Nirlon - Phase V To Boost Revenues Significantly: ICICI Direct 
Nirlon Knowledge Park Mumbai (image: Company website)

Nirlon - Phase V To Boost Revenues Significantly: ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Nirlon Ltd.’s nine months FY21 (and Q3 FY21) performance was fairly stable.

Revenues in Q3 FY21 grew 4.5% YoY to Rs 80.1 crore. For 9MFY21, revenues grew 5% YoY at Rs 227.8 crore, largely driven by rental renewal.

Occupancy, which was at 97.5% was lower QoQ versus 99.5% in Q2, as one tenant had vacated earlier than licence term.

Nonetheless, the same is likely to be compensated as it will be largely leased again from March, 2021 onwards.

Ebitda for 9MFY21 at Rs 182.4 crore was up 6.2% YoY.

Click on the attachment to read the full report:

ICICI Direct Nirlon Company Update.pdf

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