NESCO Ltd(NESCO)

NSE: NESCOBSE: 505355

₹ 953-3.09%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 6,715 crWebsite: www.nesco.inUpdated: 24 Oct 2026

About

NESCO Ltd, incorporated in 1946 and listed on BSE and NSE, operates four business verticals from its Nesco Center campus in Goregaon, Mumbai: IT Park leasing, the Bombay Exhibition Center, hospitality under Nesco Foods, and surface-preparation engineering under Indabrator. In FY26 the company crossed ₹1,000 cr in total income for the first time, reporting ₹1,031 cr, with a PAT of ₹412 cr. BEC is the largest privately owned exhibition venue in India, and both IT Park towers are fully leased to 26 MNC clients.^[1][2][3]

Business segments

Realty (IT Park leasing): ₹397.92 cr revenue, 38.6% of total, EBIT margin 83.4% in FY26.^[4]
Bombay Exhibition Center: ₹259.82 cr revenue, 25.2% of total, EBIT margin 51.2% in FY26.^[4]
Foods (Nesco Foods hospitality): ₹238.51 cr revenue, 23.1% of total, EBIT margin 10.8% in FY26.^[4]
Indabrator (engineering): ₹35.81 cr revenue, 3.5% of total, EBIT margin 7.4% in FY26; its revenue share declined 1.4 pp over FY20 - FY26.^[4]

Operations and capacity

IT Park Towers 3 and 4 offer 17.70 lakh sq ft of chargeable area (Tower 3: 62,150 sq mtr; Tower 4: 103,380 sq mtr) at 100% occupancy as of FY26.^[1][5]
BEC operates 6 fully air-conditioned halls totalling 70,000 sq mtr, the largest privately owned exhibition venue in India.^[2]
Indabrator manufactures shot blasting machines, peening systems, painting lines, spares, and abrasives from 1.4 lakh sq ft of manufacturing space across Vishnoli and Karamsad, Gujarat.^[2]
Nesco Foods runs 12 restaurants, 3 food courts, and indoor/outdoor catering as of FY26; the Grande Banquet Hall (2,108 sq mtr, 1,200+ guests) hosted 150+ weddings and 150+ corporate events in FY25.^[1][2]

Key operating numbers

IT Park weighted average rent: ₹180 psf/pm blended (Tower 3: ₹184 psf/pm; Tower 4: ₹178 psf/pm) in FY26, up from Tower 3 ₹179 and Tower 4 ₹173 in FY25.^[1][5]
BEC hosted 135 exhibitions and events in FY26; utilisation was 53% of available days at an average realisation of ₹242 psm/pd.^[1]
BEC revenue grew 30% YoY to ₹260 cr in FY26, after growing to ₹174 cr in FY25 (+55.7% Nesco Events YoY).^[1][5]
Nesco Foods revenue grew 107% YoY to ₹238 cr in FY26; Q1 FY27 Foods revenue was ₹57 cr (+21% vs prior corresponding period).^[1]
Indabrator has over 2,500 installations across railways, defence, steel, auto ancillary and heavy engineering sectors.^[2]

Customers and distribution

IT Park houses 26 MNC clients (13 in Tower 3, 13 in Tower 4) with 25,000+ employees; named tenants include MSCI, HSBC, KPMG, and BlackRock.^[1][5]
Indabrator's clients include ISRO, Integral Coach Factory, Rail Coach Factory, SAIL, Tata Steel, JSW, NALCO, and Benteler Automotive India.^[2]
Exports represent 0.08% of total turnover, all from Indabrator, serving customers in UAE, Bangladesh, South Africa, Oman, and Sri Lanka.^[2]
Nesco Foods partners with 50+ brands alongside 8 in-house brands; Nesco Events operated across 14+ cities, 9 states and 25+ venues in FY25.^[2][5]

Expansion and capex

Tower 2 (IT Park): 6-acre site cleared to ground zero; estimated investment ₹3,500 cr, targeting ~2.25 Mn sq ft chargeable area; completion within 60 months of commencement certificate.^[1][6]
Tower 2 will integrate a hotel with 732 premium rooms and suites plus 172 service apartments, opening simultaneously with the office tower.^[6][5]
BEC Hall 1 reconstruction planned within 12 months at a capex of up to ₹200 cr; Halls 2 and 3 are subsequently planned to be fused into one pillar-free hall.^[1]
Wayside Amenities: 4 active sites remain on the Hyderabad-Visakhapatnam Expressway (via wholly owned subsidiary Nesco Retail Pvt Ltd) with estimated total capex of ~₹125 cr; targeted operational by Q4 FY27.^[1][2]
Maharashtra IT/ITeS Policy 2024 incorporated in DCPR unlocks future development FSI of 8,88,829 sq mtr (IT Park 5,63,385 sq mtr + Realty 3,25,444 sq mtr) underpinning the long-term development pipeline.^[5]

Recent developments

September 2026: NHLML imposed a penalty of ₹2,09,72,000 on Nesco for delays in Wayside Amenities project implementation; the company has stated it will make a representation to NHLML.^[7]
Q1 FY27 (June 2026): Several Wayside Amenity sites were surrendered due to villager unrest, infrastructure deficiencies, and regulatory issues, reducing the active pipeline from 9 to 4 sites; surrender costs of ₹1.25 - 1.5 cr were charged to Q1 FY27 P&L.^[1]
September 2025: IOD received from BMC for Tower 2, clearing the key pre-construction regulatory milestone.^[6]
FY26 total income crossed ₹1,000 cr for the first time (₹1,031 cr, +22% YoY), with treasury/liquidity of ₹1,650 cr as of Q1 FY27.^[1]

Market Cap

₹6,715 Cr

High / Low

₹1,434 / 975

Stock P/E

16.7

Price / Book

2.3

Book Value

₹425

EPS

₹58.6

No. of Shares

7.05 Cr

ROCE

17.4%

ROE

14.7%

OPM

52.4%

Debt / Equity

0.00

Sales

₹932 Cr

Net Profit

₹413 Cr

Promoter holding

68.5%

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NESCO Ltd(NESCO)

About

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Operations and capacity

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Expansion and capex

Recent developments

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