Nuvama Wealth Q1 profit rises 16% to ₹306 crore; client assets cross ₹5 lakh crore

Nuvama Wealth Management Ltd. reported a strong start to FY27, with consolidated net profit rising nearly 16% year-on-year to ₹305.8 crore in the quarter ended June 30, driven by broad-based growth across its wealth management, asset services and capital markets businesses.

Revenue for the quarter increased 22.6% to ₹1,376 crore from ₹1,123 crore in the corresponding period last year. Operating performance remained healthy, with EBITDA rising 18.4% year-on-year to ₹724.2 crore, while EBITDA margin stood at 52.62% compared with 54.48% a year earlier. The company also crossed ₹5 lakh crore in client assets during the quarter.

Wealth management drives growth

Nuvama said the June quarter marked its highest-ever quarterly profit, supported by healthy momentum across businesses. The wealth management business continued to benefit from client acquisition, net inflows and sustained margins, while asset services maintained strong growth. The capital markets business also delivered a resilient performance despite a volatile market environment, aided by strength in its fixed income franchise.

Commenting on the performance, Ashish Kehair, managing director and CEO of Nuvama Group, said, "We are pleased to begin FY27 on a strong note, delivering our highest-ever quarterly profit exceeding ₹300 crore, revenues crossing ₹900 crore, and client assets surpassing ₹5 trillion. Our performance reflects the strength of Nuvama's diversified platform, disciplined execution, and the deep trust that clients continue to place in us across market cycles."

The company said client assets increased to ₹5.36 lakh crore during the quarter, reflecting continued client engagement and franchise expansion. Wealth management client assets stood at ₹3.64 lakh crore, while asset services client assets grew 25% year-on-year to ₹1.59 lakh crore.

Focus on growth and technology

Kehair said the company continued to invest in talent, technology and product capabilities across its wealth platforms, while newer initiatives such as offshore wealth and AI-enabled productivity tools were making encouraging progress.

"We remain excited about the long-term opportunity ahead and are committed to building a larger, stronger and more resilient franchise for all our stakeholders," he said.

During the quarter, Nuvama also secured SEBI's final approval for its mutual fund licence and completed the final close of its PRIME commercial real estate fund at around ₹4,000 crore, strengthening its asset management platform.

Separately, the board approved an enabling resolution to raise up to ₹500 crore through the private placement of non-convertible debentures in one or more tranches, subject to shareholder approval. It also approved acquiring the remaining 26% stake in Pickright Technologies, making it a wholly-owned subsidiary, and an investment of up to ₹100 crore in wholly-owned subsidiary Nuvama Asset Management Ltd.

Shares of Nuvama Wealth Management ended Thursday's session 1.54% lower at ₹1,799 apiece on the NSE. Despite the day's decline, the stock has gained more than 21% over the past year, outperforming the Nifty 500, which has risen nearly 1.5% during the same period.