A company thought I was overqualified for a role, didn't give me the job and said they'd give me a role when the business gets bigger. Are they lying?

They got me in for 3 rounds of interviews, said they'd hoped I'm still interested and we got on really well, but didn't pick me.

A company thought I was overqualified for a role, didn't give me the job and said they'd give me a role when the business gets bigger. Are they lying?
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