360 ONE WAM542772Earnings call transcript

Q2 FY27 call: total AUM ₹9 lakh crores, ARR AUM up 19.7%, second interim dividend of 7.5 per share

Transcript of the Q2 FY27 earnings call (quarter and half year ended September 30, 2026).

By ScoutQuest · Wed 21 Oct 2026, 7:22 PM IST · 2 min read

Total AUM: about ₹9 lakh crores, up 31% year-on-year
Revenue from operations: ₹896 crores, up 17.5%
PAT: ₹302 crores, against ₹316 crores in Q2 FY26

Earnings call transcript: what management said

The update is the transcript of the Q2 FY27 earnings call held on October 15, 2026, to discuss performance for the quarter and half year ended September 30, 2026.

Business scale

Total AUM stood at about ₹9 lakh crores, up 31% year-on-year.
ARR AUM (assets that earn recurring fees) stood at ₹3,53,000 crores, up 19.7% year-on-year.
ARR net flows were ₹12,482 crores in the quarter, compared to ₹10,815 crores in Q1.
Clients with more than ₹10 crores of AUM are over ₹4,100 and account for 95% of ex-custody wealth AUM.

Financials

Revenue from operations was ₹896 crores, up 17.5% year-on-year. ARR revenue grew 27.5% to ₹706 crores and now contributes 79% of operating revenues.
Transaction and brokerage income was ₹190 crores, down 9.1% year-on-year.
Other income was negative ₹44 crores, mainly mark-to-market impact on treasury investments; total revenue was therefore ₹853 crores, up 4.8% year-on-year.
Total costs were ₹462 crores, up 15.5%. Employee costs of ₹342 crores include a one-time impact of about ₹9 crores from restructuring of one business.
Operating PBT grew 19.7% to ₹434 crores. PBT was ₹391 crores and PAT was ₹302 crores, against ₹316 crores in Q2 FY26.
Tangible ROE stood at 16.9%.
The board approved a second interim dividend of 7.5 per share.

Segment highlights

Wealth: ARR AUM ₹2,52,627 crores, up 24.3%; net flows ₹10,990 crores; ARR revenue ₹503 crores, up 40.5%; operating PBT ₹326 crores, up 30.2%. The 360 ONE Plus advisory platform crossed ₹1 lakh crores.
HNI business manages over ₹8,000 crores for over 1,500 clients with about 60 relationship managers.
ET Money has a base of 5.5 lakh plus active users; its distribution segment clocked ARR AUM of over ₹700 crores over the last nine months.
Asset management: ARR AUM a little over ₹100,000 crores, up 9.4%; net flows improved to ₹1,492 crores; ARR revenue ₹203 crores; operating PBT ₹108 crores.
Alternates: AIF AUM grew 27.9% to ₹58,139 crores. Dyna-SIF AUM crossed ₹1,000 crores and the company won its first European institutional mandate.

Guidance and outlook

The cost to operating income ratio improved to 51.5% in the quarter; management said it is well on course for 100 - 150 basis points of improvement over the last year.
The HNI business is expected to break even on direct costs soon.
Priorities: add new clients and raise RM productivity in wealth; sharpen the alternates offering, expand institutional reach and build the SIF platform in asset management; convert the ECM pipeline in 360 ONE capital.
COMPASS, the company's internal AI layer, is live across wealth, asset management and enterprise functions.

One point from the Q&A

On the negative other income, management said the fair value change on account of NSE is close to about ₹110 - 120 crores, largely invested through the company's funds.

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