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.
Income Growth: Nirlon reported Q3 total income of INR 173 crores, up 6% year-on-year, and 9-month income of INR 509 crores, up 5% year-on-year.
Profitability: Q3 EBITDA reached INR 135 crores (up 1% YoY) with a margin of 77.93%, and PAT was INR 69 crores (PAT margin 40.04%).
Occupancy: The company maintained a high occupancy rate of 99.7% across its properties, with only about 7,800–8,000 square feet vacant.
Dividend: An interim dividend of INR 15 per share was declared for FY '26, consistent with prior years, with further payout decisions to be taken at year-end.
Rental Increases: Income increases are mainly from contracted rent escalations; new lease renewals are seeing higher rates (e.g., Citi renewal above INR 185 per sq. ft.).
No Expansion Plans: Management reiterated there are no current plans for major asset expansion, vertical development, or entry into new cities.
Cash Position: The company holds INR 325 crores in cash as of 31 January, with no immediate use planned beyond dividends and normal operations.
