BSE: 544296
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%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fund & Asset Management (55%), Transaction Advisory (45%), Civil Construction (NCCCL subsidiary). Asset-light financial services platform with a recently added construction subsidiary
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 66 | 561 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 16.31 | 29.46 |
| ROE % · ROCE % | — · 25.5 | — · 26.9 |
| Debt / equity (x) | — | — |
| Cash from operations | (6) | (20) |
| Capex | (4) | (15) |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 33 | 33 | 28 | 140 | 225 | 421 |
| Profit before tax | 25 | 16 | 20 | 51 | 26 | 52 |
| Net profit | — | — | — | — | — | — |
| EPS (₹) | 10.35 | 6.31 | 6.77 | 13.21 | 8.59 | 16.25 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINSERV LTD. | 2,68,128 | 26.4 | 1.90 | — | 14.0 | — | 20.0 | 40.8 |
| BAJAJ HOLDINGS & INVS LTD | 1,21,311 | 13.7 | 1.47 | — | 11.9 | — | 21.8 | 92.9 |
| CHOICE INTERNATIONAL LTD | 16,040 | 62.0 | 8.80 | 39.3 | 13.0 | 13.9 | 46.0 | 36.8 |
| EDELWEISS FIN SERV LTD | 11,661 | 16.3 | 1.96 | — | 11.4 | — | 2.2 | 29.3 |
| JM FINANCIAL LIMITED | 10,465 | 10.1 | 0.92 | — | 10.6 | — | 5.1 | 60.3 |
| RANE HOLDINGS LIMITED | 2,153 | 25.5 | 1.51 | 6.2 | 9.6 | 11.7 | 23.7 | 7.5 |
| BF INVESTMENT LIMITED | 1,470 | 3.8 | 0.17 | — | 3.3 | — | 36.0 | 90.4 |
| BALMER LAWRIE INVSTS. L | 1,393 | 10.8 | 0.62 | — | 12.4 | — | 12.2 | 18.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.4 | 10.8 | 1 of 13 | 100% |
| ROCE | 21.6 | 11.2 | 1 of 8 | 100% |
| Revenue growth | 1186.3 | 18.6 | 1 of 15 | 100% |
| Market cap | 361 | 1208 | 13 of 16 | 20% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Compliance certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · All 7 resolutions passed at Nisus Finance 13th AGM | compliance | minimal | — | — |
| 28 Sept 2026 · Clarification on delay in reporting Company Secretary resignation | compliance | low | — | — |
| 26 Sept 2026 · Nisus Finance to meet institutional investors on Sept 29 | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Company Secretary and Compliance Officer resigns | management changes | high | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 ahead of H2 FY26 results | compliance | minimal | — | — |
| 2 Sept 2026 · Nisus Finance 13th AGM notice published in newspapers | compliance | minimal | — | — |
| 2 Sept 2026 · Nisus Finance submits FY26 Annual Report and 13th AGM Notice | board shareholder meetings | medium | — | — |
| 1 Sept 2026 · Nisus Finance dispatches notice for 13th AGM on September 24, 2026 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · 13th AGM scheduled for September 24, 2026 via video conferencing | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.