Financial Services · NSE: ABSLAMC
Aditya Birla Sun Life AMC
Q2 FY27 earnings call · Guided by management
Call held 21 Oct 2026 · Read the filing on NSEFiling
- M.Cap
- ₹26,903Cr
- P/E
- 27.3×
- 1Y return
- +26.14%
- From 52W high
- −24.1%
Highlights are read by AI from the company's filing and can contain mistakes. Check the source page linked to each line.
Share price
Results Q2 FY27, as filed · consolidated · ₹ Cr
| Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ | |
|---|---|---|---|---|---|
| Revenue | 484 | 461 | +4.9% | 463 | +4.5% |
| PBTProfit before tax | 296 | 316 | -6.2% | 406 | -27.1% |
| Net profit | 221 | 241 | -8.4% | 309 | -28.6% |
| EPS (₹) | 7.60 | 8.34 | -8.9% | 10.67 | -28.8% |
From the company's own results filing on NSE. Net profit is the owners' share. Growth and the dotted lines are worked out from the filed figures.
Guidance
Employee cost in coming quarters expected in similar range as Q2
Pradeep Sharma · Chief Financial Officer · Q&A · p. 6
Employee cost in coming quarters expected in similar range as Q2
“For coming quarters, I think the number should be in the similar range of Q2.”
Costs expected in line with Q2, except inflationary impact
Pradeep Sharma · Chief Financial Officer · Q&A · p. 18
Costs expected in line with Q2, except inflationary impact
“So I think cost would be in line what is there in Q2, and except the inflationary impacts both in employee cost as well as the other business cost.”
More figures from the call
“The IMF has revised its FY27 growth forecast for India from 6.4% to 7%, and the RBI revised its outlook upwards to 7.1%, a reflection of confidence in the economic underlying strength.”
“One, the customers who are greater than ₹1 crores will be handled by these 80 people.”
In short
- 01Q2 FY27 profit after tax was about Rs 221 crore against Rs 241 crore in Q2 FY26; revenue about Rs 526 crore.
- 02Overall average AUM including EPFO and ESIC mandates reached Rs 11.06 lakh crore, up 140% year-on-year.
- 03Mutual fund quarterly average AUM was Rs 4.42 lakh crore, up 4%; equity AUM Rs 2.09 lakh crore, up 9%.
- 04ESOP cost from earlier schemes about Rs 55-60 crore a year for 2 years, plus Rs 14-15 crore a year from the new scheme.
- 05Costs in coming quarters expected in line with Q2, apart from inflation.
- 06EPFO and ESIC mandates are cost-neutral; management expects indirect benefits.
- 07Flexi Cap net flow market share put at about 4.5% to 4.8%, up from the previous quarter.
- 08Six GIFT City funds planned next quarter; real estate credit fund Series 2 to close by December.
Segments
alternates: PMS and AIF assets rose from Rs 30,300 crore to Rs 6,57,109 crore, including EPFO mandate
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 5
alternates: PMS and AIF assets rose from Rs 30,300 crore to Rs 6,57,109 crore, including EPFO mandate
“Our PMS, AIF assets increased from ₹30,300 crores to ₹6,57,109 crores, which of course includes the EPFO mandate that we have got.”
real estate: Real estate AUM about Rs 860 crore, up 43%; Series II credit fund raising underway
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 5
real estate: Real estate AUM about Rs 860 crore, up 43%; Series II credit fund raising underway
“In our real estate business, our AUM stood at approximately ₹860 crores, a 43% year-on-year growth, and fundraising is currently underway for the Aditya Birla Real Estate Credit Opportunities Fund Series II”
passives: Passive quarterly average AUM about Rs 39,860 crore, up 10% year-on-year
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 5
passives: Passive quarterly average AUM about Rs 39,860 crore, up 10% year-on-year
“During the Q2 FY27, our passive quarterly average asset under management stood at approximately ₹39,860 crores, up 10% year-on-year.”
ETF: ETF quarterly average AUM grew about 42% versus industry growth of about 27%
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 6
ETF: ETF quarterly average AUM grew about 42% versus industry growth of about 27%
“ETF quarterly average AUM grew by about 42% year-on-year and significantly ahead of the industry growth of about 27%.”
SIF: SIF platform has three products with about Rs 700 crore as of September 2026
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 6
SIF: SIF platform has three products with about Rs 700 crore as of September 2026
“Our SIF platform now comprises of three products with the total of approximately about ₹700 crores as of September 2026.”
Demand
Management expects mutual fund industry growth momentum to remain
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 9
Management expects mutual fund industry growth momentum to remain
“Therefore, I would assume the overall growth momentum for the mutual fund industry would remain.”
SIF: More allocations expected to come into SIF in addition to existing fund allocations
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 10
SIF: More allocations expected to come into SIF in addition to existing fund allocations
“I think the way things are moving, definitely more and more allocations as an addition to the existing funds allocation would come into the SIF.”
SIF: SIF industry reached about Rs 31,000 crore in six to nine months
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 10
SIF: SIF industry reached about Rs 31,000 crore in six to nine months
“I think in a short while of about nine months to six months the industry has become about ₹31,000 crores.”
Near-term market volatility may persist, per management
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
Near-term market volatility may persist, per management
“near-term volatility may persist but earning growth and domestic investor base continue to provide a strong foundation for the longer-term outlook.”
mutual fund industry: Industry quarterly average AUM Rs 87.21 lakh crore, up about 13% year-on-year
₹87,21,000CrA. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
mutual fund industry: Industry quarterly average AUM Rs 87.21 lakh crore, up about 13% year-on-year
₹87,21,000Cr“₹87.21 lakh crores as on 30 September 2026 compared to ₹77.13 lakh crores as of the same period last year, registering year-on-year growth of about 13%.”
Margins and costs
Q2 ESOP cost about Rs 12-13 crore, around 13% of employee cost increase
Pradeep Sharma · Chief Financial Officer · Q&A · p. 6
Q2 ESOP cost about Rs 12-13 crore, around 13% of employee cost increase
“So, for this quarter around ₹12 crores to ₹13 crores is the ESOP cost which amounts to around 13% increase.”
equity: Equity yield about 63-64 bps; debt yield about 24-25 bps
Pradeep Sharma · Chief Financial Officer · Q&A · p. 8
equity: Equity yield about 63-64 bps; debt yield about 24-25 bps
“As far as yields are concerned, equity, it is in the similar range of 63, 64 basis points. Debt is around 24 to 25 basis points.”
liquid: Liquid yield 12-13 bps; ETF yield around 8 bps
Pradeep Sharma · Chief Financial Officer · Q&A · p. 8
liquid: Liquid yield 12-13 bps; ETF yield around 8 bps
“Liquid is in two in the range of 12 to 13 basis points, and ETF around 8 basis points.”
EPFO, ESIC mandates: EPFO and ESIC mandate yields are expense-neutral
Pradeep Sharma · Chief Financial Officer · Q&A · p. 8
EPFO, ESIC mandates: EPFO and ESIC mandate yields are expense-neutral
“actually this yield are actually expense-neutral.”
EPFO, ESIC mandates: Mandates cost-neutral as existing team will manage them
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 8
EPFO, ESIC mandates: Mandates cost-neutral as existing team will manage them
“Second is while it's a cost-neutral, because the existing team only will be managing it.”
Debt and working capital
Treasury investment book about Rs 2,890 crore, largely debt funds and corporate bonds
Pradeep Sharma · Chief Financial Officer · Q&A · p. 18
Treasury investment book about Rs 2,890 crore, largely debt funds and corporate bonds
“₹2,890 crores as of today, our investment treasury book which we which is deployed across largely into debt mutual funds and corporate bonds”
Equity is about 17-18% of the treasury book
Pradeep Sharma · Chief Financial Officer · Q&A · p. 19
Equity is about 17-18% of the treasury book
“and equity share is it between around 17% to 18%, rest is all debt and corporate bonds”
Fund raising
real estate: Real Estate Credit Opportunities Fund Series 2 fundraising, intended close by December
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 15
real estate: Real Estate Credit Opportunities Fund Series 2 fundraising, intended close by December
“clearly Real Estate Credit Opportunities Fund Series 2, right now we are in the fundraising, intend to close it by December”
GIFT City: Fundraising underway for GIFT City ABSL Flexi Cap Fund for inward remittance
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 5
GIFT City: Fundraising underway for GIFT City ABSL Flexi Cap Fund for inward remittance
“Fundraising is underway for the ABSL Flexi Cap Fund which is for inward remittance.”
Acquisitions and new business
alternates: Fundraising underway for special and structured opportunities, money managers and India selector funds
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 5
alternates: Fundraising underway for special and structured opportunities, money managers and India selector funds
“We currently have fundraising underway for our special opportunities and structured opportunities, money managers fund and India selector fund”
GIFT City: Retail fund offering launched at GIFT City for inbound and outbound investing
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 5
GIFT City: Retail fund offering launched at GIFT City for inbound and outbound investing
“At GIFT City, we have launched our retail fund offering enabling Indian and global investors to access inbound and outbound investment opportunities through a dedicated retail platform.”
passives: Launched BSE Total Market Cap Index Fund and ETF, first in India
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 6
passives: Launched BSE Total Market Cap Index Fund and ETF, first in India
“We are the first in India to launch BSE Total Market Cap Index Fund and BSE Total Market Cap ETF, the pioneering a new category in the passive investment landscape”
Financial Services Sectoral Debt Fund launched as open-ended product
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 15
Financial Services Sectoral Debt Fund launched as open-ended product
“And third is the we have launched a Financial Services Sectoral Debt Fund given the fact that yields have gone up”
GIFT City: GIFT City Emerging Market Fund for outward LRS remittances
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 15
GIFT City: GIFT City Emerging Market Fund for outward LRS remittances
“From the GIFT City, we have two product, one for Emerging Market Fund which is outward remittances LRS.”
One-offs
Last year's employee cost had a one-time Rs 6 crore provision reversal
Pradeep Sharma · Chief Financial Officer · Q&A · p. 6
Last year's employee cost had a one-time Rs 6 crore provision reversal
“And second is actually last year, last year number there was an old provision reversal of ₹6 crores in last year numbers.”
Risks
ELSS, large-cap: Some outflows in ELSS and to some extent large-cap, in line with industry
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 7
ELSS, large-cap: Some outflows in ELSS and to some extent large-cap, in line with industry
“Though, we see the category in which generally the level of interest is low, like ELSS scheme where we have seen some bit of outflow along with industry, even the large-cap to some extent”
RBI raised repo rate by 25 bps to 5.5% in October policy
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 3
RBI raised repo rate by 25 bps to 5.5% in October policy
“In its October policy, the RBI raised the repo rate by 25 basis points to 5.5% and signaled a more cautious stance on inflation while reaffirming confidence in the growth trajectory.”
EPFO, ESIC mandates: Winning this mandate gives no automatic advantage in other government mandates
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 13
EPFO, ESIC mandates: Winning this mandate gives no automatic advantage in other government mandates
“Therefore, it doesn't give us any added advantage that, okay, we have won this mandate, therefore all other mandates will become natural.”
direct channel: Direct channel needs faster growth, management says
A. Balasubramanian · Managing Director and Chief Executive Officer · Q&A · p. 16
direct channel: Direct channel needs faster growth, management says
“But of course, it needs a little more aggressive growth momentum.”
Other
Overall average AUM incl. alternate assets at Rs 11.06 lakh crore, up 140% year-on-year
₹11,06,000CrA. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
Overall average AUM incl. alternate assets at Rs 11.06 lakh crore, up 140% year-on-year
₹11,06,000Cr“crossed ₹11 lakh crores milestones this quarter, and now stands at ₹11.06 lakh crores, a growth of 140% year-on-year.”
mutual fund: Mutual fund quarterly average AUM at Rs 4.42 lakh crore, up 4% year-on-year
₹4,42,000CrA. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
mutual fund: Mutual fund quarterly average AUM at Rs 4.42 lakh crore, up 4% year-on-year
₹4,42,000Cr“Our mutual fund quarterly average AUM stood at ₹4.42 lakh crores, up by 4% year-on-year”
equity mutual fund: Equity mutual fund quarterly average AUM about Rs 2.09 lakh crore, up 9% year-on-year
₹2,09,000CrA. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
equity mutual fund: Equity mutual fund quarterly average AUM about Rs 2.09 lakh crore, up 9% year-on-year
₹2,09,000Cr“our equity mutual fund quarterly average AUM stood at approximately ₹2.09 lakh crores, growing by 9% year-on-year. Our equity mix for the quarter stood at 47.4%.”
SIP contribution Rs 1,094 crore in September 2026 from 41.7 lakh SIP accounts
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
SIP contribution Rs 1,094 crore in September 2026 from 41.7 lakh SIP accounts
“Our SIP contribution for September 2026 stood at ₹1,094 crores supported by 41.7 lakh folio contributing SIP accounts.”
Investor folios 1.14 crore, up 6%; about 7.05 lakh new SIP registrations in quarter
A. Balasubramanian · Managing Director and Chief Executive Officer · p. 4
Investor folios 1.14 crore, up 6%; about 7.05 lakh new SIP registrations in quarter
“Our total investors folio for September 2026 stood at 1.14 crores, up 6% year-on-year with the new SIP registration for the quarter at about 7.05 lakhs approximately.”
Sources
- Earnings call transcript, Q2 FY27 Filed 27 Oct 2026 · 19 pages
Management's own statements, quoted from its NSE filings. This page was read by AI and can contain mistakes: check the source pages before relying on any figure. No forecast or opinion of ours. Not investment advice.

