Nuvama Wealth Management Limited — Investor Meet, 02-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Nuvama's Q3 FY26 earnings call highlights strong momentum: 9-month revenue grew 8% YoY, with PAT at ₹780 Cr. Wealth businesses drove growth, up 18% YoY and now contributing 57% of total revenue. Consolidated client assets reached ₹4,60,000 Cr. The lending book expanded robustly by 38-39% to ₹4,300 Cr since the fiscal year start. Asset Services revenues are recovering, with Q4 earnings projected back to Q1 levels, and yields stable at 2.6-2.9%.

Management's strategic vision includes expanding Asset Management via SIF (mutual fund license pending) and exploring M&A in alternate investments. They are building out offshore platforms, upgrading Relationship Manager quality, and adding capacity. For FY27, Nuvama targets ₹7,000-8,000 Cr in net new money for Asset Management, with overall business growth aimed at 20-25%. Current year net flows are projected at ₹19,000-20,000 Cr, rising to ₹25,000-26,000 Cr next year, supported by diversified product offerings. HFT activity has fully recovered. The outlook remains confident, focusing on platform innovation and client diversification.