Edelweiss Financial Services Ltd. - 532922 - Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for TIAA CREF Investment Management, LLC Q3FY24 Quarterly Result Announced for Edelweiss Financial Services Ltd.
Edelweiss Financial Services announced Q3FY24 results: Q3FY24 Financial Highlights: EFSL post-MI Consolidated PAT of Rs 125 crore, 24% growth YoY. EFSL post-MI Ex-Insurance PAT of Rs 186 crore, 12% growth YoY. Revenue (consolidated) - Rs 2,415 crore. Business Highlights: Alternative Asset Management business AUM grew by 16% YoY to Rs 52,100 crore. Mutual Fund business Equity AUM increased by 47% YoY to Rs 40,000 crore. Gross Written Premium for General Insurance grew by 70% YoY to Rs 254 crore. Gross Premium for Life Insurance increased by 12% YoY to Rs 422 crore. Retail croreedit disbursements via co-lending doubled YoY; collection efficiency at 97%. Customer Franchise continues its growth trajectory: Customer reach expands further on the back of a retail scale-up, growing 33% YoY to 6.7 million. This has also aided a 17% YoY growth in customer assets to Rs 2.1 trillion, led by the asset management businesses. Overall businesses saw significant growth in the customer base – demonstrating the continued trust reposed in us by our customers. Balance Sheet Highlights: Net Worth at Rs 6,046 crore. Debt reduced by Rs 3,350 crore YoY. Liquidity of Rs 3,455 crore at 18% of debt. Strong capitalization across businesses, with capital adequacy of over 34% across credit entities. Key Performance Highlights: Alternative Asset Management AUM grew 16% YoY to Rs 52,100 crore. Its FPAUM increased 22% YoY to Rs 29,500 crore. Mutual Fund AUM saw consistent growth, expanding by 23% YoY to Rs 1,23,000 crore, and Equity AUM was up 47% YoY to Rs 40,000 crore. Asset Reconstruction business acquired debt assets of Rs 1,910 crore of which ~40% were retail. Further, the share of retail assets in capital employed increased to 15%. Gross written premium for General Insurance grew by 70% YoY to Rs 254 crore. The business issued ~1.25 lakh new policies in the quarter, an uptick of 12% YoY. In Life Insurance, Gross Premium increased by 12% YoY to Rs 422 crore, claim settlement ratio at 98%, and 13m persistency improved to 77%. Wholesale book reduction was on track as per planned, reduced ~65% since Dec 21. Disburseals in NBFC of Rs 250 crore in the quarter with ~80% under CLM. Signed co-lending partnership with Godrej Capital. Disbursements in Housing Finance of Rs 300 crore in the quarter, of which 32% has been under CLM. Partnerships continue to deepen with Standard Chartered Bank and State Bank of India. Speaking on the occasion, Rashesh Shah, Chairman of Edelweiss Financial Services, highlighted the following points: "In the quarter gone by, India's economy showcased strong growth with a 7.6% GDP rise and positive indicators like a stable rupee and robust foreign exchange reserves. We saw all-time highs in Indian indices and significant growth in GST and Net Direct Tax collections. These factors reinforce our optimism about India's economic path. However, we are also aware of the contrasting global economic environment, including recessionary pressures in some regions and upcoming elections in many countries. This backdrop guides our cautious yet optimistic outlook for Indian markets in the near future. At Edelweiss, we're strategically focused on long-term growth, aligning with India's economic strengths while navigating the global landscape. Our approach is to build and nurture businesses with a 20-25-year horizon, reflecting our belief in India's enduring potential. This quarter, we reported an ex-Insurance PAT of Rs 186 crore, with a growth of 12% YoY. We continue to see healthy profitability and an upward trend in operating metrics across the businesses. Further, the balance sheet remains robust with all businesses being well capitalized and holding comfortable liquidity, while we continue to focus on debt reduction. Customer reach has experienced a 33% YoY surge, growing to 6.7 million, while customer assets have grown by 17% YoY, reaching a milestone of Rs 2.1 trillion. The businesses continue to demonstrate a robust growth trajectory. Alternative Asset Management business showed a steady rise in its AUM, with a growth of 16% YoY to Rs 52,100 crore and 22% YoY growth in FPAUM to Rs 29,500 crore. Mutual Fund business recorded AUM growth of 23% YoY to Rs 1,23,000 crore and Equity AUM growth of 47% YoY to Rs 40,000 crore. The General Insurance business has recorded a notable 70% growth YoY in Gross Written Premium to Rs 254 crore and the Life Insurance business increased its Gross Premium by 12% YoY to Rs 422 crore, this quarter. We remain focused on scaling the Alternative Asset Management and Mutual Fund businesses while continuing to build a path to profitability in the Insurance businesses and grow the retail credit book through the co-lending model. Additionally, our focus will remain on progressing further in our reduction in net debt." Result PDF Edelweiss Financial Services Ltd. - 532922 - Announcement under Regulation 30 (LODR)-Investor Presentation
Please find enclosed an update (in US Dollar) on Edelweiss Alternatives Business Edelweiss Financial Services Ltd. - 532922 - Announcement under Regulation 30 (LODR)-Investor Presentation
Please find enclosed an update (in INR) on Edelweiss Alternatives Business. Edelweiss Financial Services Ltd. - 532922 - Announcement under Regulation 30 (LODR)-Investor Presentation
Please find enclosed herewith the earnings update (in US Dollars) of the Company for the quarter ended December 31, 2023. Edelweiss Financial Services Ltd. - 532922 - Announcement under Regulation 30 (LODR)-Investor Presentation
Please find attached the earning update (in INR) for the quarter ended December 31, 2023 Edelweiss Financial Services Ltd. - 532922 - Compliances-Reg. 54 - Asset Cover details
Security cover certificate pursuant to Regulation 54 of the Listing Regulations Edelweiss Financial Services Ltd. - 532922 - Approval Of The Unaudited Consolidated And Standalone Financial Results Of The Company For The Third Quarter And Nine Months Period Ended December 31, 2023
Approval of the unaudited Consolidated and Standalone Financial Results of the Company for the third quarter and nine months period ended December 31, 2023 Edelweiss Financial Services Ltd. - 532922 - Board Meeting Outcome for Approval Of The Unaudited Consolidated And Standalone Financial Results Of The Company For The Third Quarter And Nine Months Period Ended December 31, 2023
Approval of the unaudited Consolidated and Standalone Financial Results of the Company for the third quarter and nine months period ended December 31, 2023 Edelweiss Financial Services Ltd. - 532922 - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pabrai Investment Fund 3 Ltd & Others