Nuvama Wealth Q3 Results Review - Centrum Broking Maintains 'Buy' On The Stock, Hikes Target Price— Here's Why

Nuvama Wealth’s net profit is expected to clock 27% CAGR over FY24-27, driven by a 21% CAGR in AUM..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Centrum Broking Report.Nuvama Wealth Management Ltd.’s PAT number of Rs 2.5 billion for Q3 FY25 was up 43% YoY and in line with our estimate. The overall AUM growth was robust at Rs 4.5 trillion and ahead of our estimate. The Asset Clearing business posted strong growth and the IB/IE business too was decent; it witnessed strong growth with market share maintained. The Wealth businesses saw fresh hiring of relationship managers. The C/I ratio continued to remain lower than expectation. We have increased our net profit estimates by 4-6% over FY25-27, baking in a strong Q3. We roll over the valuation basis to FY27E EPS. Factoring in the revised estimates, we now derive a revised target price of Rs 8,615 (versus Rs 7,765) based on an unchanged valuation multiple of 25 times. Maintain Buy. Key risks: slowdown in AUM growth and attrition (TL and client), etc..Click on the attachment to read the full report:.Sundaram Finance Q3 Results Review: Inline; Market Share Gain Drive Growth — Systematix Maintains 'Hold'.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Nuvama Wealth Q3 Results Review - Centrum Broking Maintains 'Buy' On The Stock, Hikes Target Price— Here's Why

Nuvama Wealth’s overall AUM grew 36% YoY (+2% QoQ) to Rs 4.5 trillion in Q3 FY25, adds the brokerage.

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