Motilal Oswal Financial Services Limited has released the complete transcript of its Q3FY26 earnings conference call held on January 28, 2026, providing comprehensive insights into the company's strong financial performance and strategic outlook. The transcript was made available on February 3, 2026, following the company's earlier audio recording release.

Strong Q3FY26 Financial Performance

The company delivered robust results for Q3FY26, with operating profit after tax growing 16% year-on-year to ₹611 crores. The growth was primarily driven by Asset and Private Wealth businesses, which expanded 32% YoY and now contribute over 50% to the group's operating profit.

Business Segment Highlights

Asset Management Excellence

The Asset Management business demonstrated strong momentum with net flows reaching ₹11,600 crores in Q3FY26. Assets Under Management (AUM) stood at ₹1.89 lakh crores as of December 31, 2025, marking a 33% YoY growth. The company's mutual fund AUM market share reached an all-time high of 2.7%, while maintaining superior performance with 91% of AUM outperforming respective benchmarks over three years.

Private Wealth Management Growth

The Private Wealth Management division continued its expansion trajectory with AUM growing 31% YoY to ₹1.95 lakh crores. The business now serves over 8,200 families, representing 41% YoY growth, supported by a relationship manager team of 410+ professionals.

Wealth Management Resilience

Despite market challenges, the Wealth Management business maintained stability with PAT at ₹181 crores. The distribution book expanded 34% YoY to ₹42,775 crores, while the Annual Recurring Revenue (ARR) book grew 33% YoY, reducing dependency on transaction-based revenues.

Strategic Developments and Outlook

Alternates Business Expansion

The company's Indian Business Excellence Fund (IBEF) V has cumulatively raised approximately ₹8,000 crores, targeting a final close of ₹8,350 crores in Q4FY26. This represents nearly double the previous fundraise, continuing the pattern of doubling fund sizes across five series over 17 years.

New Product Launches

The company launched its private credit fund in January 2026, marking entry into the emerging private credit segment. This addition strengthens the group's recurring revenue base and provides new distribution opportunities for both Wealth and Private Wealth Management businesses.

Management Commentary and Future Vision

Group Managing Director Navin Agarwal highlighted the company's positioning for multi-decadal growth opportunities, citing India's transition from $1 trillion to $4 trillion GDP over the past 17 years. The management expects the next 17 years to quadruple GDP to $16 trillion with cumulative savings of $47 trillion.

Regulatory Compliance and Access

The transcript disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The complete document is accessible at www.motilaloswalgroup.com , with the company confirming no Unpublished Price Sensitive Information was shared during the call.

Source: Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services has announced the grant of 4,37,063 employee stock options to eligible employees under its Employee Stock Option Scheme-X. The grant was approved during a meeting of the company's Nomination and Remuneration Committee held on January 27, 2026.

ESOP Grant Details

The stock options were allocated under the Motilal Oswal Financial Services Limited - Employee Stock Option Scheme - X, demonstrating the company's ongoing commitment to employee incentivization through equity participation.

Regulatory Compliance

The company has formally communicated this development to both major stock exchanges where its shares are listed. The notification was sent to BSE Limited, where the company trades under security code 532892, and to the National Stock Exchange of India Limited, where it is listed under the symbol MOTILALOFS.

Corporate Governance

The ESOP grant was executed under proper corporate governance protocols, with Company Secretary and Compliance Officer Kailash Purohit signing the official communication to the exchanges. The decision reflects the board's strategic approach to talent retention and employee motivation through equity-based compensation.

About the Company

Motilal Oswal Financial Services Limited operates as a comprehensive financial services provider with multiple regulatory registrations including SEBI registration number INZ000158836 and memberships across major exchanges including NSE, BSE, MCX, and NCDEX. The company maintains its corporate headquarters at Motilal Oswal Tower in Prabhadevi, Mumbai.