JM Financial Q2 PAT Rs. 240 Crores, Declares Dividend

Date: November 4, 2026

JM Financial Limited reported its unaudited financial results for the second quarter and half year ended September 30, 2026 (Q2FY27).

| Consolidated Net Revenue | 712 | 708 | ~ (flattish) |

| Consolidated Net Profit After Tax, NCI and share of associates | 240 | 270 | (11%) |

| Consolidated EPS (Rs.) | 2.5 | 2.8 | (11%) |

| Consolidated Net Worth^ | 10,993 | 10,241 | 7% |

| BVPS (Rs.)^ | 114.9 | 107.1 | 7% |

| Debt/Equity^ | 1.0x | 1.1x | |

| Cash and Cash Equivalents | 2,753 | 2,955 | (7%) |

^Computed after reducing goodwill of Rs. 52.4 crores from shareholders' funds

Corporate Advisory and Capital Markets:

One of the best quarters for Investment banking business
Profits for the segment grew 4x quarter-on-quarter to Rs. 127 crores
Ranked #1 by deal value across IPOs + QIPs for H1FY27
Closed 26 capital market transactions of ~Rs. 83,000 crores in Q2FY27
Pipeline of transactions is very strong with 48 filed IPO transactions aggregating to ~Rs. 130,000 crores (excluding IPO transaction of Jio Platforms Limited)

Wealth Management:

Recurring AUM up 16% YoY to Rs. 37,038 crores (up 20% from March 2026)
Wealth loan book up 30% YoY to Rs. 2,558 crores
Total Recurring AUM (including loans) up 17% YoY to Rs. 39,596 crores (up 20% from March 2026)

Asset Management:

Achieved first close of Maiden Pre-IPO Fund with commitments of Rs. 700 crores
Mutual Fund Average AUM for non-liquid schemes stood at Rs. 11,243 crores for Q2FY27 compared to Rs. 12,112 crores for Q2FY26

Affordable Home Loans:

Private Markets:

Disbursements aggregating to Rs. 977 crores for Q2FY27 compared to Rs. 485 crores for Q2FY26 (Growth of 2x YoY)
Standard Loans up 22% YoY to Rs. 4,748 crores backed by strong growth in Bespoke vertical

Mr. Vishal Kampani, Vice Chairman and Managing Director, JM Financial Limited commented:

"We are excited to report another quarter of robust performance"
"Our progress on the build out of the customer franchise across all businesses is encouraging"
"We closed transactions worth Rs. 83,000 crores and the pipeline for equity and advisory transactions is extremely healthy"
"The visibility of earnings has improved with loan book growth across private markets, wealth management and affordable home loans businesses"
"Private Markets segment witnessed disbursements of almost Rs. 1,000 crores in the Bespoke vertical resulting in 22% YoY increase in standard loans"
"Recurring AUM and loans in our Wealth Management segment continues to show good traction and has grown by 17% YoY"
"We continue to focus on improving productivity in wealth management"
"We achieved the first close of our Maiden Pre-IPO fund securing commitments of Rs. 700 crores and are expecting the first close of our second performing credit fund within this financial year"
"The affordable home loans business reported strong growth in line with the guidance with 30% YoY growth in AUM and a 48% YoY growth in disbursements"

JM Financial is an integrated and diversified financial services group with four primary businesses:

1. Corporate Advisory and Capital Markets: Investment banking, institutional equities and research

2. Private Markets: Private Credit (Corporate, Bespoke, Real Estate and Distressed Credit) and Investments

3. Wealth and Asset Management: Wealth management, broking, PMS, Equity & Debt AIFs, and mutual fund business

4. Affordable Home Loans: Affordable housing finance business