Nimbus Projects Limited has announced that its Board of Directors, at a meeting held on July 27, 2026, approved the incorporation of a new subsidiary company. The board resolved to convert IITL-Nimbus, The Palm Village — an existing joint venture partnership firm — into a private limited company to be named IITL Nimbus The Palm Village Private Limited. The board meeting commenced at 01:00 p.m. and concluded at 03:00 p.m. A corrigendum to the original intimation was filed on July 28, 2026, in response to a query from BSE seeking the board meeting commencement and conclusion times.

Conversion of Partnership Firm into Private Limited Company

The proposed incorporation involves the conversion of IITL-Nimbus, The Palm Village, a joint venture partnership firm, into a private limited company under the provisions of the Companies Act, 2013. Nimbus Projects Limited currently holds 95% of the capital contribution in the partnership firm, while Mr. Bipin Agarwal holds the remaining 5%. The conversion will be deemed complete upon the issuance of the Certificate of Incorporation by the Registrar of Companies. The proposed company will be incorporated in India and will operate in the Real Estate Industry.

Key Details of the Proposed Subsidiary

The following table summarises the key parameters of the proposed subsidiary as disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

Business Activities of the Proposed Company

Upon conversion, IITL Nimbus The Palm Village Private Limited will continue to undertake the business of real estate development. The proposed company's scope of operations includes:

• Construction, development, acquisition, sale, leasing, and management of residential, commercial, and other real estate projects
• Provision of allied real estate consultancy and related services

The proposed company will become a subsidiary of Nimbus Projects Limited upon completion of the conversion process.

Regulatory and Statutory Approvals

The incorporation of the proposed subsidiary is subject to the issuance of the Certificate of Incorporation by the Registrar of Companies, along with any other statutory approvals that may be required. The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in accordance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/376 dated January 30, 2026. The intimation was signed by Ritika Aggarwal, Company Secretary & Compliance Officer of Nimbus Projects Limited.

Nimbus Projects Limited has appointed Ms. Neha Atal Poddar as an Additional Director (Non-Executive-Independent Woman Director) for a term of 5 years, effective July 27, 2026. The Board of Directors approved the appointment at its meeting held on Monday, July 27, 2026, following a recommendation from the Nomination and Remuneration Committee (NRC). The appointment is subject to the approval of the company’s shareholders. This move strengthens the board’s independence and diversity profile, aligning with regulatory requirements for independent representation.

The appointment was made pursuant to Regulation 30 (read with Part A of Schedule III) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board verified that Ms. Poddar is not debarred from holding the office of Director by any order of the Ministry of Corporate Affairs (MCA), Securities and Exchange Board of India (SEBI), or any other authority. Detailed disclosures were provided in accordance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Appointment Details

Ms. Neha Atal Poddar (DIN: 11761602) will serve as an Independent Director not liable to retire by rotation. Her term will run from July 27, 2026, to July 26, 2031. She holds no relationship with any existing Director or Key Managerial Personnel of the company.

Professional Profile

Ms. Poddar is a Fellow Chartered Accountant (FCA) and a post-graduate in Commerce (M.Com) from the University of Mumbai. She brings over a decade of post-qualification experience spanning statutory and tax compliance, financial management, and capital markets. As Proprietor of M/s. S. S. Khudania & Co., Chartered Accountants, New Delhi, she leads a practice covering audit, taxation, regulatory compliance, and corporate advisory services. Her earlier corporate tenure as General Manager – Finance & Accounts at EFC Logistics India Pvt. Ltd. (Mumbai) provided her with exposure to large-scale financial operations and corporate governance. She also possesses strong analytical skills in equity research and personal financial planning.