Hi Vasram,
Welcome to Fedora ! I am glad to know that you are interested ! Sorry for the delayed response. I am also forwarding this to Sachin so that we can have faster responses henceforth.
It is definitely not late to apply - and we would love to help with your application in any way possible. If we are not on IRC, email us and we will definitely reply soon.
This project will mainly involve statscache development and improving the statscache docs. The final deliverables will include code development for statscache and plugins so that it collects and stores metrics + well written documentation.
As an initial contribution, we would love to see a few of these things - if not all,