Nimbus Projects proposes re-appointment of Rajeev Kumar Asopa

Nimbus Projects has proposed the re-appointment of Mr. Rajeev Kumar Asopa as a Director (Non-Executive, Non-Independent) who is liable to retire by rotation. The proposal was made by the Board of Directors during its meeting held on August 12, 2026, following a recommendation from the Nomination and Remuneration Committee (NRC). Shareholders will vote on this appointment at the company's ensuing 33rd Annual General Meeting.

The Board verified that Mr. Asopa is not debarred from holding the office of Director pursuant to any order from the Ministry of Corporate Affairs (MCA), SEBI, or any other regulatory authority. This compliance check was conducted by both the NRC and the Board before finalizing the recommendation.

Director Profile

Mr. Rajeev Kumar Asopa brings over three decades of experience in corporate governance and finance. His professional background includes:

Education: Commerce graduate and Fellow Member of the Institute of Company Secretaries of India.
Experience: Approximately 31 years in finance, secretarial, and legal compliances.
Relationships: He is not related to any other Director on the Board or Key Managerial Personnel of the company.

Regulatory Disclosures

The intimation was issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part-A of Schedule III. The disclosure aligns with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Particulars	Details
Action	Re-Appointment
Role	Non-Executive, Non-Independent Director
DIN	00001277
Meeting Date	August 12, 2026
AGM Reference	33rd Annual General Meeting

The Board meeting commenced at 3:30 pm and concluded at 8:00 pm. Further details are available on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.27%	+2.40%	-9.32%	-7.03%	-7.03%	-7.03%

Nimbus Projects Limited reported a consolidated net profit of ₹3.26 crore for the quarter ended June 30, 2026, marking a reversal from the net loss of ₹31.17 crore recorded in the same period last year. The company’s standalone operations, however, posted a net loss of ₹13.33 crore, compared to a loss of ₹1.00 crore in Q1FY26.

The board of directors approved the unaudited financial results on August 12, 2026. The results were reviewed by statutory auditors Oswal Sunil & Company, which issued an unqualified limited review report.

Consolidated Financial Performance

Consolidated revenue from operations stood at ₹293.53 lakh in Q1FY27, down significantly from ₹21,882.53 lakh in Q4FY26 but up from ₹389.63 lakh in Q1FY25. Total revenue, including other income and share of profit from partnerships, reached ₹1,408.38 lakh.

Total expenses amounted to ₹1,917.60 lakh. A key driver for the improved bottom line was the share of net profit from investments in associates accounted for using the equity method, which contributed ₹872.49 lakh, compared to a loss of ₹1,360.54 lakh in the previous quarter.

Metric	Q1FY27 (₹ Lakh)	Q1FY26 (₹ Lakh)	Change
Revenue from Operations	293.53	389.63	-24.7%
Total Revenue	1,408.38	508.87	+176.8%
Net Profit/(Loss) After Tax	326.00	(3,557.49)	Turnaround

Standalone Operations

On a standalone basis, revenue from operations was ₹37.66 lakh, slightly lower than ₹38.06 lakh in Q4FY26. Other income rose sharply to ₹46.30 lakh from ₹22.50 lakh in the preceding quarter.

However, total expenses surged to ₹1,432.91 lakh, primarily driven by a share of losses from partnership firms amounting to ₹1,071.13 lakh. This contrasts with a share of profit of ₹3,741.74 lakh in Q4FY26, which had been boosted by revenue recognition from the completion of Phase 2 of the Express Park View project.

Metric	Q1FY27 (₹ Lakh)	Q1FY26 (₹ Lakh)	Change
Revenue from Operations	37.66	35.63	+5.7%
Total Expenses	1,432.91	1,082.34	+32.4%
Net Loss After Tax	(1,332.51)	(100.12)	Widened

What the Numbers Show

The divergence between consolidated and standalone results highlights the company’s reliance on associate entities for current profitability. While standalone operations incurred significant losses due to partnership firm allocations, the consolidated bottom line turned positive largely due to an ₹872.49 lakh profit contribution from associates. This indicates that operational performance at the parent level remains under pressure, with profitability currently sustained by external equity investments rather than core real estate development activities.

Project Updates

As of June 30, 2026, Nimbus Projects has completed four major projects: Express Park View, The Hyde Park, The Golden Palm, and Express Park View-II. Two projects remain ongoing: The Palm Village and The Sunworld Arista.

The company is developing the IITL-Nimbus, The Arista Luxe project in Noida as a co-developer. It has invested ₹414.62 crore in the project as of June 30, 2026. The total estimated sale value is approximately ₹2,000 crore, with an estimated cost of ₹1,200 crore. UP RERA has extended the registration validity until January 23, 2030.