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Nuvama Wealth Projects 10x Growth in Organized Wealth Assets by 2035
Nuvama Wealth Management has outlined a robust 10-year growth roadmap, projecting India's organized wealth managed assets to grow from ₹25-30 tn today to ₹250 tn by 2035. For 9M FY26, the company reported revenues of ₹2,297 Cr and a PAT of ₹780 Cr, reflecting significant scaling from FY21 levels. The company has successfully reduced its cost-to-income ratio from 73% in FY21 to 55% in 9M FY26 while improving RoE to 28.4%. Strategic priorities include doubling relationship manager capacity in the next 3-5 years and expanding into private credit and infrastructure asset classes.
Key Highlights
Organized wealth managed assets in India projected to grow 10x to ₹250 tn over the next decade.
9M FY26 PAT reached ₹780 Cr with a Return on Equity (RoE) of 28.4%.
Cost-to-income ratio improved to 55% in 9M FY26, down from 73% in FY21.
Asset Management AUM scaled to ~₹13,000 Cr with plans to launch new Private Credit and Real Asset strategies.
Company aims to double Relationship Manager (RM) capacity within the next 3 to 5 years.
💼 Action for Investors
Investors should view the improving RoE and declining cost-to-income ratio as signs of strong operating leverage. Monitor the company's ability to scale its Relationship Manager headcount as a key indicator of future revenue growth.
Nuvama Q3 FY26 Operating PAT Grows 4% YoY to $29M; Wealth Management Revenue Up 18%
Nuvama Wealth Management reported a steady performance for Q3 FY26, with total revenue increasing 4% YoY to $83 million. The growth was primarily driven by the Wealth Management segment, which saw an 18% YoY revenue jump, and Asset Management fees, which rose 33%. While Capital Markets revenue moderated by 21% YoY, the company maintained a strong Operating PAT of $29 million for the quarter. The 9M FY26 Return on Equity (RoE) remains robust at 28.4%, supported by a total client asset base of over $50 billion.
Key Highlights
Total Revenue for Q3 FY26 reached $83 million, up 4% YoY, with Wealth Management contributing 57% of the mix.
Operating PAT for 9M FY26 grew 7% YoY to $86 million, excluding one-time statutory impacts.
Total Client Assets stood at $50,764 million, with Nuvama Wealth assets growing 9% YoY.
Asset Management AUM increased 12% YoY to $1,385 million, while Asset Services revenues grew 7% QoQ.
The company maintained a consistent dividend payout policy, distributing approximately 48% of annual operating profits over the last two years.
💼 Action for Investors
Investors should view the strong growth in recurring wealth and asset management fees as a positive sign of business resilience against cyclical capital market volatility. The stock remains a high-conviction play on India's growing affluence and the shift toward professional wealth management.
Nuvama Wealth Q3 FY26: 9M PAT Reaches ₹780 Cr, Lending Book Grows 39%
Nuvama Wealth Management reported a strong performance for 9M FY26 with an operating PAT of ₹780 crores, reflecting a 45% CAGR over the last three years. The Wealth Management segment saw a 48% growth in MPIS revenues, while the lending book expanded significantly to ₹4,300 crores. The company is diversifying its Asset Management arm with a pending mutual fund license and the upcoming launch of a Strategic Investment Fund (SIF). Management remains optimistic about offshore expansion in Dubai and Singapore, with the Dubai office already reaching break-even.
Key Highlights
9M FY26 Operating Profit After Tax stood at ₹780 crores, a significant jump from ₹253 crores in 9M FY23.
Wealth Management MPIS revenues grew by 48% YoY, now contributing 60% of total wealth revenues.
The lending book increased by 39% during the fiscal year to reach ₹4,300 crores as of Q3 end.
Private Wealth ARR assets crossed ₹50,000 crores with a blended retention of approximately 90 basis points.
Commercial real estate fund AUM reached ₹3,000 crores with plans to scale to ₹4,000 crores.
💼 Action for Investors
Investors should monitor the successful scaling of the lending book and the transition into the mutual fund space as key growth drivers. The company's ability to maintain a 45% profit CAGR makes it a strong player in the evolving Indian wealth management landscape.
Nuvama Reports 9M FY26 Cons. PAT of ₹771 Cr; Board Approves ₹100 Cr Investment in Asset Management
Nuvama Wealth Management reported a consolidated net profit of ₹771.47 crore for the nine months ended December 31, 2025, with a net worth of ₹3,839.14 crore. The board has approved a fresh investment of up to ₹100 crore in its wholly-owned subsidiary, Nuvama Asset Management Limited (NAML), to fuel growth. Significantly, the company has initiated a preliminary evaluation of strategies for better value discovery, which may include reorganizing business segments. Additionally, Keyur Ajmera has been appointed as the Group Chief Risk Officer effective February 1, 2026.
Key Highlights
Consolidated Net Profit for 9M FY26 reached ₹771.47 crore with a Net Worth of ₹3,839.14 crore.
Standalone Q3 FY26 Net Profit rose to ₹280.29 crore, bolstered by dividend income of ₹230.55 crore.
Approved equity investment of up to ₹100 crore in Nuvama Asset Management Limited (NAML).
Initiated evaluation of business segment reorganization for better shareholder value discovery.
Management transition with Keyur Ajmera appointed as Group Chief Risk Officer (SMP).
💼 Action for Investors
Investors should watch for further disclosures regarding the 'value discovery' strategy, as a potential business reorganization could unlock significant shareholder value. The capital infusion into the asset management arm indicates a strategic focus on scaling high-margin segments.
Nuvama Q3 Standalone PAT Rises to ₹280 Cr; Board Approves ₹100 Cr Investment in Asset Management
Nuvama Wealth Management reported a strong standalone performance for Q3 FY26, with net profit rising to ₹280.29 crore from ₹206.86 crore year-on-year. The board has approved a strategic capital infusion of up to ₹100 crore into its wholly-owned subsidiary, Nuvama Asset Management Limited, to fuel expansion. Furthermore, the company is initiating a preliminary exploration of business reorganization to optimize segment structures and discover better value for shareholders. A key management transition was also announced, with Keyur Ajmera appointed as the new Group Chief Risk Officer.
Key Highlights
Standalone net profit for Q3 FY26 increased to ₹280.29 crore versus ₹206.86 crore in Q3 FY25.
Consolidated net profit for the nine-month period ended Dec 31, 2025, stood at ₹771.47 crore.
Board approved a fresh investment of up to ₹100 crore in Nuvama Asset Management Limited.
Company is evaluating strategies for business segment reorganization to improve shareholder value discovery.
Consolidated net worth reached ₹3,839.14 crore as of December 31, 2025.
💼 Action for Investors
Investors should view the consistent profit growth and the strategic intent to reorganize business segments as positive catalysts for long-term value. Monitor further disclosures regarding the 'value discovery' strategies as they could lead to structural changes or demergers.
Nuvama Q3 Results: Rs 771 Cr 9M Profit, Rs 100 Cr AMC Investment, and New Group CRO
Nuvama Wealth Management reported a consolidated net profit of ₹771.47 crore for the nine months ended December 2025. The board has approved a strategic investment of up to ₹100 crore in its asset management subsidiary to drive expansion. A significant leadership change was announced with Keyur Ajmera taking over as Group Chief Risk Officer from February 2026. Furthermore, the company is initiating a preliminary exploration of reorganizing business segments to unlock shareholder value.
Key Highlights
Consolidated 9M FY26 Net Profit reached ₹771.47 crore with a Net Worth of ₹3,839.14 crore.
Standalone Q3 FY26 Net Profit stood at ₹280.29 crore on a total income of ₹406.50 crore.
Approved ₹100 crore equity investment in wholly-owned subsidiary Nuvama Asset Management Limited.
Keyur Ajmera appointed as Group Chief Risk Officer; predecessor moving to a new senior group role.
Board evaluating business reorganization strategies for better value discovery for shareholders.
💼 Action for Investors
The focus on value discovery and capital infusion into the AMC arm are positive long-term signals. Investors should monitor the progress of the proposed business reorganization for potential value unlocking.
Nuvama Q3 Standalone PAT Grows 35% YoY to ₹280 Cr; Board to Invest ₹100 Cr in AMC Subsidiary
Nuvama Wealth Management reported a robust standalone performance for Q3 FY26, with Net Profit rising to ₹280.29 crore from ₹206.86 crore YoY. For the nine-month period ended December 31, 2025, the group recorded a consolidated net profit of ₹771.47 crore and maintained a healthy net worth of ₹3,839.14 crore. The board has approved a strategic investment of up to ₹100 crore in its Asset Management subsidiary and is exploring business reorganization for better value discovery. Additionally, Keyur Ajmera has been appointed as the new Group Chief Risk Officer.
Key Highlights
Standalone Net Profit for Q3 FY26 increased by 35.5% YoY to ₹280.29 crore.
Consolidated Net Profit for 9M FY26 reached ₹771.47 crore with a net profit margin of 22.90%.
Board approved a capital infusion of up to ₹100 crore into Nuvama Asset Management Limited.
Company is evaluating strategic reorganization of business segments for better shareholder value discovery.
Keyur Ajmera appointed as Group Chief Risk Officer effective February 1, 2026.
💼 Action for Investors
Investors should view the strong earnings and the intent for 'value discovery' as positive catalysts for the stock. Monitor further announcements regarding the potential business reorganization or demerger of segments.
Nuvama Wealth Completes 1:5 Stock Split; New Shares Credited Under New ISIN
Nuvama Wealth Management has finalized its stock split process, sub-dividing each equity share of face value ₹10 into five equity shares of face value ₹2. The company has received formal credit confirmation from both NSDL and CDSL for the new shares under the new ISIN INE531F01023. The execution of this corporate action took place on December 27, 2025. This move is intended to improve liquidity and make the stock more accessible to retail investors.
Key Highlights
Stock split ratio of 1:5, reducing face value from ₹10 to ₹2 per share
New ISIN INE531F01023 assigned and activated for the sub-divided shares
Corporate action executed on December 27, 2025, with depository confirmations received on December 29-30
Over 181 million total shares credited across NSDL and CDSL systems following the split
💼 Action for Investors
Investors should verify their demat accounts to ensure the updated share quantity is reflected and note the adjusted cost price per share. No manual action is required as the credit is handled automatically by the depositories.
Nuvama Wealth Incorporates New Trusteeship Subsidiary with Rs 1 Crore Capital
Nuvama Wealth Management Limited has incorporated a new wholly owned subsidiary, Nuvama Trusteeship Company Limited, on December 9, 2025. The subsidiary is dedicated to providing corporate trusteeship services, expanding Nuvama's footprint in the financial services sector. The company has invested Rs 1 crore to subscribe to 100% of the initial paid-up share capital. This move is part of Nuvama's broader strategy to offer a comprehensive suite of services to its wealth management clientele.
Key Highlights
100% ownership in the newly incorporated Nuvama Trusteeship Company Limited
Initial investment of Rs 1,00,00,000 (Rs 1 Crore) for 10 lakh equity shares
The new entity will focus on corporate trusteeship and related financial services
Incorporation completed on December 9, 2025, following an earlier board intimation in August
💼 Action for Investors
This is a strategic expansion that builds out Nuvama's service ecosystem. Investors should monitor the growth of this subsidiary as it contributes to diversified fee-based revenue over the long term.
Nuvama Wealth Incorporates New Subsidiary Nuvama Trusteeship with ₹1 Crore Investment
Nuvama Wealth Management has officially incorporated a new wholly owned subsidiary, Nuvama Trusteeship Company Limited, as of December 9, 2025. The company has committed an initial investment of ₹1,00,00,000 to acquire 100% of the equity share capital. This new entity is set to operate within the financial services sector, specifically focusing on corporate trusteeship services. This move follows the company's strategic plan previously announced in August 2025 to diversify its service portfolio.
Key Highlights
Incorporation of Nuvama Trusteeship Company Limited as a 100% wholly owned subsidiary.
Initial cash investment of ₹1,00,00,000 for 10,00,000 equity shares at ₹10 each.
The new subsidiary will provide corporate trusteeship services and other financial activities.
The incorporation was completed on December 9, 2025, following a board decision in August 2025.
💼 Action for Investors
Investors should monitor the growth of this new trusteeship vertical as it complements Nuvama's core wealth management business. This expansion is likely to enhance the company's service ecosystem and long-term fee-based income.
Nuvama Shareholders Approve Equity Share Split with 99.99% Majority
Nuvama Wealth Management Limited has received overwhelming shareholder approval for the sub-division (split) of its equity shares via a postal ballot. The resolution was passed with 99.9996% of votes in favor, alongside an approval to alter the Capital Clause of the Memorandum of Association. This move is strategically aimed at improving the liquidity of the stock and making it more accessible to a broader base of retail investors. The voting process concluded on December 7, 2025, with significant participation from both promoters and institutional investors.
Key Highlights
Shareholders approved the sub-division/split of equity shares with a 99.9996% majority vote.
Alteration of the Capital Clause of the Memorandum of Association was passed with 99.9995% favor.
A total of 27,304,610 votes were polled for the split resolution out of 36,118,815 total shares.
The company reported 1,27,536 shareholders as of the record date of November 3, 2025.
Institutional participation was high with 84.87% of institutional shares being voted.
💼 Action for Investors
Investors should monitor upcoming exchange filings for the announcement of the specific 'Record Date' for the stock split. While the split does not change the company's fundamentals, it is expected to increase trading liquidity and lower the entry price for retail participants.