JSW Infrastructure completed the acquisition of NCR Rail Infrastructure Limited on September 10, 2026, for a cash consideration of Rs 467.47 crore. The transaction was executed through its step-down wholly owned subsidiary, Khurja Rail Terminal Private Limited.
The move follows the implementation of the Resolution Plan under the Insolvency and Bankruptcy Code, 2016. The National Company Law Tribunal, Mumbai Bench II, had approved the plan on January 22, 2026. Consequently, NCR Rail and its wholly owned subsidiary, AMD Business Support Services Private Limited, have become step-down wholly owned subsidiaries of JSW Infrastructure.
NCR Rail owns and operates a Private Freight Terminal in Khurja, Uttar Pradesh. The facility features six rail lines and is located approximately 90 km from New Delhi and 40 km from the upcoming Jewar Airport. It includes two covered operational warehouses spanning roughly 0.2 million square feet and a land bank of approximately 130 acres.
As part of the resolution plan, the company also paid Rs 41.94 crore to acquire approximately 39.57 acres of land from Arshiya Limited. The acquisition aims to integrate and expand JSW Infrastructure’s logistics business operations.
NCR Rail reported revenue from operations of Rs 11.19 crore in FY26, up from Rs 10.10 crore in FY25 and Rs 8.63 crore in FY24. However, the entity reported net losses over the same period, Rs 25.96 crore in FY26, Rs 23.34 crore in FY25 and Rs 1,367.12 crore in FY24. The net worth of NCR Rail stood at negative Rs 2,168.69 crore as of FY26, reflecting its financial position prior to the resolution plan implementation, with liabilities addressed according to the terms of the approved plan.
AMD Business Support Services Private Limited, incorporated on November 24, 2009, is a non-operational entity, acquired for a nominal cost of Rs 1,00,000.
