Nimbus Projects Limited , a company listed on the Bombay Stock Exchange (BSE), has witnessed significant changes in its shareholding pattern as two non-promoter shareholders reduced their stakes through open market transactions.

Mrs. Geeta Devi's Divestment

Mrs. Geeta Devi, a non-promoter shareholder, sold a total of 275,000 shares of Nimbus Projects Limited through open market transactions. The divestment occurred in two phases:

1. First sale: 25,000 shares (as part of a combined transaction with Mrs. Meenal Aggarwal) on September 11
2. Second sale: 250,000 shares on September 16

The transactions have decreased Mrs. Geeta Devi's stake in the company by 1.30 percentage points, from 2.59% to 1.29% of the total share capital.

Mrs. Meenal Aggarwal's Divestment

Mrs. Meenal Aggarwal, who is acting in concert with Mrs. Geeta Devi, participated in the sale of 25,000 shares of Nimbus Projects Limited on September 11.

The combined stake of Mrs. Meenal Aggarwal and Mrs. Geeta Devi has decreased by 0.13 percentage points, from 2.72% to 2.59% of the total share capital.

Company Details

Nimbus Projects Limited has a total equity share capital of 19,318,735 shares, with a face value of Rs. 10 each. The company's shares are listed on the Bombay Stock Exchange Limited.

Regulatory Compliance

Both transactions were reported in accordance with the relevant regulations. The disclosures were made to ensure transparency in the shareholding changes of the company.

It's important to note that neither Mrs. Geeta Devi nor Mrs. Meenal Aggarwal belong to the promoter or promoter group of Nimbus Projects Limited. These divestments by non-promoter shareholders indicate changes in the ownership structure of the company without affecting the promoter group's shareholding.

Nimbus Projects Limited, a real estate development company listed on the Bombay Stock Exchange (BSE), has reported a substantial increase in its financial performance for the first quarter.

Strong Revenue Growth

The company's total income for Q1 surged to ₹17.93 crore, marking a remarkable 378% year-over-year increase from ₹3.75 crore in the same quarter last year. This significant growth in revenue suggests a robust improvement in Nimbus Projects' project completions or new sales during the quarter.

Profit and Earnings Per Share

Nimbus Projects' net profit rose by 128% to ₹1.30 crore, compared to ₹0.57 crore in Q1 of the previous fiscal year. This increase in profitability demonstrates the company's ability to effectively manage costs while growing its revenue.

The company's earnings per share (EPS) also saw a substantial improvement, rising from ₹0.47 to ₹1.06, reflecting enhanced value creation for shareholders.

Board Approval and Audit Review

The unaudited financial results for Q1 were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on August 12. The company's auditors have expressed an unmodified audit opinion on these results.

Project Status

Nimbus Projects provided an update on its completed and ongoing projects:

This project status update indicates a high level of sales across Nimbus Projects' portfolio, with a significant portion of the total saleable area already sold and substantial revenue realized.

The company's strong financial performance and project execution demonstrate its resilience and growth potential in the real estate sector. Investors and stakeholders may view these results as a positive indicator of Nimbus Projects' operational efficiency and market position.