Nisus Finance Services Co. Ltd. · BSE:NISUS
Nisus Finance Services — Q4 FY2026 Earnings Presentation
66 slides from Nisus Finance Services's earnings presentation, May 26, 2026
Slide 1: BSE cover letter: investor presentation intimation
Date: May 26, 2026 To, Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400001 Scrip Code: 544296 ISIN: INE0DQN01013 Subject: Investor Presentation on half year and financial year ended FY 2025-26 Earnings Conference Call In furtherance to the Intimation
Slide 2: Earnings Presentation Q4 FY2026
Nisus Finance Services Co Limited Earnings Presentation Q4 FY2026
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Nisus Finance Services Co Limited (“NISUS”, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 4: Agenda
01. 02. Q4 & FY26 Financial updates highlights 03. 04. About the Annexures company
Slide 5: Q4 FY26 updates & FY27 Outlook
Q4 FY26 updates & FY27 Outlook Assessed the Risk. Managed the Crisis. Preserved What Matters. 4
Slide 6: Dear Shareholders
“ Dear Shareholders, FY26 Was the Year INDIA PLATFORM India’s primary real estate market delivered structural strength with primary housing in tier-1 cities growing 8% with average ticket size increased by 30% in last two years even as broader markets moderated [1], and India's AIF industry crossing
Slide 7: FY26: Exceptional Full-Year Performance Despite External Volatility
FY26 : Exceptional Full-Year Performance Despite External Volatility Guidance exceeded across metrics with resilient profitability, strengthened financial position, and continued platform growth. Revenue PAT & PAT margin EBITDA & EBITDA margin Nisus Core Business - Fund FY26 Nisus Core INR 141 Cr IN
Slide 8: FY26 Financial Highlights - Nisus Core Business & Consolidated
FY26 Financial Highlights - Nisus Core Business & Consolidated* Total Income (in INR Cr) 229.1 203.0 Nisus Core Business • Consistent strong momentum across all quarters – Full year Revenue grew by 110% • Investment gain on sale of securities in Q2 & Q3 96.1 • Q4 Core revenue of INR 27.4 Cr reflects
Slide 9: West Asia Crisis: Near-Term Disruption, Long-Term Thesis Intact
West Asia Crisis: Near-Term Disruption, Long-Term Thesis Intact Feb’26-May’26: The shock is real UAE - Structural Demand Intact Military Strikes ✓Dubai residential occupancies & rental yields remain Dubai RE Market intact - "recalibrating, not retreating" Over 1,130 projectiles targeted Transaction
Slide 10: Nisus: Antifragile by design, Capital protection by discipline
Nisus: Antifragile by design, Capital protection by discipline Impact on NISUS : Transaction Activity & Timelines Affected Risk Factor UAE Portfolio India Portfolio Positive — Ready-to-move-in demand increased by Positive — Increases stress in RE sector, pushes demand for High Crude / Inflation over
Slide 11: FY26: Execution Proven. Resilience Demonstrated.
FY26 : Execution Proven. Resilience Demonstrated. Platform Strength Reinforced. FY26 was a landmark year that demonstrated the strength of the Nisus model across execution, scale, and market volatility. Accelerated Investment Exceeded guidance NCCCL Turnaround Capital Strength Momentum ✓ Revenue: IN
Slide 12: AUM Momentum
AUM Momentum We know exactly what moved the AUM number and exactly what brings it back. AUM (INR in Cr) AUM (%) FY25 FY26 300 42% 500 4900 29% 71% 58% 2631 1572 FY25 FY26 UAE AUM India AUM FY27- Deferment Deferment Projection India Dubai India Dubai • 70% increase in AUM with 5 investments across In
Slide 13: India Platform FY26: Capital Deployed, Protected & Returned
India Platform FY26: Capital Deployed, Protected & Returned Highlights for FY26 INR 1115 Cr AUM Urban redevelopment & housing Township development Villa development investment INR 440 Cr+ Capital Movement Investment: INR 115 Cr Investment: INR 90 Cr Investment: INR 70 Cr City : Mumbai, Pune City : P
Slide 14: Next Wave Platforms: INR 4,000 Cr AUM Runway
Next Wave Platforms: Built on India's Structural Growth - INR 4,000 Cr AUM Runway. Two New Platforms. One Purpose: Structured, Regulated, Income-Generating Wealth Preservation. Ni-YAM (Nisus Yield & Asset Multiplier) SM REIT: Predictable Income, SEBI-Regulated, Fully Transparent • Secured credit - s
Slide 15: UAE - Fund Investments - Appreciating Even in Crisis
UAE - Fund Investments- Appreciating Even in Crisis 4 Investments made, ~50% Appreciation on 2 Assets INR 1516 Cr AUM (233% YoY) Residential Premium Residential Premium INR 2000 Cr+ Largest deal of the building in JVC building in Majan Residential Deal pipeline under year Lootah building in AI Avenu
Slide 16: FY27 Scenarios: Two Paths Forward
FY27 Scenarios: Two Paths Forward — Wealth Preservation in Both Parameters STABILIZATION CASE RECOVERY CASE West Asia Conflict Stabilizes Q2 FY27 · Gulf shipping normalizes by H1FY27 De-escalates Q1 FY27 · Hormuz passage secured MACRO Dubai RE Recovery Wait and watch for better entry price point Cal
Slide 17: NCCCL Acceleration: Re-ignite, Rebuilt, Delivering
NCCCL Acceleration : Re-ignite, Rebuilt, Delivering Strategic Acquisition Driving New Orders Under Nisus Strengthening Systems & Immediate Performance Gains Stewardship Governance (IPO Readiness) Technology Partnership with PAT (year 1) ~INR 313 Cr Nemetschek (Germany) : 60-yr old global leader in B
Slide 18: NCCCL - Acceleration since Acquisition
NCCCL - Acceleration since Acquisition Runwal Residence Lodha - Alibaug Cowtown Alibaugh, Maharashtra Mumbai, Maharashtra 7.26Lakh Sq ft G+34 floor Residential Tower Civil and Structural Work Welspun 1200 Cr+ Terminus group- JNPT Navi Mumbai, Maharashtra New1053 orders Hyderabad, Telangana Grade A I
Slide 19: Q4 & FY26 Financial Highlights
Q4 & FY26 Financial Highlights
Slide 20: Profit & Loss Statement (Nisus Core Business)
Profit & Loss Statement (Nisus Core Business) Q4, H2 FY26 & FY26 Particulars Q4 FY26 H2 FY26 H2 FY25 H2 YoY FY26 FY 25 YoY Revenue 25.34 63.45 32.70 136.82 64.73 Other Income 2.08 2.74 0.23 4.25 2.56 Total Income 27.42 66.19 32.93 (~101%) 141.07 67.30 (117%) Employee Benefits 5.84 9.89 7.06 20.54 10
Slide 21: Profit & Loss Statement (Consolidated with NCCCL)
Profit & Loss Statement (Consolidated with NCCCL) Q4, H2 FY26 & FY26 Particulars (in INR cr) Q4 FY26 H2 FY26 FY 26 Revenue 195.73 420.62 561 Other Income 7.85 12.00 13.91 Total Income 203.58 432.62 574.92 Cost of Material Consumed 61.18 113.86 138.56 Construction Cost 77.94 170.90 199.92 Employee Be
Slide 22: Financial Highlights - NISUS Ratios
Financial Highlights - NISUS Ratios Financial Ratios Consolidated (FY26) Financial Ratios Nisus Core Business (FY26) Net Profit Ratio (PAT Margin) 14.45% Net Profit Ratio (PAT Margin) 48.0% 66.1% Operating Profit Ratio (EBIT Margin) 23.02% Operating Profit Ratio (EBIT Margin) (+105 bps) Debt Equity
Slide 23: Balance Sheet (Nisus Consolidated)
Balance Sheet (Nisus Consolidated) Particulars FY 26 FY25 Particulars FY 26 FY25 Equity & Liabilities Assets Equity 23.87 23.87 Non-Current Assets Reserves 136.84 Fixed Assets 79.17 3.02 240.19 Minority Interest 2.63 Goodwill on Consolidation 8.41 0.60 126.36 Non-Current Investments 130.05 50.80 Non
Slide 24: Balance Sheet (Nisus Standalone)
Balance Sheet (Nisus Standalone) Particulars FY 26 FY25 Particulars FY 26 FY25 Equity & Liabilities Assets Equity 23.87 23.81 Non-Current Assets Reserves 150.63 123.97 Fixed Assets 2.19 2.30 Non-Current Liabilities Non-Current Investments 139.58 86.70 Long Term Borrowings 0.88 1.17 Deferred Tax Asse
Slide 25: Utilization of IPO proceeds
Utilization of IPO proceeds Amount Proposed Amount Utilized at the Amount Outstanding at the Item Head to be Utilized end of the quarter end of the Quarter Augmenting fund setup, additional licenses, management services and fund management 12.46 11.97 0.49 infrastructure in IFSC-Gift City (Gandhinag
Slide 26: About the Company
About the Company
Slide 27: Company at a Glance
Company at a Glance Nisus Finance - Leading Urban Infrastructure Financing & Asset Management Platform Overview Exponential Growth in 4 years Nisus Revenue(without NCCCL) (FY25 & FY26) 01 Incorporated 2013 2022 2026 Total Revenue Trend CAGR Average IRR (Exited Funds): ~19-20% Revenue INR INR 02 112%
Slide 28: A Three-Engine Growth Model
A Three-Engine Growth Model Fund Management + Transaction Advisory + Strategic Investment in Construction company Core Focus Areas Operating Revenue & • Fund & Asset Management: Manages AIFs focused on real estate credit and special situations. Revenue Mix • Transaction Advisory: Structured credit,
Slide 29: Growth Outlook
Growth Outlook – Metric FY 26 FY 27 Outlook Long-Term Vision AUM INR 2631Cr INR 4,900 Cr $ 1 Bn (~INR 8,000 Cr) by 2028 Revenue INR 141 Cr Refer Scenarios Sustained blended growth Revenue / AUM Ratio 5.37% 2.85% (blended) Maintain 3-3.5% PAT Margins 48% Maintain / Improve Fee-and-carry driven model
Slide 30: Infrastructure: NCCCL Execution Edge
Infrastructure : NCCCL Execution Edge CONSTRUCTION MARKET: USD 1.21 Tr → USD 2.13 Tr by 2030 (12.1% CAGR) Construction Industry USD 128 B USD 133 B USD 2.13 Tr 2024-2030 2025 2026E 2030E 12.1% CAGR FY 9.49% CAGR Baseline +8.8% YoY 2025-2030 NIP/Gati Shakti NCCCL : 78-YEAR LEGACY | 300+ PROJECTS | CO
Slide 31: UAE Expansion
UAE Expansion Building a Global Real-Estate Investment Platform From Mumbai to Dubai — Scaling India’s Real-Asset Expertise Into the GCC Growth Cycle. Strategic Overview Nisus’s Fund Investments: • In 2023–2024, Nisus became among the first Property Location Units Deal Value Status Rental Advantage
Slide 32: Proven Exit Track Record: A Decade of Full-Cycle Execution
Proven Exit Track Record : From 2015 to 2026 - A Decade of Full-Cycle Execution with 20%+ Average IRR All funds fully exited with ~20 % average IRR. Zero loss of capital across 15+ investment. 10+year track record of consistent execution and governance excellence. 3 exits planned for FY27 Real Estat
Slide 33: Industry Outlook: 2025 vs 2026
Industry Outlook: 2025 vs 2026 Growth Trajectory & Strategic Positioning 32
Slide 34: Private Credit: Filling the White Space in Real Asset Financing
Private Credit : Filling the 'White Space' in Real Asset Financing THE STRUCTURAL GAP : Annual Financing Need Banks Can't Fill Indian private credit AUM currently at US $25 Bn, projected to grow at 25%–30% CAGR through 2028 Real estate remains the primary focus, accounting for nearly 25% of all priv
Slide 35: 2025 vs 2026: The Inflection Point
2025 vs 2026 : The Inflection Point From Refinancing to Growth Capital 2025 : The Year of the "Safety Net" 2026 : The Year of the "Growth Engine" Year of Selective Deployment. Overall Indian real estate private capital investments projected to private capital investments in Indian increase real esta
Slide 36: Unlocking the Next Real Estate Supercycle
Unlocking the Next Real Estate Supercycle: Mumbai Redevelopment & Dubai Tokenization MARKET OPPORTUNITY Mumbai Redevelopment To Unlock 44000+ Homes By 2030 Land Unlocked Key Locations 326+ acres Borivali, Andheri Mumbai metro region Western suburbs leading wave Capital Requirement Project Pipeline I
Slide 37: Dubai's Real Estate Machine Doesn't Stop
Dubai's Real Estate Machine Doesn't Stop - Not Even for War Structural Resilience Amid Regional Turbulence - Transactions Surge 31% to AED 252 Billion in Q1 2026 Total Transaction value Real estate transactions Foreign investment value New Investors Dh 252Bn 60,303 Dh 148Bn 29,312 +31% YoY +6% YoY +
Slide 38: Key Growth Drivers
Key Growth Drivers
Slide 39: Key Growth Drivers
Key Growth Drivers Specialised Real- Tokenization & Robust Pipeline – Sectoral Asset Platforms Web3 Innovation: NCCCL Tailwinds & – Compounding The Next Frontier Transitioning to Market Alpha, of Real-Estate >70% non- Opportunity Preserving Investing residential mix Capital 01 02 03 04 05 06 07 08 A
Slide 40: Sector Tailwinds & Market Opportunity
1. Sector Tailwinds & Market Opportunity India's Real Estate & Infrastructure Boom - Strategic Fit for Nisus Finance-1/2 In $ Billion Real-estate Market Infrastructure Market Construction Market 1184 CAGR 482 487 12.1% 231 121 213 2024 2030 2024 2030 2024 2030 Sector Tailwinds Urbanization & Governm
Slide 41: Nisus Strategic Fit: Urban Infrastructure Finance
Nisus Strategic Fit: Leading Urban Infrastructure Finance & Structured Real Estate Credit Fund Manager India's Real Estate & Infrastructure Boom - Strategic Fit for Nisus Finance-2/2 Market Opportunity Nisus Strategic Play Market Size Housing Shortage Self-redevelopment & affordable housing finance
Slide 42: India's First Listed AIF Manager
2. India’s First Listed AIF Manager India’s Only Listed AIF — A Regulatory Moat difficult to replicate.” Regulatory First-Mover Forever Capital Market Flywheel • Only AIF manager ever to list • Listing unlocks direct access to equity and in India - a permanent low-cost debt - fueling AUM compounding
Slide 43: GIFT City Gateway to Global Capital
3. GIFT City Gateway to Global Capital India’s Offshore–Onshore Bridge — Unlocking Global Capital Access Through Regulatory Firsts. 01 Among the first Indian AIFs to receive the Overseas 04 Early-mover positioning provides direct engagement Portfolio Investment (OPI) license under the IFSCA with reg
Slide 44: Tokenization & Web3 Innovation
4. Tokenization & Web3 Innovation: The Next Frontier of Real-Estate Investing Turning Real Assets Into Tradable Digital Securities — Redefining Liquidity, Access & Ownership Strategic Innovation • Partnering with Toyow (Xchain Technologies FZCO). • The deal involves $500 million (~INR 4,100 Cr) in r
Slide 45: Pipeline of Opportunities – India and UAE
5. Pipeline of Opportunities – India and UAE- Deal Pipeline Overview India Pipeline UAE / Dubai Pipeline INR 700 Cr + (~ INR 2000 Cr+) Future Growth Pipeline • Active evaluations across Mumbai, Pune, Advanced-Stage • Focus on residential and Pipeline: (~2000+ Cr) across: Bengaluru, Hyderabad and Ind
Slide 46: Nisus Finance Acquisition of NCCCL
6. Nisus Finance Acquisition of NCCCL: Strategic Fit & Value Creation Analysis NCCCL – Overview & Legacy A 78-year journey of trust, technology, and excellence in construction 78 Years 200 Million+ 300+ • Order book: INR 1833+ Cr across 30+ major projects in Mumbai, Bangalore, Scale & Execution Hyde
Slide 47: Deep-Value Acquisition with Diversified Clientele
Deep-Value Acquisition with Diversified Clientele Driving NCCCL’s Transformation Attractive Valuation Diversified Clientele and Order-Book Strength • Primary equity of INR 70 Cr and CCPS • Turnaround potential: infusion of INR 11.72 Cr Geographic spread: INR Top-tier developer base: 100 % of NCCCL’s
Slide 48: NCCCL's Current Order Book - Key Highlights
NCCCL’s Current Order Book - Key Highlights Total Work Value: Ongoing Projects (Rs 4488 Cr) Balance Work Value - as on 31st Mar 2026 (Rs 1833 Cr) 7.6% 6.9% 5.5% 12.4% 3.0% 2.0% 78.0% 84.7% MAHARASHTRA GUJARAT KARNATAKA TELANGANA MAHARASHTRA GUJARAT KARNATAKA TELANGANA PAN India Projects- Constructio
Slide 49: Working with Marquee Names
Working with Marquee Names EXECUTION TRACK RECORD A Tradition of Partnering with India’s Best Brands We believe in working with clients with established industry legacy, transparency and trust Corporate Presentation 48
Slide 50: Execution Track Record - Winning Repeat Orders
Execution Track Record- Winning Repeat Orders RELIANCE ALKEM PIRAMAL GROUP PRESTIGE GROUP FDC LTD INDUSTRIES LTD. BHARAT PETROLEUM LABORATORIES LTD. • Associated Since - • Associated Since - • Associated Since - CORP LTD. • Associated Since - • Associated Since - 1998 1986 1996 1998 • Associated Sin
Slide 51: Crafting India's Landmarks Since 1946
Crafting India’s Landmarks Since 1946 Corporate Presentation 50
Slide 52: Crafting India's Landmarks Since 1946
Crafting India’s Landmarks Since 1946 Corporate Presentation 51
Slide 53: Crafting India's Landmarks Since 1946
Crafting India’s Landmarks Since 1946 Corporate Presentation 52
Slide 54: Growth Outlook NCCCL – FY26 and Beyond
Growth Outlook NCCCL– FY 26 and Beyond Metric FY 26 FY 27 Outlook Long-Term Vision (FY 30) Order Book INR 1833 Cr ~INR 3500 Cr ~5000 Cr Total Income INR 665Cr ~INR 800-900 Cr ~INR 2000 Cr + EBITDA Margins 10.4% 8.7% 10%+ Order Book & Financial Summary Capital Strength & Global Credibility Less: Reve
Slide 55: Strategic Rationale
Strategic Rationale: Why This Acquisition Makes Perfect Sense for Nisus From INR 141 Cr to INR 700 Cr - On-Ground Data → Superior Deal Selection. Building a Balanced Earnings Engine. 01 NCCCL’s on-site presence gives visibility into 01 FY25 Revenue: Nisus INR 141 Cr + NCCCL developer health, project
Slide 56: Annexures
Annexures
Slide 57: Funds Under NiFCO
Funds Under NiFCO Regulatory Fund Name Theme/Focus Strategic Positioning Sectors/Geographies Structure Special situations • Targeting high-liquidity, high-margin plotted developments in fast-growing markets. • Plotted Development • Capitalizing on infra-led land value appreciation • Special situatio
Slide 58: Funds Under NiFCO
Funds Under NiFCO Regulatory Fund Name Theme/Focus Strategic Positioning Sectors/Geographies Structure • Structured capital for under-capitalized but sound • Self-redevelopment assets. Real Estate Special Situations • Legacy projects • Focus on asset turnaround & time-bound exits. Special SEBI Categ
Slide 59: Strategic Differentiators
Strategic Differentiators Early mover in urban infra + cross-border DIFC licensing positions NiFCO as India’s first real-asset vertical with proven credit fund house with an integrated GCC platform performance Fee-and-carry structure enhances RoE; no Demonstrated governance (CareEdge A-rating depend
Slide 60: Journey of Transformation
Journey of Transformation From Domestic Specialist to Cross- Certified Expanded DIFC office in Dubai Border Urban Infrastructure Leader 2025 “Great Place Present with 8+ investment to Work®” professionals A Decade of Strategic Transformation Launched Raised 101 Cr closed-ended Nisus Finance Services
Slide 61: NiFCO's Accolades – A Testament To Excellence
NiFCO’s Accolades – A Testament To Excellence 2015 2017 2018 2021 2022 Honored by NAREDCO Recognized by Honored again by Awarded Best Emerging Recognized at NAREDCO for contribution at Real NAREDCO at Real NAREDCO for Real Estate Fund by Zee Finance Conclave for Estate & Infrastructure Estate & Infr
Slide 62: In the News
In the News Nisus Finance awarded as “Real Estate Dr. Amit Goenka being conferred with a 𝐏𝐡𝐃 Investment Company of the Year” at Gulf (𝐃𝐨𝐜𝐭𝐨𝐫𝐚𝐥 𝐃𝐞𝐠𝐫𝐞𝐞) 𝐢𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 from Business Awards Ecole Superieure Robert De Sorbon Dr. Amit Goenka featured in Dr. Amit Goenka Invited as…
Slide 63: Group Structure
Group Structure 1 India Operations Holding Company Dalmia Nisus Nisus Finance Microsafe Finance Nisus Fincorp Nisus BCD Nisus Finance Microspace & Investment Projects LLP Investment Pvt Ltd Advisors LLP Projects LLP Projects LLP Managers LLP Managers LLP Nisus Finance International Advisors IFSC LLP
Slide 64: Experienced Board of Directors
Experienced Board of Directors Mr. Amit Anil Goenka Mr. Sunil Agarwal Founder, Chairman and Managing Independent Director Director of NiFCO - Civil engineer, ex-SARE CEO, Black - Led transactions of ~$2.5Bn Olive founder, valuation expert, - Managed multiple AIF, faculty at Institution of Valuers -
Slide 65: Executive Leadership
Executive Leadership Mr. Amit Jhunjhunwala Mr. Avadhoot Sarwate CIO, UAE CIO, India Qualified CA with 18 years’ experience in UAE real CA, CFA & MBA; leads investment strategy, estate and funding, Amit combines investment monitoring and exits. Prior experience includes expertise, asset management, a
Slide 66: Thank You
Thank You Nisus Finance Services Co Limited 5th Floor, A Wing, Poonam Chambers, 502-A/2, Dr Annie Besant Rd, Markandeshwar Nagar, Shiv Sagar Estate, Worli, Mumbai, Maharashtra 400018 E-mail: info@nisusfin.com Phone: +91-22-6164 8888 https://nisusfin.com Website: https://nisusfin.com 15 IR Contact: i
Nisus Finance Services — Q4 FY2026 Earnings Presentation on 6ix