NBCC floats Rs 9,620-crore tenders to revive 16 stalled Supertech projects

New Delhi: State-owned NBCC (India) Ltd has floated construction tenders worth Rs 9,620.33 crore for 16 stalled housing projects of debt-ridden Supertech Ltd, marking a major step towards restarting projects that have left thousands of homebuyers waiting for possession for years.

Follow The PSUWatch Channel on Whatsapp

NBCC said it has invited 25 tenders covering construction and related works across the 16-project portfolio, which comprises nearly 50,000 housing units spread across Uttar Pradesh, Haryana, Uttarakhand and Karnataka.

"NBCC (India) Limited has taken a major step towards the revival of 16 stalled residential projects of Supertech Limited by floating 25 tenders aggregating Rs 9,620.33 crore for construction and related works across the project portfolio," the company said.

The tendering is significant because it moves the Supertech resolution process from prolonged litigation and planning towards actual execution.

The projects have been stuck for years amid Supertech's financial troubles and insolvency proceedings, leaving thousands of buyers facing delayed possession as well as, in many cases, the financial burden of servicing home loans while paying rent.

Supertech's insolvency proceedings were initiated following a petition by Union Bank of India. With several housing projects remaining incomplete, homebuyers subsequently pushed for completion of their homes rather than allowing the assets to remain stalled indefinitely.

In December 2024, the National Company Law Appellate Tribunal (NCLAT) approved NBCC's proposal to act as Project Management Consultant for completion of 16 projects. The portfolio covered close to 50,000 housing units and was then estimated to require construction expenditure of around Rs 9,445 crore.

The plan, however, faced a legal hurdle when the Supreme Court stayed the NCLAT order in February 2025 while considering competing proposals and questions surrounding the resolution process.

That uncertainty ended in February 2026 when the Supreme Court upheld the NCLAT's decision to bring NBCC on board. The apex court held that entrusting the unfinished projects to NBCC was neither unfair nor contrary to the Insolvency and Bankruptcy Code and directed the PSU to deploy resources to complete the projects within the prescribed timelines.

That uncertainty ended in February 2026 when the Supreme Court upheld the NCLAT's decision to bring NBCC on board. The apex court held that entrusting the unfinished projects to NBCC was neither unfair nor contrary to the Insolvency and Bankruptcy Code and directed the PSU to deploy resources to complete the projects within the prescribed timelines.

The court also put homebuyers at the centre of the resolution framework, directing that completion and handover of homes should proceed without being derailed by competing creditor and authority claims. It also sought to prevent further legal proceedings from obstructing NBCC's construction work.

Follow PSU Watch on LinkedIN

The latest tendering therefore represents the first major execution-stage test of that judicially backed revival plan.

An Apex Court Committee overseeing implementation had recently indicated that construction across the 16 projects was targeted to begin from January 16, 2027, with tender packages scheduled to be issued during October. Funding arrangements, verification of unsold inventory and a techno-economic viability assessment are also part of the implementation exercise.

For homebuyers, however, floating the tenders is only the beginning. The key test will be how quickly contracts are awarded, contractors are mobilised and physical construction resumes at sites that have remained stalled for years.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated.)