UP govt orders Yamuna Expressway Authority to recalculate land allotment for Nimbus Projects near Noida Airport

UP Govt orders Yamuna Expressway Authority to recalculate land allotment for Nimbus Projects near Noida Airport

The Uttar Pradesh Industrial Development Authority (UPIDA) has directed the Yamuna Expressway Industrial Development Authority (YEIDA) to revise and recalculate the land allotment made to listed real estate developer Nimbus Projectsin YEIDA sector 3 near the upcoming Noida Airport.

The directive follows a revision petition filed by Nimbus, seeking reconsideration of its earlier land surrender under the Project Settlement Policy (PSP). The move is expected to bring the company an additional 1.1 million square feet of development area with an estimated potential of Rs 1,100 crore.

Acting on the plea, the Principal Secretary, Department of Industrial Development, Uttar Pradesh government instructed YEIDA to reassess the allotment after factoring in interest payments already made by the developer.

Nimbus Projects Limited is a publicly listed real estate company headquartered in New Delhi.

The realty firm had previously surrendered 55,219.178 sq. m. out of a total 102,995.70 sq. m. of land. The latest order effectively upholds the company’s claims, resolving a long-pending dispute.

The company said that following the order, which comes after a protracted matter concerning IITL-Nimbus The Palm Village Project, Nimbus would receive an additional 24,365 sq. m. of land from YEIDA with a permissible FAR of 3, resulting in a gross development value of Rs 1100 crore, the company said in a regulatory filing on October 21.

“The favourable order from UPIDA and YEIDA marks a significant milestone for us. With the addition of 1.10 million square feet of new saleable area, we are well positioned to accelerate our next phase of growth. The strong sales and collection performance in Q2 and the first half of FY26 reaffirm the confidence homebuyers have in the Nimbus brand,” Bipin Agarwal, Chairman and Managing Director of Nimbus Projects Limited, said.

In a regulatory filing dated October 18, Nimbus said its sales bookings (pre-sales) grew to Rs 239 crore in Q2 FY26, up from Rs 220 crore in the same quarter last year.

For the first half of FY26, the company’s total pre-sales stood at Rs 311 crore reflecting continued buyer interest in the NCR region’s mid- and premium-housing segments.