Nimbus Projects Ltd updates on Group housing project 'Nimbus The Palm Village'

Nimbus Projects Limited (The Company) is developing a Group housing Project "Nimbus The Palm village" in partnership with Nimbus Propmart Private Limited in a partnership firm M/s. IITL-Nimbus The Palm Village. The company holds 95% stake in the firm. The project was launched for sale in the month of April 2024 immediately upon receipt of RERA registration certificate.

Total saleable area in the project is 14,48,564 sq. ft. comprising 702 units of 1BHK, 470 units of 3 BHK & 44 commercial units.

Till date firm has booked approx. 4,90,000 sq. ft. area totaling 557 units of various sizes. The estimated total cost of project is INR 660.00 Crores & the estimated total sales revenue shall be approx. INR 850.00 Crores.

Promoter's contribution in the project is approximately INR 60.00 Crores and the sales booked till dated is INR 342.00 Crores. Firm has availed a project construction facility of INR 75.00 Crores from Bajaj Housing Finance Limited. The balance amount shall be arranged from sale of unsold inventory/Promoter's contribution, if required.

Construction is in full swing as the Firm is keen to completed the Project in all respects by 31st March 2028.

Shares of NIMBUS PROJECTS LTD. was last trading in BSE at Rs. 120.35 as compared to the previous close of Rs. 122.80. The total number of shares traded during the day was 11772 in over 31 trades.

The stock hit an intraday high of Rs. 120.35 and intraday low of 120.35. The net turnover during the day was Rs. 1416760.00.

Source : Equity Bulls

Keywords

NIMBUSPROJECTS INE875B01015 Realty GroupHousingProject NimbusThePalmVillage