| Market Cap | ₹6,985.4 CrSmall Cap |
|---|---|
| P/E TTM | 17.34Sector: 34.43 |
| 1-Yr Return | -27.16%Price Performance |
| Operating Margin | 55.95%Q2 FY27 Results |
Key highlights
- Approval granted by Brihanmumbai Municipal Corporation (BMC) on October 30, 2026
- Certificate covers construction of Tower-2 and Hall-1 at Nesco Center, Goregaon (East)
- The Commencement Certificate (CC) is valid for a one-year period until October 29, 2027
- Milestone follows the Environmental Clearance received from SEIAA Maharashtra in August 2026
- Development aligns with the company's previously approved ₹3,500 crore capital expenditure plan
BMC Greenlights Construction for Tower-2 and Hall-1
Nesco Limited received the official Commencement Certificate (CC) from the Brihanmumbai Municipal Corporation on October 30, 2026. This approval is a primary regulatory requirement before physical construction can begin on Tower-2 and Hall-1 at the Nesco Center in Goregaon (East). The certificate is valid until October 29, 2027, giving the company a clear window to mobilize resources and execute site work.
This follows the earlier Intimation of Disapproval (IOD) received in March 2025 and Environmental Clearance in August 2026, marking a significant transition from the planning phase to the execution phase for the Mumbai-based developer.
A ₹3,500 Crore Integrated Expansion Strategy
- The project includes Tower-2, planned as a major IT Park and integrated hotel facility
- Previous filings indicated Tower-2 is expected to span approximately 5.01 million square feet
- The Board approved a ₹3,500 crore capital expenditure plan for this project in June 2025
- Construction is expected to be funded primarily through internal accruals over a six-year period
- Hall-1 adds to Nesco exhibition segment, which remains a core revenue driver for the company
- Total operating revenue for the quarter ended September 2026 stood at ₹228.44 crore
Profitability Metrics Amidst Capital Deployment
As Nesco enters this heavy construction phase, its financial foundation remains supported by steady earnings, with a net profit of ₹105.21 crore reported for the quarter ended September 30, 2026. While year-on-year profit saw an 11.52% decline, the company maintained a high operating profit margin of 55.95%. The current TTM P/E of 17.34 trades at a significant discount compared to the industry average of 34.72.
With a promoter holding of 68.54% and no pledged shares, the company possesses the balance sheet strength to support the multi-year development of the Goregaon campus without heavy reliance on external debt.
| Date | Announcement | Amount |
|---|---|---|
| 27 Aug 2026 | Environmental Clearance Certificate received from SEIAA Maharashtra for proposed expansion projects in Realty and Exhibition segments at Nesco Center, GoregaonSource: nesco.in | – |
| 29 Mar 2025 | Intimation of Disapproval (IOD) building approval received from Brihanmumbai Municipal Corporation (BMC) for proposed Tower 2 (~5.01 million sq ft) at Nesco CenterSource: BSE filing | – |
What to watch next
- Start of physical excavation and foundation work for Tower-2 by late 2026
- Progress updates on the integrated hotel facility within the Nesco Center campus
- Q3 FY27 financial results announcement expected in late January 2027
- Renewal or extension of the Commencement Certificate before the October 2027 expiry
| Share price | ₹991.4 |
|---|---|
| Market capitalisation | ₹6,985.40 Cr |
| Revenue (annual) | ₹932.06 Cr |
| Net profit (annual) | ₹412.74 Cr |
| Revenue (latest quarter) | ₹228.44 Cr+7.86% vs previous quarter |
| Net profit (latest quarter) | ₹105.21 Cr+5.25% vs previous quarter |
| P/E (TTM) | 17.34×Sector 34.43× |
| Promoter holding | 68.54%0.00% QoQ |
| FII holding | 4.19%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Nesco Limited announcing the receipt of a Commencement Certificate for development projects at Nesco Center. Market figures from a third-party data provider.
