Major residential property developer Bathla Group has entered voluntary administration, raising serious concerns for homebuyers, employees, contractors and suppliers across Western and North West Sydney. Restructuring firm Teneo Australia has been appointed as voluntary administrator. Its immediate priority is to stabilise the group’s operations, work with lenders and other key stakeholders, support employees and continue the delivery of projects where possible.

Bathla Group founder and managing director Bhart Bhushan described the decision as an “orderly restructure” of the business. “Our first thoughts are with our employees and the customers who have put their faith in us to deliver their dream of home ownership,” Mr Bhushan said. “It is my sincere hope this process can allow that to happen by working collaboratively with the administrators, our suppliers, contractors and lending partners.”

The group attributed its financial difficulties to a combination of weaker property sales, falling confidence in key markets, federal budget changes and substantial increases in construction costs. Founded in New South Wales in 1997, Bathla Group has become a major developer of affordable housing estates, townhouses and apartments. Its operations have expanded across New South Wales, Victoria and South Australia.

Federal Member for Greenway and Attorney-General Michelle Rowland said the announcement would be deeply distressing for families who had invested their savings in a new home. “I am deeply concerned by today’s news that the Bathla Group has entered voluntary administration,” Ms Rowland said. “This will be incredibly distressing for families across Greenway and North West Sydney who have invested their hard-earned savings in a new home and now face significant uncertainty.”

Ms Rowland said people who had paid deposits had a reasonable expectation that their homes would be completed. Residents who had already moved into Bathla-built properties also deserved confidence that defects and other outstanding matters would be addressed.

She confirmed that the NSW Government would work with the administrators to understand the implications of the appointment.

The administration is expected to affect a large number of buyers, investors, employees, subcontractors and suppliers. Customers awaiting construction or settlement are advised to retain all contracts, payment records and correspondence, and closely monitor official updates from Teneo and Bathla Group.

Voluntary administration does not automatically mean that a company will cease operating. The process allows administrators to examine the group’s financial position and recommend the best available course for creditors and the business.

Further information about individual projects and the future of the group is expected as the administrators complete their initial assessment.

Indus Age invites affected homebuyers, residents, contractors, suppliers and employees to share their experiences. Those impacted by the Bathla Group’s voluntary administration can contact us confidentially at mail@indusage.com.au

  Michelle Rowland voices concern as Bathla Group administration leaves Western Sydney homebuyers uncertain