NISUS FINANCE SERVICES CO LIMI

Operates a real estate-focused financial services platform across India and the UAE, with three revenue streams. The Transaction Advisory business earns fees by structuring real estate transactions for developers and institutional clients, while the Fund & Asset Management business runs SEBI-registered Alternative Investment Funds (AIFs) such as the INR 1,700 crore RESO-I fund, the newly approved INR 1,800 crore Neon Fund (with INR 500 crore greenshoe), and a UAE-focused fund targeting $500 million. The asset management share of revenue shifted from ~35% to 55% by FY26, overtaking advisory at 45%. Following the August 2025 acquisition of NCCCL, a civil construction company now operating as a subsidiary, the group added a construction services segment with an order book of INR 1,833 crore at FY26 end (plus INR 870 crore added in the first two months of FY27). Consolidated FY26 revenue was INR 561 crore, with the core business (excluding NCCCL) at INR 141 crore and a 48% PAT margin. Major cost lines are materials at 24.7% of revenue (driven by the construction segment) and other operating expenses at 41.0%.