Motilal Oswal has issued a buy rating on 360 ONE WAM with a target price of ₹1300 in its research report dated September 18, 2026. According to the brokerage's analysis, the wealth management firm is positioned to benefit from India's growing ultra-high-net-worth individual (UHNI) market, which is expected to expand significantly in the coming years.
India's USD 30+ million population currently stands at approximately 19,900, but is projected to exceed 25,000 by 2031. As reported by Motilal Oswal, only 15% of Indian wealth is currently professionally managed compared to 75% in mature markets, indicating significant growth potential. The firm has identified 4,000+ UHNI families in an addressable base of 40,000-45,000 families, providing substantial room for client acquisition and scale expansion.
Motilal Oswal forecasts FY26-28 revenue/PAT CAGR of 18%/20% for 360 ONE WAM. The brokerage employs a sum-of-the-parts (SOTP) valuation approach, applying 36x FY28 PAT for the Annual Recurring Revenue (ARR) and 20x FY28 PAT for Total Business Revenue and other income to arrive at the fair value of ₹1,300. This valuation methodology reflects the company's diversified revenue streams and growth prospects in the expanding wealth management sector.
