On a sombre market day, NESCO Ltd stood out with a 3.3% jump in its share price after announcing a major ₹3,500 crore capital expenditure plan for Tower 2 in its Mumbai IT Park. The stock also touched a fresh 52-week on July 1.
On a relatively flat trading day in the Indian equity markets, NESCO Ltd emerged as a standout performer. While the benchmark indices, Nifty and Sensex, were up marginally by 0.03% and 0.09% respectively as of 11:25 am on Tuesday, July 1, 2025, the spotlight was on NESCO, which saw its share price rise by 3.3% to ₹1,203. The stock also touched a fresh 52-week high of ₹1,218.20 in intraday trade.
The up-move in NESCO’s share price comes on the back of a significant corporate development. The company’s Board of Directors has approved a capital expenditure of up to ₹3,500 crore for the construction of Tower 2 in its IT Park located at Nesco Center, Goregaon (East), Mumbai.
This major expansion plan follows the receipt of the Intimation of Disapproval (IOD) from the Brihanmumbai Municipal Corporation (BMC), which serves as a crucial preliminary approval for real estate development in the city. The company had earlier disclosed the receipt of the IOD to the stock exchanges on March 29, 2025.
According to the statement, the ₹3,500 crore investment will be deployed over a period of six years and will be primarily funded through internal accruals. The project is subject to the timely receipt of all necessary statutory approvals. The approval reflects NESCO’s long-term vision of strengthening its presence in the commercial real estate and IT infrastructure segments, and the market has responded positively to the news.
From a financial standpoint, NESCO reported a consolidated revenue from operations of ₹192.01 crore in Q4FY24, marking a modest increase of 1.60% compared to ₹188.98 crore in the same quarter last year. However, consolidated net profit came in at ₹88.61 crore, down 15.70% from ₹105.12 crore in the year-ago period.
Despite the recent dip in quarterly profit, NESCO has delivered strong returns to shareholders over time. The stock has gained 30.13% in the last one month alone, is up 28.66% over the past three months, and has risen 26.61% over the last year. Over a three-year horizon, NESCO shares have delivered multibagger returns of 118%.
Disclaimer: The article is for informational purposes only and not investment advice.
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