Cost-to-Income Ratio: 150bps improvement to 49-49.5% by Q4 FY27
Driven by HNI break-even, ET Money profitability, operating leverage from alternates and wealth businesses. Full year improvement of ~150bps from current 51.3%.
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360 ONE WAM · forward-looking guidance across the available source record.
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RAR Net Flows: Rs35,000-40,000 Cr for FY27 (12-15% of opening RAR AUM)
Split expected 70:30 or 75:25 wealth to asset management. Multiple product launches planned for next 6-9 months to balance flows between businesses.
HNI Business: Break-even by FY27 end; ET Money: Break-even by Q4 FY27
HNI already at 5,100-5,200 Cr AUM with ~Rs7-8 Cr trail revenue recognition starting. ET Money run-rate quarterly loss of Rs3.5-4 Cr (excluding exit costs) narrowing to break-even.
UBS Collaboration Target: $500-600M AUM exchange
First funds expected to launch in coming quarter (cross-listing of 360 ONE and UBS funds in respective markets). Cross-referrals for NRI, resident and global mandates showing early traction.
PAT target of ₹1,800-2,100 crore by FY28
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.
Cost-to-income ratio improvement to 45-46% next year
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.
AUM growth of 22-24% per annum
Management expects to grow AUM by 22-24% annually, with net flows of 10-12% of opening AUM and 9-10% market appreciation.
HNI business to break even in 3-6 months
The HNI (Reserve) business, currently at ₹3,000+ crore AUM, is expected to reach breakeven within the next 3-6 months.