Nimbus Projects Ltd.
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ABOUT
AI Sector View
AI GENERATEDRealty
Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.
PROS
- Company has delivered good profit growth of 31.9% CAGR over last 5 years
- Promoters have been increasing their shareholding - up 19.2pp over 2 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.4%
- Latest quarter profit grew 100.9% YoY, showing strong momentum
- Company has delivered good sales growth of 79.7% CAGR over last 5 years
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (72.9% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.24x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 681.00 | 37.92 | 168568.73 | 1.17 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1220.60 | 29.56 | 121965.19 | 0.35 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| PHOENIXLTD | 1960.00 | 54.77 | 70104.86 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 13.70 | 59.77 |
| PRESTIGE | 1625.00 | 61.46 | 69993.66 | 0.12 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| OBEROIRLTY | 1904.60 | 26.33 | 69251.68 | 0.42 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| GODREJPROP | 1986.60 | 37.40 | 59841.66 | 0.50 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| BRIGADE | 712.95 | 33.47 | 23260.66 | 0.21 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ANANTRAJ | 628.50 | 39.09 | 22618.27 | 0.16 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| ABREL | 1376.10 | 116.21 | 15370.44 | 0.18 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1254.70 | 58.18 | 13419.50 | 0.48 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 793.70 | 10.70 | 11166.25 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 34.77 | -8.10 |
| NIMBSPROJ | 153.50 | 0.00 | 296.54 | 0.00 | 32.60 | 109.16 | 29.35 | 652.56 | 36.06 | -109.61 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 0 | 0 | 5 | 169 | 6 | 2 | 1 | 4 | 4 | 2 | 218 | 29 | |
| 2 | 1 | 2 | 7 | 180 | 9 | -106 | 137 | 39 | -1 | 25 | 229 | 192 | |
| Operating Profit | -1 | -1 | -2 | -2 | -10 | -3 | 108 | -136 | -35 | 6 | -22 | -10 | -162 |
| OPM % | -191.18% | -353.57% | -11150.00% | -39.59% | -6.12% | -56.48% | 4948.40% | -16396.39% | -904.10% | 127.17% | -991.15% | -4.77% | -553.36% |
| 3 | 0 | 0 | 21 | -21 | 129 | -69 | 12 | 17 | 22 | -19 | 7 | 111 | |
| Interest | 1 | 1 | 1 | 1 | 3 | -0 | 3 | 5 | 2 | 2 | 2 | 18 | 38 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Profit before Tax | 1 | -2 | -3 | 19 | -34 | 126 | 36 | -130 | -21 | 25 | -44 | -22 | 36 |
| Tax % | 38.36% | -7.37% | 1.26% | 14.78% | -0.73% | 12.70% | 49.50% | 21.12% | -13.40% | 31.51% | 8.28% | 20.15% | 10.24% |
| Net Profit | 0 | 0 | 0 | 0 | -117 | 232 | -119 | -114 | -356 | 20 | -41 | -312 | 33 |
| 0.42 | -2.14 | -2.90 | 21.01 | 25.29 | 88.86 | 49.35 | -104.74 | -32.82 | 18.43 | -21.34 | -16.13 | 1.69 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 8 | 7 | 5 | 10 | 5 | 4 | 2 | 6 | 178 | 228 | |
| 11 | 35 | 12 | 15 | 15 | 24 | 7 | 4 | 9 | 220 | 271 | |
| Operating Profit | -4 | -28 | -4 | -11 | -6 | -19 | -3 | -1 | -3 | -41 | -43 |
| OPM % | -49.17% | -349.59% | -58.68% | -228.31% | -59.32% | -418.04% | -72.49% | -54.71% | -57.39% | -23.22% | -19.09% |
| 1 | 4 | 5 | 4 | 49 | 2 | 22 | 34 | 10 | 51 | 21 | |
| Interest | 1 | 5 | 8 | 9 | 27 | 4 | 4 | 10 | 5 | 11 | 26 |
| Depreciation | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 |
| Profit before Tax | -5 | -29 | -8 | -15 | 17 | -22 | 15 | 22 | 1 | 70 | -37 |
| Tax % | -2.48% | -0.03% | -0.95% | -0.87% | 5.30% | -0.67% | 2.58% | 0.32% | 99.05% | 9.62% | -0.57% |
| Net Profit | -5 | -29 | -8 | -16 | 16 | -22 | 14 | 22 | 0 | 64 | -37 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 29.83 | -29.84 | 13.88 | 20.37 | 0.01 | 58.07 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 26%
- 5 Years:
- 80%
- 3 Years:
- 259%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 23%
- 3 Years:
- 64%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- -3%
- 5 Years:
- 16%
- 3 Years:
- 27%
- Last Year:
- 82%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 7 | 7 | 7 | 7 | 7 | 11 | 11 | 11 | 11 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60 |
| 3 | 50 | 39 | -63 | -41 | -63 | -49 | -27 | -27 | 160 | |
| 4 | 77 | 94 | 174 | 122 | 128 | 129 | 131 | 138 | 231 | |
| Trade Payables | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 169 |
| 104 | 3 | 5 | 9 | 5 | 6 | 5 | 2 | 5 | 473 | |
| Total Liabilities | 120 | 138 | 147 | 128 | 94 | 79 | 97 | 117 | 127 | 1,103 |
| 6 | 6 | 6 | 5 | 5 | 4 | 4 | 3 | 22 | 49 | |
| 82 | 100 | 105 | 90 | 60 | 49 | 67 | 80 | 87 | 321 | |
| 28 | 27 | 23 | 23 | 20 | 17 | 17 | 16 | 15 | 666 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | |
| Cash & Bank | 1 | 1 | 2 | 1 | 2 | 0 | 0 | 1 | 1 | 12 |
| 4 | 4 | 11 | 10 | 9 | 8 | 9 | 17 | 2 | 36 | |
| Total Assets | 120 | 138 | 147 | 128 | 94 | 79 | 97 | 117 | 127 | 1,103 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 9 | 23 | 1 | 7 | 4 | 1 | 2 | 4 | 11 | -121 | |
| Cash from Investing | -23 | 5 | -10 | -0 | -0 | -3 | -1 | 1 | -14 | -32 |
| Cash from Financing | 2 | -28 | 10 | -8 | -3 | 2 | -0 | -4 | 2 | 163 |
| -12 | -0 | 1 | -1 | 1 | -1 | 0 | 1 | -1 | 10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -6.53 | -41.41 | -15.28 | -29.28 | 29.83 | -29.84 | 13.14 | 20.37 | 0.01 | 58.07 |
| Book Value (₹) | 14.11 | 77.26 | 61.98 | -74.80 | -44.69 | -74.52 | -34.86 | -14.49 | -14.48 | 157.28 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | -5.82 | -38.26 | -9.75 | -20.26 | 21.95 | -29.39 | 13.40 | 20.60 | 0.20 | 59.76 |
| PROFITABILITY | ||||||||||
| Operating Margin % | -40.00% | -293.82% | 5.52% | -137.05% | 461.25% | -381.13% | 502.07% | 1427.40% | -57.39% | -23.22% |
| Net Margin % | -64.47% | -367.46% | -106.86% | -333.60% | 167.67% | -480.92% | 368.72% | 974.07% | 0.18% | 35.71% |
| ROE % | -9.38% | -85.34% | -15.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 82.29% |
| ROCE % | -4.49% | -50.22% | -0.29% | -126.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 36.06% |
| -3.60% | -22.44% | -5.51% | -11.32% | 14.35% | -25.62% | 16.22% | 20.66% | 0.01% | 10.35% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 361 | 104 | 84 | 67 | 20 | 31 | 44 | 98 | 36 | 21 |
| Inventory Days | 1428 | 1270 | 1257 | 1803 | 808 | 1448 | 1604 | 2616 | 939 | 697 |
| Payable Days | 140 | 125 | 85 | 247 | 32 | 33 | 243 | 90 | 56 | 174 |
| 1650 | 1249 | 1257 | 1623 | 795 | 1446 | 1405 | 2623 | 919 | 543 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.13x | 0.04x | 0.29x | -0.12x | -0.14x | -0.14x | -0.17x | -0.23x | -0.44x | 1.08x |
| Interest Coverage (x) | -3.28x | -4.51x | -0.02x | -0.80x | 1.63x | -4.43x | 4.26x | 3.22x | 1.22x | 7.39x |
| 3.88x | 5.81x | 5.31x | 2.96x | 5.69x | 4.51x | 5.26x | 17.52x | 4.27x | 1.29x | |
| GROWTH | ||||||||||
| Revenue Growth % | -55.78% | 2.49% | -7.08% | -36.53% | 104.29% | -51.45% | -16.33% | -41.31% | 158.96% | 2937.53% |
| Operating Profit Growth % | -13.93% | -652.82% | 101.75% | -1676.43% | 787.53% | -140.12% | 210.22% | 66.86% | -80.00% | 53.55% |
| Net Profit Growth % | -22.47% | -484.22% | 72.98% | -98.15% | 202.68% | -239.25% | 164.15% | 55.05% | -99.95% | 0.00% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -99.95% | 0.00% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 3379.59x | 4.39x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | -2.29x | 1.62x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.53x | 45.17x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Nimbus Projects Limited has informed the Exchange about Copy of Newspaper Advertisement regarding 33rd Annual General Meeting of the Company through Video Conferencing / Other Audio Visual Means ( VC/OAVM )
2026-09-04 - Nimbus Projects Limited has informed the Exchange about Physical Letter sent to Shareholders pursuant to Regulations 30 and 36(1)(b) of the SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015
2026-09-03 - Nimbus Projects Limited has informed the Exchange regarding Notice Convening The 33Rd Annual General Meeting Schedule To Be Held On Tuesday, September 29, 2026 At 12:30 P.M. (IST) Through Video Conferencing (VC)/ Other Audio Visual Means (OAVM)
2026-08-20 - Nimbus Projects Limited has informed the Exchange about Copy of Advertisement as published in Newspapers dated August 20, 2026 in respect of convening of Annual General Meeting of the company on Tuesday, September 29, 2026
2026-08-14 - Nimbus Projects Limited has informed the Exchange about Newspaper Publication for Un-audited Financial Results (Standalone & Consolidated) for the quarter ended 30.06.2026
2026-08-13 - Nimbus Projects Limited has informed the Exchange about Corrigendum to Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-12 - Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-12 - Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015-Renewal of loan/ credit facility
2026-08-12 - Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015-Recommending Appointment of Director ((Non-Executive, Non-Independent Director) of the Company
News
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