Bathla Group, one of Sydney’s most prolific developers of lower-cost housing, has fallen into voluntary administration after a mounting financial crisis engulfed its sprawling property empire.
Advisory firm Teneo has been appointed administrator of Bathla’s main corporate entity, Universal Property Group, as well as Raj & Jai Construction, the company responsible for construction across parts of the group’s development pipeline.
The administration places a major spotlight on the future of projects across Sydney’s rapidly growing western corridors, as well as the impact on home buyers, contractors, employees and lenders with potentially billions of dollars exposed to the group.
Teneo’s Head of…