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Nuvama Wealth Management Limited Announces Q4 FY24 Results, Delivering robust Year-over-Year Growth of 57% in Operating PAT

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MUMBAI, India, May 29, 2024 /PRNewswire/ — Nuvama Wealth Management Limited (NSE: NUVAMA) (BSE: NUVAMA), one of India’s leading Wealth Management companies, reported its financial results and business performance for the quarter and year ending 31st March 2024.

Nuvama Group: Consolidated Performance

Revenues: Q4 FY24 stood at US $ 71 million, grew by 35% YoY and FY24 at US $ 247 million, grew by 31% YoY.Operating Profit After Tax (PAT): Q4 FY24 stood at US $ 22 million, grew by 57% YoY and FY24 at US $ 72 million, grew by 62% YoY.Sustained robust growth in Wealth and Asset Management, FY24 revenues grew by 18% YoY. Capital Markets FY24 revenue grew by 64% YoY supported by robust primary and secondary Indian markets.

Particulars – US $ million

Q4 FY23

Q4 FY24

YoY

%

FY23

FY24

YoY

%

Revenues

53

71

35 %

189

247

31 %

Costs

34

43

25 %

130

153

18 %

Operating Profit Before Tax (PBT)

18

29

55 %

59

94

60 %

Operating Profit After Tax (PAT)

14

22

57 %

44

72

62 %

Commenting on the performance Ashish Kehair, MD & CEO of Nuvama Group said, “India’s structural growth journey continues, with robust GDP, healthy corporate earnings, sustained domestic demand and stable macros. Equity markets saw highest ever institutional flows in FY24 making India, one of the best-performing markets. With Nuvama’s comprehensive, diversified, and scaled wealth management platform we were able to leverage full potential of these trends. We closed fiscal 2024 with PAT of US $ 72 million, growing by 62% YoY.

Our client assets stood at US $ 41.5 billion, growing by 50% YoY, powered by ‘client-first’ philosophy, and supported by strong markets. We delivered revenues of US $ 247 million led by growth across our business segments. Execution of our strategic priorities remains on track. In Wealth Management we scaled sales capacity and expanded our footprint. In Nuvama Wealth we added 200+ RMs. In Nuvama Private we added 20 RMs and expanded to 3 new locations in India. We have made important progress on launch of our offshore proposition. In Asset Management, we continue to scale our strategies. Our public market funds AUM witnessed strong flows, grew by 155% YoY, and crossed US $ 240 million mark. Our newly launched commercial real estate fund with Cushman & Wakefield is on track to raise funds as planned. We are expanding our distribution by building network across wealth managers, banks, and Institutions. In our Capital Markets business, we ended the year with a stellar performance supported by increased market volumes and growth in our market share.

As we enter fiscal 2025, we remain watchful on some of key global and domestic trends that may play out in coming quarters. We are confident on the long-term growth prospects of Wealth Management industry in India and excited to grow our capacity and capabilities and sustain this leadership.”

Key Highlights

Wealth ManagementRevenues: US $ 40 million in Q4 FY24, grew by 16% YoY and US $ 142 million in FY24, grew by 17% YoYPBT: US $ 14 million in Q4 FY24, grew by 15% YoY and US $ 50 million in FY24, grew by 24% YoY.Client Assets: US $ 29.7 billion as at end of Q4 FY24, grew by 36% YoY.Added ~230 new RMs this fiscal, taking our RM count to ~1,200.Nuvama Wealth: Revenues and net flows from Managed Products & Investment Solutions (MPIS) remains robust. In FY24, MPIS contributed 86% of the total new flows.Nuvama Private: Revenue and net flows from Annual Recurring Revenue (ARR) earning assets continues to grow at a faster rate. ARR revenues were 57% of total revenues.Asset Management Revenues (ex-carry): US $ 1 million in Q4 FY24, grew by 27% YoY and US $ 6 million in FY24, grew by 34% YoY.AUM: US $ 0.8 billion as at end of Q4 FY24, grew by 25% YoY, of which Public Markets AUM stood at US $ 0.3 billion, grew by 155% YoY.Capital MarketsRevenues: US $ 30 million in Q4 FY24, grew by 71% YoY and US $97 million in FY24, grew by 64% YoY.PBT: US $ 16 million in Q4 FY24, grew by 123% YoY and US $ 45 million in FY24, grew by 180% YoY.Client Assets for Asset Services: US $10.9 billion as at end of Q4 FY24, grew by 109% YoY.Robust primary & secondary capital markets and increased market share led to the growth in business revenue and profitability.

About Nuvama Group

Nuvama has built a strong foundation of trust and reputation in the Indian market over 25 years. As one of India’s leading integrated wealth management firm in India, Nuvama oversees US $ 41.5 billion of client assets and caters to a diverse set of clients which includes ~1.2 million affluent and HNIs and ~3,600 of India’s most prosperous families, as of end of FY24. Nuvama offers wealth management solutions, covering investment advisory, estate planning, investment management, lending and broking services for individuals, institutions, CXOs, professional investors, and family offices. It also offers a wide bouquet of alternative asset management products and is a leading player in capital markets.

For more details, please visit: https://www.nuvama.com

Disclaimer: The US $ values above have been converted using foreign exchange rate of 1 US $ equal to INR 83.3739 for convenience. Due to rounding off, numbers presented in this Earnings Release may not add up to the totals provided and/or correlate with the growth and contribution percentages provided. Data provided in the INR version of the Earnings Release shall prevail in case of disparity.        

Logo: https://mma.prnewswire.com/media/2424314/Nuvama_Logo.jpg

 

 

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LEAP Group Relaunches HumanView, a Growth Intelligence System Built to Explain Why Customers Behave the Way They Do

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32 minutes ago

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October 24, 2026

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Reimagined from the ground up, HumanView pairs statistical modeling with expert analysts to turn millions of real-world customer signals into business decisions

LOUISVILLE, Ky., Oct. 23, 2026 /PRNewswire/ — LEAP Group today announced the relaunch of HumanView, its growth intelligence service. The new version has been rebuilt from the ground up and now has a dedicated home at leapgroupnetwork.com/humanview.

HumanView analyzes what customers say and do across social platforms, e-commerce sites, review platforms, search behavior and user-generated content, including signals from Reddit, TikTok, YouTube, Meta, Amazon and Walmart+ that general AI tools cannot always access. Because the data reflects unprompted, real-world behavior, it avoids the response bias built into surveys and focus groups.

The service works in three layers. HumanView captures signals at scale, decodes millions of records through validated statistical models such as regression, correlation and clustering, and then relies on experienced analysts to interpret the patterns. Clients receive clear, human-validated insights instead of another dashboard.

“Machines find the patterns. Humans find the point,” said Alan Gilleo, CEO at LEAP Group. “The first version of HumanView showed us how much customers reveal when nobody is asking them questions. This version is built to explain why they act the way they do, and to put those answers in front of everyone making decisions, from product to service to marketing.”

HumanView focuses on three areas:

Growth Intelligence: customer motivations and how people perceive a brand and its competitors

Market and Category Intelligence: product pain points, service friction, unmet needs and competitive gaps

Audience Intelligence: new segments, positioning opportunities and gaps in the market

Every model is designed and validated by data scientists and benchmarked before it informs a recommendation.

To learn more about HumanView, visit leapgroupnetwork.com/humanview.

About LEAP Group
LEAP Group is a boutique marketing agency holding company with offices in Louisville, Indianapolis, Cincinnati and Chicago. Guided by the belief that brands should “Market Less. Matter More.,” LEAP gives clients access to specialized experts across its entire network. Learn more at leapgroupnetwork.com.

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SOURCE LEAP Group

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STEPHEN A. SMITH ADDRESSES WHITE HOUSE DINNER ATTENDANCE, REAFFIRMS COMMITMENT TO HBCUs AND PROTECTING CORPORATE INVESTMENT IN BLACK EDUCATION

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2 hours ago

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October 24, 2026

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NEW YORK, Oct. 23, 2026 /PRNewswire/ — Stephen A. Smith, media mogul, New York Times bestselling author, and proud 1991 graduate of Winston-Salem State University, is addressing the public discussion surrounding his decision to attend a White House dinner with President Donald Trump, emphasizing his commitment to the long-term financial stability of Historically Black Colleges and Universities (HBCUs).

For Smith, the decision was rooted in a commitment to institutions that have educated generations of Black leaders, professionals, entrepreneurs, and public servants.

“I will always advocate for HBCUs and the students whose futures depend on them,” Smith said. “My reason for attending the White House dinner was to discuss the challenges these institutions face in securing long-term funding and to make the case that corporate America must continue to invest in them.”

Smith acknowledged federal support through the FUTURE Act while expressing concern that political tensions surrounding diversity, equity, and inclusion (DEI) could discourage private companies from supporting HBCUs. He maintains that these institutions deserve sustained corporate partnerships, philanthropic contributions, and public investment.

“If we truly believe in free-market capitalism, businesses should be able to support educational institutions and charitable causes without fear of criticism or repercussions,” Smith said. “HBCUs have made extraordinary contributions to this country. They deserve sustained public and private investment.”

Ashley Christopher, Esq., Founder and CEO of the HBCU Week Foundation, recognized Smith’s advocacy and decision to engage with the administration.

“Stephen A. Smith has been a powerful advocate for HBCUs, using his platform and influence to shine a national spotlight on our institutions,” expressed Christopher, “His continued support of HBCU Week helps advance our mission of connecting students with life-changing educational opportunities, and we are proud to have him as our ambassador.”

Since Smith became an HBCU Week Ambassador in 2019, the initiative has facilitated more than 15,000 on-the-spot college acceptances and raised and awarded more than $150 million in scholarships, according to the HBCU Week Foundation.

As public discussion continues, Smith is emphasizing the importance of ensuring HBCUs have the resources and partnerships needed to educate future generations and expand opportunities for students.

CLICK HERE to watch Smith’s full response to his White House visit.

MEDIA CONTACT:

media@mrsasinc.com

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SOURCE Straight Shooter Media

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Advantex Announces Completion of Financing and Extension of Maturity Date of Previously Issued Debentures

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2 hours ago

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October 24, 2026

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TORONTO, Oct. 23, 2026 /CNW/ — Advantex Marketing International Inc. (CSE: ADX) (“Advantex”), a leader in the merchant cash advance and loyalty marketing products for merchants, today announced the completion of a $250,000 secured debt financing. Advantex issued a $250,000 non-convertible debenture which bears an interest rate at 12% per annum and matures December 15, 2027. The proceeds raised from this issuance of the Debenture will be used for working capital purposes.

Advantex has also extended the maturity of its existing $700,000 in 12% secured debentures from October 10, 2026 to December 15, 2027.

About Advantex Marketing International Inc.

Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants.

Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information go to Advantex’s profile on www.sedar.com

Forward-Looking Information

This news release contains “forward-looking statements” within the meaning of applicable securities laws relating to the future business and operations of Advantex. Actual results and developments may differ materially from those contemplated by these statements. The business and operations of Advantex described herein is dependent on a number of factors and is subject to a number of risks and uncertainties. Factors that could cause actual results to differ material include, but are not limited to, changes in Advantex’s economic and competitive conditions including but not limited to the industry sectors in which Advantex operates.

The statements in this news release are made of the date of this release. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and Advantex undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

SOURCE Advantex Marketing International Inc.

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