**360 ONE WAM Posts 19% Revenue Growth Amid Strong AUM Expansion** **Key highlights** • Total revenue climbed 18.6% to ₹3,144 crore in FY26, driven by robust recurring income streams. • Assets under management reached ₹6,74,492 crore, marking 16% year-over-year growth across wealth and asset management. • Annual recurring revenue surged 34.5% to ₹2,289 crore, now comprising 77% of total revenue mix. • Net profit advanced 20.7% to ₹1,225 crore for FY26, with return on tangible equity at 19.3%. **Opening Paragraph** 360 ONE WAM delivered a compelling performance in FY26, demonstrating the wealth management firm's ability to scale operations while maintaining strong profitability metrics. The company's focus on building recurring revenue streams paid dividends, with annual recurring revenue growth significantly outpacing overall business expansion. This performance reflects successful execution of the firm's strategy to deepen client relationships and expand its comprehensive financial services platform across ultra-high net worth and high net worth segments. **Recurring Revenue Model Drives Sustainable Growth** The company's emphasis on annual recurring revenue proved its strategic value, with ARR reaching ₹2,289 crore for FY26, representing 34.5% growth over the previous year. This recurring income now constitutes 77% of total revenue, providing stability and predictability to the business model. Wealth ARR AUM expanded 33.4% to ₹2,16,734 crore, while maintaining an ARR retention rate of 0.76% for the full year. The company generated substantial Wealth ARR net flows of ₹46,576 crore during FY26, indicating strong client confidence and continued asset gathering momentum across its wealth management platform. **Client Franchise Expansion Across Segments** 360 ONE WAM's client base grew strategically, with total relevant clients increasing 14% to 8,500+ families, while clients with AUM above ₹10 crore expanded by a similar margin to 3,777. The firm's relationship management capacity strengthened with a 27% increase in relationship managers to 163 professionals. Client vintage analysis reveals exceptional stickiness, with clients of five years or more contributing 81% of AUM despite representing only 59% of the client count. The company's expansion into mass affluent segments through ET Money added over 10 lakh users with ₹95,000 crore in mutual fund AUM on the platform. **Asset Management Platform Delivers Consistent Performance** The asset management division contributed ₹781 crore in revenue for FY26, with total AUM reaching ₹95,206 crore, up 12.8% year-over-year. Alternative investment funds led growth with ₹52,533 crore in AUM, advancing 26.2% annually, while discretionary portfolio management services managed ₹30,184 crore. The division maintained healthy operating profit margins with ₹454 crore in operating profit before tax. Investment professionals expanded 12% to 80+ team members, supporting the management of 2,51,836 folios across various investment strategies and client mandates. **Strategic Acquisitions and Partnerships Enhance Market Position** The company's strategic initiatives gained traction through completed acquisitions and partnerships that expand its service capabilities. The exclusive strategic partnership with UBS offers global synergies and enhanced wealth management propositions for clients. These initiatives complement the ET Money acquisition, which established the firm's presence in the mass affluent segment with significant user engagement and advisory client relationships. **Operational Efficiency Supports Margin Expansion** 360 ONE WAM maintained disciplined cost management while investing in growth, with the cost-to-income ratio at 49.9% for FY26. The firm achieved 96% digital onboarding for new clients, demonstrating technological advancement and operational efficiency. Employee costs grew 22% to ₹1,123 crore, reflecting strategic hiring and expansion, while fixed costs increased 33.8% to ₹786 crore, primarily supporting infrastructure and technology investments. The company's focus on operational leverage is evident in profit growth outpacing revenue expansion, with return on tangible equity reaching 19.3%. **The Bigger Picture** 360 ONE WAM appears well-positioned to capitalize on India's expanding wealth management opportunity, with its diversified platform spanning wealth management, asset management, and capital markets services. The company's strong recurring revenue foundation, combined with strategic acquisitions and partnerships, provides multiple growth vectors while maintaining operational discipline. With substantial AUM growth, expanding client relationships, and enhanced service capabilities, the firm seems equipped to navigate market opportunities while delivering consistent shareholder returns through its proven business model.