360 One Wam (360ONE) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 PAT rose 18% year-over-year to INR 287 crore, with total revenue at INR 725 crore, and ARR AUM at INR 2,87,317 crore, up 29.8% year-over-year.

• Integration of BNK/B&K Securities contributed INR 18,228 crore in net flows, expanded corporate treasury access, and leadership joined the board.

• Strategic initiatives included regulatory approvals for UBS collaboration, ongoing technology and business expansion, and ESOS 2025 launch.

• Board approved unaudited results, new director appointments, and amendments to the Code of Fair Disclosure.

• Recognized as a Great Place to Work 2025 and received multiple industry awards, including Best Private Bank - India.

Financial highlights

• ARR revenue grew 35.9% year-over-year to INR 511 crore; total revenue for Q1FY26 was INR 725 crore, with total costs up 32.7% year-over-year to INR 351 crore.

• Operating PBT at INR 311 crore; PBT at INR 374 crore, up 18.6% year-over-year.

• Highest ever quarterly PAT at INR 287 crore, up 18% year-over-year; tangible ROE at 19.6%.

• Cost-to-income ratio improved to 48.4% from 50.7% in Q4FY25.

• Net profit margin improved to 53% from 15% year-over-year.

Outlook and guidance

• Net flows guidance for FY26 remains at 12–15% of net opening AUM, targeting INR 20,000–25,000 crore for wealth management and INR 9,000–12,000 crore for asset management.

• Expectation of gradual improvement in cost-to-income ratio as synergies from acquisitions and new hires materialize.

• Yield compression of 2–3 basis points anticipated over the next 2–3 years due to business mix shifts, but headline yields expected to remain stable.

• Strategic consolidation and recent acquisitions set the stage for sustained growth and deeper client engagement.

• No reduction in equity share capital for two years from July 17, 2025.