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JM Financial Results: Latest Quarterly Results & Analysis

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JM Financial Ltd. 06 Nov 2025 17:58 PM
Result PDF

Q2FY26 Quarterly Result Announced for JM Financial Ltd.

Holding company JM Financial announced Q2FY26 results

  • Highest-ever quarterly fees and commission income at Rs 341 crore, increased by 20% YoY. PAT increased by 16% YoY to Rs 270 crore.
  • Wealth management expansion on track; Sales and wealth RMs headcount increased by 43% YoY to 1,015, addition of 11 branches YoY; recurring AUM up 26% YoY to Rs 32,021 crore.
  • Mutual Fund Average AUM increased by 30% YoY to Rs 14,902 crore, SIP flow of ~Rs 115 crore per month (YoY increase of 59%).
  • Affordable Home Loans AUM increased by 28% YoY to Rs 3,031 crore; customer base has increased by 39% YoY to ~29,000.
  • #1 in IPOs (in terms of value), closed 15 capital market transactions amounting to ~Rs 28,000 crore in Q2FY26. Pipeline of transactions is very strong, 56 filed IPO transactions aggregating to ~Rs 120,000 crore (further IPOs to be filed would be additional).

Vishal Kampani, Vice Chairman & Managing Director, JM Financial, said: “We are extremely excited to report another quarter of strong performance. We are significantly expanding our base as we execute our strategies on recruiting top talent, adding clients, expanding network including physical and digital infrastructure. The pipeline of transactions in corporate advisory and capital markets is extremely robust. We have crossed an important milestone of 1,000 sales people in our wealth management business. Our pipeline of mandates for syndication transactions is witnessing momentum. Our affordable home loans business has now expanded to 134 branches and reported a strong 28% YoY growth in AUM and a 39% YoY growth in customers.”

Result PDF

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Holding Company JM Financial announced Q1FY26 results

  • Highest ever operating PAT at Rs 454 crore (YoY increase of 166%).
  • Net worth has crossed Rs 10,000 crore. Book value per share at ~Rs 106.4.
  • Net revenue increased by 22% YoY to Rs 779 crore.
  • Pre-Provisioning operating profit increased by 22% YoY to Rs 389 crore.
  • Real estate loan book declined 56% YoY to Rs 2,063 crore.
  • Over the last 12 months, JM Financial Asset Reconstruction Company's share of recoveries stood at Rs 1,368 crore.
  • Net reversal of impairment on financial instruments of Rs 204 crore.
  • Borrowing has reduced by ~Rs 4,300 crore in the last one year.
  • Increased shareholding in JM Financial Credit Solutions (JMFCSL) to 100%.
  • Bajaj Allianz Life Insurance Company Limited to acquire 2.1% stake in JM Financial Home Loans for Rs 65.5 crore, valuing the business at ~Rs 3,120 crore.
  • Strong execution in wealth management expansion – YoY addition of 13 branches, sales and wealth RMs headcount has increased by 45% YoY to 947, recurring AUM up 37% YoY to Rs 31,180 crore.
  • Mutual Fund AUM increased by 49% YoY to Rs 13,901 crore, and SIP flow is ~Rs 120 crore per month.
  • Affordable Home Loans AUM increased by 29% YoY to Rs 2,911 crore.
  • #1 in Equity Capital Markets in Q1FY26 with 10 marquee transactions. The pipeline of transactions remains strong, 45 filed IPO transactions aggregating to ~Rs 100,000 crore (further IPOs to be filed would be additional).

Vishal Kampani, Vice Chairman & Managing Director, JM Financial, said: “We are extremely excited by the strong momentum across all our business verticals. Our performance is backed by decisive execution, be it in attracting top talent, adding marquee clients, or expanding our physical and digital presence. The transaction pipeline remains robust across businesses, reflecting our deep market engagement. In real estate loans and distressed credit, our focused recovery strategies have delivered strong results, and we remain committed to driving similar outcomes, going forward. The transaction with Bajaj Life Insurance Company Limited has created a benchmark valuation of over Rs 3,000 crore for the home loans business, which has been built bottom-up over the last 7 years. An extremely strong Q1FY26 operating profit after tax of Rs 454 crore has given very high visibility towards improving return on equity.”

Result PDF

Holding Companies company JM Financial announced Q4FY25 results

  • Integrated Investment Bank:
    • Successfully closed equity capital market deals cumulatively raising more than ~Rs 80,000 crore in FY25.
    • Private Wealth AUM increased by 11% YoY to Rs 75,804 crore (Rs 68,105 crore as of March 31, 2024)
  • Platform AWS (Asset management, Wealth management and Securities business):
    • SEBI Margin Trade Financing book increased by 12% YoY to Rs 1,583 crore (March 31, 2024 – Rs 1,410 crore).
    • Retail and Elite Wealth AUM increased by 8% YoY and 36% YoY respectively to Rs 31,191 crore and Rs 2,584 crore respectively (Retail and Elite Wealth AUM stood at Rs 28,795 crore and Rs 1,901 crore respectively as of March 31, 2024).
    • Closing AUM of mutual fund business doubled to Rs 13,419 crore (Rs 6,189 crore as of March 31, 2024). Closing AUM of equity schemes stood at Rs 9,968 crore (Rs 3,857 crore as of March 31, 2024).
    • We continue to invest in digital and asset management businesses.
  • Mortgage Lending:
    • Wholesale mortgage lending:
      • On the back of strong repayments, the loan book has reduced during the year by Rs 3,218 crore.
      • Provision coverage ratio stood at 87% as of March 31, 2025 (94% as of December 31, 2024 and 55% as of March 31, 2024)
    • Retail mortgage lending:
      • Further penetration into existing geographies with the branch network expanding to 128 (112 branches as of March 31, 2024).
      • AUM increased by 26% YoY to Rs 2,832 crore (Rs 2,256 crore as of March 31, 2024)
  • Alternative and Distressed Credit:
    • JM Financial Asset Reconstruction Company (JMFARC)’s AUM stood at Rs 12,878 crore (Rs 14,500 crore as of March 31, 2024).
    • Gross recoveries for the quarter stood at Rs 707 crore (FY25 Rs 3,050 crore).

Vishal Kampani, Vice Chairman & Managing Director, JM Financial, said: “The pipeline of capital market & M&A transactions continues to remain strong. We continue to build and scale our wealth and asset management businesses. We have increased our shareholding in JM Financial Credit Solutions Limited to ~97% from ~47%. We will focus on an integrated private markets business. The private markets business comprises of Private Credit (Corporate, Bespoke and Real Estate) with a key focus on syndication, and Private investments (PE growth, REITs etc.).

The affordable home loans business has expanded its reach through 128 branches and continues to demonstrate strong growth.”

Result PDF

Holding Companies company JM Financial announced Q3FY25 results

  • Total income: Rs 1,121 crore compared to Rs 1,261 crore during Q3FY24, change -11%.
  • Operating Profit: Rs 403 crore compared to Rs 466 crore during Q3FY24, change -13%.
  • PAT: Rs 209 crore compared to Rs 278 crore during Q3FY24, change -25%.
  • AUM: Rs 2,588 crore compared to Rs 1,946 crore during Q3FY24.
  • EPS: Rs 2.2 for Q3FY25.
  • Consolidated net worth: Rs 8,874 crore compared to Rs 8,643 crore during Q3FY24.

Vishal Kampani, Vice Chairman and Managing Director, JM Financial, said: “The performance of the capital markets focused businesses continues to remain strong. In CY24, JM Financial closed the highest number of QIP deals. In line with the guidance, there is a strong reduction in the wholesale loan book through repayments and the MSME loans through assignment. In our wholesale mortgage lending business, we have accelerated the provision coverage ratio to a robust 94% from 55% in the last nine months.

The affordable home loans business has demonstrated strong growth and has expanded to 128 branches. We continue to execute our strategies on our focused businesses i.e. corporate advisory and capital markets, wealth and asset management, private credit syndication and affordable home loans business.”

Result PDF

Holding Companies company JM Financial announced Q2FY25 results

Financial Highlights:

  • Integrated Investment Bank:
    • PAT increased by 51% YoY to Rs 215 crore (Rs 142 crore for QE Q2FY24). ROE for H1FY25 stood at 20.4%.
    • Private Wealth AUM* increased by 26% YoY to Rs 76,262 crore as of Q2FY25 (Rs 60,287 crore as of Q2FY24).
    • PMS AUM increased by 92% YoY to Rs 2,425 crore as of Q2FY25 (Rs 1,261 crore as of Q2FY24).
    • RBI lifted the restrictions imposed on JM Financial Products Limited (“JMFPL”). JMFPL is permitted to provide financing against shares and debentures with immediate effect
  • Mortgage Lending:
    • Wholesale mortgage lending:
      • In line with the guidance provided, the loan book (excluding ICD to group companies) has reduced during the quarter by Rs 1,173 crore on the back of strong repayments.
      • Provision coverage ratio has increased to 77% during the quarter (65% as of June 30, 2024 and 55% as of FY24).
      • Received approval from Competition Commission of India for the transaction involving acquisition of 42.99% stake by JM Financial Limited in JM Financial Credit Solutions Limited and acquisition of 71.79% stake by JM Financial Credit Solutions Limited in JM Financial Asset Reconstruction Company Limited from JM Financial Limited. The approval from RBI is awaited.
    • Retail mortgage lending:
      • Further penetration into existing geographies with the branch network expanding to 118 as of Q2FY25.
      • AUM increased by 38% YoY to Rs 2,366 crore as of Q2FY25 (Rs 1,714 crore as of Q2FY24) whereas loan book increased by 40% YoY to Rs 2,112 crore as of Q2FY25 (Rs 1,504 crore as of Q2FY24)
  • Platform AWS (Asset management, Wealth management and Securities business):
    • PAT excluding Digital and Asset Management increased by 78% YoY to Rs 55 crore.
    • SEBI Margin Trade Financing book increased by 58% to Rs 1,918 crore as of Q2FY25 (Q2FY24 – Rs 1,211 crore).
    • Retail and Elite Wealth AUM* increased by 17% YoY and 73% YoY respectively to Rs 30,983 crore and Rs 2,537 crore respectively as of Q2FY25 (Retail and Elite Wealth AUM stood at Rs 26,414 crore and Rs 1,466 crore respectively as of Q2FY24).
    • Closing AUM of mutual fund business grew more than 3 times to Rs 12,516 crore as of Q2FY25 (Rs 4,057 crore as of Q2FY24). Closing AUM of equity schemes grew more than 5 times to Rs 9,580 crore as of Q2FY25.
    • We continue to invest in digital and asset management businesses
  • Alternative and Distressed Credit:
    • JM Financial Asset Reconstruction Company (JMFARC)’s AUM stood at Rs 13,701 crore as of Q2FY25 (Rs 15,114 crore as of Q2FY24).
    • Gross recoveries of the quarter ended Q2FY25 stood at Rs 614 crore (H1FY25 – Rs 1,213 crore).

Vishal Kampani, Vice Chairman and Managing Director, JM Financial, said: “The Indian financial ecosystem continues to show resilience, supported by stable macroeconomic fundamentals and well-capitalized balance sheets.

We are seeing tremendous traction in the capital markets focused businesses and transaction pipeline continues to remain extremely strong. In line with the guidance, we have seen strong reduction in the wholesale loan book through repayments and the MSME loans through assignment. In our wholesale mortgage lending business, we have accelerated the provision coverage ratio to a healthy 77% from 55% in the last 6 months and from now on, the provisions are expected to normalize.

We are witnessing strong traction with the festival season in the affordable home loans business. Given the Group’s strong capitalization and cash levels, faster than expected reduction in the wholesale loan book, and the lifting of restrictions by the RBI, we expect reduction in the cost of borrowing for our key borrowing entities i.e. broking and affordable home loans businesses. We have made senior level hires and as a Group, are extremely excited with renewed focus on executing our strategies on our focused businesses i.e. corporate advisory and capital markets, wealth and asset management, private credit syndication and affordable home loans business.”

Result PDF

Holding company JM Financial announced Q1FY25 results:

  • Executed several capital market and M&A transactions
  • Private Wealth AUM increased by 27% YoY to Rs 74,040 crore as of June 30, 2024 (Rs 58,163 crore as of June 30, 2023)
  • PMS AUM increased by 86% YoY to Rs 2,325 crore as of June 30, 2024 (Rs 1,252 crore as of June 30, 2023)
  • Wholesale mortgage lending
    • Strong repayments of Rs 1,109 crore during the quarter leading to reduction in loan book
    • Provisions coverage ratio increased from 55% to 65% for Stage-3 loan accounts resulting in incremental provision of ~Rs 73 crore
  • Retail mortgage lending
    • Branch network expanded to 112 as of June 30, 2024 from 93 as of June 30, 2023
    • Quarterly disbursement of Rs 116 crore
    • Portfolio assignment of Rs 95 crore
    • Loan book has increased by 39% YoY to Rs 2,022 crore as of June 30, 2024 (Rs 1,450 crore as of June 30, 2023)
  • Platform AWS (Asset management, Wealth management and Securities business):
    • Average daily turnover increased by 86% YoY to Rs 60,740 crore as of June 30, 2024 (June 30, 2023 - Rs 32,626 crore)
    • SEBI Margin Trade Financing book grew more than two times to Rs 1,806 crore as of June 30, 2024 (June 30, 2023 – Rs 863 crore)
    • Retail and Elite Wealth AUM increased by 19% YoY and 62% YoY respectively to Rs 30,125 crore and Rs 2,181 crore respectively as of June 30, 2024 (Retail and Elite Wealth AUM* stood at Rs 25,316 crore and Rs 1,348 crore respectively as of June 30, 2023)
    • Closing AUM of mutual fund business grew more than three times to Rs 9,318 crore as of June 30, 2024 (Rs 2,811 crore as of June 30, 2023). Closing AUM of equity schemes grew more than six times to Rs 6,850 crore as of June 30, 2024.

Commenting on the results and financial performance, Vishal Kampani, Non-executive Vice Chairman, JM Financial, said, “The growth in the key economies has been resilient as underlying inflationary pressure has moderated and as a result, a number of central banks have adopted a less restrictive monetary policy. The Indian economy has demonstrated sustained resilience thanks to positive business outlook and consumer sentiment, robust private consumption and continued momentum in manufacturing and services. Resilient capital market and strong retail participation along with FIIs and DIIs have set the stage for robust activities. The healthy balance sheets of banks and corporates and capex push by the government created a conducive climate for investment and growth.

We are seeing tremendous traction in the capital markets, wealth and asset management businesses. Post the strategic announcements, we are aligning our resources and channelizing the bandwidth towards our focused businesses which include the capital markets, broking, wealth and asset management, private credit syndication and affordable home loans. We are happy to report that the AUM of our wealth management businesses crossed a milestone of rupees one lakh crore and the AUM of the mutual fund business has achieved a milestone of Rs 10,000 crore in the month of July 2024.”

Result PDF

Holding company JM Financial announced Q4FY24 & FY24 results:

  • Revenue stood at Rs 1,276 crore with YoY increase of 46% for Q4FY24.
  • Revenue for FY24 stood at Rs 4,832 crore with YoY increase of 45%.
  • This is the highest annual operating revenue ever reported.
  • PAT for Investment bank segment for FY24 stood at Rs 706 crore with YoY increase of 90%
  • Integrated Investment Bank: Another strong quarter across the integrated investment bank. ROE for FY24 for the segment stood at ~25%
  • Private Wealth AUM increased by 21% YoY to Rs 68,105 crore as of March 31, 2024 (Rs 56,515 crore respectively as of March 31, 2023)
  • Wholesale mortgage lending:
    • Strong repayments of Rs 2,542 crore during the quarter leading to reduction in loan book.
    • Pre-Covid loan book stood at Rs 306 crore (2.4% of total loan book) as of March 31, 2024 (Rs 1,571 crore as of March 31, 2023)
  • Retail mortgage lending:
    • Highest ever quarterly disbursement of Rs 449 crore
    • Branches expanded to 112 as of March 31, 2024 from 93 as of March 31, 2023
    • Loan book has increased by 52% YoY to Rs 2,104 crore as of March 31, 2024 (Rs 1,387 crore as of March 31, 2023)
  • Platform AWS (Asset management, Wealth management and Securities business): Average daily turnover increased by 71% YoY to Rs 55,383 crore as of March 31, 2024 (March 31, 2023 - Rs 32,359 crore)
  • Alternative and Distressed Credit:
    • JM Financial Asset Reconstruction Company (JMFARC)’s AUM stood at Rs 14,500 crore as of March 31, 2024 (Rs. 13,558 crore as of March 31, 2023, increase of 7% YoY)
    • During the quarter, recoveries stood at Rs 893 crore

Commenting on the results and financial performance, Vishal Kampani, Non-executive Vice Chairman, JM Financial Limited, said, “The global economy has been facing numerous challenges in terms of geopolitical uncertainties, tight monetary policy, restricting credit conditions, etc. Despite a muted global macroeconomic environment, during the quarter ending March 2024 the domestic economy has managed to maintain the momentum on the back of softer core inflation, government’s thrust on capex and robust domestic demand. Healthy balance sheets of financial institutions have led to a broad-based credit growth. The equity market has demonstrated healthy performances on the back of macroeconomic stability and corporate earnings momentum.

During FY24, we have reported our highest ever annual operating revenue and fees and brokerage income. We have had a strong performance in the capital markets business. FY24 RoE for the Investment Bank segment stood at ~25%. The equity AUM of the mutual fund business has crossed an important milestone of Rs 5,000 crore. We have further capitalized our retail mortgage business on the back of strong growth and performance.

We welcome the strategic decisions taken by our Board and begin FY25 with a clear and consistent business strategy. We are focused to continue the growth momentum across our businesses in the midst of an evolving market scenario.”

Result PDF

Holding company JM Financial announced Q3FY24 results:

Financial Highlights:
- JM Financial reported its highest quarterly revenue and operating profit, with a YoY increase of 33% and 46% respectively in Q3FY24.
- Revenue for Q3FY24 stood at Rs 1,261 crore, and PAT (Profit After Tax) was at Rs 278 crore.
- The Pre-Provision Operating Profit and Net Profit After Tax (including NCI*) saw a significant YoY increase.
- The Company's total income rose to Rs 1,261 crore in Q3FY24 from Rs 946 crore in Q3FY23, marking a 33% increase.
- Profit before tax increased from Rs 322 crore in Q3FY23 to Rs 417 crore in Q3FY24, a 30% rise.
- Net profit after tax and before NCI jumped 46% to Rs 278 crore in Q3FY24 from Rs 190 crore in Q3FY23.

Loan Book and Asset Quality:
- The loan book stood at Rs 15,111 crore as of December 31, 2023, a decrease from Rs 15,808 crore as of September 30, 2023.
- Gross NPA was at 4.5% and Net NPA at 2.2% as of December 31, 2023.
- SMA-2 and Net NPA SMA 2 were reported at 2.0% and 4.2% respectively.
- The total provision to loan book ratio was 3.3%.
- The consolidated net worth of the Company was Rs 8,643 crore.

Segment Performance:
- Integrated Investment Bank achieved a strong performance with a high ROE in the high teens.
- The Retail Mortgage Lending segment expanded its branches and loan book significantly with a YoY increase of 49% to Rs 1,759 crore.
- In Asset Management, Wealth Management, and Securities, the average daily turnover increased by 50% YoY, and the SEBI Margin Trade Financing book grew more than two times.
- JM Financial Asset Reconstruction Company's AUM stood at Rs 15,059 crore, a YoY increase of 36%.

Earnings Per Share (EPS) and Book Value:
- The EPS was Rs 2.9 for the quarter ended December 31, 2023.
- The Book Value Per Share (BVPS) increased to Rs 90.5.
- Debt to equity ratio was maintained at 1.5x.
- Cash and cash equivalents amounted to Rs 2,847 crore as of December 31, 2023.

Commenting on the results and financial performance, Vishal Kampani, Non-executive Vice Chairman of JM Financial, remarked, “The Indian economy has been showing resilience driven by strong fundamentals. Banks and NBFCs are broadening credit expansion and penetration, thanks to healthy balance sheets, capital adequacy, and improved asset quality. Equity markets are demonstrating heightened activity levels with a strong IPO rally. We are happy to report our highest-ever quarterly revenues and operating profit after tax. Our Integrated Investment Bank segment saw continued momentum. In CY2023, JM Financial ranked #1 for the highest number of IPOs executed.

The retail mortgage lending segment has demonstrated strong growth and has expanded to 112 branches. Our investments will continue in the retail mortgage business as we continue to diversify our loan book. We witnessed strong repayments in our wholesale mortgage lending segment.

On the alternative and distressed credit business, we continue to face delays in some of our large resolutions. Due to the delay, we further expect a lower-than-expected realization of these assets over the next few quarters.

We continue to invest in the physical and digital infrastructure of the Platform AWS businesses. The closing AUM of our mutual fund business crossed Rs 5,000 crore in January 2024 with an equity AUM of Rs 2,928 crore. We have witnessed strong growth in trading volumes for the broking business and strong traction in the SEBI MTF book.

Looking ahead, although the global economy is expecting muted growth, the Indian economy is likely to maintain its growth momentum on the back of upward corporate profitability and consumer confidence. We maintain a bullish outlook for our integrated Investment Bank, retail mortgage, and platform AWS businesses and are aligning our strategic approach and resources to capitalize on the conducive market environment.”

 

 

Result PDF

Holding company JM Financial announced Q1FY24 results:

  • Total income of Rs 1,081.1 crore in Q1FY24 compared to Rs 805.7 crore in Q1FY23, up 34.2% YoY
  • Pre-Provision Operating Profit of Rs 376.5 crore in Q1FY24 compared to Rs 291.4 crore in Q1FY23, up 29.2% YoY
  • Profit before tax of Rs 230.4 crore in Q1FY24 comapred to Rs 259.2 crore in Q1FY23, down 11.1% YoY
  • Net profit after tax and before NCI of Rs 176.6 crore in Q1FY24 vs Rs 198.4 crore in Q1FY23, down 11.0% YoY

Commenting on the results and financial performance, Vishal Kampani, Non-executive Vice-Chairman, JM Financial, said, “Equity and debt capital market activities are robust and we have a strong pipeline of transactions. We have witnessed strong traction in the Financial Institutions Financing book on the back of a strong retail credit environment.

In the wholesale mortgage lending business, we saw slippages from the Pre Covid-19/DCCO restructured book. The current NPA and SMA 2 portfolio represents the peak of stressed assets. In line with our earlier guidance, we continue to closely monitor these accounts and work on their resolutions. Provisioning requirements are expected to peak in FY24. Depending on the outcome of certain resolutions, we anticipate additional provisioning to be in the range of Rs 100 to Rs 135 crore for the balance of FY24. The balance wholesale mortgage lending book continues to remain strong and we are anticipating repayments. Our pipeline for transactions is robust.

We are diversifying our overall loan book mix through our retail mortgage business. Retail mortgage loan book constitutes 20% of overall mortgage lending (wholesale and retail) as of June 30, 2023. We will continue to invest in the retail mortgage business to further diversify the overall loan book.

On the distressed and alternative credit business, we continue to face delays in some of our large resolutions. We are consciously diversifying to acquire retail assets.

Our investments in Platform AWS businesses are on track. Our digital broking, “BlinkX”, is launched and is gearing up for the next phase of its journey. We announced the first close of our credit opportunities fund with a target deployment of Rs 1,500 crore (inclusive of co-investments).

Looking ahead, the stable economic scenario due to the strengthening macroeconomic fundamentals provides strong tailwinds for our diversified businesses.”

 

Result PDF

JM Financial announced Q1FY23 Result :

  • JM Financial’s consolidated net profit stood at Rs. 170.01 crore, a decrease of 16.31% YoY for Q1FY23.
  • The earnings per share for the quarter ended June 30, 2022 is Rs. 1.78. The consolidated net worth as at June 30, 2022 stands at Rs. 7,809 Cr and the gross debt equity (equity of Rs. 7,809 Cr non-controlling interest of Rs. 2,847 Cr) ratio is 1.10 times. Cash and cash equivalents stands at Rs. 2,878 Cr. The book value per share is Rs. 81.83.
  • Our consolidated loan book stood at Rs. 12,606 Cr as of March 31, 2022 compared to Rs. 13,017 Cr as of March 31, 2022 and Rs. 11,014 Cr as of June 30, 2021. Gross NPA and Net NPA stood at 3.52% and 2.31% respectively as of June 30, 2022 compared to 4.27% and 2.67% respectively as of March 31, 2022 and 3.46% and 1.89% respectively as of June 30, 2021. The loan book under the Resolution Framework for Covid-19 announced by RBI stood at 0.45% as of June 30, 2022 (0.81% as of March 31, 2022).
  • Overall provisions on the loan book stood at 4.5% of the loan book as of June 30, 2022 as compared to 5.8% of the loan book as of March 31, 2022 and 6.0% as of June 30, 2021.

Commenting on the results and financial performance, Mr. Vishal Kampani, Non-executive Vice Chairman, JM Financial Limited, said, “The world economy has been impacted by the war in Ukraine, higher-thanexpected inflation, tighter financial conditions and strict zero Covid policies in China. 

The capital markets continue to remain volatile and primary equity issuances have reduced substantially as compared to last year. We expect September quarter to continue to remain challenging for primary market issuances. Our pipeline of Investment Banking mandates continues to remain healthy and we are confident to execute a substantial volume of transactions in the next available window of opportunity.

During the quarter, we received higher than anticipated levels of prepayments across the lending book. The transaction flow for wholesale mortgage and bespoke financing transactions is strong and we are on track to achieve the guidance provided in May 2022 in our annual earnings call. The branch network of JM Financial Home Loans has expanded to 64 as of June 30, 2022 compared to 55 as of March 31, 2022. The increased infrastructure would further enhance the reach and accelerate the disbursements.

Looking ahead, we shall continue to leverage our strengths as an integrated and well capitalized financial services player.”

Result PDF

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