Gaja Alternative Asset Management Limited – Investor Presentation Summary

Key Operational Highlights

  • Total Assets Under Management (AUM) details not specified in the presentation.
  • The platform has a team of 46 professionals, including extended team and advisors.
  • The company manages multiple funds with a focus on mid-market private equity investments.

Key drivers of operational performance: Strong performance income growth (17% YoY, 595% QoQ in Q1 FY27) driven by carried interest and fair value gains from underlying funds.

Segment-wise Performance

Performance is reported for the company as a whole; no segment-wise breakdown is provided in the presentation.

Financial Highlights

Q1 FY27 (Quarter ended June 30, 2026):

  • Revenue (Total Income): ₹51.8 Cr (26% YoY growth, 148% QoQ growth)
  • EBITDA: Not explicitly stated
  • PAT: ₹27.2 Cr (35% YoY growth, 678% QoQ growth)
  • EPS (annualized): ₹9.5 per share (28% growth)
  • Margins: Cost to Income ratio declined YoY to 38.4% from 42.3%

LTM June 2026 (Last Twelve Months):

  • Total Income: ₹168.4 Cr (39% YoY growth, 7% QoQ growth)
  • PAT: ₹89.1 Cr (38% YoY growth, 9% QoQ growth)
  • EPS (annualized): ₹7.8 per share (29% growth)

Drivers of financial performance: Growth driven by performance income (₹92.2 Cr LTM, 57% YoY growth) and treasury income (₹15.0 Cr LTM, 255% YoY growth).

Comparison to market estimates: Not provided.

Key Risks: Not explicitly disclosed in the presentation.

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not specified in the presentation.

Balance Sheet Snapshot

  • Net Worth as of June 30, 2026: ₹633.6 Cr (vs ₹534.0 Cr previous year, ₹606.5 Cr as of March 31, 2026)
  • Net Debt/Equity: Not specified
  • Reserves: Not specified
  • Current Assets/Liabilities: Not specified
  • Working Capital/Leverage Metrics: Not specified

Financial Health Insights: Not specified.

Capex & Cash Flow Health

  • Capital Expenditure: Not specified
  • Free Cash Flow: Not specified
  • Operating Cash Flow: Not specified
  • Net Debt Movement: Not specified

Investment Rationale: ₹372 Cr from IPO proceeds allocated for sponsor commitment across Fund IV, Fund V, and the Secondaries Fund.

Strategic & R&D Initiatives

Investments in Innovation: Focus on four sectoral themes: 1) Technology differentiation, scalable models; 2) Branded consumer products & D2C platforms; 3) Financial services including affordable housing finance, digital wealth managers; 4) Businesses addressing skills and employment gaps.

Expected impact on growth: Not quantified in the presentation.

Strategic Rationale: Sector-led investing combined with a repeatable active-ownership model focused on mid-market companies.

Industry Trends & Business Environment

Macro/Industry Trends: Indian Alternative Investment Funds (AIFs) commitments reached ₹16.9 trillion in FY26 and are projected at ₹41.0-44.0 trillion by FY30.

Impact on Company: Positions Gaja Capital in a rapidly scaling alternatives market outpacing traditional asset classes.

Management Commentary & Growth Outlook

Strategic Outlook: Building a multi-strategy alternatives platform with public shareholders participating in AMC economics across flagship funds, secondaries and future strategies.

FY Guidance: Not provided with specific numerical targets.

Market Share Targets: Not specified.

Risks and Opportunities: Not explicitly highlighted by management in the presentation.

Additional Headings

Fund Performance Updates:

  • Fund IV (2023 final close, ₹1,775 Cr): 75% deployed as of June 30, 2026, 7 investments, gross IRR of 29% (1st quartile vs industry)
  • Fund III (2016 final close, ₹1,598 Cr): Fully deployed across 10 investments, partially realized, gross IRR of 9% (1st quartile for vintage)
  • Fund II (2008 final close, ₹902 Cr): Fully deployed, substantially realized, gross MOIC 3.81x, gross IRR 19% (1st quartile)
  • Fund I (2005, ₹21 Cr): Fully deployed and realized, gross MOIC 5.61x, gross IRR 192% (1st quartile)

New Fund Launches:

  • Received SEBI approval for Fund V - ₹2,500 Cr CAT-II AIF with 10+2 year closed-ended term
  • Eastgate Secondaries Fund - focused on liquidity for GPs of PE/VC Funds in India with 5+2 year closed-ended term

Corporate Developments:

  • Completed ₹550 Cr IPO in August 2026, raising ₹450 Cr of primary capital
  • ₹78 Cr from IPO proceeds allocated for general corporate purposes including issue expenses
  • Declared final dividend of 15% (₹0.75 per share) for Financial Year 2025-26
  • Appointed PwC India as statutory auditors due to mandatory auditor rotation