Nirlon Ltd (BOM:500307)

Q2 2026 Nirlon Ltd Earnings Call Transcript

Nov 16, 2025 / 05:00 AM GMT

Release Date Price: ₹504.5 (+1.58%)

Transcript

Key Points

Positve

Nirlon Ltd (BOM:500307) reported a 4% year-on-year growth in total income for Q2 2026, reaching INR 169 crores.
The company's EBITDA grew by 2% year-on-year, with an impressive EBITDA margin of 78.69%.
Profit after tax for the quarter was INR 148 crores, with a strong PAT margin of 87.45%.
The average occupancy rate for the company's properties stood at 98.6%, indicating high demand and efficient space utilization.
Approximately 260,000 square feet of space was successfully licensed to major clients like Deutsche Bank, Barclays, MUFG, Citi, and EY, showcasing strong leasing activity.

Negative

The growth impact for the quarter and first half is not directly comparable to previous periods due to a shift to a new tax regime.
Approximately 20,000 square feet of space remains vacant, indicating some challenges in achieving full occupancy.
There is a concentration risk with a significant portion of gross rentals coming from a single tenant, JP Morgan.
The company faces potential risks from increased supply in other micro-markets, which could affect demand and rental rates.
Despite high occupancy, the company has not provided clear guidance on future dividend policies, leaving investors uncertain about returns.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NIRL.BO - Nirlon Ltd
Q2 2026 Nirlon Ltd Earnings Call
Nov 17, 2025 / 05:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Q2 NH 1 F 526 earnings conference call of Nirlo Limited.

As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing 100 on your touchstone phone. I now hand the conference over to Ms. Hina Khari from Valoram Advisors.

Thank you, and over to you, ma'am.

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Unidentified_2 [2]
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Thank you. Good morning, everyone. My name is Hena Khari from

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