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

Executive summary

• Achieved record quarterly operating PAT of ₹611 crore in Q3FY26, up 16% year-over-year, led by 32% growth in Asset & Private Wealth Management, which now contribute over 50% of group operating profit.

• Total PAT (including treasury and OCI) reached ₹721 crore, up 58% year-over-year, with treasury investments PAT rebounding to ₹110 crore.

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

• Maintained leadership in capital markets, wealth management, and asset management, supported by robust digital and tech infrastructure.

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

Financial highlights

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

• Asset management AUM reached ₹1.89 lakh crore as of December 31, up 33% year-over-year.

• Private wealth AUM grew 31% to ₹1.96 lakh crore, serving over 8,200 families, up 41% year-over-year.

• Capital markets business PAT grew 15% year-over-year to ₹70 crore in Q3FY26; ranked #1 in IPOs and QIPs in CY25.

• Housing finance AUM grew 24% year-over-year to ₹5,379 crore; Q3FY26 PAT at ₹40 crore, up 11% year-over-year; GNPA at 1.4%.

Outlook and guidance

• Management optimistic on future growth, citing strong segment momentum, new private credit fund launches, and favorable industry tailwinds.

• Focus on increasing recurring revenue share, maintaining high ROE, and sustaining dividend payouts.

• NII and carry income from alternates identified as key growth drivers for FY27, with further growth as more funds mature.

• Positioned to benefit from India’s financialization, rising market cap, and robust economic growth.