The document is a regulatory filing containing the transcript of an earnings conference call held on July 31, 2026, to discuss the company's performance for the quarter ended June 30, 2026 (Q1 FY27).
The event was an earnings conference call scheduled after the results announcement, with the primary purpose of discussing quarterly financial results and business updates.
The call was hosted by management participants including Mr. Ashish Kehair (Managing Director and Chief Executive Officer), Mr. Bharat Kalsi (Group Chief Financial Officer), and an Investor Relations Advisor from SGA.
The company confirmed that the transcript of the call was made available on its website www.nuvama.com and explicitly stated that no unpublished price sensitive information (UPSI) was shared or discussed during the call.
Financial and Business Highlights Discussed (as per transcript):
Record Financial Performance: Q1 FY27 PAT reached an all-time high of INR306 crores (16% YoY growth). Quarterly revenue crossed INR900 crores for the first time. ROE remained near 30%.
Wealth Management (MPIS): Assets grew 32% YoY to INR42,500 crores. Net new money inflows were INR3,000 crores for the quarter. Revenue from MPIS grew 20% YoY.
Nuvama Private: ARR (Advisory Recurring Revenue) assets grew 21% YoY to INR58,000 crores. Net new money into managed accounts was INR1,800 crores. The business added 6-8 net new Relationship Managers (RMs) in the quarter.
Lending Book: Crossed INR5,000 crores, with NII growth of 12% QoQ. Lending contributes 20-22% of wealth business revenues.
Offshore Business: Operations in Dubai and Singapore; Dubai is breakeven, Singapore expected to breakeven by end of FY27. Offshore revenue contribution is 5-7%.
Asset Management:
Commercial Real Estate: Successfully closed the PRIME Offices Fund at INR4,000 crores (target was INR3,000 crores). 40% deployed across assets in Chennai, Delhi, Pune.
Private Equity: Returned 30% of capital from first fund and 15% from second fund. Raising Crossover 4 fund with INR300-350 crores done, targeting INR700-1,000 crores.
Private Credit: Team build-out in progress; first fund launch expected in Q3 FY27.
Public Markets: Received SEBI Mutual Fund license; applied for SIF license. Business is currently at a quarterly cost run rate of INR30-33 crores, expected to peak at INR35-36 crores.
Asset Services: Revenue grew 34% YoY to INR260 crores. Average client assets returned to Q1 FY26 levels. Full-year revenue growth guidance of 20-25% provided.
Capital Markets: Total revenue flat YoY at ~INR180 crores. Fixed income activities were strong, contributing significantly to investment banking revenues. ECM activity was weak with only 8 IPOs in Q1.
Costs: Employee costs increased 17% YoY due to 5% net capacity addition and seniorization of RMs. Opex increased 24% YoY but decreased 4% QoQ. Full-year opex growth expected at 15-16%. Cost-to-income ratio is 55%.
ESOP/ESAR: Detailed explanation provided on Stock Appreciation Rights (ESARs) plan, highlighting lower dilution compared to traditional ESOPs. Cost estimated at 20% of grant value over 5 years.
Additional Notes Section
The document was a regulatory filing submitted to BSE and NSE, enclosing the transcript of the earnings call as an attachment.
The transcript itself contained extensive financial data and management commentary, as summarized above.
The filing was signed by Sneha Patwardhan, Company Secretary and Compliance Officer, on August 5, 2026.
