NPS Revenue (Wealth)
₹150 crore
+38% YoY
Quarterly NPS revenue now equals total quarterly revenue of the business 2-3 years ago.
NUVAMAWEALTHMANAGEMENT
Financial Services
28 Apr 2026
Nuvama Wealth Management Ltd — Q4 FY26
Nuvama delivered a resilient Q4 FY26 with revenue of ₹825 crore (+7% YoY) and operating profit crossing ₹1,000 crore for the full year.
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Net New Money (Wealth)
₹8,900 crore
+30% of opening NPS
Net flows represent 30% of opening NPS assets, above the guided 25-30% range.
AR Assets (Private)
₹54,000 crore
+22% YoY
AR assets now contribute 60% of private revenue, with yields stable at 85-100 bps.
Loan Book (Wealth)
₹4,900 crore
+27% YoY
Loan book growth driven by increased focus; NII contribution at 20-22% of revenue.
Management Guidance
Private Credit Fund Launch by Q2 FY27
Target first fund of ₹1,200-1,500 crore, with partial inflows expected in FY27.
Management guidance expansionCommercial Real Estate Fund Launch in H2 FY27
New fund target of ₹3,000-3,500 crore, with 30-40% expected to come in FY27.
Management guidance expansionMutual Fund License Expected in 2 Months
Final inspection completed; SIF launch expected 2-3 months post-license.
Management guidance expansionRTA & Trusteeship Services Go-Live by Mid-Q3 FY27
New offerings to increase domestic market share in asset services.
Management guidance growthKey Risks
Geopolitical Uncertainty Impacting Transactional Revenues
West Asia crisis caused extreme volatility, delaying loan processing fee recognition and dampening equity market activity.
medium · management_commentaryNew Entrants Poaching RMs with Lofty Valuations
Management warned that many new wealth platforms promise unrealistic valuations, potentially disrupting RM retention.
medium · management_commentaryMutual Fund Commission Cuts Could Pressure Yields
Regulatory cuts effective April 1 may impact distribution income, though management downplayed the effect.
low · analyst_questionBank Guarantee Norms Impact on Asset Services
New RBI norms on bank guarantees may increase costs by ₹10-15 crore annually, though volume growth should offset.
low · analyst_questionNotable 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.
Frequently Asked Questions
What was Nuvama Wealth Management's revenue in Q4 FY26?
Nuvama Wealth Management reported revenue of ₹1,269 Cr in Q4 FY26, representing a +7% change compared to the same quarter last year.
What guidance did Nuvama Wealth Management management give for FY27?
Private Credit Fund Launch by Q2 FY27: Target first fund of ₹1,200-1,500 crore, with partial inflows expected in FY27. Commercial Real Estate Fund Launch in H2 FY27: New fund target of ₹3,000-3,500 crore, with 30-40% expected to come in FY27. Mutual Fund License Expected in 2 Months: Final inspection completed; SIF launch expected 2-3 months post-license. RTA & Trusteeship Services Go-Live by Mid-Q3 FY27: New offerings to increase domestic market share in asset services.
What are the key risks for Nuvama Wealth Management in FY27?
Key risks include Geopolitical Uncertainty Impacting Transactional Revenues — West Asia crisis caused extreme volatility, delaying loan processing fee recognition and dampening equity market activity.; New Entrants Poaching RMs with Lofty Valuations — Management warned that many new wealth platforms promise unrealistic valuations, potentially disrupting RM retention.; Mutual Fund Commission Cuts Could Pressure Yields — Regulatory cuts effective April 1 may impact distribution income, though management downplayed the effect.; Bank Guarantee Norms Impact on Asset Services — New RBI norms on bank guarantees may increase costs by ₹10-15 crore annually, though volume growth should offset..
Did Nuvama Wealth Management meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Nuvama Wealth Management Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.