Nisus Finance Services Co. Ltd. · BSE:NISUS
Nisus Finance Services — Q3 & 9M FY2026 Earnings Presentation
53 slides from Nisus Finance Services's earnings presentation, Feb 18, 2026
Slide 1: Nisus Finance Services Co Limited Corporate Presentation Q3 & 9M FY2026
Nisus Finance Services Co Limited Corporate Presentation Q3 & 9M FY2026
Slide 2: 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 3: Agenda
02. About the 01. Q3 and Company 9M FY26 & Highlights Key Growth Drivers AGENDA 03. 04. 9M FY26 Financial Annexures Highlights
Slide 4: Strategic Investment and Portfolio Update
Strategic Investment and Portfolio Update Q3 FY 26 Strategic updates 4
Slide 5: Milestones in Global Real Estate & Infrastructure
Nisus Finance : Milestones in Global Real Estate & Infrastructure Record UAE Investment in Residential acquisition in NCCCL has secured a new hotel NCCCL secures repeat ₹112.5 Cr Lootah Avenue (Residential) Majan along Sheikh construction order from Lodha mandate for Mandwa, Mohammed Bin Zayed Road
Slide 6: Q3 & 9MFY26 Highlights
Q3 & 9MFY26- Highlights Strong performance NCCCL Acquisition- The Capital Strength People and Recognition across regions value unlocker • ESOP program to be launched • Nisus is India’s first AIF business Nisus Excluding NCCCL • 100% fund-backed or AAA- to reward high performers and to receive a BBB+
Slide 7: Financial Performance
Financial Performance Quarterly Performance* 9M Performance* FY 25 Q3 FY26 Key Financial Metrics 9M FY26 Key Financial Metrics Key Financial Metrics 38.7 Cr. 114 Cr. 67.3 Cr Total Revenue Total Revenue Total Revenue 28.6 Cr. 84.23 Cr. 44.8 Cr. EBITDA EBITDA EBITDA 73.9 % 74.12 % 66.1 % EBITDA Margin
Slide 8: Financial Highlights
Financial Highlights Total Income (in Rs. Cr) EBITDA (in Rs. Cr) 46.2 33.9 38.7 28.6 28.7 21.7 Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 Revenue EBITDA Profitability Margins Trend PAT (in Rs. Cr) 76% 76% 73% 20.1 19.6 59% 53% 43% 16.8 Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 EBITDA % PA
Slide 9: Industry Outlook: 2025 vs 2026
Industry Outlook: 2025 vs 2026 Growth Trajectory & Strategic Positioning 9
Slide 10: 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 11: 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 by 28% Yo
Slide 12: Mumbai Redevelopment & Dubai Tokenization
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 ₹
Slide 13: Nisus Competitive Moats: Why We Win in 2026
Nisus Competitive Moats : Why We Win in 2026 Only listed AIF platform with integrated construction execution and BBB+ rating 2025 Proving the Model FY25 FINANCIAL HIGHLIGHTS (Consolidated without NCCCL) Total Revenue PAT AUM NCCCL Added ₹67.3 Cr ₹32.6 Cr ₹1,572 Cr Aug 2025 H1 FY26: ₹74.9 Cr annualiz
Slide 14: 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 15: About the Company
About the Company
Slide 16: Company at a Glance
Company at a Glance Nisus Finance — Leading Urban Infrastructure Financing & Asset Management Platform Overview Exponential Growth in 3 years Nisus Revenue(without NCCCL) (FY25 & 9M 26) 01 Incorporated 2013 2022 2025 Total Revenue Trend CAGR Average IRR (Exited Funds): ~20% Revenue ₹ 7 Cr ₹ 67 Cr 02
Slide 17: 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, p
Slide 18: India Expansion
India Expansion: Consolidating Leadership in Urban Infrastructure Capital Institutionalizing India’s Urban Growth — From Structured Credit to Smart Redevelopment. Strategic Overview Ecosystem Expansion • India remains the significant market, contributing ~50% of Income and driving consistent • 600 +
Slide 19: 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’ Fund Investments: • In 2023–2024, Nisus became among the first Property Location Units Deal Value Status Rental Advantage
Slide 20: Growth Outlook – FY26 and Beyond
Growth Outlook – FY 26 and Beyond Metric FY 25 FY 26 Outlook Long-Term Vision AUM ₹ 1,572 Cr ₹ 4,000 Cr $ 1 Bn (~₹ 8,000 Cr) by 2028 Total Income ₹ 67 Cr ₹ 120–140 Cr Sustained blended growth Revenue / AUM Ratio 4.3% 3–3.5 % (blended) Maintain 3–3.5% PAT Margins 48% Maintain / Improve Fee-and-carry
Slide 21: Key Growth Drivers
Key Growth Drivers
Slide 22: 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 23: 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 24: Nisus Strategic Fit: Leading 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 25: 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 structural
Slide 26: From 2015 to 2025
3. From 2015 to 2025 A Decade of Full-Cycle Execution with 20%+ Average IRR Capital Fund / Strategy / Launch Status Deployed Deals IRR (%) Key Highlight Project Structure Year (₹ Cr) Real Estate First fund – 11 Asset Opportunistic debt, Fully 2015 300 11 21.3 % successful exits; o All funds fully ex
Slide 27: Specialised Real-Asset Platforms
4. Specialised Real-Asset Platforms- Unlocking Alpha Without Incremental Risk A differentiated suite of platforms designed to compound investor wealth through focused strategies across the real-asset spectrum Building a Portfolio of High-Conviction, Specialised Real-Asset Funds RESO – Real Estate Sp
Slide 28: GIFT City Gateway to Global Capital
5. 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 29: Tokenization & Web3 Innovation
6. 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 (~₹4,100 Cr) in real
Slide 30: Pipeline of Opportunities – India and UAE
7. Pipeline of Opportunities – India and UAE Deal Pipeline Overview India Pipeline UAE / Dubai Pipeline ₹ 1000 Cr + AED 1.5 Bn+ (≈ ₹ 3600 Cr+) Future Growth Pipeline • Active evaluations across Mumbai, Pune, Advanced-Stage Pipeline: AED 1.5 • Focus on residential and Bn+ (~3600+ Cr) across: Bengalur
Slide 31: Nisus Finance Acquisition of NCCCL
8. 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: ₹2135+ Cr across 30+ major projects in Mumbai, Bangalore, Scale & Execution Hyderab
Slide 32: 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 Rs.70 Cr and CCPS • Turnaround potential: infusion of Rs.11.72 Cr NCCCL’s growth is fully Geographic spread: ₹ 2135Cr Top-tier devel
Slide 33: NCCCL's Current Order Book - Key Highlights
NCCCL’s Curent Order Book - Key Highlights Total Work Value: Ongoing Projects (Rs 4000 Cr) Balance Work Value - as on 31st Dec2025 (Rs 2135Cr) 7.5% 9.0% 9.4% 5.0% 3.0% 2.3% 80.9% 84.0% MAHARASHTRA GUJARAT KARNATAKA HYDERABAD MAHARASHTRA GUJARAT KARNATAKA Telangana PAN India Projects- Construction Ar
Slide 34: 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 34
Slide 35: 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 36: Crafting India's Landmarks Since 1946
Crafting India’s Landmarks Since 1946 Corporate Presentation 36
Slide 37: Crafting India's Landmarks Since 1946
Crafting India’s Landmarks Since 1946 Corporate Presentation 37
Slide 38: Crafting India's Landmarks Since 1946
Crafting India’s Landmarks Since 1946 Corporate Presentation 38
Slide 39: Growth Outlook NCCCL – FY26 and Beyond
Growth Outlook NCCCL– FY 26 and Beyond Metric FY 25 FY 26 Outlook Long-Term Vision (FY 30) Order Book ₹ 2356 Cr ~₹ 3000 Cr ~5000 Cr Total Income ₹ 608Cr ~₹ 650 Cr ~₹2000 Cr + EBITDA Margins 8.60% 9% 10% Order Book & Financial Summary Capital Strength & Global Credibility Less: Revenue 4,995 Closing
Slide 40: Strategic Rationale
Strategic Rationale: Why This Acquisition Makes Perfect Sense for Nisus From ₹67 Cr to ₹700 Cr — Building a On-Ground Data → Superior Deal Selection. Balanced Earnings Engine. 01 NCCCL’s on-site presence gives visibility into developer 01 FY25 Revenue: Nisus ₹67.3 Cr + NCCCL ₹608 health, project via
Slide 41: 9M FY26 Financial Highlights
9M FY 26 Financial Highlights
Slide 42: Profit & Loss Statement (Consolidated w/o NCCCL) Q3 & 9MFY26
Profit & Loss Statement (Consolidated w/o NCCCL) Q3 &9MFY26 Particulars Q3 FY26 9M FY26 FY 25 Revenue 38.11 111.48 65.61 Other Income .64 2.16 1.68 Total Income 38.76 113.64 67.30 Employee Benefits Expense 4.04 14.69 10.56 Finance Costs 2.86 5.10 1.06 Depreciation & Amortisation Expense 1.92 4.90 2.
Slide 43: Profit & Loss Statement (Consolidated with NCCCL) 9M FY26
Profit & Loss Statement (Consolidated with NCCCL) 9M FY26 Particulars (in INR cr) Q3 26 9M 26 Revenue 224.88 365.27 Other Income 4.16 6.07 Total Income 229.05 371.35 Cost of Material Consumed 52.68 77.38 Construction Cost 101.11 130.12 Employee Benefits Expense 17.24 33.25 Finance Costs 11.56 16.52
Slide 44: Financial Highlights - NISUS Ratios
Financial Highlights - NISUS Ratios Financial Ratios with NCCCL (9MFY26) Financial Ratios w/o NCCCL (9MFY26) Net Profit Ratio (PAT Margin) 15.87% Net Profit Ratio (PAT Margin) 50.87% Operating Profit Ratio (EBIT Margin) 27% Operating Profit Ratio (EBIT Margin) 71% Debt Equity Ratio 0.76 Debt Equity
Slide 45: Annexures
Annexures
Slide 46: Funds Under NiFCO
Funds Under NiFCO Regulatory Fund Name Theme/Focus Strategic Positioning Sectors/Geographies Structure • Senior secured lending to late-stage residential & • Mid-income housing Real Estate Performing commercial projects. Credit • Mixed-use Credit SEBI Category • De-risked credit with strong security
Slide 47: Strategic Differentiators
Strategic Differentiators Early mover in urban infra + cross-border DIFC licensing positions NiFCO as India’s real-asset vertical with proven credit first fund house with an integrated GCC performance platform Fee-and-carry structure enhances RoE; no Demonstrated governance (CareEdge A-rating depend
Slide 48: Utilization of IPO proceeds
Utilization of IPO proceeds Amount Proposed to be Amount Utilized at the end of Amount Outstanding at the end Item Head Utilized the quarter of the Quarter Augmenting fund setup, additional licenses, management services and fund management 12.46 11.83 0.63 infrastructure in IFSC-Gift City (Gandhinag
Slide 49: 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 50: 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 51: Group Structure
Group Structure Holding Company Associates Subsidiaries 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 NCCCL Adviso
Slide 52: 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 53: 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 — Q3 & 9M FY2026 Earnings Presentation on 6ix