Nuvama Wealth Q1 FY27: Record Profit of ₹300 Crore, Client Assets Surpass ₹5 Lakh Crore
Nuvama Wealth Management reported a record Q1 FY27 profit of over ₹300 crore, with client assets reaching ₹5.36 lakh crore. Revenues were ₹909 crore. The company's MPIS assets grew 32% to ₹42,500 crore, and lending crossed ₹5,000 crore. PRIME fund closed at ₹4,000 crore. Offshore business nearing breakeven.
The announcement details record financial performance, significant asset growth, and strategic business updates across multiple segments, which are material to investors and the company's market position.
The company reported record profits, significant growth in client assets and revenues, and positive business segment performance, alongside a rating upgrade, indicating a strong financial and operational outlook.
Nuvama Wealth Management Limited announced a strong start to FY27, reporting record quarterly profits of over ₹300 crore for the first quarter ended June 30, 2026. Client assets under management crossed the significant milestone of ₹5 lakh crore, reaching ₹5,36,000 crore. The company's quarterly revenues stood at ₹909 crore, marking an 18% year-on-year growth. The Return on Equity (ROE) remained robust at nearly 30%.
The company highlighted key performance indicators across its business segments. Nuvama Wealth's Managed Portfolio Investment Service (MPIS) segment saw revenue grow by 20% year-on-year, with net new money crossing ₹3,000 crore and overall assets increasing by 32% to ₹42,500 crore. Technology investments, including AI-based tools like 'Nuggets' and 'RM Buddy', are enhancing RM productivity by over 25% per RM. The lending book crossed ₹5,000 crore, with Net Interest Income (NII) growing by 12% quarter-on-quarter.
Nuvama Private reported an 11% addition to its workforce over the past year, with 6-8 Relationship Managers (RMs) added in the last quarter. Annual Recurring Revenue (ARR) assets grew by 20% to ₹58,000 crore. The offshore business, with operations in Dubai and Singapore, is nearing breakeven, with Dubai already achieving it. Dubai and Singapore are expected to break even by the end of the year, contributing 5-7% to overall revenue.
In Asset Management, the PRIME commercial real estate fund closed at ₹4,000 crore, exceeding its initial target. The company is planning a second fund of ₹4,000-5,000 crore and contemplating a REIT platform. The private credit fund is expected to launch by the end of Q3. Public markets saw some redemptions due to SIFs, but the company is awaiting its SIF license to transition assets. Asset Services demonstrated strong momentum with a 20% quarter-on-quarter business growth, though future growth is expected to moderate.
Financially, the consolidated cost-to-income ratio was around 55%. The company's CRISIL rating was upgraded to 'AA stable' from 'AA-'. Management reiterated its strategy of focusing on the full-service platform model, leveraging technology, and addressing the affluent and HNI segments. The company is also exploring a stock appreciation rights (ESAR) program for employees, which is expected to have a lower dilution impact compared to traditional ESOPs.
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