Latest news with #NimbusGroup
Time of India
05-08-2025
- Business
- Time of India
Nimbus group raises Rs 150 crore from Bajaj Finance to revive a stuck housing project in Noida
Nimbus Projects Ltd , a listed real estate developers headquartered in New Delhi, has raised Rs 150 crore from Bajaj Finance to revive a stuck housing project in Sector 168, Noida. The company will have to invest Rs 1,100 crore which includes the construct cost and payment to lenders and authority and the original promoter. The developer said balance fund can be generated through sale. 'Of around Rs 1,100 crore investment, about Rs 180 crore is the dues towards authority, Rs 42 crore is for lenders and around Rs 500 crore is construction cost. We have to pay money to original promoter as well. We are expecting around Rs 1,400 crore revenue from the project,' said Bipin Agarwal, CMD, Nimbus Group. While Nimbus will deliver the common areas for existing buyers of the stuck project, Sunworld Arista, it will get about a million sq ft of saleable area. Noida authority has given approval to the project under the Uttar Pradesh government's co-development policy to revive stalled projects . 'Builder had launched the project in 2011-12 and while some part of it is delivered, we will develop and deliver the balance part. There were few buyers in the undelivered part, who have given us NOC to take over and complete the project,' said Agarwal. The first project under the UP stalled project policy formulated by a committee headed by Amitabh Kant, who is now India's G20 sherpa, is being carried out by realty developer Hawelia Group, which has taken over a 22-acre partially delivered project, Shree Radha Sky Garden in Greater Noida. According to the Confederation of Real Estate Developers' Associations of India ( Credai ), 190,000 housing units worth Rs 1 lakh crore are stuck in Noida, Greater Noida and Ghaziabad. In Greater Noida region alone, at least 36 real estate projects are facing insolvency proceedings. Under the co-development policy, the new developer will have to settle RERA cases filed by the buyers. The developer could raise debt for financial closure of such projects on its net worth and credit ratings. The earlier promoters are already under default and do not have the required credit ratings to raise debt for completion of such stalled projects. It is estimated that Rs 40,000 crore is due to the Noida, Greater Noida and Yamuna Expressway authorities, including premium, interest, and penal interest against allotted plots on which real estate projects are in different stages of execution.
Business Standard
05-08-2025
- Business
- Business Standard
Nimbus Projects spurts on revival of Noida luxury project
Nimbus Projects hit an upper limit of 5% at Rs 186 after the company announced a Rs 1,100 crore investment to revive and develop a premium residential project in Noida. The project, Arista Luxe (Phase II), is located in Sector 168, Noida, and marks a turnaround for a development that was previously stalled. Approved under the Legacy Stalled Projects Scheme by the New Okhla Industrial Development Authority (NOIDA), Nimbus has stepped in as a co-developer via a joint development agreement. Spread across 10 acres, the project will house 342 luxury apartments in Towers 5, 7, 8, and 9, in addition to a clubhouse and expansive common areas. Arista Luxe boasts 65% open green spaces, a 1.6 lakh sq. ft. landscaped zone, and seven themed swimming pools. Other highlights include expansive balconies, 11-foot floor-to-floor heights, double-height air-conditioned lobbies, and smart home automation. The development is scheduled for completion by 2029 and will be financed through a mix of bank funding, internal accruals, and institutional lenders. Nimbus has committed to strong governance standards with 100% fund traceability, ensuring uninterrupted construction and timely delivery. The project is RERA-registered and has secured all necessary regulatory approvals. Sector 168, a rising micro-market in Noida, enjoys strong connectivity via the Noida-Greater Noida Expressway and seamless access to the upcoming Noida International Airport and expanding metro network. Bipin Agarwal, CMD, Nimbus Group, said, "Sector 168 is a high-potential micro-market, and we see this revival as part of a larger mission: to bring momentum back to NCRs real estate landscape through responsible development." Backed by a proven track record in Greater Noida, Nimbus Group is also eyeing expansion through the revival of other stalled projects across the NCR. The company is active in real estate and hospitality. Nimbus Projects board will consider Q1 results on 12 August 2025. On a consolidated basis, Nimbus Projects reported net loss of Rs 113.52 crore in Q4 March 2025 as against net profit of Rs 22.77 crore in Q4 March 2024. Net sales declined 83.06% YoY to Rs 0.83 crore in Q4 March 2025.
Time of India
05-08-2025
- Business
- Time of India
Nimbus Group to invest ₹1,100 crore to revive housing project in Noida
NEW DELHI: Nimbus Group will invest ₹1,100 crore to develop Arista Luxe Phase II , a residential project located in Sector 168, Noida . The 10-acre project, which had earlier been stalled, is being revived under the Legacy Stalled Projects Scheme with formal approvals from the New Okhla Industrial Development Authority (NOIDA). The development is being undertaken through a joint development agreement (JDA), with Nimbus stepping in as co-developer. Arista Luxe Phase II will include 342 apartments spread across Towers 5, 7, 8, and 9, along with the completion of the clubhouse and common areas. The project is expected to be completed by 2029 and is being funded through a mix of bank finance, internal accruals, and institutional lenders. The group had previously delivered The Golden Palms in the same sector and has also completed projects such as Express Park View I & II in Greater Noida and The Hyde Park in Sector 78, Noida.
Economic Times
05-08-2025
- Business
- Economic Times
Nimbus Group to invest Rs 1,000 cr on new housing project in Noida
Realty firm Nimbus Group will invest around Rs 1,000 crore to develop a luxury housing project in Noida. ADVERTISEMENT The company will develop 342 apartments in the project 'Arista Luxe' at Sector 168, Noida. "We will develop a luxury housing project in Noida. The total investment will be around Rs 1,000 crore," Nimbus Group promoter Bipin Agarwal told reporters here. He said the company has become a co-developer in a 10-acre stalled housing project, which was originally launched by Sunworld Residency Pvt Ltd in the first phase, spread over 6 acres of land, around 600 units have already been delivered to customers."Now, we are developing four towers in about 4 4-acre land parcel," Agarwal said. ADVERTISEMENT Out of the total investment, he said, around Rs 500 crore will be for company would also clear the dues of the Noida Development Authority. It would also pay some amount to Sunworld towards the land cost. ADVERTISEMENT Agarwal said the co-developer policy introduced by the authority will help in the completion of many stalled housing Group will sell these 342 apartments in a price range of Rs 4-8 crore. The company has launched this project at Rs 16,000-18,000 per sq ft, he added. ADVERTISEMENT "The demand is steady in Noida and Greater Noida, and we will sell these apartments slowly to end-users," he said. 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 (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
05-08-2025
- Business
- Time of India
Nimbus Group to invest Rs 1,000 cr on new housing project in Noida
Realty firm Nimbus Group will invest around Rs 1,000 crore to develop a luxury housing project in Noida. The company will develop 342 apartments in the project ' Arista Luxe ' at Sector 168, Noida. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo "We will develop a luxury housing project in Noida. The total investment will be around Rs 1,000 crore," Nimbus Group promoter Bipin Agarwal told reporters here. He said the company has become a co-developer in a 10-acre stalled housing project, which was originally launched by Sunworld Residency Pvt Ltd in 2011-12. In the first phase, spread over 6 acres of land, around 600 units have already been delivered to customers. Live Events "Now, we are developing four towers in about 4 4-acre land parcel," Agarwal said. Out of the total investment, he said, around Rs 500 crore will be for construction. The company would also clear the dues of the Noida Development Authority . It would also pay some amount to Sunworld towards the land cost. Agarwal said the co-developer policy introduced by the authority will help in the completion of many stalled housing projects. Nimbus Group will sell these 342 apartments in a price range of Rs 4-8 crore. The company has launched this project at Rs 16,000-18,000 per sq ft, he added. "The demand is steady in Noida and Greater Noida, and we will sell these apartments slowly to end-users," he said. 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
