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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,269 Cr
verified against source
Revenue YoY
7%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Nuvama delivered a resilient Q4 FY26 with revenue of ₹825 crore (+7% YoY) and operating profit crossing ₹1,000 crore for the full year. Wealth & Private contributed 55% of firm revenue (up from 49% last year), driven by 38% growth in NPS revenue and 22% net new money flows. Asset services fully recovered from Q1 client loss, posting 12% revenue growth despite rate headwinds. Management guided for continued ARR expansion, new fund launches in private credit and commercial real estate, and a mutual fund license expected within two months. Key risk: elevated geopolitical uncertainty could dampen transactional revenues and delay market recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Target first fund of ₹1,200-1,500 crore, with partial inflows expected in FY27.
- New fund target of ₹3,000-3,500 crore, with 30-40% expected to come in FY27.
- Final inspection completed; SIF launch expected 2-3 months post-license.
- New offerings to increase domestic market share in asset services.
Risks flagged
- West Asia crisis caused extreme volatility, delaying loan processing fee recognition and dampening equity market activity.
- Management warned that many new wealth platforms promise unrealistic valuations, potentially disrupting RM retention.
- Regulatory cuts effective April 1 may impact distribution income, though management downplayed the effect.
- New RBI norms on bank guarantees may increase costs by ₹10-15 crore annually, though volume growth should offset.
Key quotes
- We've seen about a 25% per RM revenue jump in this segment.
- I just want everybody to be thorough in their diligence before making any such plunge because in the last decade we've seen only two three platforms where people have actually realized value.
- If you look at the current year despite the headwinds index not doing anything, volatility in the market, yield compression, loss of big client, yet there is a near 15% profit growth.
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