JM Financial Limited — Updates, 28-01-2025: Press Release

JM Financial Limited reported consolidated revenue of Rs. 1,121 crore and profit after tax of Rs. 209 crore for Q3FY25. The company is shifting its focus in the wholesale credit sector from an on-balance sheet model to syndicating transactions, leading to a reduction in the loan book from Rs. 7,529 crore at March 2024 to Rs. 4,207 crore by December 2024. The provision coverage ratio on the wholesale real estate loan book improved significantly from 54% to 93% over the same period. Cash and cash equivalents rose to Rs. 5,840 crore, while group borrowing decreased to Rs. 12,143 crore.

In business updates, JM Financial closed 42 deals in CY24, raising approximately Rs. 88,996 crore and securing the top spot for QIP deal closures. Private Wealth assets under management increased by 18% year-on-year to Rs. 77,024 crore. Overall, the company continues to see strong metrics in capital markets and its affordable home loans segment, indicating a positive outlook, especially with the expansion of its branch network to 128 locations. Investors may want to monitor the strategic pivots and financial health closely.