Delhi-NCR-based Nimbus Projects Limited (BSE: NIMBSPROJ), a real estate developer, reported a significant growth in sales and collections for Q3 and the nine months of FY25, reinforcing its position in the real estate sector.
Nimbus Group is actively advancing a robust luxury and premium residential development pipeline across key urban hubs. With a strong commitment to quality, innovation, and timely execution, the company continues to cater to the evolving aspirations of homebuyers, strengthening its foothold in the real estate sector.
In September 2024, the company received recognition from the NOIDA Authority to enter the "Arista" group housing project in Sector - 168, Noida, as a Co-Developer to develop Phase II, featuring four residential towers (5, 7, 8 & 9) comprising 344 luxury flats, clubhouse and common areas, spanning over 12,000 square meters of land area. Nimbus has also applied for U.P. RERA registration to be recognised as the project's promoter. For seamless execution, Nimbus has associated with renowned contractor B.L. Gupta Construction Pvt. Ltd. under a Rs 350 crore Cost-Plus Contract.
The company has already invested over Rs 130 crore into upcoming luxury projects. With an expected top-line revenue of Rs 1,500 crore from the project, the project is poised for strong pre-sales momentum and robust cash flow visibility.
Nimbus met and surpassed its target to achieve the expected top-line of Rs 1,000 crore for FY 2024-25, driven by the upcoming luxury project expected to generate about Rs 1,500 crore in revenue.
Bipin Agarwal, Chairman and Managing Director, said, "Nimbus Projects Limited remains committed to delivering excellence in real estate, and our strong sales and collection figures in Q3 FY25 and 9M FY25 demonstrate the trust customers have in our projects. With a high sales volume across our developments, we are well-positioned to maintain momentum and drive sustained growth in the coming quarters."
"We are excited about the future as we focus on launching high-end developments that redefine urban living while maintaining our commitment to affordability and quality. Our ongoing projects are designed to set new benchmarks in architectural excellence and sustainable development. Backed by operational efficiencies and a customer-centric approach, we remain confident in delivering long-term value to our stakeholders."
