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Saturday, June 22, 2024

NESCO Ltd reports impressive financial results for Q4 & FY 22-23


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Mumbai: NESCO Limited, a leading provider of integrated business ecosystems, announced its impressive Q4 and FY 22-23 financial results.

The company has demonstrated strong and consistent growth across all key performance indicators, highlighting its robust business momentum.

Consolidated Revenue: Rs. 177.72 crores, marking an impressive increase of 72.45% compared to the corresponding quarter of the previous year.

Net Profit: Rs. 84.95 crores, showcasing a significant growth of 58.73% year-on-year.

The demand for the IT Park segment continues to surge among leading multinational corporations. In Q4, the IT Park business generated revenues of Rs. 72.34 crores, reflecting a quarter-on-quarter growth of 2.66%.

This growth is attributed to an average occupancy rate of 90% and the sustained appeal of our integrated, secure, and sustainable ecosystem, strategically located to capture the interest of major occupiers.

We are pleased to report that the development of our new IT Park building remains on track, and with increasing occupiers’ attendance, our office segment is well-positioned for further growth.

In line with the company’s expansion efforts, Nesco Limited has recently introduced a new sub-division named ‘Restaurant and Outlets.’

This new division has inaugurated four new restaurants and a food court in Tower 04.

The company has also partnered with various reputed brands in their food courts in exhibitions, which has received high appreciation from organizers and visitors.

Mr. Krishna Patel, Chairman & Managing Director, Nesco Limited, “We are delighted to announce these strong financial results for the fourth quarter and full year of FY 2022-23.

The impressive growth across our business divisions is a testament to our strategic focus, resilient operations, and commitment to delivering exceptional value to our customers.

We are particularly encouraged by the continued demand in the IT Park sector and the confidence shown by our customers in the BEC division. With a solid balance sheet, healthy cash flow, and a diversified pipeline of businesses, we are well-positioned to capitalize on the current market upcycle and achieve our business goals.”

Nesco Limited’s strong financial performance post-pandemic is a testament to the company’s business growth across verticals.

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