The Uttar Pradesh Industrial Development Authority (UPIDA) has directed the Yamuna Expressway Industrial Development Authority (YEIDA) to revise the land allotment of Nimbus Projects Limited, a listed real estate developer, in Sector 3 of YEIDA near the upcoming Noida International Airport.

This revision follows a petition filed by Nimbus under the Project Settlement Policy (PSP), seeking reconsideration of previously surrendered land.

The move is expected to grant Nimbus an additional 1.1 million square feet of development area, with an estimated gross development value of Rs 11 billion, marking the resolution of a long-standing dispute and a major milestone for the company.

Background

Nimbus Projects had earlier surrendered 55,219 sq. m. out of its total 102,995 sq. m. allotment under the PSP, in compliance with the policy’s conditions. Following the revision plea, the Principal Secretary of the Uttar Pradesh Department of Industrial Development directed YEIDA to reassess the allotment, factoring in interest payments already made by the developer.

The latest decision awards Nimbus an extra 24,365 sq. m. of land. With a permissible Floor Area Ratio (FAR) of 3, this equates to about 1.1 million square feet of additional saleable space — significantly enhancing the company’s development capacity and revenue potential.

Implications for Nimbus

In a regulatory filing on 21 October, Nimbus said the order would accelerate its next phase of growth, particularly for its IITL-Nimbus The Palm Village Project, which had been pending for years.

Bipin Agarwal, Chairman and Managing Director of Nimbus Projects Limited, said, “The favourable order from UPIDA and YEIDA marks a significant milestone for us. With 1.1 million square feet of new saleable area, we are positioned to drive our next phase of growth. Strong sales and collection performance in Q2 and the first half of FY26 reaffirm the confidence homebuyers have in the Nimbus brand.”

Robust Sales Momentum

Nimbus also reported healthy pre-sales in its recent filings. In Q2 FY26, sales bookings rose to Rs 2.39 billion from Rs 2.2 billion a year earlier.

For the first half of FY26, total pre-sales reached Rs 3.11 billion, underscoring sustained buyer interest in mid- and premium-housing projects across the National Capital Region (NCR). The new land allotment is expected to further strengthen the company’s ability to meet this demand.

Strategic Location

The newly allotted land, located near the Noida International Airport, holds strategic importance. Its proximity to the airport and growing industrial and infrastructure development in the YEIDA region make it an attractive site for residential expansion. The FAR of 3 enables Nimbus to maximise its construction potential and optimise project design.

Moving Forward

With the UPIDA and YEIDA directives now in effect, Nimbus Projects is set to resume and expand development, unlocking value from a previously disputed land parcel. The leadership has noted that this resolution not only settles a long-standing issue but also paves the way for sustained growth in one of NCR’s most dynamic housing markets.

As the NCR continues to attract buyers in the mid- and premium segments, the additional 1.1 million square feet of development area will be central to Nimbus’s upcoming launches and revenue expansion, consolidating its standing in the competitive real estate landscape.