Nirlon500307Earnings call transcript

Q2 FY27 earnings call: income Rs. 174 crores, occupancy 99.8%, HSBC repayment from May 2027

Nirlon held its Q2 and H1 FY27 earnings conference call on November 2, 2026; the transcript is now shared with the exchanges.

By ScoutQuest · Fri 6 Nov 2026, 8:01 PM IST · 2 min read

approximately Rs. 72 crores-51.4%

Q2 FY26Rs.148 croresQ2 FY27approximately Rs. 72 crores

Profit after tax: Rs.148 crores (Q2 FY26) and approximately Rs. 72 crores (Q2 FY27).

Q2 total income: Rs. 174 crores
Q2 EBITDA: Rs. 137 crores at a 78.4% margin
Average occupancy: 99.8% across Nirlon Knowledge Park and Nirlon House

Quarter performance

Nirlon reported total income of Rs. 174 crores for Q2 FY27. EBITDA stood at Rs. 137 crores, a margin of 78.4%. Profit after tax for the quarter was approximately Rs. 72 crores.

Comparison with the same quarter last year

Profit after tax in Q2 FY26 was Rs.148 crores. Management said the year-on-year change is not comparable, because Q2 FY26 carried a one-time impact from re-measurement of deferred tax liability when the company moved to the new tax regime from Q2 FY26 onwards.

Half year performance

For H1 FY27, total income was Rs. 347 crores and EBITDA was Rs. 270 crores.

Operations

Average occupancy across the portfolio, comprising Nirlon Knowledge Park (NKP) and Nirlon House, was 99.8% during Q2 FY27.

During the quarter, NIUM India Private Limited renewed space at Nirlon Knowledge Park that was due for renewal in FY28.

Debt

An investor asked why part of the borrowing moved from long-term to short-term. The CFO explained that the HSBC (Hong Kong Bank) loan repayment will start next year from May 2027 onwards, and that is why that portion has been moved from non-current to current.

On whether any prepayment should be expected, management said the repayment of principal will be as per schedule and in line with the terms of the facility agreement with HSBC.

Cash balances and dividend question

An investor asked how minority shareholders should view the company's cash and bank balance and whether it would be used for loan repayment or dividend. Management said there is no specific plan or specific action that has been discussed for these cash balances at this point, and pointed to the company's record of paying dividends consistently over the past few years.

The call was attended by Mr. Rahul V. Sagar, Chief Executive Officer and Executive Director, Mr. Manish B. Parikh (Parekh), Chief Financial Officer and Vice President (Finance), Mr. Jasmin K. Bhavsar, Company Secretary, Vice President (Legal) and Compliance Officer, and Mr. Ashish Bharadia, Vice President (Business Development and Investor Relations) of Nirlon Management Services Pvt. Ltd. The interaction was in a question-and-answer format, with the presentation available on the company's website.

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