.
- Verification of unsold inventory.
- Techno-economic viability assessment.
- Award of construction contracts.
- Mobilisation of contractors at project sites.
- Resumption and monitoring of physical construction.
These steps are intended to establish the financial and operational framework required for completing the long-stalled projects.
Tendering Marks Beginning of Execution Phase
The floating of tenders represents an important milestone because the Supertech resolution process is now moving beyond litigation and planning towards execution.
However, for homebuyers, the tendering process is only the beginning. The key test will be how quickly the tenders are finalised, contracts are awarded, contractors are mobilised and construction resumes at sites that have remained incomplete for years.
The successful implementation of the plan could help bring thousands of delayed homes closer to completion while providing greater certainty to affected homebuyers.
About NBCC
NBCC (India) Limited is a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs. The company is engaged in project management consultancy, engineering, procurement and construction activities, particularly in infrastructure and redevelopment projects. NBCC undertakes projects for various government departments and organisations across India and abroad.
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