Nimbus Projects Secures MoU for 25 Acres Development Project in Mathura
Nimbus Projects Limited has announced the execution of a Memorandum of Understanding (MoU) dated May 21, 2026. The agreement establishes a proposed collaborative development venture involving Nimbus Projects Limited, M/s Kaamag Pvt. Ltd., and M/s Maayins Real Estate Pvt. Ltd. The project is slated for the development of a land parcel situated near Radha Kund, Vrindavan, Govardhan, District Mathura, Uttar Pradesh.The collaboration focuses on approximately 25 acres of land located in Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh. Under the proposed joint development model, the companies have outlined specific financial commitments and revenue sharing terms.
Financial details of the partnership include an upfront non-refundable amount of INR 20,00,00,000/-. This sum is payable at the time of executing a definitive joint development agreement. Additionally, the companies agreed to an additional adjustable or refundable security deposit of INR 10,00,00,000/-. This deposit must be provided within 60 days or upon the launch of the project, whichever occurs earlier.
The project will operate under a joint development or revenue sharing model. According to the terms, the revenue generated from the constructed saleable area is proposed to be shared equally, at a ratio of 50:50, across both parties for both residential and commercial development.
For the execution and progress of the project, Nimbus Projects Limited has assumed responsibility for undertaking key activities, including approvals, development, marketing, and other associated project activities.
The companies emphasized that the proposed arrangement is preliminary and non-binding, and the final execution is contingent upon completing due diligence, verifying land titles, obtaining necessary regulatory approvals, and finalizing definitive agreements.
NIMBSPROJ Stock Price Movement
Today, Nimbus Projects Limited shares edged higher to close at ₹225.62, gaining 1.79% from the previous close. The stock saw heavy buying interest on a volume of 123,960 shares, hitting its 52-week high of ₹231.23.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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