Nirlon Ltd
BSE:500307
Nirlon Ltd
Nirlon Ltd. engages in the development and management of real estate properties. The company is headquartered in Mumbai, Maharashtra. The firm is focused on development and management of industrial park operations at Goregaon (East), Mumbai. The firm owns Nirlon Knowledge Park (NKP), which is an industrial park/information technology (IT) park covering approximately 23 acres in Goregaon. The firm offers office premises to international and Indian corporates.
Nirlon Ltd. engages in the development and management of real estate properties. The company is headquartered in Mumbai, Maharashtra. The firm is focused on development and management of industrial park operations at Goregaon (East), Mumbai. The firm owns Nirlon Knowledge Park (NKP), which is an industrial park/information technology (IT) park covering approximately 23 acres in Goregaon. The firm offers office premises to international and Indian corporates.
Revenue Growth: Nirlon reported Q2 total income of INR 169 crores, up 4% year-on-year, and H1 income of INR 336 crores, up 5% year-on-year.
High Margins: The company delivered strong EBITDA margins of around 79% and PAT margins of 87% in Q2, supported by high occupancy and cost discipline.
Occupancy Levels: Average occupancy remained very high at 98.6% with negligible vacancies, and most vacant space is already in discussion for leasing.
Portfolio Leasing: 260,000 sq. ft. was successfully leased during the quarter to major clients, with most new contracts including annual rental escalations.
Tax Regime Shift: Nirlon shifted to the new concessional tax regime from Q2 FY '26, resulting in a deferred tax liability reversal of INR 69.5 crores.
Dividend Paid: A final dividend of INR 11 per share (110%) for FY '25 was paid in Q3 as approved by shareholders.
CapEx Guidance: Annual maintenance CapEx is expected to be around INR 30 crores, with a significant portion capitalized.
No Update on Restructuring: Management confirmed there are no new developments regarding potential restructuring or REIT plans.
