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The Uttar Pradesh Industrial Development Authority (UPIDA) has instructed the Yamuna Expressway Industrial Development Authority (YEIDA) to revise and recalculate the land allotment made to Nimbus Projects Limited, a listed real estate developer, in Sector 3 of YEIDA, near the upcoming Noida International Airport. The move follows a revision petition filed by Nimbus seeking reconsideration of land previously surrendered under the Project Settlement Policy (PSP).
The revision is expected to provide Nimbus an additional 1.1 million square feet of development area, with a potential gross development value of around Rs 1,100 crore. This decision resolves a long-standing dispute and marks a significant milestone for the company.
Background
Nimbus Projects had previously surrendered 55,219.178 sq. m. of land out of a total allotment of 102,995.70 sq. m. under the PSP, a move aimed at aligning with the policy’s requirements. Following the petition, the Principal Secretary, Department of Industrial Development, Uttar Pradesh, directed YEIDA to reassess the allotment, taking into account interest payments already made by the developer.
The latest order effectively upholds Nimbus’s claims and grants the company an additional 24,365 sq. m. of land. With a permissible Floor Area Ratio (FAR) of 3, this translates to roughly 1.1 million square feet of new saleable area, giving the company a substantial boost to its development potential and revenue projections.
Implications for Nimbus Projects
In a regulatory filing on October 21, Nimbus stated that this order would enable the company to accelerate its next phase of growth, particularly for the IITL-Nimbus The Palm Village Project, which has been under discussion for several years.
Bipin Agarwal, Chairman and Managing Director of Nimbus Projects Limited, commented, "The favourable order from UPIDA and YEIDA marks a significant milestone for us. With the addition of 1.10 million square feet of new saleable area, we are well positioned to accelerate our next phase of growth. The strong sales and collection performance in Q2 and the first half of FY26 reaffirm the confidence homebuyers have in the Nimbus brand."
Strong Pre-Sales Performance
The regulatory filings also highlighted Nimbus Projects’ robust sales momentum. In Q2 FY26, the company’s sales bookings (pre-sales) grew to Rs. 239 crore, up from Rs. 220 crore in the same quarter the previous year.
For the first half of FY26, total pre-sales stood at Rs. 311 crore, reflecting continued buyer interest in mid- and premium-housing segments across the National Capital Region (NCR). The additional land allotment is expected to further strengthen Nimbus’s ability to meet this demand.
Strategic Importance of the Land
The newly allocated land near the upcoming Noida International Airport is strategically significant. The proximity to the airport, coupled with growing infrastructure and industrial development in the YEIDA region, makes this area highly attractive for residential projects. The additional FAR of 3 allows Nimbus to optimize its construction plans and maximize the development potential of the site.
Moving Forward
With the UPIDA and YEIDA orders in place, Nimbus Projects is now positioned to resume and expand its development activities, unlocking value from a previously contentious land allotment. The company’s leadership has emphasized that this decision not only resolves a protracted matter but also provides a clear roadmap for growth in one of the NCR’s most promising residential markets.
As the NCR region continues to attract buyers seeking mid- and premium housing, the additional 1.1 million square feet of land will play a key role in Nimbus Projects’ upcoming launches and revenue growth, reinforcing the company’s position in the competitive real estate sector.
