On 6 Nov 2026, Nirlon was priced at ₹635.00, or 20.4× trailing earnings, against an industry P/E of 21.3×. Its ROCE of 23% is the highest among the 7 largest Real Estate Services peers, and sales and net profit grew 5.4% and 30% a year over 3 years. Its dividend yield is 4.7%, and debt is 2.42× equity. It is a small-cap company with a market cap of ₹5,722 Cr, ranked 4th of 64 Real Estate Services companies by market cap; the shares rose 16% over the past year.
- ₹638.65
- ₹639.55
- ₹635.00
- ₹638.65
- 812
Health check
- ReturnsAhead
+16.4% over a year, better than 5 of 7 peers.
- Price tagIn line
P/E 20.4 vs industry 21.3.
- GrowthSlow
Sales +5.4%, profit +29.9% a year over 3 years.
- ProfitabilityStrong
ROCE 23.3% vs peer median 7.4%.
- Balance sheetStretched
Debt 2.42× equity, interest covered 4.5×, Piotroski 7 of 9.
- Red flags2 to check
Debt is 2.42× equity.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹5,722 Cr
- Small cap
- P/E
- 20.4
- Industry 21.3
- Price to book
- 12.05
- Peers 2.81
- Dividend yield
- 4.72%
- ROE
- 59.9%
- Peers 4.3%
- ROCE
- 23.3%
- Peers 7.4%
- Debt to equity
- 2.42
- Debt ₹1,147 Cr
- EPS (TTM)
- ₹31.20
- Face value ₹10
- OPM (TTM)
- 77.4%
- Net margin 41.5%
- Sales growth
- +2.3%
- Latest quarter vs a year ago
- Profit growth
- −51.3%
- Latest quarter vs a year ago
- Price to sales
- 8.44
- EV/EBITDA 12.4
Strengths and risks
Strengths
- Return on equity of 59.9%.
- Return on capital employed of 23.3%.
- Dividend yield of 4.72%.
- Net margin of 41.5%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Debt is 2.42× equity.
- Quarterly profit down 51.3% on a year ago.
About Nirlon
Nirlon Limited engages in the development and management of an industrial/information technology park. The company's primary business activity is the development, management, and operation of Nirlon Knowledge Park (NKP), an approximately 23-acre campus located in Goregaon (East), Mumbai. The company was incorporated in 1958 and is based in Mumbai, India. Nirlon Limited operates as a subsidiary of Reco Berry Private Limited.
- Headquarters
- Mumbai
- Employees
- 3
- Sector
- Real Estate
- ISIN
- INE910A01012
- Website
- nirlonltd.com
Price range
- Avg volume (3M)
- 8K
- 1-year return
- plus 16.4%
- From 52-week high
- minus 4.1%
Peers · Real Estate Services
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABRELAditya Birla Real Estate | 1,068.40 | minus 1.99% | 11,853 | – | – | −5.2% | −3.6% | 0.79 | −52.6% | minus 41.3% |
| WEWORKWeWork India Management | 681.65 | plus 1.04% | 9,466 | 95.7 | 9.4 | 12.3% | 64.2% | 16.44 | – | plus 6.7% |
| SMARTWORKSSmartworks Coworking Spaces | 515.85 | plus 4.91% | 5,900 | 52.4 | 9.2 | 7.4% | 65.3% | 10.29 | 36.2% | minus 18.9% |
| NIRLONNirlon | 635.00 | minus 0.57% | 5,722 | 20.4 | 12.6 | 23.3% | 77.4% | 2.42 | 5.4% | plus 16.4% |
| INDIQUBEIndiqube Spaces | 184.32 | plus 2.39% | 3,908 | – | 9.9 | 5.5% | 60.8% | 10.12 | 35.8% | minus 15.3% |
| ELPROINTLElpro International | 169.55 | plus 0.26% | 2,874 | 22.3 | 50.5 | 7.6% | 36.2% | 0.60 | 58.2% | plus 60.9% |
| EFCILEFC (I) | 165.12 | plus 0.22% | 2,443 | 8.3 | 8.1 | 16.0% | 44.5% | 1.73 | 115.7% | minus 43.6% |
| AURUMAurum PropTech | 210.15 | minus 2.83% | 2,029 | 58.4 | 23.1 | 1.8% | 25.5% | 0.21 | 44.3% | plus 25.8% |
| Median of 7 peers | – | 0.26% | 3,908 | 52.4 | 9.6 | 7.4% | 44.5% | 1.73 | 40.2% | −15.3% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 165 | 170 | 171 | 168 | 169 | |
| 35.9 | 38.2 | 38.6 | 39.1 | 37.6 | |
| 129 | 132 | 132 | 129 | 131 | |
| 78.3% | 77.5% | 77.4% | 76.8% | 77.8% | |
| 3.5 | 3.2 | 3.4 | 4.4 | 5.1 | |
| 26.1 | 27.9 | 26 | 26.3 | 26.5 | |
| 13.8 | 13.8 | 14.2 | 14 | 13.9 | |
| 93 | 93.2 | 95.5 | 93.3 | 96.1 | |
| −58.7% | 25.6% | 26.1% | 25.6% | 25.2% | |
| 148 | 69.3 | 70.6 | 69.4 | 71.9 | |
| 16.39 | 7.69 | 7.83 | 7.70 | 7.98 |
Profit & loss
- Sales CAGR 3Y
- +5.4%
- Profit CAGR 3Y
- +29.9%
- EPS CAGR 3Y
- +29.9%
- ROE
- 59.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 567 | 597 | 632 | 664 | |
| – | +5.3% | +5.8% | +5.0% | |
| 109 | 120 | 128 | 142 | |
| 458 | 477 | 504 | 522 | |
| 80.8% | 79.9% | 79.8% | 78.6% | |
| −22.8 | 3.6 | 7.9 | 13 | |
| 100 | 123 | 116 | 107 | |
| 103 | 56.4 | 56.3 | 55.6 | |
| −0.2 | – | −0.8 | −0 | |
| 233 | 302 | 338 | 372 | |
| 32.1% | 31.8% | 35.5% | 7.0% | |
| 158 | 206 | 218 | 346 | |
| – | +30.2% | +6.1% | +58.6% | |
| 17.52 | 22.81 | 24.21 | 38.39 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 90.1 | 90.1 | 90.1 | 90.1 | |
| 312 | 283 | 267 | 378 | |
| 1,145 | 1,146 | 1,146 | 1,147 | |
| 554 | 607 | 740 | 634 | |
| 2,101 | 2,126 | 2,243 | 2,250 | |
| 6.5 | 3 | 9.4 | 7.8 | |
| 6 | 2.6 | 9 | 7.4 | |
| 9.7 | 9.6 | 9.6 | 8.1 | |
| 17.3 | 53.9 | 174 | 285 | |
| 2,062 | 2,057 | 2,041 | 1,941 | |
| 2,101 | 2,126 | 2,243 | 2,250 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 377 | 425 | 480 | 477 | |
| −90.5 | −50.7 | −38.1 | −309 | |
| −365 | −337 | −332 | −322 | |
| −79 | 36.7 | 110 | −154 | |
| −85.1 | −55 | −47.2 | −43.5 | |
| 292 | 370 | 433 | 434 | |
| −234 | −234 | −234 | −234 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.