Nuvama Wealth Management announced the appointment of Keyur Ajmera as the Group Chief Risk Officer, effective February 1, 2026. He replaces Venkataraman Ananthakrishnan, who is transitioning to a new senior leadership role within the Nuvama Group. The company’s board also approved an investment of up to ₹100 crore in Nuvama Asset Management Limited (NAML). Further, the board is evaluating strategies for better value discovery for all shareholders.
Leadership Change
Keyur Ajmera has been appointed as the Group Chief Risk Officer, effective February 1, 2026. Venkataraman Ananthakrishnan will be transitioning to a new senior leadership position within the Nuvama Group. With the change, Mr. Ananthakrishnan will no longer be designated as Senior Management Personnel (SMP), while Mr. Ajmera will now hold that designation. Mr. Ajmera brings over 18 years of experience in risk management within the financial services industry.
Investment in Subsidiary
The Board approved an investment of up to ₹100 crore in one or more tranches in Nuvama Asset Management Limited (NAML), a wholly-owned subsidiary, through subscription to equity shares.
Strategic Review
The company is evaluating various strategies aimed at enhancing value for all shareholders. This includes exploring optimal ways to organize its business segments. Further details will be disclosed as required.
Financial Performance Highlights (Q3 FY26)
Nuvama Wealth Management reported consolidated financial results for Q3 FY26. Key figures include:
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Total Income: ₹1,105.98 crore
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Profit before tax: ₹339.98 crore
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Net Profit: ₹253.62 crore
The results reflect a solid performance across various business segments, as detailed in the consolidated segment results.
Segment Performance
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Wealth Management Business: Revenue of ₹696.89 crore and profit before tax of ₹140.08 crore.
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Asset Management Business: Revenue of ₹36.22 crore and loss before tax of ₹4.21 crore.
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Capital Markets Business: Revenue of ₹407.90 crore and profit before tax of ₹205.12 crore.
Source: BSE
