Nishat Mills Limited (NML), a leading textile company in Pakistan, has announced plans to expand its reach by setting up a fully-owned subsidiary in Türkiye and opening a liaison office in Bangladesh. This decision aligns with the company’s recent financial achievements, as it reported a profit of 10.5 billion rupees for the fiscal year 2023-24 (approximately ₺4.3 billion or $125.4 million).
The planned expansion into Türkiye is aimed at strengthening NML’s international operations, but the company noted that it is still waiting for the required regulatory approvals to move forward. Alongside this, NML also shared its intention to sell its 100% stake in Nishat Hospitality (Private) Limited, a move that aligns with its strategy to focus more on its core business and expand its global footprint.
Opening a liaison office in Bangladesh will allow NML to improve its connections in the textile sector across South Asia. These steps reflect the company’s goal of enhancing its global presence and expanding into new markets where it can maximize its growth potential.
Through these strategic moves, NML is not only aiming to grow its business beyond Pakistan but also working towards strengthening its operational capabilities in key regions. The company’s recent profit highlights its financial strength, providing a solid foundation for these new initiatives.
This expansion represents NML’s commitment to becoming a larger, more globally connected player in the textile industry.