Rise Projects

EXECUTIVE SUMMARY

Rise Projects Private Limited, operating under the brand name Rise Group, is a Delhi-registered private limited company incorporated on 6 February 2013. The group is headquartered at 195, Basement, Ram Vihar, East Delhi, Delhi 110092. The business operates primarily in NCR, with projects concentrated in Greater Noida West (Noida Extension), Ghaziabad, and Faridabad. The company is led by CMD and Chief Architect Vaibhav Jain, who has positioned Rise Group as a mid-tier NCR developer focused on mid-to-luxury villa and residential township development. Reported revenue for FY2024 stands at approximately Rs 301 crore, representing a sharp increase from prior years. The group has attracted meaningful attention for its flagship Rise Resort Residences villa township, but this project carries documented OC and registry issues that warrant serious buyer-level scrutiny.

KEY PERFORMANCE METRICS

• Incorporation year: 2013
• Operating history: approximately 12 years
• CIN: U70102DL2013PTC247954
• Status: Active (MCA records)
• Geography: Greater Noida West, Ghaziabad, Faridabad (NCR-focused)
• Delivered projects: 4 projects per management claims (Skybungalows, Organic Homes, Organic Ghar, and select commercial assets)
• Under-construction and partially delivered: Rise Resort Residences (100-acre villa township), Rise Retailia, Rise Golf Villas
• FY2024 revenue: approximately Rs 301 crore (per third-party company database; audited figures not publicly available)
• Paid-up capital: Rs 13.62 crore
• Authorised share capital: Rs 20 crore
• Employees: approximately 14 (per MCA filings as of September 2024)
• Major segments: Residential villas, plotted/villa townships, commercial retail

IMPORTANT CAVEAT

Rise Projects Private Limited is an unlisted, privately held company. No audited consolidated financial statements are available in the public domain. The revenue figure of Rs 301 crore cited for FY2024 is sourced from third-party company databases and is not independently verified. Borrowing figures, EBITDA, PAT, and net worth are not publicly disclosed. Buyers contract with the legal entity Rise Projects Private Limited or project-level SPVs, and independent verification of the exact counterparty for each project is essential before signing any agreement.

COMPANY OVERVIEW AND CORPORATE STRUCTURE

Legal entity: Rise Projects Private Limited. CIN: U70102DL2013PTC247954. Registered under the Registrar of Companies, RoC-Delhi. Registered office: 195, Basement, Ram Vihar, East Delhi, Delhi 110092.

A related entity, Rise Realtech Private Limited (CIN: U70200DL2013PTC254300), is also registered with Vaibhav Jain as director, also incorporated in 2013. Buyers must independently verify which legal entity serves as the promoter for any specific project they are evaluating, as the group operates across at least two corporate vehicles. Projects may be registered under Rise Projects Private Limited or Rise Realtech Private Limited on the UP RERA portal.

The group's use of two separate registered entities means counterparty risk must be assessed at the project level, not just at the brand level.

SISTER COMPANIES AND GROUP ENTITIES

Rise Realtech Private Limited (CIN: U70200DL2013PTC254300) is a group entity incorporated in 2013 with Vaibhav Jain as director, focused on real estate activities. Its precise relationship with Rise Projects Private Limited (whether it holds land, acts as developer, or functions as a development manager for specific projects) is not publicly disclosed and must be independently verified.

Rise India Padhopadhao Private Limited (CIN: U72200DL2014PTC271672) is a separate entity in the name space of the Rise group. This company was admitted to CIRP by the NCLT New Delhi Bench in May 2021. The CIRP was subsequently withdrawn via Section 12A in August 2022. This entity operates in the e-learning or technology sector and is distinct from the real estate development arm, but its existence and the CIRP history should be noted by buyers seeking full promoter-level diligence.

LEADERSHIP AND MANAGEMENT

Vaibhav Jain is the CMD and Chief Architect of Rise Group. He is a qualified architect who, before founding Rise Group, was associated as a design consultant or architect with approximately 45 real estate developers across India. He is credited with the architectural design of over 300,000 housing units as a consultant before launching Rise Group.

Swati Jain is listed as a co-director of Rise Projects Private Limited in MCA records. The exact management role of Swati Jain is not publicly described in company disclosures.

No promoter-level criminal cases, ED, CBI, or EOW actions against Vaibhav Jain or Swati Jain have been identified in publicly available records. However, the NCLT litigation history against Rise Projects Private Limited (detailed in the legal section below) and the CIRP against the group-linked entity Rise India Padhopadhao must be factored into promoter-level diligence.

PROJECT PORTFOLIO ANALYSIS

A. DELIVERED / OPERATIONAL LANDMARKS

Rise Group claims delivery of four residential projects: Skybungalows, Organic Homes, Organic Ghar, and associated commercial assets across Faridabad and Ghaziabad. Skybungalows was delivered across multiple zones including Lal Kuan, NH-24 Ghaziabad, Sector 41 Faridabad, and Suraj Kund Faridabad. These are relatively smaller-scale villa or independent floor projects, not large townships. Delivery of these projects has not been independently audited or verified through OC/CC disclosures in the public domain.

B. KEY ONGOING AND RECENTLY LAUNCHED PROJECTS

Rise Resort Residences, Sector 1 Greater Noida West (Tech Zone IV): The flagship project and the group's most prominent ongoing development. A 100-acre villa township comprising 575 luxury villas across categories including Classic Villas, Sports Villas, Golf Villas, and Leisure Villas. Configurations range from 3 BHK to 6 BHK, with unit sizes from 2,495 sq ft to approximately 9,800 sq ft. Pricing reported across sources at Rs 1.70 crore to over Rs 6.68 crore depending on villa category. RERA registration: UPRERAPRJ7561. Launched in 2016-2017. RERA-stated possession target was July 2022, later revised to October 2024. As of mid-2025, the project is described as partially ready-to-move with limited units delivered. Critically, OC has not been issued for the full project. Registry is currently on hold due to Sports City policy complications, including unmet sports infrastructure commitments and pending dues with Greater Noida Authority. Bank funding for buyers is largely unavailable, with buyers relying on self-funding or NBFC routes.

Rise Square (Palm Street, Madison Square, Broadway Street), Sector 1 Greater Noida: A commercial retail project. RERA number: UPRERAPRJ341534. Launched April 2019 with RERA-stated completion of July 2022. Status beyond that date is not confirmed in public disclosures.

Rise Retailia and Rise Golf Villas: Pipeline commercial and residential projects in Greater Noida West. RERA registration and construction status not fully verified in public sources at time of this report.

C. PIPELINE

Planned projects include Rise Organic Liftopia and Rise Clarks Residences. Specific RERA registrations and launch timelines for these are not publicly confirmed. The group's stated intent is to continue development in Greater Noida West and expand the villa segment.

FINANCIAL ANALYSIS

• FY2024 revenue: approximately Rs 301 crore (third-party database; not independently audited)
• FY2024 revenue change: approximately 163% increase year-on-year (as per the same source, indicating sharp booking recognition)
• EBITDA, PAT, net worth: not publicly disclosed
• Borrowings: not publicly disclosed; movement in borrowings indicated as approximately negative 3.86% year-on-year per third-party data, suggesting some deleveraging, but actual debt quantum is not available
• Paid-up capital: Rs 13.62 crore
• Authorised capital: Rs 20 crore
• Banking facilities: not publicly disclosed; no NCD or publicly rated instrument identified

No audited balance sheet is available in the public domain. Financial data is entirely management-driven and not independently verifiable. The absence of credit rating, audited financials, and public disclosures means buyers cannot assess the group's debt service capacity, land bank valuation, or project-level cash flows with any reliability.

The sharp revenue jump in FY2024 likely reflects recognition of bookings from Rise Resort Residences phases that reached billing milestones. This does not necessarily reflect OC-stage delivery and should not be conflated with completed project revenue.

CREDIT RATING AND LIQUIDITY

No active credit rating from ICRA, CRISIL, CARE, Acuite, India Ratings, Brickwork, or Infomerics has been identified for Rise Projects Private Limited or Rise Realtech Private Limited in publicly available rating databases.

The absence of any rated instrument is consistent with the group's private, unlisted status and reliance on buyer advances and informal credit channels. This is a significant gap for buyers: there is no third-party assessment of the group's liquidity, debt levels, or ability to complete projects independently of customer inflows.

MARKET POSITION AND COMPETITIVE ANALYSIS

Rise Group occupies a niche in the Greater Noida West villa and low-density residential segment. Its 100-acre villa township is an unusual product in the NCR market, where most developers focus on high-rise apartments. The group competes in this format with players such as Gaurs, Ajnara, and SBTL in the broader Noida Extension market, though none of these are direct villa township comparables at the same scale.

Rise Group's brand perception is mixed. While the villa product concept and pricing have attracted buyers, the protracted possession delays at Rise Resort Residences and the OC and registry issues have damaged credibility in buyer communities. The group's claimed association with Amrapali Builders for projects like La Residentia, Silicon City, Zodiac, and Heartbeat City Noida presents an additional reputational dimension, given Amrapali's well-documented insolvency and Supreme Court-monitored resolution history. The nature and financial terms of these construction partnerships are not publicly documented.

REGULATORY COMPLIANCE AND LEGAL STATUS

Rise Projects Private Limited has three legal cases filed against it in publicly available databases.

The most recent and most significant is C.P. (IB)/772/ND/2021 filed by Keya Sen Mitra under the Insolvency and Bankruptcy Code, categorised as a Company Petition IB. The current status of this case in terms of admission or dismissal is not confirmed in publicly available NCLT order logs at the time of this report. Buyers should independently verify the current status of this case directly with the NCLT New Delhi bench.

A separate case, SMC Real Estate Advisors Pvt. Ltd. vs. Rise Projects Pvt. Ltd. (CP(IB)-713/(ND)/2023), was filed before the NCLT New Delhi bench. The NCLT dismissed this petition on grounds that a pre-existing dispute between the parties rendered the IBC application non-maintainable. SMC appealed before the NCLAT, and the matter was listed for hearing before the NCLAT Principal Bench as of April 2026. This case relates to dues claimed by SMC Real Estate Advisors against Rise Projects. The current position before NCLAT is active. This must not be treated as resolved.

A Supreme Court matter, Rise Projects Pvt. Ltd. vs. Ankur Goyal (Filing No. 304/2021, CNR SCIN010003042021), falls under consumer disputes and RERA appeals and was last updated in October 2025. The case status is noted as unknown. This represents an active consumer dispute at the Supreme Court level.

On the RERA front, Rise Resort Residences carries documented concerns: RERA-stated possession of July 2022 has not been met; the project is operating without a full OC; registry of units is on hold pending Sports City compliance issues with Greater Noida Authority. These are regulatory compliance failures material to buyer decisions. Buyers are strongly advised to check the UP RERA portal under UPRERAPRJ7561 for the latest complaint and QPR data.

No ED, CBI, EOW, IT, or SFIO actions against Rise Projects, Rise Realtech, or Vaibhav Jain personally have been identified in public records. The CIRP initiated against the group-linked entity Rise India Padhopadhao Private Limited was admitted in May 2021 and subsequently withdrawn via Section 12A in August 2022. This withdrawal should not be treated as exoneration. It indicates the matter was settled between parties, and the facts underlying the original petition remain uninvestigated in the public record.

CUSTOMER PERSPECTIVE

Customer feedback from public platforms indicates:

• Rise Resort Residences buyers have faced possession delays of over two to three years beyond the RERA-committed date
• A significant concern is the absence of OC and the resultant inability to complete registry, with buyer commentary confirming registry is on hold
• Banks and mainstream housing finance companies are reportedly not extending loans for units in Rise Resort Residences, indicating lender-level concerns about the project's OC and title status
• Some buyers note improved construction pace in recent months, suggesting partial progress
• Sports Villas and Golf Villas subcategories within Rise Resort Residences are described as sold out, indicating strong initial demand
• Limited formal adjudicated complaints from UP RERA are visible in public searches, but the broader OC and registry lockout is a systemic buyer-level concern, not an individual complaint

These are user-submitted observations from public property forums and not adjudicated findings.

RISK ASSESSMENT

A. OPERATIONAL RISKS

• Possession delivery at Rise Resort Residences is significantly behind RERA-stated timelines with OC not yet obtained for the full project
• Sports City policy complications with Greater Noida Authority remain unresolved, tying registry directly to regulatory compliance with the authority
• The group operates with a very small disclosed employee base of approximately 14 persons for a 100-acre township, raising execution capacity questions
• Collaboration with Amrapali for earlier projects introduces association risk given Amrapali's insolvency history

B. FINANCIAL RISKS

• No public debt disclosure, no audited financials, no credit rating, and no banking facility transparency
• Revenue jump in FY2024 may reflect booking recognition rather than delivered and OC-cleared inventory
• Buyer advance dependence is likely high given the absence of institutional debt and banking finance for buyers at Rise Resort Residences
• Contingent liabilities from the NCLT and NCLAT matters are not quantified

C. LEGAL AND GOVERNANCE RISKS

• Active NCLAT matter involving SMC Real Estate Advisors vs. Rise Projects as of April 2026
• Supreme Court consumer matter (Rise Projects vs. Ankur Goyal) with unknown status as of October 2025
• IBC petition C.P. (IB)/772/ND/2021 by Keya Sen Mitra with unconfirmed current status
• Rise India Padhopadhao CIRP history within the promoter group's entity network
• SPV-level counterparty risk: multiple entities under Vaibhav Jain require independent verification per project
• OC and registry lock at the flagship project introduces title-level risk for all buyers who have not yet completed registry

BEST PRACTICE FOR BUYERS

• Verify the exact RERA registration number for the specific project phase: check UPRERAPRJ7561 for Rise Resort Residences and UPRERAPRJ341534 for Rise Square on the UP RERA portal
• Confirm whether the legal promoter on the RERA certificate is Rise Projects Private Limited or Rise Realtech Private Limited for your specific unit
• Obtain the current OC and CC status directly from Greater Noida Authority before committing any final payment
• Confirm registry status and whether Sports City compliance obligations have been met before execution of registry
• Independently verify whether mainstream banks are lending against the specific unit; the absence of bank funding is itself a diligence signal
• Search complaints on UP RERA by the exact entity name (Rise Projects Pvt. Ltd. and Rise Realtech Pvt. Ltd.) separately
• Check NCLT and NCLAT case registers for the current status of all three identified legal proceedings before signing
• Review all agreement clauses on force majeure, OC delivery obligations, and penalty for delay in detail with a property lawyer
• Request QPR reports filed by the promoter with UP RERA for Rise Resort Residences to verify construction and financial milestones

FUTURE OUTLOOK AND STRATEGIC DIRECTION

Rise Group's stated strategy is to deepen its presence in the Greater Noida West villa and low-density luxury segment. Pipeline projects including Rise Organic Liftopia and Rise Clarks Residences represent product diversification attempts. The Jewar International Airport corridor and associated infrastructure upgrades in Greater Noida West provide a genuine medium-term tailwind for projects in this geography. However, the group's ability to capitalise on this tailwind is contingent on resolving the OC and registry issues at Rise Resort Residences, clearing the NCLAT litigation, and demonstrating credible financial depth to scale delivery.

The group's tiny disclosed headcount and the absence of institutional credit infrastructure are significant constraints on execution at scale.

INVESTMENT AND BUYER THESIS

A. STRENGTHS

• Niche villa township product with genuine market differentiation in Greater Noida West
• Vaibhav Jain's architectural background provides product design credibility
• Rise Resort Residences is a large-scale 100-acre project in a location benefiting from Jewar Airport and NCR infrastructure growth
• Reported FY2024 revenue growth suggests commercial momentum

B. CONCERNS

• OC not obtained for Rise Resort Residences despite the project being years past RERA-stated possession dates
• Registry on hold due to Sports City compliance issues with Greater Noida Authority
• Multiple active legal proceedings at NCLT, NCLAT, and Supreme Court level
• Complete absence of publicly available audited financials, credit rating, or debt disclosure
• Bank financing unavailable to buyers at the flagship project
• CIRP history in related group entity

C. OPPORTUNITIES

• Jewar Airport corridor appreciation could significantly lift asset values in Greater Noida West
• Low-density villa product remains underserved in NCR at mid-to-luxury price points
• If OC and Sports City compliance issues are resolved, pent-up demand from existing buyers could accelerate sales velocity

D. WATCHPOINTS

• Resolution of SMC Real Estate Advisors vs. Rise Projects NCLAT matter
• Status of C.P. (IB)/772/ND/2021 at NCLT
• OC issuance timeline for Rise Resort Residences
• Registry opening for existing unit holders
• Whether FY2025 financials, when filed, show improvement or stress in borrowings and cash position

CONCLUSION

Rise Projects Private Limited is a small, privately held NCR developer with an architecturally distinctive villa township product and a reported revenue trajectory that suggests commercial activity. However, the group carries meaningful unresolved risks. The flagship Rise Resort Residences project, after nearly eight years since launch, continues to operate without a full OC, with buyer registry on hold due to unresolved Sports City obligations with Greater Noida Authority. Multiple legal proceedings, including an NCLAT matter active as of April 2026 and a Supreme Court consumer dispute, remain open. The complete absence of audited financials, credit ratings, and banking facility disclosures makes independent financial assessment impossible. For homebuyers, the combination of OC uncertainty, registry lockout, bank funding unavailability, and active litigation warrants exceptional caution and thorough independent verification before any commitment.

DISCLAIMER

This report is based on publicly available information only. It is intended for due-diligence and research purposes, not investment advice. All financial metrics, project statuses, legal proceedings, and regulatory information are point-in-time and may change. Buyers and investors should independently verify all information from official RERA portals, company filings, court records, rating reports, and legal advisors before making any decision.

Source note: Prepared using publicly available information from regulatory portals, company filings, rating reports, court records, official disclosures, and reputed business media.