Nuvama Wealth Management (NUVAMA) Q1 25/26 earnings summary

Executive summary

• Achieved broad-based growth across business lines, with Q1 FY26 revenues at ₹1,122.65 crore, up from ₹951.00 crore YoY, and operating PAT at ₹264 crore, up 19% YoY.

• Client assets grew 19% YoY to ₹4.6 lakh crore, with strong performance in Wealth, Private, Asset Management, and Asset Services segments.

• Return on Equity improved to 30.3% in Q1 FY26 from 29.4% YoY.

• Board approved consolidated and standalone unaudited financial results for the quarter and incorporation of new subsidiaries in India and UAE.

• Amended Code of Fair Disclosure to align with SEBI insider trading regulations.

Financial highlights

• Consolidated revenue for Q1 was ₹1,122.65 crore, up from ₹951.00 crore YoY; net profit after tax stood at ₹263.87 crore.

• Wealth Management revenues grew 18% YoY; Asset Management revenues up 37% YoY; Asset Services revenues up 46% YoY; Capital Markets revenues declined 10% YoY.

• Cost-to-income ratio improved to 55% from 56% YoY.

• Basic EPS for the quarter was ₹73.36, up from ₹62.51 YoY.

• Dividend payout maintained at ~48% of annual operating profits.

Outlook and guidance

• Confident in delivering INR 19,000-20,000 crore in net flows for the year, with private and wealth divisions expected to contribute significantly.

• Strategic focus on doubling RM capacity in 3-5 years and expanding client assets 2-2.5x over five years for Wealth and Asset Services.

• Asset Management aims to grow AUM 6-8x in five years, targeting 45-50% CAGR.

• Expecting 20-25% annual growth in net profits over the next few years, with continued strong performance in wealth and asset management.

• Management remains confident in compliance and ongoing legal matters.