Jaypee also have real estate holdings. I believe they own the land the circuit is built on. After all, the original name of the circuit was the Jaypee Group Circuit
Whatever the case, they are a private contractor. Buddh International is a specialised job, which is why Jaypee received the contract – only a handful of organisations could actually do it. Given that they’ve been in business since 1957, I’d say they’re a fairly safe pair of hands. Concerns that the facilities are going to collapse are unfounded.
Besides, the Commonwealth Games this was overblown. A lot of media outlets were reporting that conditions in the athletes’ village were unsanitary, but as the story kept going, it became fairly obvious that journalists were in incompelte buildings that were the last ones scheduled to be finished. The collapse of the bridge was a big deal, but the journalists were just fishing for a bigger story.