Nimbus Projects Q2 pre-sales up 9% to Rs 239 cr; eyes Rs 1.1k cr revenue from extra land allocation

New Delhi, Oct 21 (PTI) Realty firm Nimbus Projects Ltd has reported a 9 per cent growth in its sales bookings to Rs 239 crore in the second quarter of this fiscal and said it expects to get an additional 24,365 square metre of land in Greater Noida from the Uttar Pradesh government to build projects worth Rs 1,100 crore.

In a regulatory filing on October 18, Nimbus Projects said its sales booking or pre-sales rose 9 per cent to Rs 239 crores in the second quarter of this fiscal. Sales booking or pre-sales stood at Rs 220 crore in the year-ago period.

The pre-sales during the first six months of this fiscal stood at Rs 311 crore.

The company has a presence in Noida and Greater Noida markets.

Further, Nimbus Projects informed that its Joint Venture firm IITL-Nimbus The Palm Village has surrendered 55,219.178 square metres of land out of the total allotted land of 1,02,995.70 square metres under the PSP Scheme of the UP Government. Later, it filed a revision petition before the state Government Principal Secretary Department of Industrial and Development, Lucknow against the impugned order.

"Acting upon the revision petition of the firm, Principal Secretary vide its order dated July 15, 2025, accepted the pleas of the firm and directed YEIDA to recalculate the working of land to be allotted in favour of the firm after considering the credit of interest paid by the firm along with other directions," the filing said.

Nimbus Projects is expecting to get an additional 24,365 square metres of land. "Permissible FAR is 3 and approximately 1.10 million sq ft of saleable area shall be developed on this land," it added.

In a statement on Tuesday, the company said the total Gross Development Value (GDV) of Rs 1,100 crore is estimated from the saleable area of 1.1 million sq ft.

Its Chairman and Managing Director Bipin Agarwal said the company remains committed to delivering excellence in real estate, and "our strong sales and collection figures in Q2 FY2025-26 and 6M FY2025-26 demonstrate the trust customers have in our projects".

"With a high volume of sales across our developments, we are well-positioned to maintain momentum and drive sustained growth in the coming quarters," he added.

Nimbus Group has developed many housing projects in Noida, comprising around 8,000 homes. It is currently constructing a few more projects in Noida and Greater Noida.

In August, the company said it will invest around Rs 1,000 crore to develop a luxury housing project 'Arista Luxe' at Sector 168, Noida, comprising 342 flats. PTI MJH MJH SHW