Motilal Oswal Financial Services (MOTILALOFS) Q3 25/26 earnings summary

Executive summary

• Achieved record Q3FY26 operating PAT of ₹611 crore, up 16% YoY, led by Asset & Private Wealth Management and Capital Markets; total PAT (including treasury & OCI) at ₹721 crore, up 58% YoY.

• Asset and private wealth businesses contributed over 50% of group operating profit in Q3FY26.

• Total client base surpassed 15.3 million, with assets under advice crossing ₹7 lakh crore.

• Interim dividend of ₹6 per share declared, up 20% from previous year.

• Raised ₹300 crore via private placement of NCDs, fully utilized as per offer documents.

Financial highlights

• Consolidated net revenue for Q3FY26 at ₹1,497 crore, up 11% YoY; 9MFY26 net revenue at ₹4,385 crore, up 14% YoY.

• Asset management AUM reached ₹1.89 lakh crore, up 33% YoY; net flows in Q3 at ₹11,600 crore.

• Private wealth AUM grew 31% to ₹1.96 lakh crore; 8,200+ families served, up 41% YoY.

• Wealth management segment PAT at ₹181 crore in Q3FY26; distribution book up 34% to ₹42,800 crore.

• Housing finance AUM up 24% YoY to ₹5,379 crore; Q3FY26 PAT at ₹40 crore, up 11% YoY.

Outlook and guidance

• Management optimistic on future growth, driven by strong segment momentum, ARR revenue share, and favorable industry tailwinds.

• Private credit fund launches in Q4 and Jan 2026 expected to boost distribution income and net flows.

• Lending book, NII, and prudent capital allocation identified as key growth drivers for FY27.

• Accrual (carry) income from alternates expected to repeat or increase as more funds mature.

• Focus on maintaining high ROE and sustaining dividend payouts.