Motilal Oswal Financial Services Limited — Q1FY27 earnings call summary

Filed 24 July 2026 · Company audio recording

Asset & Private Wealth businesses to grow share of operating profit from 55% in Q1 FY27, driven by low market share and rising AUM (currently Rs 4.5 lakh cr, +34% YoY).
Alternate Asset Management to launch commercial real estate fund H2 FY27; private credit fund final close at Rs 3,000 cr.
Alternate business faced soft net flows in Q1 due to geopolitical uncertainty and market consolidation; expected to normalize with new fund launches.
Credit cost in housing finance rose QoQ but remains low at 1.0%; cost of borrowing expected to reduce 15-20 bps over 12-18 months post rating upgrade.
Private Wealth RM count at 441; hiring to slow in FY27 but focus on senior RMs for family offices; breakeven in 2-3 years, faster for senior hires.
Capital Markets pipeline strong with 11 deals in Q1; expect volatile but overall growth in IB revenues FY27.
AMC AUM nearing Rs 2 lakh cr milestone; 8 funds to cross 3-year vintage by Mar 27, 16 more by Mar 28, boosting flows and market share (net MF flow market share at 4.2%).
Employee costs up 16% QoQ due to annual increments; AMC costs normalized post Q4 ESOP reversal.