Nimbus Projects AGM: Appoints new directors, approves related party deals
- Held 33rd AGM on September 29, 2026, approving new director appointments
- Appointed Ms. Neha Atal Poddar as Independent Woman Director and Mr. Anand Kumar as Non-Executive Director
- Approved material related party transactions with Indogreen International and promoter entities
- Consolidated loss widened to ₹87.99 crore in FY26 despite revenue rising to ₹228.76 crore
*this image is generated using AI for illustrative purposes only.
Nimbus Projects Limited held its 33rd Annual General Meeting (AGM) on September 29, 2026, via Video Conferencing. The meeting focused on governance updates, including the appointment of new directors and approval of material related party transactions.
The Board proposed and shareholders approved the appointment of Ms. Neha Atal Poddar as an Independent Woman Director and Mr. Anand Kumar as a Non-Executive Non-Independent Director. Additionally, M/s Doogar & Associates was appointed as the Statutory Auditors for the company.
Governance and Board Changes
The AGM addressed several key governance items through ordinary and special resolutions:
| Item | Resolution | Type |
|---|---|---|
| 1 | Adoption of Audited Standalone and Consolidated Financial Statements for FY26 | Ordinary |
| 2 | Re-appointment of Mr. Rajeev Kumar Asopa as Director | Ordinary |
| 3 | Appointment of M/s Doogar & Associates as Statutory Auditors | Ordinary |
| 4 | Appointment of Ms. Neha Atal Poddar as Independent Woman Director | Special |
| 5 | Appointment of Mr. Anand Kumar as Non-Executive Non-Independent Director | Ordinary |
| 6-9 | Approval of Material Related Party Transactions with Indogreen International, Promoters, Promoter Group, and Associate Companies | Special |
Financial Performance Recap
The financial statements adopted at the AGM reflect a challenging year for the developer. Nimbus Projects reported a consolidated loss of ₹87.99 crore for FY26, marking a significant reversal from the profit of ₹64.12 crore recorded in FY25. The real estate developer’s consolidated revenue rose to ₹228.76 crore from ₹178.30 crore in the previous fiscal year.
On a standalone basis, the company logged a loss of ₹12.13 crore in FY26, an improvement from the ₹12.75 crore loss in FY25. Standalone revenue from operations declined marginally to ₹1.47 crore from ₹1.51 crore year-on-year.
Project Portfolio and Deliveries
The company successfully delivered four projects during the period: Express Park View-I, Express Park View-II, Hyde Park, and Golden Palms. These completed projects contribute approximately 65.31 lakh sq ft of saleable area.
Nimbus Projects currently has two ongoing projects with distinct sales trajectories:
| Project | Total Saleable Area | Units Sold | Sales Value | Possession Target |
|---|---|---|---|---|
| Nimbus The Palm Village | 14.18 lakh sq ft | 978 | ₹79.25 crore | March 2028 |
| Nimbus Sunworld Arista | 11.27 lakh sq ft | 16 | ₹9.98 crore | December 2029 |
Construction at Nimbus The Palm Village is progressing at full pace, while activities at Nimbus Sunworld Arista are proceeding satisfactorily.
Strategic Expansion into Tier-2 Cities
Chairman Bipin Agarwal highlighted a strategic shift beyond the Delhi-NCR region. The company has entered a Joint Development Agreement (JDA) for a residential plotted township in Vrindavan, spread across approximately 25 acres. Land acquisition for this project is complete. This move signals an intent to explore growth opportunities in select Tier-2 cities and emerging markets.
What the Numbers Show
A divergence exists between top-line growth and bottom-line performance. While consolidated revenue expanded by roughly 28% YoY, the company swung from a net profit to a substantial net loss. This suggests that cost pressures or exceptional items outweighed the benefits of higher revenue recognition during FY26. Additionally, the sales velocity at Nimbus Sunworld Arista remains low compared to Nimbus The Palm Village, with only 16 units sold out of 340 available, indicating slower absorption in that specific segment.
Historical Stock Returns for Nimbus Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.33% | +3.89% | +14.20% | -2.44% | -2.44% | -2.44% |
What specific cost pressures or exceptional items drove the swing from a ₹64.12 crore profit to an ₹87.99 crore loss despite a 28% rise in consolidated revenue?
How does the low sales velocity at Nimbus Sunworld Arista (16 units sold) impact the company's liquidity planning and construction timeline for its December 2029 possession target?
Will the strategic pivot to Tier-2 cities, specifically the Vrindavan project, require additional capital infusion or debt restructuring given the current consolidated net loss?
17
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
