Nimbus Projects Limited , a real estate development company, has reported a net loss of Rs. 231.89 lakh for the quarter ended September 30, 2025. The company also made several significant announcements following its board meeting held on November 14, 2025.

Financial Performance

The company's financial results for the quarter and half-year ended September 30, 2025, were approved by the Board of Directors. While specific details of revenue were not provided, the reported net loss indicates challenging market conditions for the real estate sector.

Loan Facilities Approved

Nimbus Projects has approved multiple loan facilities:

1. The company's joint venture partnership firm, IITL-Nimbus The Express Park View, has been approved to avail a short-term unsecured loan facility of Rs. 25.00 crore from Nimbus (India) Limited, an associate of the company. This loan comes with an interest rate of 11% per annum for a period of one year.

2. The Board has also approved the renewal of a long-term unsecured loan facility of Rs. 25.00 crore for IITL-Nimbus The Express Park View, also from Nimbus (India) Limited. This renewed facility is for a period of 3 years at an interest rate of 11% per annum.

3. Additionally, Nimbus Projects Limited itself has finalized terms to avail an unsecured loan facility of Rs. 5.00 crore from World Resorts Limited, another associate company. This loan is set at an interest rate of 10% per annum for a period of 2 years.

These loan approvals are subject to shareholder approval and are classified as related party transactions, being carried out at arm's length basis.

New Director Appointment

The Board has appointed Dr. Anoop Kumar Mittal as an Additional Non-Executive Director, subject to shareholder approval. Dr. Mittal, aged 65, brings extensive experience in civil engineering, consultancy, real estate development, mergers & acquisitions, and project management. He previously served as the Chairman-cum-Managing Director of NBCC (India) Ltd from 2013 to March 2019.

Corporate Governance

The company also announced the reconstitution of its Audit Committee, with Mr. Deepak Kumar Lath appointed as the new Chairman of the committee.

Nimbus Projects Limited continues to navigate through challenging market conditions while making strategic decisions to strengthen its financial position and corporate governance structure. The approved loan facilities are expected to provide capital for the company's ongoing projects and operations.

Nimbus Projects Limited, a prominent player in the real estate and infrastructure sector, recently held its 32nd Annual General Meeting (AGM) on September 23, 2025. The meeting, conducted through video conferencing, saw shareholders approving several significant resolutions that will shape the company's future direction.

Re-appointment of Bipin Agarwal as Chairman & Managing Director

One of the key highlights of the AGM was the re-appointment of Mr. Bipin Agarwal as the Chairman & Managing Director of Nimbus Projects Limited. Shareholders approved a three-year term for Mr. Agarwal, effective from August 31, 2025, to August 30, 2028. The resolution also set his annual remuneration at Rs. 60.00 lakh, payable as a monthly salary of Rs. 5.00 lakh.

Mr. Agarwal, aged 59, brings a wealth of experience to his role. As a Fellow Member of the Institute of Company Secretaries of India, he has 36 years of expertise in advisory, consulting, and syndication services. His proficiency spans construction, real estate, infrastructure development, portfolio management, finance, and corporate restructuring.

Appointment of Secretarial Auditor

In another significant move, the shareholders approved the appointment of Mr. Kapil Dev Vashisth as the Secretarial Auditor of the company. Mr. Vashisth, a peer-reviewed Company Secretary (M.No.: F5898, COP: 5458), will serve for a term of five consecutive years, from April 01, 2025, to March 31, 2030.

Approval of Related Party Transactions

The AGM also saw the approval of several resolutions related to material related party transactions. These included transactions with:

• Identified partnership firms
• Indogreen International
• Identified promoters and promoter group companies
• Subsidiary and associate companies
• Industrial Investment Trust Limited and IITL Projects Limited

Voting Results

The voting results demonstrated strong shareholder support for the proposed resolutions. All 17 resolutions put forward at the AGM were passed with an overwhelming majority. The e-voting process, which included both remote e-voting and e-voting during the AGM, saw participation from both promoter and public shareholders.

The strong approval rates indicate shareholders' confidence in the company's management and strategic decisions.

These developments at Nimbus Projects Limited suggest a focus on corporate governance, strategic growth, and stakeholder alignment. As the company moves forward with its re-appointed leadership and newly approved initiatives, it will be interesting to observe how these decisions impact its performance in the dynamic real estate and infrastructure sectors.