Nimbus Projects secures ₹250 cr loan, exceeding its own net worth
The nano-cap developer is borrowing from Piramal Finance to fund corporate activities, a move that adds debt equal to 60% of its market cap.
— 3 earlier stories on Nimbus Projects Ltd. →What's new
- Nimbus Projects will borrow ₹250 cr from Piramal Finance over 48 months.
- The loan exceeds the company's standalone net worth of ₹215.64 cr.
- Funding is split into two tranches at 13% and 11.75% interest rates.
Why this matters
This debt is massive relative to the company's size. It effectively resets the financial risk profile. By borrowing more than its total net worth, Nimbus is betting heavily on the liquidity provided by the Yamuna Expressway project assets.
What we're watching
- How the company allocates these funds across its project portfolio.
- Whether the high interest burden impacts future cash flows.
- Any further disclosures on the use of proceeds for debt restructuring.
The full read
Nimbus Projects is taking on ₹250 crore in new debt from Piramal Finance. For a developer with a market capitalization of ₹420 crore, this is a major move. The loan facility, which carries interest rates of 13% and 11.75%, exceeds the company's standalone net worth of ₹215.64 crore.
It is a massive bet.
The 48-month facility is secured by leasehold land at 'The Palm Village' project on the Yamuna Expressway and future project receivables. With promoters providing personal guarantees and IITL-Nimbus joining as a co-borrower, the company is committing significant resources to secure this liquidity. This transaction shifts the company's financial risk profile overnight. The open question is whether this capital will be used to accelerate development at the Yamuna Expressway site or to restructure existing obligations.
Questions answered
- What is the scale of this loan relative to the company?
- The ₹250 crore facility is substantial for a company with a ₹420 crore market capitalization and a standalone net worth of ₹215.64 crore.
- How is the loan structured?
- The facility is split into two tranches: ₹200 crore at 13% interest and ₹50 crore at 11.75% interest, with a total tenure of 48 months.
- What assets are backing this debt?
- The loan is secured by a mortgage over leasehold land at 'The Palm Village' in Sector 22A, Yamuna Expressway, and the hypothecation of project receivables.
- Who is responsible for the repayment?
- Nimbus Projects is the primary borrower, with the partnership firm IITL-Nimbus acting as a co-borrower. Additionally, the company's promoters have provided personal guarantees.
Story so far
All notes on NIMBSPROJ →- 28 May 2026 · 11:50 AM IST Nimbus Projects secures ₹250 cr loan, exceeding its own net worth
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