M&A
Alpha Corp to invest Rs.750-Cr in stressed assets of EIL
Delhi-based Alpha Corp Development is to invest INR 750 crore into three stressed real estate projects formerly managed by Earth Infrastructure Ltd (EIL). The transaction follows a Supreme Court directive that restored the resolution plans for these projects, providing relief to over 3,000 residential and commercial property buyers.The projects include two IT and ITeS commercial developments, Earth TechOne and Earth Sapphire Court, alongside the 600-unit residential complex Earth Copia located in Gurugram.Founded in 2010, the assets were stalled following insolvency proceedings initiated against EIL in 2018. Alpha Corp plans to fund the capital expenditure through internal accruals and debt, aiming to complete the projects within four years.
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