STOCKWATCH

Nimbus Projects Ltd. Acquires Development Rights in Sunworld Arista Project for INR 1000.00 Crores

Nimbus Projects Ltd. has executed a Joint Development Agreement with Sunworld Residency Private Limited, acquiring exclusive development and sales rights over the undeveloped portion of the Sunworld Arista project, Phase-II. The project, consisting of Towers 5,7,8 & 9 and a club, spans 12,161.97 Sq. mtr of Plot No. GH- 01C, Sector-168, Noida, Uttar Pradesh. The estimated total cost of the project is INR 1000.00 Crores, with an estimated total sales revenue of approx. INR 1400.00 Crores. Nimbus Projects Ltd. will infuse up to INR 200.00 Crores into the project and plans to avail a project construction facility of up to INR 200.00 Crores from banks/financial institutions. The balance amount will be arranged from the sale of the project. Construction activities will commence immediately upon renewal of maps from the NOIDA Authority.

• Execution of Joint Development Agreement between Nimbus Projects Ltd. and Sunworld Residency Private Limited.
• Acquisition of exclusive development and sales rights over the undeveloped portion of Sunworld Arista project, Phase-II.
• Estimated total cost of the project is INR 1000.00 Crores and estimated total sales revenue is approx. INR 1400.00 Crores.
• Nimbus Projects Ltd. to infuse up to INR 200.00 Crores into the project and avail a project construction facility of up to INR 200.00 Crores.
• Construction activities to start immediately upon renewal of maps from the NOIDA Authority.