Bathla Group faces imminent collapse without urgent funding, administrators warn

Administrators of major property developer Bathla Group have warned that the business does not have enough money to survive until the end of this week unless it secures urgent funding to pay staff.

Some of the company's 350 staff have not been paid for eight weeks, administrators Teneo said in a press conference.

"We can't go to the end of the week if we don't have money for payroll on Thursday," Stephen Longley, Teneo's senior managing director, said.

"We don't have any cash to pay wages [and] we don't have any cash to pay suppliers.

"So unless that situation can be resolved, we won't have any other option but to close the business."

Administrators were appointed last Tuesday after Bathla was unable to pay debts that topped $3.2 billion.

On Thursday, administrators asked for a cash injection of $20 million to keep the business afloat.

The NSW government has declined to provide a lifeline but they are hopeful someone else might step forward.

Teneo also said it had borrowed $1 million from its own head office so Bathla Group could afford to pay for vehicle registrations, petrol and "just to keep the lights on".

"But that can't last," Mr Longley said.

Bathla Group currently has more than 200 development projects across Sydney.

The administrators have said they will give priority to 45 of the projects which are already under construction and can be completed by February or March, if they secure more funding.

Those "will deliver somewhere between 2,000 and 2,500 homes. So that's really what we're focused on," Mr Longley said.

"The lenders are very keen for those sites to be finished, so I think subcontractors that are working on the sites will be looked after in time and will be paid," he added.

"We just need to get through this week to work out the funding arrangement to do that."

Administrators are hoping a $20 million cash injection could keep Bathla going for another month to give them the chance to identify where the "real need" was into the future.

A "handful" of staff were stood down on Friday, and a review is underway to ascertain which ones are "mission critical" and which ones can be "let go".

That could affect Bathla's foreign workers who are on temporary visas, the administrator noted.