Skip to content

    360 ONE

    360ONE
    Financial Services·15 Jan 2026
    Management Summary

    360 ONE reported a strong Q3 FY26, marked by significant AUM and revenue growth, driven by robust net flows across wealth and asset management. Profitability improved with a record PAT and an enhanced tangible ROE, while the company outlined clear targets for cost-to-income ratio reduction and long-term profit growth. Strategic initiatives like the UBS collaboration and HNI segment expansion are progressing, positioning the company for sustained future growth.

    Highlights

    7

    • Total ARR AUM grew 28% YoY to Rs 3,17,906 crores.

    • Q3 FY26 net flows were Rs 14,758 crores, contributing to Rs 46,890 crores for 9m FY26.

    • ARR revenue increased 45.4% YoY to Rs 619 crores, representing 77% of total revenue.

    • Quarterly PAT reached a record high of Rs 331 crores, up 20.3% YoY.

    • Cost-to-income ratio stood at 48.3%, with a target of 45-46% for next year.

    • Tangible ROE improved to 21% from 20.4% in the previous quarter.

    • HNI segment AUM grew from Rs 400-500 crores to over Rs 3,000 crores, with breakeven expected in 3-6 months.

    What Changed2

    vs Q4 FY26

    Guidance items18 → 10 (-8)Risks discussed3 → 0 (-3)
    Key financials

    Metrics

    15

    Periods

    3

    Headline

    7
    • Total ARR AUM
      ₹3.18L Cr
      YoY+28.0%
    • Wealth ARR AUM
      ₹2.19L Cr
    • Asset Management ARR AUM
      ₹98,949 Cr
    • ARR Revenue % of Total Revenue
      77%
    • ARR Retention
      81 bps

    Q3 FY26

    7
    • Net Flows
      ₹14,758 Cr
    • ARR Revenue
      ₹619 Cr
      YoY+45.4%
    • Total Revenue
      ₹826 Cr
      YoY+21.8%
    • Total Costs
      ₹399 Cr
      QoQ0%
    • Cost-to-Income Ratio
      48.3%

    9m FY26

    1
    • Net Flows
      ₹46,890 Cr

    Capital allocation

    2
    high confidence
    CategoryHeadline
    M&A

    UBS Global Collaboration Framework

    joint venture · signed

    M&A

    B&K Securities

    Other · integrated

    Guidance & targets

    10
    CategoryTargetPriority
    Profitability
    PAT
    Rs 1,800-2,100 crores
    		High
    Profitability
    Profit Growth
    22-24%
    		High
    Profitability
    ROE
    Mid-20s (ex-intangible), late teens (including goodwill)
    		Low
    AUM
    AUM Growth
    22-24%
    		High
    Net Flows
    Net Flows as % of Closing AUM
    10-12%
    		High
    Revenue
    Revenue Growth
    16-18%
    		High
    Efficiency
    Cost-to-Income Ratio
    45-46%
    		High
    Business Performance
    HNI Business Breakeven
    Breakeven
    		High
    Business Performance
    ET Money Breakeven
    Close to breakeven
    		Medium
    Headcount
    UHNI Relationship Managers
    300-350
    		High

    HNI Business Breakeven

    next quarter (within 3-6 months)
    CurrentInvestments stabilized at Rs 18 crores, topline flat, AUM growing from Rs 450 crores to Rs 3,000 crores.
    TargetBreakeven

    Why it matters

    Indicates the profitability inflection point for a key growth segment and potential for disproportionate expansion.

    So, I think, we are at a place where we are fairly confident💬, and we are going to pretty much breakeven in 3-6 months. Post that, you'll see us expanding in a slightly more disproportionate way.

    How to verify

    guidance_and_targets[metric='HNI Business Breakeven']

    0

    Q&A highlights

    7

    “I think guidance is automatically revised upwards every year, because I'm just going back to my old model that we need to grow our AUM by 22 to 24% and assuming a 10-odd percent kind of mark-to-market on a steady basis across all asset classes, alternates, listed equity. We've obviously averaged higher than that, but assuming a 9 to 10%, we need to do 12 to 13% of opening AUM as net flows. So, as the opening AUM and closing AUM, there's a large gap. So obviously, the next year target automatically becomes 12% of the closing AUM. So, to that extent, we would always want to get net flows in the region of 10 to 12% of our closing AUM.”

    Provides clear quantitative targets for AUM growth and net flows, which are critical for an AMC's long-term performance.

    asked by Mohit Mangal

    2 min read6 chapters

    Detailed Narrative

    01

    Strong AUM and Revenue Growth Driven by Net Flows

    360 ONE reported a robust quarter with total ARR AUM increasing 28% year-on-year to Rs 3,17,906 crores, comprising Rs 218,957 crores in Wealth ARR AUM and Rs 98,949 crores in Asset Management ARR AUM. This growth was supported by strong net flows of Rs 14,758 crores in Q3 FY26, bringing the nine-month total to Rs 46,890 crores. ARR revenue for the quarter grew 45.4% year-on-year to Rs 619 crores, contributing 77% of the total revenue, while overall total revenue increased by 21.8% to Rs 826 crores.

    02

    Profitability and Efficiency Improvements

    The company achieved its highest-ever quarterly PAT of Rs 331 crores, marking a 20.3% year-on-year increase. The cost-to-income ratio stood at 48.3%, with management targeting an improvement to 45-46% next year, driven by expected breakeven in the HNI and ET Money businesses. Tangible ROE also improved to 21% from 20.4% in the previous quarter, with an aspiration to reach mid-20s (ex-intangible) in the future, reflecting enhanced operational efficiency.

    03

    Strategic Focus on UHNI, Alternates, and HNI Segments

    Management emphasized continued strong performance in the UHNI Wealth Management and Alternates businesses. The Alternates business has grown to Rs 50,000 crores over 7-8 years, with 95% of its funds in the top-rated percentile. The HNI segment (catering to Rs 5-50 crores AUM) has shown significant growth, expanding from Rs 400-500 crores to over Rs 3,000 crores, with breakeven anticipated in the next 3-6 months, supported by 58 relationship managers and Rs 2,000-2,200 crores in net new flows for the financial year.

    04

    Strategic Partnerships and Rebranding Initiatives

    The comprehensive Global Collaboration Framework for Wealth with UBS was signed in November, with early traction observed and business translation expected from April/May onwards after regulatory approvals. Additionally, B&K Securities has been rebranded to 360 ONE Capital, integrating corporate and institutional equities as core capabilities. This integration is expected to expand the capital markets footprint and reinforce the company's position as a comprehensive financial services platform, with an anticipated 25-30% increase in high net-worth equity brokerage over the next 12 months.

    05

    Long-term Growth and Profit Targets

    The company reiterated its long-term model, targeting 22-24% AUM growth, 16-18% revenue growth, and 22-24% profit growth. Based on these assumptions, management aims for a PAT of Rs 1,800-2,100 crores by April 2028, a significant increase from Rs 1,000 crores in April 2025. This ambitious target is underpinned by an expected 10-12% net flows of closing AUM annually, demonstrating confidence in sustained market leadership and expansion.

    06

    Talent Acquisition and Geographical Expansion Plans

    360 ONE continues to prioritize talent acquisition, with the number of UHNI Relationship Managers growing to approximately 191, and a target to reach 300-350 RMs over the next 3-4 years by adding 40-50 bankers annually. The company also plans significant geographical expansion, focusing on building a stronger presence in new cities within India and exploring international markets like Dubai and Singapore, while maintaining a selective approach to hiring for new banking capabilities.

    This is an AI-generated summary of a publicly available earnings call transcript. It is for informational purposes only and does not constitute investment advice, a recommendation, or an endorsement. inve.money is not a SEBI-registered investment advisor. Please consult a qualified financial advisor before making any investment decisions.