Industrial Investment Trust

What Industrial Investment Trust does

Industrial Investment Trust Limited (IITL) is a Mumbai-headquartered, RBI-registered Non-Banking Financial Company (NBFC) that originated in 1933 as an investment trust and obtained its Certificate of Registration under Section 45-IA of the RBI Act in 2000. Listed on both BSE (501295) and NSE (IITL), IITL operates a 92+ year-old listed platform with a small 11-50 employee base and a 57.4% promoter-group holding led by Nimbus (India) Limited at 56.75%.

IITL's core business is secured and structured lending to corporates, SMEs, entrepreneurs, property owners, and securities holders, delivered through five products: Loan Against Property (LAP), Lease Rental Discounting (LRD), Loan Against Securities (LAS), SME Financing, and Project Finance, plus onward lending to other NBFCs. The technology layer comprises an NBFC lending platform with credit-appraisal and loan-management systems, and an online customer-onboarding portal at iitl.cloudbankin.com; no AI/ML capabilities are disclosed. Distribution is sales-led and relationship-driven, with no intermediary or marketplace channels.

The revenue model is interest income from the loan book supplemented by investment income from listed and unlisted securities. IITL reported a consolidated net loss of Rs 12.42 crore for FY26 (against a profit in the prior year), with a Rs 25.51 crore Q4 FY26 loss. The group has two disclosed wholly-owned subsidiaries — IITL Projects Limited and IITL Investment Advisors Pvt Ltd (the latter struck off in June 2026) — and has incorporated a new subsidiary in January 2025. The board has scheduled an August 2026 buyback consideration, and IITL has undergone significant leadership turnover in the past 12 months (new CEO-NBFC Mithilesh Kumar appointed April 2026; prior CEO-NBFC and CFO both resigned).

Name

Industrial Investment Trust

Legal name

Industrial Investment Trust Limited

Website

https://iitlgroup.com

Company type

Public

Founded year

1933

Operating status

Operating

Headcount range

11–50 employees

Short description

Industrial Investment Trust Limited is a Mumbai-based, RBI-registered NBFC founded in 1933 that provides secured lending products — including Loan Against Property, Lease Rental Discounting, Loan Against Securities, SME Financing, and Project Finance — to corporate, SME, and individual borrowers across India.

Ownership category

akta.pro rank

Product category

NBFC Lending and Financial Services

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Corporate & Institutional Trust Services (FSAAANAB)

akta.pro secondary industry

Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds) (FSAEALAM)

Keywords

• Secured corporate lending
• NBFC financing
• SME term loans
• Project finance
• Loan against property

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Lending: IITL generates revenue primarily through interest income on its structured loan products including Loan Against Property, Lease Rental Discounting, Loan Against Securities, SME financing, and Project Finance. The company operates as an RBI-registered NBFC without accepting public deposits.
2. Investment Income: The company invests in listed and unlisted securities as part of its core business operations, generating investment income alongside its lending activities.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Industrial Investment Trust Limited (IITL) is an RBI-registered Non-Banking Financial Company (NBFC) that provides secured structured lending products to corporate clients, SMEs, entrepreneurs, and property owners. Its core offerings include Loan Against Property (LAP), Lease Rental Discounting (LRD), Loan Against Securities (LAS), SME Financing, and Project Finance, distributed through a direct sales model and an online onboarding platform. The company also invests in listed and unlisted securities and provides onward lending to other NBFCs.

Product overview

Industrial Investment Trust Limited (IITL) operates as a Non-Banking Financial Company (NBFC) registered with RBI since 2000, offering a portfolio of five core secured lending products. The product suite includes Loan Against Property (LAP), Lease Rental Discounting (LRD), Loan Against Securities (LAS), SME Financing, and Project Finance. These products are designed for corporates, SMEs, and professionals, providing structured lending solutions with flexible terms, competitive interest rates, and transparent processes. The company also provides lending to other NBFCs for onward lending, real estate project finance, construction finance, equipment finance, and investments in listed and unlisted securities. The lending products are accessible through an online onboarding platform at https://iitl.cloudbankin.com/onboard/.

Differentiator

Problem solved

Functional benefit

Products and services

• Loan Against Property (LAP) Secured lending product that allows borrowers to unlock the value of their residential or commercial property to access funds for business expansion, education, or other financial needs, with competitive interest rates, flexible repayment options, and minimal documentation.
• Lease Rental Discounting (LRD) Product enabling borrowers to leverage rental income from leased commercial properties to access funds for business expansion, property investments, or other financial requirements, with flexible tenure and competitive interest rates.
• Loan Against Securities (LAS) Allows borrowers to access funds while keeping their securities intact, tapping the value of their financial portfolio without selling assets, with competitive interest rates, minimal documentation, and quick disbursal.
• SME Financing Customised term loans and cash flow solutions for entrepreneurs, small-business owners, and manufacturers, providing flexibility to scale, upgrade equipment, hire talent, and seize market opportunities without compromising liquidity.
• Project Finance Structured Project Finance solutions for greenfield and expansion projects across real estate, infrastructure, manufacturing, and SME sectors, built on rigorous cash-flow analysis, project viability assessment, and risk-mitigation structures such as escrow and milestone-linked disbursements.

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• Accord Fintech Pvt LtdminorOthersAccord Fintech Pvt Ltd designed and developed the IITL Group website (iitlgroup.com), indicating a vendor relationship for technology/digital services.
• MUFG Intime India Pvt LtdminorOthersMUFG Intime India Pvt Ltd serves as the Registrar and Transfer Agent for IITL, managing share registry services from their office at C 101, 247 Park, LBS Marg, Vikhroli (West), Mumbai 400083. Previously operated under name 'Link Intime India Pvt Ltd' before name change effective January 2, 2025.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Five-Star Business Finance: Indian NBFC focused on secured small-business and SME lending with branch-led direct sales. Similar secured-business-loan orientation and customer segment to IITL's SME Financing.
• Muthoot Capital Services: NBFC focused on Loan Against Property and two-wheeler finance, with a direct-sales model similar to IITL. Directly comparable LAP-led secured lending franchise.
• Capri Global Capital: Listed Indian NBFC focused on secured lending including LAP and SME/MSME finance with a similar direct-sales distribution model. Closely comparable product mix and customer base to IITL's LAP/SME stack.
• MAS Financial Services: Indian NBFC specialising in secured SME and micro-enterprise lending with strong direct-sales coverage. Comparable target segment (SME borrowers) and product approach to IITL's SME Financing vertical.

Broad incumbents

• Bajaj Finance: India's largest retail-focused NBFC, offering LAP, SME, LAS and project/infra finance among many products. Overlaps substantially with IITL's full product suite, but at vastly greater scale and brand reach.
• IIFL Finance: Diversified Indian NBFC with LAP, gold, housing and SME finance offerings alongside investment and advisory businesses. Comparable diversified product set including LAS and Project Finance.
• Cholamandalam Investment and Finance Company: Large Indian NBFC with a leading Loan Against Property and SME/business finance franchise plus vehicle finance. Highly comparable to IITL's LAP, LRD, SME and Project Finance products, though at vastly larger scale.
• PNB Housing Finance: Housing-focused NBFC with a sizable Loan Against Property book and corporate lending exposure. Overlaps with IITL's property-backed lending (LAP, LRD) at a much larger scale.
• Manappuram Finance: Diversified Indian NBFC with gold loans, microfinance, housing/commercial LAP and SME products. Comparable diversified secured-lending franchise with similar direct-sales distribution.
• LIC Housing Finance: Large housing finance NBFC owned by LIC of India - notable because LIC holds a nominee director seat on IITL's board. Directly comparable property-backed lending activity.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Customer concentration

• LinkedInlinkedin.com/company/iitl-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Industrial Investment Trust