Nuvama Wealth Management Upgraded to CARE AA; Stable — Diversified Growth and Profitability Drive Rating Boost
Kolkata, July 7, 2025: CareEdge Ratings has upgraded the long-term credit rating of Nuvama Wealth Management Limited (NWML) to CARE AA; Stable, while reaffirming its short-term rating at CARE A1+. The upgrade reflects the company’s strong financial performance, consistent profitability, and a well-diversified business model across wealth management, asset services, asset management, and capital markets.
In its rating rationale, CareEdge Ratings said: The upgrade in ratings assigned to debt instruments of the Nuvama Group factors in healthy growth in the wealth management, asset services and capital market segments, which further strengthens its established market presence, and improving profitability, supported by a diversified business model.
As of March 31, 2025, the group’s consolidated client assets under advisory (AUA) surged to Rs. 4.3 lakh crore – a 24% year-on-year growth. The consolidated profit after tax (PAT) for FY25 stood at Rs. 985 crores, up from Rs. 625 crores in FY24, with return on net worth (RoNW) improving to 31.79%. Nuvama Group currently serves over 1.2 million affluent customers and 4250 HNI/UHNI families, making it the second-largest independent wealth management player in India.
With strong capitalisation (tangible net worth of ₹3,405 crore), a growing client base, and a stable outlook, Nuvama continues to demonstrate resilience and momentum in a dynamic financial landscape.
In addition, the group’s ESG initiatives, board-led governance practices and continued investment in talent reinforce its reputation as a future-ready and resilient institution. This recognition is another affirmation into Nuvama’s transformation into a governance-first, technology-led and solution-driven wealth management powerhouse catering to India’s rapidly evolving affluent and HNI investor base.