360 One Wam (360ONE) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 delivered robust growth in AUM, revenues, and profitability, with a focus on recurring revenue streams and operational efficiency.

• Board approved unaudited consolidated and standalone financial results for Q3 and nine months ended December 31, 2024.

• Announced acquisition of B&K Securities and B&K Finserv for INR 1,884 crores, structured with cash and stock, expected to be EPS accretive and to enhance broking, investment banking, and corporate treasury capabilities.

• Appointment of Mr. Sandeep Tandon as Additional, Non-Executive, Independent Director for five years, subject to shareholder approval.

• Issuance of up to 33,33,333 warrants to Mr. Saahil Murarka on a preferential basis, convertible into equity shares within 18 months.

Financial highlights

• Q3 FY25 PAT at INR 275 crores, up 41.7% YoY; total revenues at INR 678 crores, up 45.4% YoY.

• Revenue from operations for Q3 FY25 at INR 605 crores, up 37.7% YoY; ARR revenue at INR 426 crores, up 26.2% YoY.

• Total AUM reached INR 5,79,222 crores, up 27.6% YoY; ARR AUM at INR 2,48,000 crores, up 33% YoY.

• Cost-to-income ratio improved to 47.1% in Q3 FY25.

• Tangible ROE at 24.1% in Q3 FY25.

Outlook and guidance

• Focus on expanding recurring revenue, deepening institutional and domestic distribution, and leveraging synergies from the B&K acquisition.

• EPS accretive impact from the B&K acquisition expected over FY26-27.

• Internal target for FY26 is to add 10%-12% of AUM through net flows, aiming for 20%-25% AUM growth including mark-to-market.

• HNI and global flows expected to scale up significantly in FY26, with HNI flows projected to triple.

• Steady hiring planned, with 20-25 new bankers expected in FY26.