Financial Performance
Nisus Finance demonstrated significant scalability in FY26, with consolidated annual revenue reaching ₹561 crore, largely influenced by the integration of its EPC subsidiary, NCCCL. The core advisory and asset management business delivered ₹141 crore in revenue, exceeding the previously guided range of ₹120-140 crore. Profitability metrics were equally robust, with PAT growing 108% YoY to ₹68 crore.
The company maintains a lean operational structure, evidenced by its core EBITDA margin of 70.5%. Over the last four years, the company has achieved a PAT CAGR of 202%, significantly outpacing its revenue CAGR of 112%, indicating strong internal efficiencies.
Management Outlook
The leadership team has outlined an aggressive growth roadmap for FY27, focusing on diversifying its product portfolio and expanding its geographical footprint. Management expects core AUM to reach between ₹4,500 crore and ₹5,000 crore, supported by a ₹700 crore pipeline in India and a ₹2,000 crore pipeline in the UAE. A key strategic priority is the launch of the ₹1,800 crore Neon Fund and the entry into digital asset tokenization.
For the EPC segment, the company targets revenue of ₹850 crore, supported by a robust order book that grew to over ₹2,600 crore by May 2026.
Sector Dynamics
While the broader Indian real estate sector remains healthy, management highlighted localized regulatory shifts that have impacted execution speeds. Administrative transitions in Gujarat and the introduction of the e-Khata system in Karnataka led to temporary delays in pipeline conversion. Internationally, the UAE market is seeing a fundamental shift as institutional and end-user buyers replace speculative investors, which management believes enhances portfolio stability.
Despite geopolitical volatility in West Asia delaying approximately ₹800 crore in transactions, the company maintains high demand visibility for its specialized financial services.
Business Overview
Nisus Finance Services Co. Ltd. is an integrated financial services provider specializing in real estate asset management and advisory.
Following the acquisition of NCCCL, the firm now offers a comprehensive suite of services ranging from capital sourcing to Engineering, Procurement, and Construction (EPC) execution. This integrated model allows the company to capture value across the entire project lifecycle. Currently, the revenue mix is balanced between Advisory (45%) and Asset Management (55%), with a growing emphasis on institutional-grade funds and cross-border real estate solutions.
What to Watch
- Execution of the ₹2,600 crore NCCCL order book and its impact on consolidated EBITDA margins.
- Timeline for the launch and first close of the ₹1,800 crore Neon Fund.
- Stabilization of regulatory processes in micro-markets like Karnataka and Gujarat.
- Progress on digital asset tokenization as a new revenue stream.
