Financial Performance Highlights

Q2 FY27 - Nisus Core Business (excluding NCCCL):

  • Total Income: ₹37.3 Cr, up 35% from ₹27.6 Cr in Q1 FY27
  • EBITDA: ₹24.5 Cr at 65.6% margin, compared to ₹17.0 Cr in Q1 FY27
  • PAT: ₹16.4 Cr, up 62% from ₹10.1 Cr in Q1 FY27
  • PAT Margin: 43.9%, improved 730 bps from 36.6% in Q1 FY27

H1 FY27 - Nisus Core Business (excluding NCCCL):

  • Total Income: ₹64.8 Cr
  • EBITDA: ₹41.4 Cr at 63.9% margin
  • PAT: ₹26.4 Cr at 40.8% margin
  • On adjusted basis excluding one-time gains, core income grew approximately 8% YoY

Consolidated Performance (including NCCCL):

  • Total Income: ₹399 Cr for H1 FY27
  • EBITDA: ₹74 Cr at 18.7% margin
  • PAT: ₹33.3 Cr at 8.3% margin

Capital Deployment and AUM

  • Deployed ₹673 crore across five investments in H1 FY27
  • ₹330 crore in four senior secured debt investments across Bengaluru, Pune, Mumbai and MMR region
  • AED 137 million (approximately ₹343 crore) in ready, income-generating residential buildings in Jumeirah Garden City, Dubai
  • Core AUM reached ₹3,304 crore, with 56% in UAE and 44% in India

Business Segment Performance

  • Investment Banking Services contributed 68% of H1 performance
  • Fund and Asset Management Businesses contributed 32% of H1 performance
  • NCCCL (construction subsidiary) reported:
  • Revenue: ₹336 Cr, up 12.3% YoY
  • EBITDA margin: 10.3%, expanded 141 bps
  • PAT: ₹7.7 Cr, increased nearly four-fold
  • New orders: ₹1,270+ Cr in H1
  • Order book: exceeding ₹2,760 Cr

Credit Ratings and Regulatory Approvals

  • Maintained credit rating of BBB+
  • Ni-YAM received SEBI approval and AIF-1 (Excellent) rating from CareEdge

Management Commentary

Dr. Amit Goenka, Founder, Chairman & MD, stated: "We have built strong momentum for FY26-27 with a significant Q2 performance. After two softer quarters, income recovered in the UAE and momentum continued in India. We remained active through the cycle, deploying ₹673 crore across five opportunities in H1."

Future Outlook and Guidance

  • Target AUM: ₹4,000-5,000 crore by March 2027
  • Target Core Revenue: ₹130-150 crore by March 2027
  • Expected H2 FY27 support from stronger deployment pipeline, improving UAE contribution, continued investment banking services, and newer platforms ramp-up
  • Focus on expanding recurring and fee-based income across real estate, private credit and urban infrastructure

Balance Sheet Position (Nisus Core Business)

  • Net Worth: ₹262 Cr
  • Borrowing: ₹81 Cr (D/E: 0.31x)
  • Interest Coverage Ratio: 8.7
  • ROCE: 22.35%
  • ROE: 20.36%
  • Promoter Pledge: 22.4% of shares

UAE Business Developments

  • Team expanded to 19 members with new office expansion
  • Senior leadership additions: Marwan Al Sarkal (Vice Chairman), Oliver Castelino (Business Development), Namrata Chauhan (Head, Finance & Operations)
  • Additional funding line secured from Dubai Islamic Bank
  • Added two assets to the fund during the period

New Business Initiatives

  • Ni-YAM (Nisus Yield and Asset Multiplier): ₹2,500 Cr target size, AIF-1 (Excellent) rated by CareEdge
  • SM REIT Platform: ₹2,000 Cr target size, registration in process
  • Asset Tokenization: USD 50m first tranche of NIFCOT1 tokens partnership with Toyow Marketplace
  • UAE Private Credit Platform: USD 500 Mn target size, fund structuring underway

Corporate Structure

Nisus Finance operates through four distinct capabilities:

1. Fund & Asset Management - raises and manages institutional capital

2. Investment Banking Services - originates and closes complex deals

3. NBFC - deploys firm capital into own funds

4. Construction and EPC - executes on the ground through NCCCL

The company has regulated vehicles across India, GIFT City and UAE (DIFC).