Key Development

On June 24, 2026, the company executed a Memorandum of Understanding (MoU) for the proposed collaboration/development of land situated at Village Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh.

Parties Involved

  • Developer: Nimbus Projects Limited
  • Land Owner-1: Kaamag Private Limited
  • Land Owner-2: Maayin's Real Estate Private Limited
  • Land Owner-3: Mr. Sooraj Kumar
  • Confirming Party: Dashrath Singh Naruka

Project Details

  • Location: Village Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh
  • Project Type: Residential township project
  • Land Area: Approximately 25 Acres

Commercial Terms

  • Revenue Sharing Model: 50:50 ratio (50% to land owners & 50% to Developer)
  • Developer Responsibilities: Planning, obtaining statutory approvals, development, construction, marketing, and commercialization of the project
  • The MoU provides framework for due diligence, exclusivity, financing arrangements, security creation, and corporate approvals

Financial Commitments

  • Non-refundable upfront consideration: ₹20,00,00,000 (Rupees Twenty Crores Only) payable upon execution of Joint Development Agreement
  • Refundable security deposit: ₹10,00,00,000 (Rupees Ten Crores Only) payable within 60 days of execution of JDA or receipt of RERA registration for the Project (whichever is earlier)
  • The security deposit shall be adjusted against the Land Owner's revenue shares

Conditions and Next Steps

  • The proposed transaction requires acquisition of additional land by the Company and land owners
  • Definitive transaction documents including Joint Development Agreement, financing documents, security documents, and powers of attorney remain to be executed
  • Transaction subject to completion of due diligence, fulfilment of agreed conditions, and receipt of necessary statutory, regulatory and corporate approvals