Nimbus Projects Limited Executes MoU for Residential Township in Mathura, Uttar Pradesh
Nimbus Projects Limited has executed a Memorandum of Understanding (MoU) for the proposed acquisition and development of a residential township project in Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh. The agreement sets the terms for the commercial understanding between Nimbus Projects Limited and three land owners.The MoU, signed on June 24, 2026, outlines the framework for the acquisition, development, and commercialization of the proposed township project. The parties involved in the agreement are Nimbus Projects Limited (the Developer), M/s Kaamag Private Limited, and M/s Maayin's Real Estate Private Limited, along with Mr. Sooraj Kumar as a land owner.
The project involves developing a residential township on a parcel of approximately 25 Acres located in Village Neemgaon. Under the proposed transaction structure, Nimbus Projects Limited will undertake the planning, statutory approvals, development, construction, marketing, and commercialization of the project. The development model is structured around a 50:50 revenue sharing arrangement, with 50% allocated to the land owners and 50% to the Developer (Nimbus Projects Limited).
The MoU establishes exclusivity and provides the framework for financing arrangements and security creation necessary for the transaction. Upon the subsequent execution of the definitive Joint Development Agreement (JDA), specific financial commitments will be made by Nimbus Projects Limited.
Key commercial terms stipulated in the MoU include:
| Payment Type | Amount | Timeline / Condition |
|---|---|---|
| Non-refundable Upfront Consideration | Rs. 20,00,00,000/- (Rupees Twenty Crores Only) | Upon execution of JDA |
| Refundable Security Deposit | Rs. 10,00,00,000/- (Rupees Ten Crores Only) | Within 60 days of JDA or RERA registration (whichever is earlier) |
The project will be formalized through definitive transaction documents, which include the Joint Development Agreement, financing documents, security documents, and necessary ancillary agreements. The execution of these documents remains subject to the completion of due diligence, fulfillment of agreed conditions, and receipt of all statutory, regulatory, and corporate approvals.
NIMBSPROJ Stock Price Movement
Shares of Nimbus Projects Limited are edging higher in live trading, currently holding at ₹209.99 as of 2:24 PM after gaining 0.98%. The stock maintains a firm position above its intraday low of ₹197.56 amidst limited activity, with 96 shares having traded so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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