Nimbus Projects Limited has informed the Exchange regarding 'Execution of Memorandum of Understanding'.
NIMBSPROJ · price
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Nimbus Projects Limited has entered into a MoU dated May 21, 2026 with Kaamag Pvt. Ltd. and Maayins Real Estate Pvt. Ltd. for developing approximately 25 acres of land at Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh. The company will pay INR 20 crore as a non-refundable upfront amount and an additional INR 10 crore as an adjustable/refundable security deposit within 60 days or project launch. Revenue from residential and commercial development will be shared on a 50:50 basis. The company will handle approvals, development, and marketing activities. The MoU is preliminary and non-binding, subject to due diligence, title verification, regulatory approvals, and execution of definitive agreements.
This represents a significant expansion of Nimbus Projects' land development portfolio in a religious tourism corridor near Vrindavan. The INR 30 crore commitment increases financial exposure but also diversifies revenue streams through a joint development model.