500307

Nirlon share price & financials

Price
₹618.85
Market cap
₹5.6k Cr
Sector
Services
Calls analysed
6
Latest concall · Q1 FY27 · call held 11 Aug 2026

Nirlon Q1 FY27

EBITDA ₹134 cr +1%EBITDA Margin 77.3% PAT ₹69 cr +19%PAT Margin 40.19%

What went well

  • Total income for Q1 FY27 grew 3% year-on-year to ₹173 crores.
  • Profits after tax (PAT) registered a strong 19% year-on-year growth, reaching approximately ₹69 crores.
  • PAT margins stood at a healthy 40.19% for the quarter.
Read the full call →

What Nirlon does

Nirlon Limited develops, owns and manages commercial/IT-ITES real estate, earning income by licensing office space to corporate occupiers under long-term license agreements with built-in rent escalations. Its core asset is Nirlon Knowledge Park (NKP), a multi-phase IT park in Goregaon (East), Mumbai, developed in five phases between 2006 and FY22; it also holds a 75% undivided interest in Nirlon House, an office building in Worli, Mumbai. The company was originally incorporated in 1958 as a manufacturer of synthetic yarns and industrial rubber products, and pivoted to commercial real estate development and leasing from 2006 onward.

Segments

  • Licensing of Investment Properties
Nirlon Knowledge Park (NKP) chargeable area
~3.08 Mn sq ft
NKP constructed area
~4.77 Mn sq ft across 5 phases
NKP campus land area
~23 acres
Nirlon House interest
75% undivided interest in ~0.05 Mn sq ft, Worli, Mumbai
Development phases completed
5 phases (Phase I–V), completed between Oct-2009 and FY22
Track record in commercial real estate
~17 years in commercial/IT-ITES real estate leasing (since 2006)
Founded 1958Headquarters Pahadi Village, off Western Express Highway, Goregaon (East), Mumbai 400 063 Company website

Guidance record · Q1 FY27

what the last two calls moved 9 tracked 4 delivered 1 missed 4 open
  • Total Dividend per Share FY26 delivered said Q1 FY27 Promised: Rs. 30 per share Q1 FY27: For the Financial Year 25-26, we have increased it to Rs. 30 a share.
  • Re-licensing of remaining Morgan Stanley space delivered said Q3 FY25 Promised: 220,000 sq ft concluding in the next few months Q1 FY27: Promise achieved in a prior quarter. No new updates.
  • Routine CAPEX on track said Q2 FY26 Promised: Approximately Rs. 30 crores per annum Q1 FY27: Management confirmed routine CAPEX is ongoing for upgradations and to maintain Grade A office standards.

All 9 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 3.1%, net profit up 19.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue160 161 158 163 165 +3%170 +6%171 +8%168 +3%
EBITDA129 131 123 128 129 +0%132 +1%132 +7%129 +1%
Net profit56 58 54 58 148 +164%69 +19%71 +31%69 +19%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +11.1% 1Y

₹500₹550₹600₹650Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q3 FY26 — 11 Feb 2026Q1 FY27 — 11 Aug 2026

1Y: ₹550 on 10 Sept 2025 → ₹611. High ₹649.35 (2 Sept 2026), low ₹466.2 (30 Sept 2025).

How the price took the results

close before → close after

Q1 FY27
+1.0%
11 Aug
Q3 FY26
+0.2%
11 Feb
Q2 FY26
+1.3%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 5.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 77.9%.

Year endingFY23FY24FY25FY26
Revenue₹573 Cr₹602 Cr₹636 Cr₹669 Cr
Operating profit₹459 Cr₹478 Cr₹503 Cr₹521 Cr
Operating margin80.1%79.4%79.1%77.9%
Interest₹126 Cr₹123 Cr₹117 Cr₹108 Cr
Depreciation₹103 Cr₹57 Cr₹55 Cr₹56 Cr
Net profit₹158 Cr₹205 Cr₹218 Cr₹346 Cr
Net margin27.6%34.1%34.3%51.7%
Cash from operations₹377 Cr₹425 Cr₹480 Cr₹477 Cr
Free cash flow₹292 Cr₹370 Cr₹434 Cr₹434 Cr
ROCE22.0%28.0%30.0%31.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹90 Cr₹90 Cr₹90 Cr₹90 Cr₹90 Cr₹90 Cr
Reserves₹484 Cr₹388 Cr₹312 Cr₹283 Cr₹374 Cr₹378 Cr
Borrowings₹978 Cr₹1.2k Cr₹1.1k Cr₹1.1k Cr₹1.1k Cr₹1.1k Cr
Other liabilities₹353 Cr₹542 Cr₹554 Cr₹607 Cr₹695 Cr₹634 Cr
Total liabilities₹1.9k Cr₹2.2k Cr₹2.1k Cr₹2.1k Cr₹2.3k Cr₹2.3k Cr
Fixed assets₹705 Cr₹2.0k Cr₹1.9k Cr₹1.9k Cr₹1.8k Cr₹1.8k Cr
Capital work in progress₹1.1k Cr₹13 Cr₹6 Cr₹3 Cr₹21 Cr₹7 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹60 Cr₹200 Cr₹163 Cr₹214 Cr₹439 Cr₹411 Cr
Total assets₹1.9k Cr₹2.2k Cr₹2.1k Cr₹2.1k Cr₹2.3k Cr₹2.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +11.23 pp while FIIs trimmed −7.76 pp. The shareholder count shrank 2% to 26,433.

Promoters
67.7%
FIIs
4.5%
DIIs
0.0%
Public
27.9%

Since Jun 2025

  • Public +11.23 pp
  • FIIs −7.76 pp
  • DIIs −3.40 pp

How it drifted, 12 quarters

Over this window the public went from 15.3% to 27.9% — +12.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 70.3%, FIIs 14.4%, DIIs 0.0%, Public 15.3%.Dec '23: Promoters 70.3%, FIIs 14.3%, DIIs 0.0%, Public 15.4%.Mar '24: Promoters 67.8%, FIIs 14.3%, DIIs 0.0%, Public 17.8%.Jun '24: Promoters 67.8%, FIIs 10.5%, DIIs 4.8%, Public 17.0%.Sep '24: Promoters 67.8%, FIIs 10.4%, DIIs 4.8%, Public 17.1%.Dec '24: Promoters 67.7%, FIIs 10.5%, DIIs 4.8%, Public 16.9%.Mar '25: Promoters 67.7%, FIIs 12.0%, DIIs 3.7%, Public 16.6%.Jun '25: Promoters 67.7%, FIIs 12.3%, DIIs 3.4%, Public 16.6%.Sep '25: Promoters 67.7%, FIIs 13.3%, DIIs 2.4%, Public 16.6%.Dec '25: Promoters 67.7%, FIIs 13.3%, DIIs 2.3%, Public 16.7%.Mar '26: Promoters 67.7%, FIIs 15.8%, DIIs 0.1%, Public 16.5%.Jun '26: Promoters 67.7%, FIIs 4.5%, DIIs 0.0%, Public 27.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Nirlon above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Reco Berry Private Limited 63.92%unchanged
Bsrep Iv FPI Two Holdings (Difc) Ltd. 12.15%+0.45 pp
Tvf Fund Limited FPI fund4.31%+0.40 pp
Gulu Chainrai Waney 2.96%unchanged
Nihar Nandan Nilekani 2.62%unchanged
Investor Eduction And Protection Fund Authority 1.62%unchanged
Rahul V Sagar 1.48%unchanged
Deltron Pte Ltd 1.02%unchanged
Rajani Manhar Bhagat 0.75%unchanged
Poonam Manhar Bhagat 0.45%unchanged
Shital Trading And Interiors Pvt. Ltd. 0.03%unchanged
Alfano Pte Ltd 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Nirlon

Guides on how to read this kind of business and the numbers that matter.