Nimbus Projects Limited (NIMBSPROJ)

Nimbus Projects Limited has finalized terms to avail an unsecured credit facility of up to Rs 60.00 crore from its associate company and promoter group entity, Nimbus (India) Limited. The loan carries an interest rate of 12% per annum with a tenure of 2 years and will be disbursed in tranches for business purposes. The borrowing is significant, representing approximately 28% of the company's existing debt of Rs 211 crore and 26% of TTM revenue. Shareholders previously approved this related-party transaction via special resolution at the AGM on September 29, 2026.

• Unsecured credit facility finalized up to Rs 60.00 crore in tranches
• Interest rate fixed at 12% per annum for a 2-year tenure
• Nimbus Projects holds 42.69% in the lender, while the lender holds 9.43% in Nimbus Projects
• Transaction approved by shareholders at the AGM held on September 29, 2026

Nimbus Projects Limited has appointed Mr. Anand Kumar (DIN: 03194060) as the Non-Executive Chairman of the Board, effective November 5, 2026. Mr. Kumar, who currently serves as a Non-Executive and Non-Independent Director, will take on this additional role and receive sitting fees for attending board meetings. This internal leadership elevation comes as the real estate firm reports a TTM net loss of Rs 49 Cr on TTM revenue of Rs 227 Cr. The company's market capitalization stands at Rs 479 Cr with a debt burden of Rs 211 Cr.

• Appointment of Mr. Anand Kumar as Non-Executive Chairman effective November 5, 2026
• Mr. Kumar continues his existing role as Non-Executive and Non-Independent Director
• Remuneration limited to sitting fees payable to Non-Executive Directors
• Board meeting commenced at 03:00 p.m. and concluded at 08:00 p.m. on November 5, 2026

Nimbus Projects announced that Mr. Bipin Agarwal (DIN: 00001276) stepped down as Chairman of the company effective November 05, 2026. He will continue to serve as Managing Director with no changes to his appointment terms or remuneration. The separation of the Chairman and Managing Director roles was undertaken pursuant to the implementation of discretionary corporate governance requirements. This administrative realignment takes place as the company operates with a market cap of ₹479 Cr and reported TTM revenue of ₹227 Cr with a net loss of ₹49 Cr.

• Mr. Bipin Agarwal steps down from the role of Chairman effective November 05, 2026
• Continues as Managing Director and Key Managerial Personnel with no change in terms or remuneration
• Change executed to comply with discretionary corporate governance practices separating Chair and MD roles
• Board meeting approving the change was held on November 05, 2026, from 03:00 p.m. to 08:00 p.m. IST

Nimbus Projects Limited released its corporate investor presentation for Q2 FY27 following its board meeting on November 5, 2026. The company highlighted FY26 pre-sales of ₹417.1 crore (₹4,171 mn) and FY26 turnover of ₹228.8 crore (₹2,288 mn), up 28% year-on-year. The presentation outlines a pipeline including the revival of 'The Arista Luxe' project with an estimated revenue potential of ~₹1,900 crore (~₹19,000 mn), representing over 8x its TTM revenue of ₹227 crore. Net debt to equity stood at 0.76x as of September 2026, with a target to reduce it below 0.5x.

• Achieved FY26 pre-sales of ₹4,171 mn and turnover of ₹2,288 mn (up 28% YoY)
• Net debt to equity stood at 0.76x as of September 2026 with a long-term target below 0.5x
• Revival of The Arista Luxe project carries an estimated revenue potential of ~₹19,000 mn
• Portfolio encompasses ~10 mn sq ft across 13 projects with 7,300+ homes planned or delivered
• The Palm Village project is 83% sold out within ~2.5 years of launch

Nimbus Projects reported its financial results for the quarter and half-year ended September 30, 2026. For Q2 FY27, standalone revenue from operations stood at ₹0.38 Cr (₹37.66 lakhs), with a net loss after tax of ₹9.58 Cr (₹957.70 lakhs) compared to a loss of ₹25.78 Cr in Q2 FY26. For the Nimbus Group, H1 presales booking value grew 36.41% YoY to ₹235.49 Cr (23,549 lakhs) compared to ₹172.63 Cr in H1 FY26, while customer collections increased 12.73% to ₹129.86 Cr.

• Standalone Q2 FY27 revenue from operations came in at ₹37.66 lakhs, with total revenue including other income at ₹129.34 lakhs
• Standalone net loss after tax narrowed to ₹957.70 lakhs in Q2 FY27 compared to a loss of ₹2,577.50 lakhs in Q2 FY26
• Group H1 presales booking value grew 36.41% YoY to ₹23,549 lakhs (₹235.49 Cr)
• Customer collections for H1 reached ₹12,986 lakhs (₹129.86 Cr), an increase of 12.73% YoY
• Company reported cumulative investments of Rs 440.86 Crore till September 30, 2026 in specified projects

Nimbus Projects Limited has converted its partnership firm, IITL Nimbus The Hyde Park, into a private limited subsidiary named IITL Nimbus The Hyde Park Private Limited. The company holds a 66.66% stake (2,50,000 equity shares) for a capital contribution conversion of ₹25 lakh, while promoter Bipin Agarwal holds the remaining 33.37%. The converted entity recorded turnovers of ₹1.60 crore in FY26, ₹0.07 crore in FY25, and ₹3.86 crore in FY23-24, representing less than 1% of Nimbus's TTM revenue of ₹228 crore.

• Converted partnership firm into a subsidiary with ₹25,00,000 paid-up share capital
• Nimbus Projects holds 66.66% (2,50,000 shares) and Managing Director Bipin Agarwal holds 33.37% (1,25,000 shares)
• Target entity generated a turnover of ₹1.60 crore in FY26, ₹0.07 crore in FY25, and ₹3.86 crore in FY24
• Authorized share capital of the new entity is ₹50,00,000

Nimbus Projects Limited has entered into a Strategic Investment Agreement with Sankalp Agencies Private Limited (SAPL) to invest ₹15.00 crore in tranches. The investment funds a commercial real estate project on 6,252.60 sq. m. (67,303 sq. ft.) of freehold land in Hari Nagar, New Delhi, acquired by SAPL via DDA e-auction. Nimbus Projects does not acquire equity in SAPL but will receive its principal back along with a return tied to overall project profitability until the Completion Certificate is issued. The ₹15 crore commitment represents approximately 6.6% of Nimbus Projects' TTM revenue of ₹228 crore and 7.0% of its net worth.

• Strategic investment of ₹15.00 crore payable in one or more tranches
• Commercial project land area admeasures 6,252.60 sq. m. (67,303 sq. ft.) in Hari Nagar, New Delhi
• Investment agreement signed on October 07, 2026, with Sankalp Agencies Private Limited
• Tenure extends until the issuance of the Completion Certificate, subject to early exit terms

Shareholders of Nimbus Projects Limited approved the appointment of Mr. Anand Kumar (DIN: 03194060) as a Non-Executive, Non-Independent Director at the 33rd AGM held on September 29, 2026. Mr. Kumar, 65, is a retired 1984-batch IAS officer who previously served as Chairman of the Real Estate Regulatory Authorities (RERA) of Delhi and Chandigarh. The appointment comes as the company manages a turnaround after reporting FY26 revenue of Rs 228 Cr and a net loss of Rs 88 Cr with Rs 211 Cr in debt.

• Shareholders approved the appointment at the 33rd AGM held on September 29, 2026
• Mr. Anand Kumar is a 65-year-old former 1984-batch IAS officer with experience as RERA Chairman for Delhi and Chandigarh
• Appointed as a Non-Executive, Non-Independent Director liable to retire by rotation
• Company confirmed the appointee is not related to any Director or Key Managerial Personnel

Nimbus Projects Limited declared the voting results of its 33rd Annual General Meeting held on September 29, 2026. All 9 resolutions, including ordinary business and special resolutions for material related party transactions, were passed with requisite majority. Out of 19,318,735 total shares, 14,990,705 votes were polled (77.60% turnout) for ordinary resolutions, receiving 99.999% approval. For related party resolutions where promoters abstained, 1,379,528 public non-institution votes were cast, with 99.99% voting in favour.

• All 9 resolutions passed with over 99.99% approval of votes polled
• Overall voter turnout was 77.60% (14,990,705 votes polled on 19,318,735 outstanding shares) for ordinary business
• Special resolutions approved material related party transactions with Indogreen International, promoters, promoter group companies, and associates
• M/s Doogar & Associates appointed as Statutory Auditors of the company
• 109 total shareholders attended the meeting via Video Conferencing (14 promoter, 95 public)

At its 33rd AGM, Nimbus Projects reported FY26 consolidated revenue from operations of ₹228.76 Cr (up from ₹178.30 Cr in FY25) alongside a consolidated net loss of ₹87.99 Cr compared to a ₹64.12 Cr profit in the prior year. The company announced a Joint Development Agreement (JDA) for a residential plotted township spanning approximately 25 acres in Vrindavan, marking an expansion into Tier-2 markets with land acquisition already completed. Ongoing projects include Nimbus The Palm Village (978 units sold for ₹792.49 Cr; target delivery March 2028) and Nimbus Sunworld Arista (16 units sold for ₹99.79 Cr; target delivery December 2029).

• Entered into a JDA for a ~25-acre residential plotted township in Vrindavan with land acquisition completed
• Consolidated FY26 revenue rose to ₹22,875.62 Lakh (₹228.76 Cr) vs ₹17,829.71 Lakh in FY25, while net loss widened to ₹8,798.85 Lakh (₹87.99 Cr)
• Nimbus The Palm Village achieved ₹79,249 Lakh (₹792.49 Cr) in sales across 978 units out of 1,172 residential units, targeting completion by March 2028
• Nimbus Sunworld Arista logged sales of ₹9,979.21 Lakh (₹99.79 Cr) across 16 units, with targeted possession by December 2029
• Successfully delivered 4 projects historically totaling approximately 65.31 lakh sq. ft. of saleable area

Nimbus Projects Limited has dispatched communications to shareholders holding shares in physical form to update their PAN, KYC details, and nomination records in compliance with SEBI circulars. Physical folios lacking updated KYC details will not be eligible for service requests or dividend payouts, which are disbursed purely via electronic mode since April 1, 2024. The filing also reminds investors that transfer of physical shares is prohibited unless they are dematerialized. This is a standard regulatory compliance requirement with no financial impact on the company.

• SEBI Master Circular reference SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024, followed for compliance
• Electronic payment rule for dividends effective since April 1, 2024, for non-compliant physical folios
• Requirement to submit Form ISR-1, ISR-2, and SH-13/ISR-3 for KYC, signature, and nomination updates
• Shareholders urged to dematerialize physical shares to enable future transfers

Nimbus Projects Limited has received the formal approval letter dated September 04, 2026, from BSE Limited for the reclassification of four promoter group members to the public category. The four individuals—Nem Chand Jain, Sunil Jain, Anil Jain, and Raj Kumar Agarwal—collectively hold 8,800 equity shares, representing approximately 0.05% of the company's paid-up share capital. This filing serves as an update to their previous intimation with the full BSE approval document attached.

• BSE approval letter dated September 04, 2026, received for reclassification under Regulation 31A
• 4 promoter group members reclassified to public category
• Combined shareholding of reclassified entities stands at 8,800 shares (~0.05% of paid-up capital)
• Largest individual holding among reclassified members is 5,200 shares (0.03%) held by Nem Chand Jain

Nimbus Projects Limited has received approval from BSE and NSE on September 04, 2026, to reclassify four promoter group members to the public category under Regulation 31A of SEBI LODR. The reclassified individuals include Nem Chand Jain (5,200 shares / 0.03%), Sunil Jain (1,000 shares / 0.01%), Anil Jain (800 shares / 0.00%), and Raj Kumar Agarwal (1,800 shares / 0.01%). In total, 8,800 equity shares (approximately 0.05% of total paid-up share capital) have shifted from promoter to public category, leaving overall promoter control largely unchanged.

• Stock exchanges (BSE and NSE) approved the reclassification application dated May 30, 2026, on September 04, 2026.
• A total of 4 members of the promoter group were reclassified to the public category.
• The cumulative shareholding reclassified is 8,800 equity shares, representing ~0.05% of paid-up share capital.
• Largest individual holding among reclassified members was Nem Chand Jain with 5,200 shares (0.03%).

Nimbus Projects Limited has dispatched physical letters containing the web-link to its FY2025-26 Integrated Annual Report and 33rd Annual General Meeting (AGM) Notice to unregistered email shareholders. The 33rd AGM is scheduled to take place on Tuesday, September 29, 2026, at 12:30 PM IST via Video Conferencing. The cut-off date for e-voting entitlement is fixed as September 22, 2026, with remote e-voting running from September 26 to September 28, 2026.

• 33rd AGM scheduled for September 29, 2026, at 12:30 PM IST via VC/OAVM
• Cut-off date to determine e-voting eligibility set for September 22, 2026
• Remote e-voting window opens September 26, 2026 (9:00 AM) and closes September 28, 2026 (5:00 PM)
• Dispatched physical intimation under Regulation 36(1)(b) for accessing the FY26 Integrated Annual Report