Q3 2026 JM Financial Ltd Earnings Call Transcript
Key Points
- Consolidated profit after tax increased by 50% year-on-year to INR313 crore, indicating strong financial performance.
- Fees and commission income grew by 32% year-on-year, reflecting a positive environment for dealmaking and wealth management.
- The affordable housing business saw a 23% year-on-year growth in AUM, with a customer base exceeding 30,000.
- The company received approval for two alternative funds, a real estate fund and a pre-IPO fund, which are expected to contribute to AUM growth.
- The wealth management business expanded its sales and relationship manager strength by 41% year-on-year, enhancing distribution capabilities.
- The wealth and asset management segment's profitability was impacted by increased investments in talent and infrastructure.
- The real estate loan book contracted by 90%, reducing from INR10,000 crore to INR1,000 crore, affecting income from this segment.
- The operating profit after tax for the wealth management segment decreased due to lower transactional revenue and market volatility.
- The mutual fund business reported a loss after minority interest for the quarter, indicating challenges in achieving profitability.
- The cash and cash equivalents decreased significantly from INR5,800 crore to INR3,200 crore, primarily due to the purchase of a minority stake in JM Financial Credit Solutions.
Ladies and gentlemen, good afternoon, and welcome to the earnings conference call for JM Financial Limited. (Operator Instructions)
Kindly note that any forward-looking statements made on this call are based on the management's current expectations. However, the actual results may vary significantly, and therefore, the accuracy and completeness of this expectation cannot be guaranteed. Please note that this conference is being recorded.
I now hand the conference over to Mr. Vishal Kampani. Thank you, and over to you, sir.
Thank you. A warm welcome to all of you to discuss our earnings and financial results for the quarter and nine months ended December '25. We have uploaded our results presentation and press release both on the website and stock exchange. I hope you guys have had a chance to go through that. On the call, we also have Sonia, Chirag, Manish and Amitabh and Nishit.
Most of you all are familiar with our management team that comes on the call
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