National Standard India Ltd

What National Standard India Ltd does

National Standard (India) Limited (NSIL; CIN L27109MH1962PLC265959; BSE: 504882; ISIN INE166R01015) is a publicly listed Indian real estate development company incorporated on 20 August 1962, originally as National Standard Duncan Limited, and operating today as part of the Lodha Group following its acquisition in May 2011. The company is headquartered in Mumbai (Lodha Excelus, Mahalaxmi) and operates from a registered office in Mumbai's Fort area. NSIL's business is the development of a single mixed-use project — Lodha Grandezza — located in the central business district of Thane, Wagle Estate, comprising twin 18-storey residential towers alongside three commercial "Supremus" towers offering boutique office spaces of 2,000–20,000 square feet, targeted at the higher/upper-middle-income segment of the Mumbai metropolitan area.

The company's core asset is real estate inventory in the Lodha Grandezza project, with no proprietary technology platform, SaaS product, or app. It derives revenue through one-time sale of developed residential and commercial units. For FY26, NSIL reported sales of Rs 20.42 crore, down 8.55% year-on-year, with net profit of Rs 9.66 crore (down 26.82%); quarterly results show operational losses and zero sales in Q4 FY26. The equity has materially de-rated (47.2% price decline to Rs 1,144 as of 18 May 2026) and the entity is currently navigating a Scheme of Merger process supported by a Fedex Securities fairness opinion. Marketing and investor engagement occur through SEBI LODR disclosures and an investor-relations microsite; dematerialised shareholding is supported through NSDL and CDSL via registrar CB Management Services.

Governance has been marked by frequent churn at the CEO, Company Secretary, and Independent Director levels across 2016–2025; Mr. Chirag Sarvaiya is the most recent CEO appointment. The company has 11–50 employees and is listed on both the Bombay Stock Exchange and Calcutta Stock Exchange, with its place in the Lodha Group conglomerate providing brand association rather than operating synergies.

Name

National Standard India Ltd

Legal name

National Standard (India) Limited

Website

https://nsil.net.in

Company type

Public

Founded year

1962

Operating status

Operating

Headcount range

11–50 employees

Short description

National Standard (India) Limited is a publicly listed Indian real estate developer, part of Lodha Group since 2011, developing the Lodha Grandezza mixed-use project — twin 18-storey residential towers and three Supremus commercial towers — in Thane's Wagle Estate, targeting upper-middle-income buyers in the Mumbai metropolitan area.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117)

SIC

Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

Keywords

• Real estate development
• Residential real estate
• Commercial real estate
• Mixed-use development
• Property development

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Real Estate Development Sales: The company generates revenue through development and sale of residential and commercial real estate projects. For FY26, sales declined to Rs 20.42 crore from Rs 22.32 crore in FY25. The company has ceased reporting sales in recent quarters while posting operational losses.
2. Real Estate Operations: Operating losses reported in recent quarters with zero sales recorded in Q4 FY26, indicating contraction in business operations.

Distribution channels1 record

Marketing channels2 records

Core offering

National Standard (India) Limited is engaged in real estate development and operates the Lodha Grandezza mixed-use project in the central business district of Thane, Wagle Estate. The project comprises twin 18-storey residential towers and three commercial Supremus towers offering boutique office spaces ranging from 2,000 to 20,000 square feet, targeting the higher/upper middle income segment.

Product overview

National Standard (India) Limited operates as a real estate development company, a subsidiary of Lodha Group since May 2011. The company is developing the Lodha Grandezza project, a mixed-use development in Thane's central business district featuring twin 18-storey residential towers and three commercial Supremus towers with boutique office spaces. The company is listed on the Bombay Stock Exchange and Calcutta Stock Exchange, offering demat facilities through NSDL and CDSL.

Differentiator

Problem solved

Functional benefit

Brands

• Lodha Grandezza: Aspirational residential project by National Standard (India) Limited located in the central business district of Thane, Wagle Estate. The project comprises twin 18 storey residential towers in a mixed use development with three commercial Supremus towers comprising boutique offices with spaces ranging from 2,000 to 20,000 square feet. Target clients are higher/upper middle income segment.

Products and services

• Lodha Grandezza
• Supremus Towers

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CB Management Services (P) LtdoperationalOthersShare Transfer Agent providing demat facility to shareholders for holding equity shares with both depositories (NSDL & CDSL). Located at P-22, Bondel Road, Kolkata.

Scale indicators5 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• DLF Limited: India's largest listed real estate developer with broad residential and commercial portfolio. Comparable to NSIL as a publicly listed developer of premium housing, though DLF operates at vastly greater scale across multiple cities.
• Lodha Group (Macrotech Developers): Parent conglomerate and India's largest listed residential developer by sales. Directly comparable because NSIL is a Lodha subsidiary executing the same product type (premium residential + mixed-use) in the same Mumbai metropolitan market.

Direct peers

• Brigade Enterprises: Listed South-India-based developer with expanding presence in residential and commercial real estate. Comparable mixed-use development model with both residential towers and office space.
• Godrej Properties: Listed Indian residential developer with strong presence in Mumbai and MMR, targeting premium and upper-middle-income segments. Similar product positioning to Lodha Grandezza's twin residential towers.
• Mahindra Lifespace Developers: Listed Indian real estate developer with mixed-use and premium residential projects across major metros. Comparable in target segment and product mix, though smaller in scale than Lodha Group.
• Prestige Group (Prestige Estates Projects): Listed Indian developer of premium residential and commercial mixed-use projects. Comparable business model — developing integrated townships and mixed-use developments for upper-middle and premium buyers.
• Puravankara: Listed Indian developer of premium and mid-premium residential projects with a Provident brand for affordable housing. Comparable in listed-developer status, residential focus, and target buyer segment.
• Oberoi Realty: Mumbai-focused listed developer of premium and luxury residential plus commercial office space. Closely comparable to NSIL in target segment (upper-middle/high income), product mix (mixed-use), and geographic footprint (MMR).
• Sobha Limited: Listed Indian developer focused on premium residential and mixed-use developments with backward integration into construction. Comparable premium positioning and integrated development approach.

Emerging players

• Kolte-Patil Developers: Mid-sized listed Indian developer focused on premium residential and integrated townships in Pune and MMR. Comparable in product type and target segment, though typically smaller per-project scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights4 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 National Standard India Ltd