Transcript of Nisus Finance Services Co Limited Earnings Zoom Call held on Thursday, February 12, 2026.
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Nisus Finance Services (NIFCO) reported strong Q3 FY26 standalone (ex-NCCCL) revenue of ₹38.74 crore, EBITDA of ₹28.6 crore (73.9% margins), and PAT of ₹20.19 crore (53% margins). Nine-month revenue reached ₹114 crore, already surpassing the entire FY25, with combined platform revenue including subsidiary NCCCL at ₹365.27 crore. Management guided AUM of ₹3,000–4,000 crore by year-end (vs ~₹2,000 crore at H1), with NCCCL PAT margins expected to expand from ~2% to 3.5–4% between FY27 and FY28 driven by diversification into non-residential, hospitality and data center projects. NCCCL's active order book exceeds ₹2,100 crore with a clear pathway to ₹5,000 crore, supported by fresh mandates of ₹40 crore (Hyderabad) and ₹112.5 crore (Lodha, Alibaug). The company also acquired a ~₹536 crore ($60 million) asset in Dubai Motor City, received DFSA approval for DIFC fund operations, and plans to launch tokenization in Q1 FY27 and an SM REIT.
Strong execution, expanding margins and AUM growth trajectory are positive signals for shareholders, though the back-loaded nature of AUM targets and NCCCL's slower margin recovery (visible only from FY27) remain key watchpoints. Debt reduction and disciplined capital deployment reinforce balance sheet strength.