Nesco Ltd.

NSE: NESCO | BSE: 505355 | ISIN: INE317F01035 |Industry: Misc. Commercial Services
|Expensive Performer
Durability score
45 /100
Valuation score
16.8 /100
Momentum score
49.9 /100
Market Capitalizati...
3,691.8 Cr.
AVG Broker Target
716
PE TTM Price to Ear...
20.4
Nesco Ltd.    
07 Aug 2019
523.95
-1.17%
buy
ICICI Securities Limited
Nesco reported a steady set of numbers in Q1FY20. On the operational front, Nesco IT Park Tower 4 has been completed while license agreements with reputed clients viz. WeWorks, KPMG etc, have been finalised. This tower could generate gross revenues to the tune of | 200 crore once fully leased. Going ahead, Nesco is considering taking up two new projects - New Hall in BEC (~2.5 lsf) and New IT Park tower 2 (~24 lsf) at total capex of ~| 1,700...
Nesco Ltd. is trading below it's 30 day SMA of 541.5
Nesco Ltd.    
07 Aug 2019
523.95
-1.17%
Nirmal Bang Institutional
NESCO has reported a net profit of Rs379mn for 1QFY20, up 3% YoY and down 26% QoQ. The marginal increase in earnings on YoY basis is because of: (1) Increase in revenue of NESCO Hospitality, NESCO IT Park and Indabrator segments and (2) Decline in cost of goods. The increase in revenue and decline in cost of goods sold have been offset by: (1) Lower other income on account of mark-to-market adjustments and (2)...
Nesco Ltd. has an average target of 716.00 from 2 brokers.
Nesco Ltd.    
30 Jul 2019
523.95
-1.17%
Nirmal Bang Institutional
We recently met the management of NESCO Limited. The key takeaways are: (1) Fit-outs started in the newly built Tower 4 and it is expected to start contributing to revenue from 1QFY21E (2) Building 2 to be vacated by Dec'19 for the construction of new Tower 2, (3) Bombay Exhibition Center to add 0.15mn sq. ft. of space by FY21E (4) Changes in cost of...
Nesco Ltd. is trading at high day volume of 30993.00000.
Nesco Ltd.    
27 May 2019
523.95
-1.17%
Nirmal Bang Institutional
NESCO reported a net profit of Rs514mn in 4QFY19, up 17% YoY and 22% QoQ. The growth in earnings was because of: 1) Increase in hospitality segment revenues. 2) Increase in revenues of BEC (Bombay Exhibition Centre). 3) Decrease in employee benefit expenses and cost of goods by 26% and 51%, respectively, on QoQ basis. We have retained Buy rating on NESCO with an unchanged target price of Rs764 based on FY21E NAV. Revenues increase on account of growth in revenues of BEC: NESCO reported revenues of Rs935mn, up 5.6% QoQ and 14% YoY. BEC revenues, at Rs426mn, increased 24% YoY and 15% QoQ. Indabrator segment's revenues stood at Rs63mn, down 11% YoY and 34% QoQ....
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Nesco Ltd. is trading above it's 200 day SMA of 483.36
Nesco Ltd.    
15 Feb 2019
523.95
-1.17%
Nirmal Bang Institutional
NESCO reported a net profit of Rs420mn for 3QFY19, down 4.1% YoY and 13.1% QoQ. The decline in earnings was because of: 1) Weak revenues of BEC (Bombay Exhibition Centre), down 6.7% YoY and 20% QoQ to Rs370mn. 2) Hospitality segment's revenues at Rs69mn were down 23.7% QoQ. 3) Other expenses increased 65.3% YoY and 23.5% QoQ to Rs258mn. We have...
Nesco Ltd. has an average target of 716.00 from 2 brokers.
Nesco Ltd.    
18 Dec 2018
523.95
-1.17%
Nirmal Bang Institutional
We hosted a real estate conference recently where we discussed with Mr. Dipesh Singhania, chief financial officer of NESCO regarding the company's strategy going forward. Following are the key takeaways from the meet: 1) Agreement signed for two units out of 39 in case of IT Building IV. 2) Letter of Intent (LoI) received for 17 units and they are under the negotiation stage. 3) Possibility of a delay in receiving occupation certificate for IT Building IV from December 2018 scheduled earlier to January 2019. 4) BEC's (Bombay Exhibition Centre) growth expected to be ~4-5% in FY20, despite shutdown for refurbishment. 5) Plan to start IT Building V and the leasable area could...
Nesco Ltd. is trading at high day volume of 30993.00000.
Nesco Ltd.    
14 Nov 2018
523.95
-1.17%
Nirmal Bang Institutional
Earnings Driven By Strong Performance Of Exhibition Centre & Indabrator NESCO reported a net profit of Rs493mn for 2QFY19, up 1.8% YoY and 35.7% QoQ. The increase in earnings was because of: 1) Healthy revenue growth in BEC segment of 21% YoY and 53% QoQ to Rs 459mn. 2) Indabrator segment's revenues of Rs103mn, up 57% QoQ and 46% YoY. 3) Employee benefit expenses declining 1.4% QoQ to Rs53mn. 4) A lower tax expense of Rs174mn in 2QFY19 led to an effective tax rate of 26%. However, a client vacating Building 1 as a part of planned restructuring of NESCO IT Park led to a decline in revenues of NESCO IT Park to Rs352mn, down 6% YoY. We have retained our Buy rating on NESCO with a revised target price...
Nesco Ltd. has an average target of 716.00 from 2 brokers.
Nesco Ltd.    
28 Aug 2018
523.95
-1.17%
buy
ICICI Securities Limited
As per media sources, Brihanmumbai Municipal Corporation (BMC) has allowed Nesco to hold events and exhibitions at Bombay Exhibition Centre (BEC). Few days ago, a letter from Municipal Corporation of Greater Mumbai (MCGM) was circulated over media that said MCGM had asked Nesco to discontinue events, exhibitions at BEC. Hence, as per recent media reports, BMC's ward officer had directed Nesco to stop hosting events at BEC until completion of construction of Metro. Nesco...
ICICI Securities Limited decreased Buy price target of Nesco Ltd. to 650.0 on 07 Aug, 2019.
Nesco Ltd.    
28 Aug 2018
523.95
-1.17%
Nirmal Bang Institutional
Revenues From Bombay Exhibition Centre May Take A Hit NBIE Values your patronage- Vote for The Team in the Asia Money poll 2018. Click Here This event update relates to an application made on 14 August 2018 by NESCO to the Brihan Mumbai Mahanagar Palika requesting permission for conducting an exhibition and also construction of a temporary tunnel (walkway) from Hall 1 to Hall 2 for Automation 2018' scheduled to be held in the Bombay Exhibition Centre (BEC) located at Goregaon (East) in Mumbai from 29 August 2018 to 1 October 2018. The Brihan...
Nesco Ltd. is trading above it's 200 day SMA of 483.36
Nesco Ltd.    
21 Aug 2018, 12:00AM
523.95
-1.17%
Nirmal Bang Institutional
We had a meeting with the management of NESCO at the Institutional Equities Conference hosted by us recently. We remain bullish on the company's earnings growth post restructuring of its IT Park, BEC (Bombay Exhibition Centre) and other businesses. Key takeaways from the meeting are as follows: 1) Completion of IT Park 4 by December 2018. 2) Demolition of IT Park 1 and 2 by mid-CY19. Although Building 1 has been vacated, Building 2 will remain occupied until June 2019. 3) Addition of 0.2mn sqft of BEC space to the existing 0.54mn sqft by 2Q/3QFY20. 4) Post demolition of Building 2, planned development of another 2mn sqft of IT Park (earlier planned to construct 1mn sqft of IT Park). 5) F&B;...
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Nesco Ltd. is trading below it's 30 day SMA of 541.5