Nisus Finance Services Co. Ltd. · BSE:NISUS
Nisus Finance Services — Q3 FY2026 Earnings Presentation
54 slides from Nisus Finance Services's earnings presentation, Feb 13, 2026
Slide 1: Intimation of Schedule of Investors Meeting
Date: January 13, 2026 To, Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400001 Scrip Code: 544296 ISIN: INE0DQN01013 Sub: Intimation of Schedule of Investors Meeting under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Slide 2: Corporate Presentation Q3 & 9M FY2026
‘NiFCO NISUS FINANCE Nisus Finance Services Co Limited Corporate Presentation Q3 & 9M FY2026
Slide 3: Disclaimer
® Disclaimer ad Nu FINANCE 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 f
Slide 4: Agenda
02. y/ About the Company & 01. Q3 and 9M FY26 Highlights Key Growth Drivers ii Ard NiECO AGENDA 03. 04. 9M FY26 Financial Highlights Annexures
Slide 5: Strategic Investment and Portfolio Update
Strategic Investment and Portfolio Update
Slide 6: Nisus Finance: Milestones in Global Real Estate & Infrastructure
Nisus Finance : Milestones in Global Real Estate & Infrastructure Record UAE Investment in Lootah Avenue (Residential) Rs 536 Cr (USD 59.8M) Investment : Acquisition and refurbishment of the 273-unit Lootah Avenue in Dubai Motor City. Strategic Asset : Freehold residential and retail property in a h
Slide 7: Q3 & 9M FY26 Highlights
Q3 & IMFY26- Highl ! Strong performance 1 across regions ! Nisus Excluding NCCCL * Revenue: 111.48 Cr ; * % EBITDA: 74.1% i + % PAT : 50.8% i | Nisus with NCCCL* * Revenue: 365.27 Cr + % EBITDA: 29.53% 1° %PAT: 16% ights & g NCCCL Acquisition- The value unlocker 100% fund-backed or AAA-rated develop
Slide 8: Financial Performance
1 Financial Performance Quarterly Performance* Q3 FY26 Key Financial Metrics 38.7 Cr. Total Revenue 28.6 Cr. 73.9 % 53% * These Numbers are excluding NCCCL. 9M Performance* 9M FY26 Key Financial Metrics 114 Cr. Total Revenue 84.23 Cr. 74.12 % EBITDA Margin 51% Corporate Presentation FY 25 Key Financ
Slide 9: Financial Highlights
Financial Highlights Total Income (in Rs. Cr) ad’ EBITDA (in Rs. Cr) NiFCO NISUS FINANCE 46,2 33,9 38,7 28,6 : a : Qi 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 @ Revenue MEBITDA Profitability Margins Trend PAT (in Rs. Cr) 76% 76% —F3% 1 20,1 5! 9,6 eta 16,8 Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026
Slide 10: Industry Outlook: 2025 vs 2026
Industry Outlook: 2025 vs 2026 Growth Trajectory & Strategic Positioning
Slide 11: Private Credit: Filling the White Space in Real Asset Financing
Private Credit : Filling the 'White Space’ in Real Asset Financing AT NiF 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 private credit deals in India during the 2024—25 cycle Ba
Slide 12: 2025 vs 2026: The Inflection Point
2025 vs 2026 : The Inflection Point From Refinancing to Growth Capital 2025 : The Year of the "Safety Net" Year of Selective Deployment. Overall private capital investments in Indian real estate moderated in 2025 Total Private Credit H1 USD 9.0B 2025 +53% YoY Residential Market 2025 * Record launche
Slide 13: Mumbai Redevelopment & Dubai Tokenization
Unlocking the Next Real Estate Supercycle: Mumbai Redevelopment & Dubai Tokenization AT NiFCO Land Unlocked Key Locations 326+ acres Borivali, Andheri Mumbai metro region Western suburbs leading wave Capital Requirement Project Pipeline 21.3 Lakh+ Cr 200+ societies Total addressable market Various s
Slide 14: Nisus Competitive Moats: Why We Win in 2026
Nisus Competitive Moats : Why We Win in 2026 AT NiF Only listed AIF platform with integrated construction execution and BBB+ rating Total Revenue PAT AUM NCCCL Added Aug 2025 281.72 Cr investment 267.3 Cr 232.6 Cr 21,572 Cr H1 FY26: 274.9 Cr annualized PAT Margin: 48.5% Excl. NCCCL: 1,906 Cr Revenue
Slide 15: Infrastructure: NCCCL Execution Edge
Infrastructure : NCCCL Execution Edge AT NiF Construction Industry USD 128 B USD 133 B USD 2.13 Tr 2024-2030 ; 12.1% CAGR FY 9.49% CAGR Baseline +8.8% YoY 2025-2030 NIP/Gati Shakti COMPETITIVE ADVANTAGES FINANCIAL PROFILE & TARGETS © Formwork Technology Order Book (Dec2025): 2135 Cr 35-40% faster cy
Slide 16: About the Company
About the Com near" |
Slide 17: Company at a Glance
® . 1 Company at a Glance Ad NiECO Nisus Finance — Leading Urban Infrastructure Financing & Asset Management Platform Overview Exponential Growth in 3 years Nisus Revenue(without NCCCL) (FY25 & 9M 26) Incorporated 2013 | 2022 | | 2025. | CAGR Average IRR (Exited Funds): ~20% Revenue > 37Cr vane 267
Slide 18: A Three-Engine Growth Model
A Three-Engine Growth Model bd | Fund Management + Transaction Advisory+ Strategic Investment in Construction company Core Focus Areas Operating Revenue & Revenue Mix * Fund & Asset Management: Manages AIFs focused on real estate credit and special situations. * Transaction Advisory: Structured cred
Slide 19: India Expansion
1 India Expansion: Consolidating Leadership in Urban Infrastructure Capital Institutionalizing India’s Urban Growth — From Structured Credit to Smart Redevelopment. Strategic Overview * India remains the significant market, contributing ~50% of Income and driving consistent high- margin growth. + Th
Slide 20: UAE Expansion
1 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 * In 2023-2024, Nisus became among the first Indian AIF managers to gain regulated approval in the UAE, receiving authorization
Slide 21: Growth Outlook — FY and Beyond
Growth Outlook — FY 26 and Beyond bd NiFCO Metric FY 25 AUM 21,572 Cr Total Income 267 Cr Revenue / AUM Ratio 4.3% PAT Margins 48% FY 26 Outlook Long-Term Vision 4,000 Cr $ 1 Bn (~% 8,000 Cr) by 2028 % 120-140 Cr Sustained blended growth 3-3.5 % (blended) Maintain 3-3.5% Maintain / Improve Fee-and-c
Slide 22: Key Growth Drivers
Key Growth Drivers ) 1
Slide 23: Key Growth Drivers
Key Growth Drivers Specialised Real- Asset Platforms — Compounding Alpha, Preserving Capital Tokenization & Web3 Innovation: The Next Frontier of Real-Estate Investing Robust Pipeline — NCCCL Transitioning to >70% non- residential mix Sectoral Tailwinds & Market Opportunity A Decade of Full- Cycle E
Slide 24: Sector Tailwinds & Market Opportunity
1. Sector Tailwinds & Market Opportunity ad NiFCO India's Real Estate & Infrastructure Boom - Strategic Fit for Nisus Finance-1/2 In $ Billion Real-estate Market Infrastructure Market Construction Market cAGR CAGR — 9.8% 487 — 121% — 231 121 213 FC || —————— 2024 2030 2024 2030 2024 2030 Sector Tail
Slide 25: Nisus Strategic Fit: Leading Urban Infrastructure Finance
® 1 Nisus Strategic Fit: Leading Urban Infrastructure Finance & ad NiFCO 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 hou
Slide 26: India's First Listed AIF Manager
1 2. India’s First Listed AIF Manager Ad NiFCO India’s Only Listed AIF — A Regulatory Moat difficult to replicate.” Regulatory First-Mover Forever Capital Market Flywheel * — Listing unlocks direct access to equity and low- cost debt — fueling AUM compounding without dilution. * Only AIF manager eve
Slide 27: From 2015 to 2025: A Decade of Full-Cycle Execution
3. From 2015 to 2025 A Decade of Full-Cycle Execution with 20%+ Average IRR IRR (%) Capital Fund / Project Strategy / Structure Deployed (% Cr) Real Estate Asset Opportunistic debt, 2015 Fully 300 o All funds fully exited with Performance equity & mezzanine Exited Fund ~20 % average IRR © Zero loss
Slide 28: Specialised Real-Asset Platforms
4. Specialised Real-Asset Platforms- bd NiFCO 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
Slide 29: GIFT City Gateway to Global Capital
1 5. GIFT City Gateway to Global Capital ad 1 India’s Offshore—Onshore Bridge — Unlocking Global Capital Access Through Regulatory Firsts. Early-mover positioning provides direct engagement with regulators, facilitating faster approvals for future fund classes and global listings. ( o1 ) Among the f
Slide 30: Tokenization & Web3 Innovation
6. Tokenization & Web3 Innovation: The Next Frontier of Real- NiFCO Estate Investing Turning Real Assets Into Tradable Digital Securities — Redefining Liquidity, Access & Ownership NISUS FINANCE Strategic Innovation . . Partnering with Toyow (Xchain Technologies FZCO). The deal involves $500 million
Slide 31: Pipeline of Opportunities — India and UAE
1 7. Pipeline of Opportunities — India and UAE ad 1 Deal Pipeline Overview India Pipeline UAE / Dubai Pipeline e——_ % 1000 Cr+ AED 1.5 Bn+ (= X 3600 Cr+) -—__ Future Growth Pipeline * Active evaluations across Mumbai, Pune, z idential and Advanced-Stage Pipeline: AED 1.5 Bn+ Bengaluru, Hyderabad and
Slide 32: Nisus Finance Acquisition of NCCCL
8. Nisus Finance Acquisition of NCCCL: ad NiFCO 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: 32135+ Cr across 30+ major projects in Mumbai, Bangalore, Hyderabad, — S
Slide 33: Deep-Value Acquisition with Diversified Clientele
Deep-Value Acquisition with Diversified Clientele Driving Ard NiECO 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 funded Geographic spread: % 2135
Slide 34: NCCCL's Current Order Book - Key Highlights
NISUS FINANCE 1 NCCCL’s Curent Order Book - Key Highlights bd NiFCO Total Work Value: Ongoing Projects (Rs 4000 Cr) 7,5% 9,4% 2,3% 80,9% Balance Work Value - as on 315t Dec2025 (Rs 2135Cr) 9,0% 5,0% 3,0% 84,0% m@ MAHARASHTRA GUJARAT KARNATAKA m HYDERABAD lm MAHARASHTRA GUJARAT KARNATAKA mi Telangana
Slide 35: Working with Marquee Names
4 Working with Marquee Names bd | 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 | & Sfipca b NOVARTIS g& a \ 9 om 6 Piramal Reliance Chbila 2 TATA POWER Industries Limited vIDEOCON
Slide 36: Execution Track Record - Winning Repeat Orders
4 Execution Track Record- Winning Repeat Orders Q Reliance Industries Limited RELIANCE INDUSTRIES LTD. Associated Since - 1998 Projects Completed - 5 States Worked - Himanchal Pradesh, Maharashtra, Associated Since -2004 PIRAMAL GROUP * Associated Since - 1998 * Projects Completed - 5 States Worked
Slide 37: Crafting India's Landmarks Since 1946
1 Crafting India’s Landmarks Since 1946 CL J 1 mnt ‘li Name of the Project - Bagmane'lynx a Name of the Project - Bagmane Gold Stone ; Name of the Project— Bagmane RIO./ OHIO we Location - Bangalore X55 = Location -/Bangalore Location - Bangalore y Area — 12,50,000 sq.ft : eee Ar@a—14,00,000 sq.ft A
Slide 38: Crafting India's Landmarks Since 1946
1 Crafting India’s Landmarks Since 1946 7, J blest — ae SREESSRaMaaanaaaad [QQRESEEGE i | Name of the Project - Prestige Trade Tower Name of the Project - Prestige Tech Clow Name of the Project — Prestige Tranquility DEE ec aciare, en Location - Bangalore " ) Location - Bangalore Area. — 6,23,000 sq
Slide 39: Crafting India's Landmarks Since 1946
1 Crafting India’s Landmarks Since 1946 Ad NiECO Name of the Project - VSNL Tower Has ) A tay Asian Paints HQ Name of the Project - L&T Realty Rejuve 360 ns Name of the Project - One West by Terminus Location - Mumbai =! Location - Mumbai —— -.' Location - Mumbai U F ] tocation= Hyderabad Corporate
Slide 40: Growth Outlook NCCCL — FY and Beyond
1 Growth Outlook NCCCL— FY 26 and Beyond Ad NiFCO FY 26 Outlook Term Vision (FY 30) Order Book % 2356 Cr ~% 3000 Cr ~5000 Cr Total Income % 608Cr ~% 650 Cr ~R2000 Cr + EBITDA Margins 8.60% 9% 10% Order Book & Financial Summary Capital Strength & Global Credibility @ Less: Revenue wo & * Turnaround P
Slide 41: Strategic Rationale
Strategic Rationale: Why This Acquisition Makes Perfect Sense for Nisus From 67 Cr to 3700 Cr — Building a Balanced Earnings Engine. FY25 Revenue: Nisus %67.3 Cr + NCCCL %608 Cr = 675 Cr combined platform. 10x revenue scale-up; revenue now evenly split between recurring (management fees) and executi
Slide 42: 9M FY Financial Highlights
9M FY 26 Financial Highlights oo ‘ a) aaa
Slide 43: Profit & Loss Statement (Consolidated w/o NCCCL)
® s Profit & Loss Statement (Consolidated w/o NCCCL) Q3 &9MFY26 ad NiFCO 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
Slide 44: Profit & Loss Statement (Consolidated with NCCCL)
® . Profit & Loss Statement (Consolidated with NCCCL) 9M FY26 ad NiFCO 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
Slide 45: Financial Highlights - NISUS Ratios
1 Financial Highlights - NISUS Ratios bd NiECO 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 D
Slide 46: Annexures
Slide 47: Funds Under NiFCO
1 Funds Under NiFCO Fund Name Regulatory Structure Theme/Focus Strategic Positioning Sectors/Geographies Real Estate Credit Opportunities Fund SEBI Category II AIF (India) Performing Credit ¢ Collateral-backed Lending Senior secured lending to late-stage residential & commercial projects. De-risked
Slide 48: Strategic Differentiators
1 Strategic Differentiators XR Xs x Early mover in urban infra + cross-border real- asset vertical with proven credit performance Fee-and-carry structure enhances RoE; no dependency on high-risk lending Low customer concentration; long-term relationships with top-tier developers Positive regulatory
Slide 49: Utilization of IPO proceeds
1 Utilization of IPO proceeds Item Head Utilized Augmenting fund setup, additional licenses, management services and fund management infrastructure in 12.46 IFSC-Gift City (Gandhinagar), DIFC-Dubai (UAE) and FSC-Mauritius. Fund raising cost, distribution and placement fee to third party distributors
Slide 50: Journey of Transformation
Journey of Transformation bd NiECO From Domestic Specialist to Cross-Border Certified “Great See ea with Urban Infrastructure Leader 2025 Place to 8+ investment Present Work®” A professionals A Decade of Strategic Transformation Nisus Finance Services Co.Ltd. (NiFCO) has PEERS Launched closed-ended
Slide 51: NiFCO's Accolades — A Testament To Excellence
1 NiFCO’s Accolades — A Testament To Excellence ad NiFCO Ul A) 6 XN 6 N 6 LY 6 A) 4 a o Ss o a 4 a oe a LA RY ve LY ve AY ve AY LYA RY x4 2015 4 x4 2017 ‘y4 x4 2018 y4 XY 2021 4 x4 2022 4 = Ve ¢ ) bt] ) bd ] Ve ¢ Ve ely she why se why se ely se why shoe of of of of ow Honored by NAREDCO for Recogniz
Slide 52: Group Structure
Group Structure Holding Company Associates >—'— Dalmia Nisus Microsafe Finance Investment Projects LLP Managers LLP Subsidiaries Nisus Finance & Investment Managers LLP Nisus Fincorp Pvt Ltd Nisus Finance International Advisors IFSC LLP NIFCO Nisus Finance Management Investment Consultancies LLC Con
Slide 53: Experienced Board of Directors
1 Experienced Board of Directors Mr. Amit Anil Goenka Founder, Chairman and Managing Director of NiFCO - Led transactions of ~$2.5Bn - Managed multiple AIF, - PMS & FDI funds for Indian Real Estate Mrs. Mridula Amit Goenka Executive Director - Qualified CA & B. Com. - With experience across finance
Slide 54: Thank You
Thank You ® NiFCO NISUS FINANCE Nisus Finance Services Co Limited 5th Floor, A Wing, Poonam Chambers, 502-A/2, | Annie Besant Rd, Markandeshwar Nagar, Shiv Sag Estate, Worli, Mumbai, Maharashtra 400018 E-mail: info@nisusfin.com Phone: +91-22-6164 8888 Website: https://nisusfin.com 15 IR Contact: inv
Nisus Finance Services — Q3 FY2026 Earnings Presentation on 6ix