Gamco Ltd has posted an EBITDA loss of Rs 28.12 crore and a net loss of Rs 47.14 crore for FY2026. Formerly an equity-focused NBFC, the firm is pivoting toward an institutional multi-asset platform, investing heavily in real estate, industrial warehousing, and hospitality. Shareholders should track the execution of these capital-intensive projects as the company moves away from a standalone equity portfolio model.
Gamco Ltd Reports FY2026 Results Amid Strategic Pivot
Revenue from Operations stands at Rs 301.41 crore; PAT loss recorded at Rs 47.14 crore.
Reader Takeaway: Management is shifting from lumpy equity gains to steady, asset-backed rental income, though project execution risks remain high.
What just happened
Gamco Ltd (formerly Visco Trade Associates Ltd) has released its FY2026 financial performance, showing a transition period marked by operational losses. The company reported revenue from operations of Rs 301.41 crore, while EBITDA and PAT landed in the red at Rs 28.12 crore and Rs 47.14 crore, respectively. Management attributes these losses to market volatility and initial capital outflows for new strategic investments.
Why this matters
The company is aggressively moving from a traditional NBFC equity model toward an institutional platform focused on real estate, warehousing, and hospitality. This transformation aims to build an annuity-based income stream, moving away from the unpredictability of equity trading.
Key Strategic Developments
- Real Estate: Acquired a 96.26% stake in Uma Properties & Traders Ltd for Rs 88 crore in October 2025, securing prime land in Alipore, Kolkata.
- Warehousing: Committing Rs 1,200 crore in capex to develop 50 lakh sq. ft. of warehousing space in West Bengal.
- Hospitality: Purchased a 33.33% stake in Blissara Resorts (Andamans) in August 2026 for Rs 23.29 crore to build a 140-key upscale hotel.
- Divestment: Completed the sale of subsidiary Visco Advisory Pvt. Ltd. for Rs 15.80 crore.
Risks to watch
The transition is capital-intensive and carries significant execution risk. Investors should monitor how the company funds its ambitious Rs 1,200 crore warehousing project and whether it can achieve profitability in its new asset-heavy ventures. The volatility in financial performance is expected to continue until these projects become operational.