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Nuvama Wealth Management Results: Latest Quarterly Results & Analysis

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Nuvama Wealth Management Ltd. 14 Aug 2025 11:41 AM
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Q1FY26 Quarterly Result Announced for Nuvama Wealth Management Ltd.

Capital Markets company Nuvama Wealth Management announced Q1FY26 results

  • Revenues: Q1FY26 stood at Rs 770 crore compared to Rs 668 crore during Q1FY25, change 15% YoY.
  • Operating Profit Before Tax (PBT): Rs 349 crore compared to Rs 293 crore during Q1FY25, change 19%.
  • Operating Profit After Tax (PAT): Q1FY26 stood at Rs 264 crore, grew by 19% YoY.
  • Delivered strong performance with momentum in Q1FY26:
    • Wealth and Asset Management: Sustained robust growth, revenues grew by 18% YoY.
    • Asset Services: Revenues grew by 46% YoY, driven by the scale-up of existing and the addition of new clients.

Ashish Kehair, MD & CEO, Nuvama Group, said: “In Q1, India’s economy stayed strong, supported by steady consumer demand and lower inflation. Recent RBI rate cuts improved liquidity, helping maintain healthy domestic fund flows. Stock markets saw modest, range-bound gains as volatility and soft earnings kept investors cautious. Looking ahead, US tariffs and global trade tensions could weigh on sentiment, but India’s long-term growth fundamentals remain strong despite near-term earnings pressures.

We started the year on a strong footing, delivering broad-based growth across all our business segments. Our ability to scale efficiently, with a cost-to-income ratio at 55% alongside a disciplined and well-governed operating model, translated into meaningful outcomes. Our profit after tax grew by 19% YoY, and we continued to deliver RoE of over 30% in Q1. In Wealth Management, our multi-product platform continues to draw strong inflows across asset classes, supported by sustained investments in talent and technology that are enhancing client engagement and driving growth. In Asset Management, our commercial real estate, PRIME fund, completed its 1st investment and has a decent pipeline for further deployments. In Asset Services, both our segments, International and Domestic, continue to scale meaningfully, deepening their granularity. Our Capital Markets businesses delivered steady growth over the last quarter, aided by improving market sentiment and continued client engagement. We remain confident in our differentiated value proposition, positioning us well to capture client interest and deliver sustainable, long-term growth”

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Result PDF

Capital Markets company Nuvama Wealth Management announced consolidated Q1FY25 results:

  • Revenues: Q1FY25 stood at Rs 668 crore, grew by 60% YoY.
  • Operating Profit After Tax (PAT): Q1 FY25 stood at Rs 221 crore, grew by 133% YoY.
  • Wealth and Asset Management businesses continues to witness secular growth,
  • Q1FY25 revenues grew by 18% YoY. Capital Markets business revenue grew by 153% YoY driven by heightened market activity and increase in our market share.
  • Board declared dividend of Rs 81.50 per share

Commenting on the performance Ashish Kehair, MD & CEO of Nuvama Group said, “Macroeconomic fundamentals for India remain robust. These favourable conditions, probusiness policies, strong markets and rising income levels are driving wealth creation in the hands of households. Changing customer investment preferences to capital markets products over traditional investment avenues augurs well for wealth management and asset management sectors. As these preferences change, product suite expands and regulations evolve the sector will consolidate and see unorganized movement to organized, as seen in matured markets.

We are pleased to report, with our integrated business model we were able to leverage these trends and deliver good results. We reported revenues of Rs 668 crore, an increase of 60% YoY and operating PAT of Rs 221 crore, an increase of 133% YoY. We are also making our first capital distribution as a listed company by way of dividend of Rs 81.50 per share.

Our execution of strategic priorities remains on track. We continue to grow our sales capacity, client relationships, client assets and our market share. In Wealth Management our investments continue; we added 60 RMs, launched an industry leading technology tool for portfolio-solutions and garnered healthy new flows for annuity products. We also received final approval from DIFC authorities in July’24 for our offshore private wealth proposition in Dubai. In Asset Management our AUM grew by 30% YoY and our fresh sales were ~ Rs 600 crore in Q1. This run rate is expected to grow as we have launched multiple new schemes in the last 3-6 months across all our three strategies. In public markets we have built good track record, and these are now gathering good interest from external distributors too. Momentum continued in capital markets. Growth in market volumes, rise in our market share, closure of multiple marquee deals in IB and new flows in asset services drove the top line. With operating leverage playing out the profitability rose further.

Looking ahead we remain optimistic on secular trends in wealth management industry and confident on our execution to create long term value for our stakeholders.”

Result PDF

Capital Markets company Nuvama Wealth Management announced Q4FY24 & FY24 results:

Financial Highlights:

  • Revenues: Q4FY24 stood at Rs 596 crore, grew by 35% YoY and FY24 at Rs 2,063 crore, grew by 31% YoY.
  • Operating Profit After Tax (PAT): Q4FY24 stood at Rs 181 crore, grew by 57% YoY and FY24 at Rs 597 crore, grew by 62% YoY.

Wealth Management:

  • Revenues: Rs 330 crore in Q4FY24, grew by 16% YoY and Rs 1,188 crore in FY24, grew by 17% YoY
  • PBT: Rs 113 crore in Q4FY24, grew by 15% YoY and Rs 416 crore in FY24, grew by 24% YoY.
  • Client Assets: Rs 2,47,835 crore as at end of Q4FY24, grew by 36% YoY. d. Added ~230 new RMs this fiscal, taking our RM count to ~1,200.

Asset Management:

  • Revenues (ex-carry): Rs 12 crore in Q4FY24, grew by 27% YoY and Rs 49 crore in FY24, grew by 34% YoY.
  • AUM: Rs 6,967 crore as at end of Q4FY24, grew by 25% YoY, of which Public Markets
  • AUM stood at Rs 2,070 crore, grew by 155% YoY.

Capital Markets:

  • Revenues: Rs 248 crore in Q4FY24, grew by 71% YoY and Rs 805 crore in FY24, grew by 64% YoY.
  • PBT: Rs 133 crore in Q4FY24, grew by 123% YoY and Rs 376 crore in FY24, grew by 180% YoY.
  • Client Assets for Asset Services: Rs 91,156 crore as at end of Q4FY24, grew by 109% YoY.

Commenting on the performance Ashish Kehair, MD & CEO of Nuvama Group said, “India’s structural growth journey continues, with robust GDP, healthy corporate earnings, sustained domestic demand and stable macros. Equity markets saw highest ever institutional flows in FY24 making India, one of the best-performing markets. With Nuvama’s comprehensive, diversified, and scaled wealth management platform we were able to leverage full potential of these trends. We closed fiscal 2024 with PAT of Rs 597 crore, growing by 62% YoY.

Our client assets stood at Rs 3.5 trillion, growing by 50% YoY, powered by ‘client-first’ philosophy, and supported by strong markets. We delivered revenues of Rs 2,063 crore led by growth across our business segments. Execution of our strategic priorities remains on track. In Wealth Management we scaled sales capacity and expanded our footprint. In Nuvama Wealth we added 200 RMs. In Nuvama Private we added 20 RMs and expanded to 3 new locations in India. We have made important progress on launch of our offshore proposition. In Asset Management, we continue to scale our strategies. Our public market funds AUM witnessed strong flows, grew by 155% YoY, and crossed Rs 2,000 crore mark. Our newly launched commercial real estate fund with Cushman & Wakefield is on track to raise funds as planned. We are expanding our distribution by building network across wealth managers, banks, and Institutions. In our Capital Markets business, we ended the year with a stellar performance supported by increased market volumes and growth in our market share.

As we enter fiscal 2025, we remain watchful on some of key global and domestic trends that may play out in coming quarters. We are confident on the long-term growth prospects of Wealth Management industry in India and excited to grow our capacity and capabilities and sustain this leadership."

Result PDF

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