Q1 2026 Nirlon Ltd Earnings Call Transcript
Key Points
- Nirlon Ltd (BOM:500307) reported a total income of INR167 crores for Q1 FY26, marking a 6% year-on-year growth.
- The company's EBITDA grew by 8% year-on-year, reaching INR132 crores, with an impressive EBITDA margin of 78.93%.
- Profit after tax for the quarter increased by 17% year-on-year, amounting to INR58 crores, with a PAT margin of 34.95%.
- The average occupancy rate for the company stood at a high 97.5% for the quarter.
- Nirlon Ltd (BOM:500307) has successfully licensed or committed approximately 269,000 square feet of space to major clients like Deutsche Bank, Barclays, MUFG City, and EY.
- The company experienced a temporary vacancy of 280,000 square feet due to Morgan Stanley vacating the premises.
- Despite a high occupancy rate, there was a slight decline from 99.8% in the previous fiscal Q1 to 97.5% in the current fiscal Q1.
- There is uncertainty regarding the future tax regime choice, as the company has yet to decide between the old and new tax regimes.
- The cost of capital has increased, with the spread rising from 200 bps to 233 bps, impacting financial efficiency.
- The company does not have monetizable Transferable Development Rights (TDR), limiting potential revenue from unused development rights.
Ladies and gentlemen, good day, and welcome to the Nirlon Limited Q1 FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, ma'am.
Good afternoon, everyone. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations for Nirlon Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the first quarter of the financial year 2026.
Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by, and information currently available to the management.
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