As per the Monday report, Jaypee Infratech hits the crisis and the consolidated net loss is of Rs 540.03 crore for the quarter ended in December 2021. Its net loss stood at Rs 472.14 crore in the year-ago period.
In the 3rd quarter of this fiscal year its total income rose to Rs 294.76 crore from Rs 248.57 crore in the corresponding period of the previous year.
Last year in June, Suraksha group received the approval of financial creditors and homebuyers to takeover Jaypee Infratech Ltd. through insolvency process, raising hopes for homebuyers of getting possession of their dream flats.
Mumbai-based Suraksha group has promised to complete around 20,000 flats and handover to homebuyers over the next 3-4 years.