360 One Wam Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Growth

Q3 FY26PAT target of ₹1,800-2,100 crore by FY28Tracked

Management expects to achieve PAT of ₹1,800-2,100 crore in three years (by FY28), implying a 22-24% CAGR from the ₹1,000 crore base in FY25.

Q3 FY26AUM growth of 22-24% per annumTracked

Management expects to grow AUM by 22-24% annually, with net flows of 10-12% of opening AUM and 9-10% market appreciation.

Q4 FY26Wealth AUM growth of 20-25% annuallyTracked

Management expects wealth management AUM to grow 20-25% per year, driven by 12-15% opening AUM net flows and 10-14% market-to-market gains.

Q4 FY26Wealth PAT growth of 15-25%Tracked

Wealth management profit after tax is expected to grow 15-25% annually over the next 3-4 years.

Margins

Q3 FY26Cost-to-income ratio improvement to 45-46% next yearActive

Management targets reducing cost-to-income ratio from 48.3% to 45-46% in FY27, driven by breakeven of HNI and ET Money businesses and productivity gains.

Q4 FY26Cost-to-income ratio improvement to 46-48%Tracked

Overall cost-to-income ratio, currently ~50%, is targeted to improve to 46-48% over the next 2-3 years through operational leverage.

Other

Q3 FY26HNI business to break even in 3-6 monthsActive

The HNI (Reserve) business, currently at ₹3,000+ crore AUM, is expected to reach breakeven within the next 3-6 months.

Revenue

Q4 FY26Quarterly TBR run-rate of ₹160-180 croreActive

Management revised the sustainable quarterly transaction brokerage revenue run-rate from ₹125-130 crore to ₹160-180 crore, with potential to reach ₹200 crore.