JM Financial , a leading integrated financial services group, has announced ambitious growth plans for its alternatives business alongside robust financial results for the first quarter.

Expansion in Alternatives Business

JM Financial has set an aggressive target to achieve assets under management (AUM) exceeding ₹25,000 crore for its alternatives business. This strategic move underscores the company's commitment to expanding its footprint in the high-growth alternative investment sector.

Retail Mortgages and Capital Markets Growth

The company is also focusing on expanding its retail mortgages and capital markets operations. JM Financial plans to leverage its strong balance sheet and digital strategy to drive sustainable growth across these business segments.

Q1 Financial Highlights

JM Financial reported impressive financial results for Q1:

• Consolidated Profit After Tax (PAT) surged by 166% year-on-year to ₹454.00 crore.
• Net revenue increased by 22% to ₹779.00 crore.
• Pre-Provisioning Operating Profit (PPoP) grew by 22% to ₹389.00 crore.
• The company's networth crossed ₹10,000 crore, with book value per share reaching ₹106.40.

Segment Performance

Key Business Developments

• JM Financial ranked #1 in Equity Capital Markets with 10 marquee transactions in Q1.
• The company has a strong pipeline of 45 filed IPO transactions aggregating to approximately ₹100,000 crore.
• Wealth Management AUM increased by 7% YoY to ₹114,228 crore.
• Mutual Fund AUM grew by 49% YoY to ₹13,901 crore.
• Affordable Home Loans AUM rose by 29% YoY to ₹2,911 crore.

Management Commentary

Vishal Kampani, Vice Chairman and Managing Director of JM Financial Limited, stated, "We are extremely excited by the strong momentum across all our business verticals. Our performance is backed by decisive execution, be it in attracting top talent, adding marquee clients, or expanding our physical and digital presence. The transaction pipeline remains robust across businesses, reflecting our deep market engagement."

JM Financial's strategic focus on high-growth areas, coupled with its strong financial performance, positions the company well for continued success in the evolving financial services landscape.

JM Financial , a leading integrated financial services group, has reported exceptional performance for the first quarter, with significant growth in both revenue and profitability.

Financial Highlights

• Highest ever quarterly operating profit after tax of Rs 454.00 crore, representing a 166% year-on-year increase.
• Net revenue grew 22% YoY to Rs 779.00 crore.
• Pre-provisioning operating profit increased 22% YoY to Rs 389.00 crore.
• Net worth crossed Rs 10,000.00 crore with book value per share at Rs 106.40.
• The real estate loan book declined 56% YoY to Rs 2,063.00 crore.
• Borrowings reduced by Rs 4,300.00 crore over the last year.

Segment Performance

JM Financial's performance across its business segments was robust:

• Achieved #1 position in Equity Capital Markets with 10 marquee transactions.
• Wealth management Assets Under Management (AUM) grew 7% YoY to Rs 1,14,228.00 crore.
• Mutual fund AUM increased 49% YoY to Rs 13,901.00 crore.

Strategic Developments

• JM Financial increased its shareholding in JM Financial Credit Solutions to 100%, making it a wholly-owned subsidiary.
• Bajaj Allianz Life Insurance acquired a 2.1% stake in JM Financial Home Loans for Rs 65.50 crore, valuing the business at Rs 3,120.00 crore.

Outlook

JM Financial's record-breaking quarterly results and strategic moves demonstrate its ability to capitalize on market opportunities and drive growth across its diverse business portfolio. The company's focus on strengthening its core businesses while expanding into new areas positions it well for continued success.

The significant increase in operating profit, coupled with growth in key areas such as wealth management and mutual funds, suggests a positive outlook for JM Financial. However, the company will need to navigate ongoing market challenges and regulatory environments to maintain this growth trajectory.

Note: All figures are based on the consolidated financial results for the quarter as reported by JM Financial Limited.