Nuvama Wealth shares jump 3% on strong Q1 performance

Shares of Nuvama Wealth Management surged nearly 3% in early trade on Thursday as investors cheered its June quarter earnings report. The wealth management company delivered strong financial performance in the first quarter of the current fiscal on the back of broad-based growth across all its business segments.

Continuing its gaining streak for the fourth consecutive session, Nuvama Wealth shares rose as much as 2.8% to ₹7,122.50 on the BSE, while its market capitalisation climbed to ₹25,540 crore. The stock has risen 5% in four sessions, in an otherwise volatile broader market.

Nuvama shares touched its all-time high of ₹8,510 on June 30, 2025, rebounding sharply by 86% in less than two months from its 52-week low of ₹4,567.80 hit on April 7, 2025. The wealth management firm has delivered a positive return of 16% to its shareholders in the past one year; 34% in the past six months; and 1.5% year-to-date (YTD). The stock has seen a correction over 4% in a month.

For the April-June quarter of FY26, Nuvama Wealth’s consolidated revenue stood at ₹770 crore, up 15% year-on-year (YoY) from ₹668 crore in the same period last year. The operating profit after tax (PAT) rose 19% YoY to ₹264 crore versus ₹221 crore in Q1 FY25.

“We started the year on a strong footing, delivering broad-based growth across all our business segments. Our ability to scale efficiently, with a cost-to-income ratio at 55% alongside a disciplined and well-governed operating model, translated into meaningful outcomes. Our profit after tax grew by 19% YoY and we continued to deliver RoE of over 30% in Q1,” said Ashish Kehair, MD & CEO of Nuvama Group.

Segment wise, the revenue of wealth and asset management division rose 18% YoY to ₹377 crore, while the asset services recorded revenue growth of 46% YoY to ₹193 crore, driven by the scaling up of existing accounts and onboarding of new clients. However, capital markets posted 10% YoY dip in its revenue to ₹180 crore.  

“In wealth management, our multi-product platform continues to draw strong inflows across asset classes, supported by sustained investments in talent and technology that are enhancing client engagement and driving growth. In asset management, our commercial real estate, PRIME fund completed its 1st investment and has a decent pipeline for further deployments,” he said.

Nuvama Group further said that capital markets businesses delivered steady growth over last quarter, aided by improving market sentiment and continued client engagement. Recent RBI rate cuts improved liquidity, helping maintain healthy domestic fund flows. Stock markets saw modest, range-bound gains as volatility and soft earnings kept investors cautious, Kehair said.

“Looking ahead, U.S. tariffs and global trade tensions could weigh on sentiment, but India’s long-term growth fundamentals remain strong despite near-term earnings pressures, he added.

As of Q1 FY26, Nuvama managed ₹4,62,727 crore in client assets, serving over 13 lakh affluent and high-net-worth individuals (HNIs) and more than 4,400 of India’s most prosperous families.

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