Prudent Corporate Advisory Services Hosts Q3FY26 Earnings Call on January 28, 2026
Prudent Corporate Advisory Services conducted its Q3FY26 earnings conference call on January 28, 2026, highlighting strong AUM growth momentum with quarterly average AUM of ₹127,600 crores and successful integration of Indus Capital acquisition. The management discussed SEBI TER regulation changes, robust SIP performance with market share expansion to 3.5%, and strategic outlook for continued growth in financial services distribution.

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Prudent Corporate Advisory Services Limited conducted its Q3FY26 earnings conference call on January 28, 2026, hosted by ICICI Securities Limited. The management team, led by Chairman and Managing Director Sanjay Shah and CEO Shirish Patel, discussed the company's strong quarterly performance and strategic outlook with analysts and investors.
AUM Growth Momentum and Market Performance
The company demonstrated robust AUM growth momentum during Q3FY26, with quarterly average AUM reaching ₹127,600 crores. The management highlighted strong resilience in business fundamentals despite market volatility, with equity net sales crossing ₹1,200 crores in January 2026.
| AUM Metrics: | Q3FY26 | Growth |
|---|---|---|
| Quarterly Average AUM: | ₹127,600 crores | +21% YoY, +7.2% QoQ |
| Equity AUM (Dec 2025): | ₹125,700 crores | +22.4% YoY, +6.9% QoQ |
| Daily Average AUM (9M): | ₹119,000 crores | +9.2% sequential |
| Current AUM: | ₹126,000 crores | Market correction impact |
SIP Performance and Market Share Expansion
The company's SIP book showed consistent growth, reaching ₹1,135 crores as of December 2025 and further expanding to ₹1,170 crores currently. Market share in SIP flows improved by 20 basis points year-on-year to 3.5%, with management targeting ₹1,200 crores monthly SIP flows by March 2026.
| SIP Metrics: | Current Status | Target |
|---|---|---|
| Monthly SIP Book: | ₹1,170 crores | ₹1,200 crores by Mar 2026 |
| Market Share: | 3.5% | Continued expansion |
| Annual Addition: | ₹200 crores | Sustained growth |
Indus Capital Acquisition Integration
Management provided positive updates on the Indus Capital acquisition integration, completed on October 1, 2025. The acquisition has proven highly cash accretive, contributing ₹571.97 crores in commission income during Q3FY26. The integration involves 15 experienced relationship managers under seasoned leadership, with client meetings showing significant comfort regarding the transition.
SEBI TER Changes and Strategic Impact
The management discussed recent SEBI changes to Total Expense Ratio (TER) regulations, effective April 2026. Key changes include TER calculations becoming exclusive of GST and removal of 5 basis points exit load benefit. While revenue neutral for GST-registered distributors, the changes create a level playing field and strategic advantages for attracting smaller distributors to the Prudent platform.
| TER Impact Areas: | Details |
|---|---|
| GST Treatment: | TER exclusive of GST from April 2026 |
| Exit Load Benefit: | 5 basis points benefit removed |
| Competitive Advantage: | Level playing field for GST vs non-GST distributors |
| Revenue Impact: | Expected to be largely neutral |
Insurance Business and Product Diversification
The insurance segment showed mixed performance with premium growth of 13% sequentially, though revenue growth moderated to 3.6% due to GST-related rate rationalization in health insurance. Life insurance impact was contained to less than 10% through successful renegotiation with manufacturers.
Strategic Outlook and Capital Deployment
With a treasury corpus of ₹537 crores, the company remains well-positioned for strategic acquisitions similar to Indus Capital. Management expressed confidence in identifying quality distribution assets with experienced teams, leveraging their successful integration experience for future growth opportunities.
Operational Highlights
The company reported record-breaking performance across multiple metrics in January 2026, including highest-ever net sales, SIP registrations, and health insurance business. Employee strength stood at 1,539 as of December 31, 2025, supporting the expanded operations post-acquisition.
Source: Earnings conference call transcript dated January 28, 2026
Historical Stock Returns for Prudent Corporate Advisory Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.33% | -4.61% | +11.61% | -7.54% | +30.79% | +366.77% |


































