Nuvama’s Board of Directors has approved the appointment of Keyur Ajmera as Group Chief Risk Officer, succeeding Venkataraman Ananthakrishnan. They also authorized an investment of up to ₹100 crore in Nuvama Asset Management Limited (NAML). The board is evaluating strategies for value discovery, including exploring optimal organization of business segments, with relevant disclosures to follow.
Leadership Changes
Keyur Ajmera has been appointed as the new Group Chief Risk Officer, effective February 1, 2026. He replaces Venkataraman Ananthakrishnan, who will transition to a new senior leadership role within the Nuvama Group. Ananthakrishnan will cease to be a Senior Management Personnel (SMP), and Ajmera will be designated as SMP.
Investment in Nuvama Asset Management
The Board has approved an investment of up to ₹100 crore in one or more tranches, via subscription to equity shares of Nuvama Asset Management Limited (NAML), a wholly-owned subsidiary of the company. This investment aims to bolster NAML’s operations and growth.
Strategic Business Review
Nuvama is undertaking an evaluation of various strategies to enhance value for all shareholders. This includes a preliminary exploration of how to best organize its business segments. Further details and disclosures will be provided by the company as developments occur.
Financial Performance Highlights (Q3 FY26)
Nuvama Wealth Management Limited reported consolidated revenue from operations of ₹1,104.19 crore for Q3 FY26, compared to ₹1,034.35 crore for Q3 FY25. The profit before tax stood at ₹339.98 crore for Q3 FY26, as against ₹334.08 crore for Q3 FY25. The company’s consolidated net profit for the quarter was ₹253.62 crore.
Nine-Month Financial Summary
For the nine months ended December 31, 2025, Nuvama reported consolidated revenue from operations of ₹3,361.55 crore and a net profit of ₹771.47 crore. The company’s Earnings Per Share (EPS) stood at ₹42.79 (basic).
Segment-Wise Performance
Wealth Management Business reported revenue of ₹696.89 crore in Q3 FY26. Capital Markets Business showed revenue of ₹407.90 crore for the same period.
Source: BSE
