Nimbus Projects backs ₹23 cr loan for partnership firm
The guarantee is equivalent to 6.3% of market cap, adding a material contingent liability for the nano-cap developer.
— 3 earlier stories on Nimbus Projects Ltd. →What's new
- Board approved guarantee for ₹23 cr loan by partnership firm IITL-Nimbus.
- Loan from ICICI Bank at 10.10% for 36 months, secured by project assets.
- Guarantee is roughly 6.3% of Nimbus's market cap, a significant exposure.
Why this matters
For a ₹367-458 cr market cap developer, a ₹23 cr contingent liability is not trivial. While secured by project assets and receivables, the guarantee forces Nimbus to underwrite its partnership firm's debt, raising its risk profile.
What we're watching
- Whether Nimbus has to honour the guarantee if the project cash flows falter.
- Any additional borrowings or guarantees from the firm that could strain the parent.
- The impact on Nimbus's already weak quarterly profit (₹18 cr loss in Mar 2026).
The full read
Nimbus Projects has extended a corporate guarantee for a ₹23 crore term loan taken by its partnership firm IITL-Nimbus from ICICI Bank. The loan, at 10.10% for 36 months, is secured by project assets in Greater Noida. But for a nano-cap developer with a market cap of around ₹367-458 crore, this guarantee is material — roughly 6.3% of its value. It adds a contingent liability that could strain the parent if the project stumbles. The guarantee comes on the same day Nimbus itself secured a separate ₹40 crore loan from ICICI, and just after a quarter where it reported a net loss of ₹18 crore. The burden is manageable if cash flows hold, but it's a risk worth watching.
Questions answered
- What exactly did Nimbus Projects approve?
- Nimbus Projects finalised terms to act as a guarantor for a ₹23 crore term loan taken by its partnership firm IITL-Nimbus, The Express Park View, from ICICI Bank.
- What are the terms of the loan being guaranteed?
- The loan carries an interest rate of 10.10% and a tenure of 36 months. It is secured by a first pari passu charge on land in Greater Noida, unsold units, future receivables, and escrow accounts of the project.
- How significant is this guarantee for Nimbus Projects?
- The guarantee amount of ₹23 crore is roughly 6.3% of Nimbus's market capitalisation, making it a material contingent liability that elevates the firm's financial risk profile.
- Did Nimbus Projects also take a separate loan on the same day?
- Yes, on the same date (July 27, 2026), Nimbus secured a ₹40 crore term loan from ICICI Bank. This guarantee is for a different loan taken by its partnership firm.
- What are the risks for Nimbus from this guarantee?
- If the partnership firm defaults, Nimbus is liable for the entire loan amount. Although the loan is secured by project assets, the parent company's credit exposure is non-trivial for a firm of its size.
- How is Nimbus's financial health currently?
- Nimbus had a trailing ROE of 22.8% and a debt/equity of 0.67, but its latest reported quarter (Mar 2026) showed a net loss of ₹18 crore on sales of ₹218 crore.
Nimbus Projects Ltd.
Latest quarter · Mar 2026
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Story so far
All notes on NIMBSPROJ →- 28 Jul 2026 · 11:44 AM IST Nimbus Projects backs ₹23 cr loan for partnership firm
- 1d ago Nimbus Projects secures ₹40 cr ICICI Bank loan at 10.10%
- 20d ago Nimbus Projects' Q1 pre-sales jump 134% to ₹157 cr
- 67d ago Nimbus Projects signs MoU for a 25-acre Vrindavan development