Nirlon Limited

BSE: NIRLON · Diversified Commercial Services

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52W Range₹477 – ₹662

Snapshot

Unlock Nirlon Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Nirlon Limited is primarily engaged in the development and management of commercial real estate, specifically industrial and information technology parks. Its core assets include the Nirlon Knowledge Park and Nirlon House located in Mumbai.

Business Model

The company generates revenue primarily through the leasing and management of commercial office spaces and industrial park facilities. It focuses on long-term rental income from corporate tenants within its managed properties.

Growth Outlook

Growth is driven by the sustained demand for high-quality IT and commercial office infrastructure in the Mumbai metropolitan region. Future performance remains tied to occupancy rates and the ability to command competitive rental yields.

Key Risks

  • Concentration Risk. The company's revenue is highly dependent on a limited number of commercial properties, making it vulnerable to local market fluctuations.
  • Interest Rate Sensitivity. As a real estate developer, the company is susceptible to changes in interest rates which impact financing costs and property valuations.
  • Occupancy Risk. Fluctuations in demand for commercial office space due to shifts in corporate hybrid work policies could impact rental income.
  • Regulatory Risk. Changes in real estate regulations, zoning laws, or property taxes in Maharashtra could adversely affect operational profitability.

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Key Metrics

REVENUE

₹674 Cr

TTM · standalone

+5.0%YoY

NET PROFIT

₹357 Cr

TTM · standalone

+57.4%YoY

EPS

₹39.61

TTM · standalone

+57.4%YoY

RETURN ON EQUITY

86.5%

TTM · standalone

+23.0 ppYoY

RETURN ON CAPITAL EMPLOYED

23.8%

TTM · standalone

+0.4 ppYoY

P/E

16.3×

Q1 FY27 · standalone

16.3 vs 19.0x5Y avg

EV/EBITDA

13.0x

Q1 FY27 · standalone

13.0 vs 13.0x5Y avg

EBITDA MARGIN

79.6%

TTM · standalone

-1.6 ppYoY

NET PROFIT MARGIN

41.2%

Q1 FY27 · standalone

+5.4 ppYoY

DEBT TO EQUITY

2.5x

Q1 FY27 · standalone

-0.76xYoY

Peers · Diversified Commercial Services

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Nirlon LimitedNIRLON
₹5,832 Cr16.3×12.985.0%79.6%86.5%23.8%+28.2%
Indiabulls Ltd.IBULLSLTD
₹7,067 Cr16.1×63.85—43.4%34.8%6.0%—
Smartworks Coworking Spaces Ltd.SMARTWORKS
₹5,481 Cr96.8×3.96—66.9%10.5%8.7%-17.3%
LEAP India LimitedLEAPIND
₹5,014 Cr———53.0%———
Elevate Campuses LimitedELEVATE
₹4,845 Cr———40.0%———
Quess Corp LimitedQUESS
₹4,759 Cr18.8×12.57-12.1%2.3%22.5%21.2%+32.9%

As of Q1 FY27

Financials