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Talent attrition in wealth management
View Risks →360 ONE WAM LIMITED — Q3 FY26
360 ONE WAM delivered a strong Q3 FY26 with total revenue of ₹826 crore (+21.8% YoY) and highest-ever quarterly PAT of ₹331 crore (+20.3% YoY).
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360 ONE WAM delivered a strong Q3 FY26 with total revenue of ₹826 crore (+21.8% YoY) and highest-ever quarterly PAT of ₹331 crore (+20.3% YoY). Total AR AUM grew 28% YoY to ₹3,17,896 crore, driven by robust net flows of ₹14,758 crore in the quarter. The wealth management business saw strong organic flows, while asset management benefited from diversified fund launches across real assets, private credit, and listed strategies. Management guided for 22-24% AUM growth and 20-24% PAT CAGR over the next three years, targeting PAT of ₹1,800-2,100 crore by FY28. Cost-to-income ratio is expected to improve from 48.3% to 45-46% next year as new businesses scale. Key risks include potential market volatility impacting flows and talent attrition in a competitive environment.
360 ONE WAM ने तीसरी तिमाही में शानदार प्रदर्शन किया। कुल कमाई ₹826 करोड़ रही, जो पिछले साल से 21.8% ज्यादा है। सबसे बड़ी बात, कंपनी का मुनाफा (PAT) ₹331 करोड़ रहा, जो 20.3% बढ़ा है। कंपनी के पास कुल प्रबंधन के तहत संपत्ति (AUM) ₹3,17,896 करोड़ हो गई, जो 28% ज्यादा है। इस तिमाही में ₹14,758 करोड़ का नया पैसा आया। धन प्रबंधन कारोबार मजबूत रहा, और एसेट मैनेजमेंट ने रियल एसेट, प्राइवेट कर्ज और शेयर बाजार में नए फंड लॉन्च किए। कंपनी का लक्ष्य अगले तीन साल में AUM को 22-24% और मुनाफे को 20-24% सालाना बढ़ाना है। FY28 तक मुनाफा ₹1,800-2,100 करोड़ तक पहुंचाने की योजना है। खर्च-आय अनुपात 48.3% से घटाकर 45-46% करने की उम्मीद है। जोखिम: बाजार में उतार-चढ़ाव और प्रतिभा का जाना।
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Total AR AUM
₹3,17,896 crore
+28% YoY
Total advisory and asset management AUM grew 28% year-on-year, driven by strong net flows and market appreciation.
Net Flows (Q3)
₹14,758 crore
+46,890 crore 9M FY26
Quarterly net flows were robust, with 9-month total reaching ₹46,890 crore, reflecting strong client additions and wallet share gains.
ARR Retention
81 bps
+6 bps YoY (incl. carry)
Annualized recurring revenue retention improved to 81 bps, aided by incremental carry income of ~6 bps during the quarter.
Cost-to-Income Ratio
48.3%
-170 bps QoQ
Cost-to-income ratio improved sequentially to 48.3%, with management targeting 45-46% for next year through operating leverage.
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Guidance and risk preview
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.
The company experienced attrition of 22-23 relationship managers in key locations, though new hires have offset the losses.
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