360 ONE WAM Limited: Q3 FY26 Performance Highlights Robust Growth and Strategic Expansion

360 ONE WAM Limited, a prominent player in India's wealth and alternate asset management sector, has announced its financial results for the third quarter of fiscal year 2026, ending December 31, 2025. The company delivered a strong performance, marked by significant growth in assets under management (AUM) and profitability, alongside key strategic advancements.

For Q3 FY26, the company reported a total revenue of Rs 826 crore, reflecting a substantial 21.8% year-on-year (YoY) increase. Profit After Tax (PAT) reached a record Rs 331 crore, demonstrating a robust 20.3% YoY growth. This impressive financial performance underscores the company's continued strengthening of its growth trajectory, driven by effective execution across its core businesses and strategic initiatives. The overall Assets Under Management (AUM) stood at Rs 7,11,398 crore as of December 2025, with Annual Recurring Revenue (ARR) AUM contributing Rs 3,17,906 crore, marking a 28.2% YoY increase.

Segmental Performance and Revenue Mix

The company's revenue streams are primarily categorized into Annual Recurring Revenue, Transactional / Brokerage Income, and Other Income. The Annual Recurring Revenue segment was a significant contributor, accounting for 74.94% of the total revenue with Rs 619 crore. Transactional / Brokerage Income contributed 22.52% (Rs 186 crore), while Other Income made up 2.42% (Rs 20 crore). This mix highlights a strong reliance on recurring revenue, which provides stability and predictability to earnings.

Financial Summary Table (Q3 FY26)

Wealth Management and Asset Management segments were key drivers of this growth. Wealth Management's ARR AUM rose to Rs 2,18,957 crore (+34.5% YoY), supported by robust growth across its 360 ONE Plus proposition, Distribution, and Lending businesses. Asset Management's ARR AUM increased to Rs 98,949 crore (+16.1% YoY), primarily fueled by growth in Private Equity (+16.0% YoY), Real Assets (+72.1% YoY), and customized multi-asset (+59.8% YoY) segments. The combined ARR retention improved to 81 basis points, up from 70 basis points in Q3 FY25, indicating enhanced client stickiness and effective asset management.

Strategic Initiatives and Future Outlook

360 ONE WAM Limited is actively pursuing several strategic initiatives to solidify its market position and drive future growth. A significant development is the exclusive strategic collaboration with UBS AG, aimed at strengthening the wealth management proposition and fostering synergies across business lines. This partnership has already shown encouraging early traction in cross-border client referrals.

Furthermore, the company completed the acquisition of B&K Securities, which has been rebranded as 360 ONE Capital. This integration is set to expand the company's capital markets footprint, reinforcing its comprehensive financial services platform. Management anticipates the first benefits of this merger to materialize in the equity brokerage segment over the next 12 months, with banking synergies following.

In the HNI segment, the company is expanding its reach to clients in the INR 10-50 crore category, with a growing team of Relationship Managers across 12 locations. This segment has already seen substantial growth, with AUM increasing from Rs 400-500 crore to over Rs 3,000 crore. The ET Money platform is also undergoing a transition to become a comprehensive wealth platform for the affluent segment, with monetization embedded at every stage. While the exact monetization model is still being refined, brand recall and engagement remain at historic highs.

The company is also strengthening its presence in GIFT City through differentiated strategies, aiming to attract global institutions and family offices interested in accessing India's markets. Management emphasized the importance of technology, with ongoing investments in AI-powered pilots to enhance efficiency and decision-making across internal operations and client-facing innovations.

Management Commentary and Guidance

Management expressed confidence in sustaining the growth momentum, projecting a 22-24% AUM growth, 16-18% revenue growth, and 22-24% profit growth over the next three years (April 2025 to April 2028). They also aim to improve the cost-to-income ratio to 45-46% next year, driven by productivity gains in core businesses and breakeven in newer segments. The aspiration is to achieve mid-20s in ROE on an ex-intangible basis and late teen numbers including goodwill assets. The company plans to maintain a dividend payout ratio of 45-70% of profits, excluding capital reinvested in Alternates and NBFC businesses.

Despite some challenges, such as attrition-related outflows in H1 and a sharp retention drop in discretionary PMS in Q3, management acknowledged these issues transparently and outlined corrective measures. The ongoing Income Tax Department search in March 2025, while not expected to result in adjustments, remains an area of uncertainty. However, the overall tone of the commentary was balanced, highlighting strengths while addressing areas for improvement.

360 ONE WAM Limited's Q3 FY26 results demonstrate a company in a phase of strategic clarity and sustained growth. With robust financial performance, a diversified business model, and a clear focus on strategic initiatives and operational efficiency, the company appears well-positioned to capitalize on India's growing wealth and asset management landscape, reinforcing investor trust and delivering enduring value for stakeholders.