Nesco Limited has appointed Ashish Joshi as Chief Procurement & Contracts Officer, effective July 28, 2026. The company designated Joshi as Senior Managerial Personnel pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This appointment strengthens the firm’s procurement and contract management capabilities by leveraging Joshi’s extensive background in the real estate and infrastructure sectors.

The disclosure was made to BSE Limited and National Stock Exchange India Limited on July 28, 2026. Shalini Kamath, Company Secretary & Compliance Officer (A14933), signed the filing. The information was also published on the company’s website at www.nesco.in . The appointment aligns with SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, regarding the disclosure of senior managerial personnel changes.

Executive Profile

Ashish Joshi brings over 30 years of experience in strategic procurement, sourcing, contracts, supply chain management, and vendor development. His career spans leadership roles at prominent real estate and infrastructure companies. Key positions held include roles at Piramal Realty, Puravankara Limited, Oberoi Realty, and Runwal Developers Limited. This depth of experience is expected to support Nesco Limited’s operational efficiency and vendor relationship management.

Regulatory Compliance

The appointment follows the amended Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no relationships between directors requiring disclosure in this context. The filing ensures transparency for investors regarding key managerial changes within the organization.

Nesco Limited reported a 4% year-on-year increase in consolidated net profit to ₹99.96 crore for the quarter ended June 30, 2026 (Q1FY27), driven by a 15% rise in total income from operations to ₹255.40 crore. The Mumbai-based infrastructure developer posted earnings per share of ₹14.19, up from ₹13.64 in the corresponding period last year. The results reflect stable profitability despite seasonal variations in project execution cycles.

The Board of Directors approved the unaudited standalone and consolidated financial results at a meeting held on July 27, 2026, following review by the Audit Committee. The filing was made under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the newspaper publication intimation issued under Regulation 47 on July 28, 2026.

Financial Performance

Total income from operations grew to ₹255.40 crore in Q1FY27, compared to ₹221.45 crore in Q1FY26. This represents a sequential decline from ₹272.13 crore in the preceding quarter (Q4FY26), which contained balancing figures between audited full-year data and published year-to-date figures. Profit before tax stood at ₹127.04 crore, an increase from ₹123.82 crore in the prior year quarter.

Standalone profit after tax was reported at ₹99.96 crore, matching the consolidated figure. Total comprehensive income for the period was ₹100.05 crore. Equity share capital remained unchanged at ₹14.09 crore.

What the Numbers Show

A significant portion of the current quarter’s profitability includes a non-recurring gain of ₹11.22 crore classified as 'other income' in the Way-side Amenities segment. This gain arose from the unwinding of Right of Use Assets and Lease Liabilities after the company surrendered certain premises previously acquired on long-term leases, in accordance with Indian Accounting Standards (Ind AS). Excluding this one-time item, operational profit before tax would have been approximately ₹115.82 crore, slightly lower than the ₹123.82 crore reported in Q1FY26, suggesting that the headline profit growth is partly driven by accounting adjustments rather than pure operational expansion.

The company’s reserves (excluding revaluation reserve) stood at ₹2,982.33 crore as of March 31, 2026. No dividend was declared during the quarter.