Nesco Ltd.

NSE: NESCO | BSE: 505355 | ISIN: INE317F01035 |Industry: Misc. Commercial Services
|Expensive Rocket
Durability score
55 /100
Valuation score
18.2 /100
Momentum score
66.1 /100
Market Capitalizati...
3,924.6 Cr.
AVG Broker Target
717
PE TTM Price to Ear...
21.9
Nesco Ltd.    
27 May 2019
557.00
1.61%
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. has gained 20.30% in the last 3 Months
Nesco Ltd.    
15 Feb 2019, 12:00AM
557.00
1.61%
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 717.00 from 2 brokers.
Nesco Ltd.    
18 Dec 2018
557.00
1.61%
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 above all available SMAs
Nesco Ltd.    
14 Nov 2018
557.00
1.61%
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 717.00 from 2 brokers.
Nesco Ltd.    
28 Aug 2018
557.00
1.61%
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...
Nirmal Bang Institutional released a Buy report for Nesco Ltd. with a price target of 764.0 on 27 May, 2019.
Nesco Ltd.    
28 Aug 2018
557.00
1.61%
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. has gained 20.30% in the last 3 Months
Nesco Ltd.    
21 Aug 2018
557.00
1.61%
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. has gained 18.26% in the last 1 Month
Nesco Ltd.    
18 May 2018
557.00
1.61%
Nirmal Bang Institutional
Planned Restructuring of NESCO IT Park Impacts Earnings NESCO reported a net profit of Rs428mn for 4QFY18, up 20% YoY and down 2% QoQ. The decline in earnings on QoQ basis was because of: 1) Client vacating Building 1 as a part of planned restructuring of NESCO IT Park. NESCO IT Park revenues stood at Rs313mn, down 22% QoQ and 16% YoY. 2) Rise in other expenses by 13.8% to Rs177mn in 4QFY18. The decline in earnings was partially mitigated by lower tax expenses on account of deferred tax benefits amounting to Rs 44mn. However, earnings increased on YoY basis because of: 1) Relatively lower other expenses at Rs177mn, down 33% YoY. 2) Lower tax expenses at Rs116mn (deferred...
Nesco Ltd. has gained 22.28% in the last 6 Months
Nesco Ltd.    
19 Mar 2018
557.00
1.61%
HDFC Securities
We estimate 18/16% revenue/PAT CAGR over FY18-FY21E. At Rs 542, NESCO trades at 24.6/21.4/14.8x FY19/20/21E EPS. Our SOTP based Mar-20 fair value for the stock is Rs 713 implying a 14.7% investment CAGR over the next two years. We believe that the target price may be achieved earlier as construction of IT Park 4 nears completion (est. Dec'18-Mar'19). We recently met the management of NESCO and were impressed by the companys execution skills and its longer term vision. NESCO leases out IT office space (0.8 msft) and exhibition centers (0.6 msft) in Goregaon (Mumbai) off the Western Express highway on a legacy land parcel of 65 acres.
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Nesco Ltd. has gained 18.26% in the last 1 Month
Nesco Ltd.    
12 Mar 2018
557.00
1.61%
Nirmal Bang Institutional
We had a meeting with the management of NESCO recently. We remain bullish on the Sector: Real Estate company's earnings growth post restructuring of its IT Park and completion of Phase 1 of Bombay Exhibition Centre. Key takeaways from the meet are as follows: 1) CMP: Rs555 Completion of IT Park 4 by December 2018. 2) Demolition of IT Park 1 and 2 to commence by the end of CY18. 3) Phase 1 construction work to start by early CY19 and Target Price: Rs794 likely to be completed by FY22. 4) Bombay Exhibition Centre shall continue to operate Upside: 43% at 40% occupancy rate on account of seasonality. 5) Strong demand for office space with upcoming capacity in Goregaon area of Mumbai. 6) Rental hike led by renewal to Amit Agarwal...
Nesco Ltd. has gained 18.26% in the last 1 Month