For the three months ended December 2025, NAM India reported a 37 per cent year-on-year rise in consolidated profit after tax to ₹404 crore; Revenue from operations increased 20 per cent to ₹705.3 crore
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Shares of Nippon Life India Asset Management Ltd (NAM-India) zoomed 7 per cent in early trade and settled with 2 per cent gains on Friday after the company posted a strong set of December-quarter numbers, led by robust growth in profits and revenues.
The stock closed 2 per cent positive at ₹878.10 after hitting a high of ₹919.20. This compared with Thursday’s closing price of ₹861.60.
For the three months ended December 2025, NAM India reported a 37 per cent year-on-year rise in consolidated profit after tax to ₹404 crore, against ₹295.4 crore in the year-ago quarter. Revenue from operations increased 20 per cent to ₹705.3 crore from ₹588 crore in the same period last year.
As of December 31, 2025, the company’s assets under management stood at ₹8.16 lakh crore, while its asset base was reported at ₹7 lakh crore.
On a standalone basis, PAT climbed 32 per cent year-on-year to ₹391.4 crore in Q3FY26, and revenues from operations rose 21 per cent to ₹659 crore.
Brokerages responded positively to the results, highlighting sustained inflows, expanding market share and improving earnings visibility.
Nuvama said NAM’s earnings strength continues, aided by healthy growth in quarterly average assets under management and strong systematic investment plan inflows. The brokerage noted that total QAAUM rose 23 per cent year-on-year in Q3FY26, driving revenue growth of 20 per cent to ₹705 crore, broadly in line with estimates.
Core operating earnings climbed 21.6 per cent year-on-year, while higher-than-expected other income lifted adjusted profit after tax to ₹400 crore, marginally above forecasts. Nuvama raised its earnings estimates for the coming years and increased its target price to ₹1,130 from ₹1,090, while maintaining a buy call.
Motilal Oswal reiterated buy with a target price of ₹1,060, describing NAM as among the fastest-growing asset managers in the country. The brokerage said the company continues to gain market share across segments, particularly in passive funds, supported by strong inflows, new product launches and steady investor participation. It added that while yields could moderate gradually, healthy net flows and operating efficiencies should cushion the impact, prompting it to upgrade earnings projections.
Elara Capital upgraded the stock to buy from accumulate and lifted the target price to ₹1,030 from ₹930. The brokerage pointed to consistent market share gains, strong growth momentum with mutual fund QAAUM rising 23 per cent year-on-year compared with the industry’s 18 per cent, and a granular SIP book that supports stable inflows. Elara also highlighted rising retail participation and sustained traction in exchange-traded funds, and said it has modestly raised its FY26 earnings estimates after the quarterly performance.
Published on January 30, 2026
