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Loan Against Property

JM Financial's loan against property is designed to meet the financial needs of a person to get loan at low interest to meet your current financial requirements. To know more about availing loan against property click jmfl.com

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Loan Against Property

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  1. JM Financial Limited Q3 FY17 Results Update

  2. Safe Harbour This presentation and the following discussion may contain “forward looking statements” by JM Financial Limited (“JM Financial” or “JMFL” or the “Company”) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial condition, business prospects, plans and objectives are based on the current beliefs, assumptions, expectations, estimates and projections of the management of JMFL about the business, industry and markets in which JMFL operates. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond JMFL’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not and should not be construed as a representation of future performance or achievements of JMFL. In particular, such statements should not be regarded as a projection of future performance of JMFL. It should be noted that the actual performance or achievements of JMFL may vary significantly from such statements. 2

  3. Table of Contents Q3 FY17 Result Update – Group Performance Q3 FY17 Result Update – Business Performance Group Structure and Shareholding Pattern Group Overview Annexures 3

  4. Key Highlights – Consolidated Performance Revenues Revenues PBT PBT Net Profit Net Profit EPS* EPS* ROA* ROA* ROE* ROE* Q3 FY17 Q3 FY17 594 Cr 245 Cr 119 Cr 1.50 1.2% 3.9% 39% 38% 1% 426 Cr 178 Cr 117 Cr 1.49 1.6% 4.2% Q3 FY16 Q3 FY16 Revenues Revenues PBT PBT Net Profit Net Profit EPS EPS ROA ROA ROE ROE 9M FY17 9M FY17 1,634 Cr 645 Cr 319 Cr 4.04 4.6% 14.3% 35% 31% 11% 1,210 Cr 492 Cr 287 Cr 3.64 5.5% 14.5% 9M FY16 9M FY16 * Not annualized ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 4

  5. Key Highlights – Quarterly Trend Gross Revenues (Rs Cr) Net Profit (Rs Cr) 594 564 119 117 477 475 115 114 426 86 Q3 FY16 Q4 FY16 Q1 FY17 Revenues Q2 FY17 Q3 FY17 Q3 FY16 Q4 FY16 Q1 FY17 Net Profit Q2 FY17 Q3 FY17 Leverage Analysis (Rs Cr) Return Ratios (%)* 4.2% 4.0% 2.1 2.1 3.9% 3.9% 1.9 1.8 1.6 3.0% 4,199 4,027 3,473 3,594 1.6% 3,457 1.4% 1.3% 1.2% 1.1% 8,401 6,586 8,718 6,671 5,638 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 D / E Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 ROE % Q3 FY17 Debt Equity + Minority Interest ROA % * Not annualized ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 5

  6. Consolidated Profit & Loss Statement Particulars (Rs Cr) Q3 FY17 Q3 FY16 YoY % 39% Q2 FY17 QoQ % 594 5% 426 564 Gross Revenue 21 7% -12% 20 24 Sub-brokerage 81 27% 2% 64 79 Employee cost 41 66% 27% 25 33 Operating cost 199 48% 3% 134 193 Finance cost 6 15% 5% 5 6 Depreciation 245 38% 7% 178 229 PBT 82 34% 4% 61 78 Tax Expense 164 40% 9% 117 151 PAT 0 -100% -96% 33 6 Share in profit of Associates 164 9% 4% 150 157 PAT before Minority Interest -45 38% 6% -33 -43 Minority Interest 119 1% 3% 117 115 PAT after Minority Interest ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 6

  7. Consolidated Profit & Loss Statement Particulars (Rs Cr) 9M FY17 1,634 9M FY16 1,210 YoY % 35% FY16 1,685 Gross Revenue 59 71 20% 77 Sub-brokerage 192 226 17% 264 Employee cost 79 107 35% 118 Operating cost 373 568 52% 512 Finance cost 15 17 13% 20 Depreciation 492 645 31% 693 PBT 164 219 33% 222 Tax Expense 327 427 30% 470 PAT 12 -77% 55 50 Share in profit of Associates 438 16% 526 377 PAT before Minority Interest -119 31% 125 -91 Minority Interest 319 11% 400 287 PAT after Minority Interest ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 7

  8. Consolidated Balance Sheet As at As at Particulars (Rs Cr) December 31, 2016 March 31, 2016 Equity and Liabilities Shareholders’ funds 3,138 2,804 Minority interest 1,061 669 Borrowings 8,718 6,671 Other liabilities and provisions 1,516 812 TOTAL 14,433 10,956 Assets Loan book 8,990 7,214 Security receipts 1,510 7 Investment in associates 7 269 Treasury fund 1,239 1,962 Arbitrage and trading book 624 316 Fixed assets 377 340 Other assets 848 1,686 14,433 TOTAL 10,956 Consequent upon JM Financial Asset Reconstruction Company Private Limited (the ARC) becoming a subsidiary of the JM Financial Limited w.e.f. September 30, 2016, the figures in the balance sheet are consolidated on a line by line basis on December 31, 2016 8

  9. Borrowing Profile Borrowing Breakup – December 2016 Borrowing Breakup – December 2015 Others 377 7% Short Term Loans from Banks 185 3% Others 426 5% Short Term Loans from Banks 296 3% Terms Loans 647 11% Terms Loans 1,568 18% Commercial Papers 4,194 48% Non Convertible Debentures 940 17% Commercial Papers 3,489 62% Non Convertible Debentures 2,234 26% Total: Rs 8,718 Cr Total: Rs 5,638 Cr Strong Credit Rating: • Long term debt rating: – CRISIL AA STABLE – ICRA AA STABLE – India Ratings AA STABLE – India Ratings AA STABLE Strong Credit Rating: • Long term debt rating: – CRISIL AA STABLE – ICRA AA STABLE • Short term debt rating: – CRISIL A1+ – ICRA A1+ – ICRA A1+ • Short term debt rating: – CRISIL A1+ Near term focus on diversifying sources of funds and lenders’ profiles Near term focus on diversifying sources of funds and lenders’ profiles Consequent upon JM Financial Asset Reconstruction Company Private Limited (the ARC) becoming a subsidiary of the JM Financial Limited w.e.f. September 30, 2016, the figures in the balance sheet are consolidated on a line by line basis on December 31, 2016 9

  10. Table of Contents Q3 FY17 Result Update – Group Performance Q3 FY17 Result Update – Business Performance Group Structure and Shareholding Pattern Group Overview Annexures 10

  11. Sustainable growth – Oriented portfolio Revenue & PBT in ` ` ` ` Cr. • Corporate Finance Advisory M&A Advisory – domestic & cross border Private Equity Synd Equity Capital Markets - Debt Capital Markets Equity Research, Sales & Trading Wealth Management Financial Products Distribution 41% 19% 41% 16% 37% 24% 29% 11% 25% 12% • JM Financial is a four decade old institution founded by Mr. Nimesh Kampani Investment Banking, Securities and Wealth Management • 522 495 416 429 408 • 124 79 74 47 45 • • • • FY13 FY14 Revenue FY15 FY16 9M FY17 PBT • Servicing clients across the financial services spectrum 53% 72% 53% 71% 57% 67% 64% 79% 70% 84% • • • • Margin Financing Loan against property Loan against Shares Broker Funding • • • • Commercial Real Estate Debt Restructuring ESOP Funding Asset Reconstruction* 1,147 1,079 806 Fund based activities 552 529 549 539 347 200 183 • PAN India Presence FY13 FY14 FY15 FY16 9M FY17 Revenue PBT • Firm four-decade footprints - proven track record of growth & sustainability 3% 1% 3% 1% 3% 3% 5% 8% 4% 6% 86 63 47 56 Asset 27 39 • Mutual Funds 29 18 Management 2 4 FY13 FY14 FY15 FY16 9M FY17 • Pioneered innovative products in the financial services space Revenue PBT 3% 6% 3% 7% 2% 3% 1% 1% 0% -1% Alternative Asset Management 30 27 27 • • Real Estate Fund Private Equity Fund 19 16 15 13 3 4 • Trusted & preferred partner – client centric business model FY13 FY14 FY15 FY16 9M FY17 (7) Revenue PBT 319 214 • Acquisition of Bank NPA’s and resolution thereof (Revenue and PBT from October 1, 2016 is part of Fund based activities) Asset 158 120 94 89 75 61 60 Reconstruction Business 33 FY13 FY14 FY15 FY16 H1 FY17 Revenue PBT • ARC forming part of Fund based activity post it became subsidiary with effect from September 30, 2016. % contribution of consolidated revenue % contribution of consolidated PBT 11

  12. JM Financial Limited In Rs Cr Fund based activities – Subsidiaries JM Financial Credit Solutions Ltd JM Financial Products Ltd JM Financial Asset Recons. Co. Pvt Ltd Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Revenue Net Profit Net worth Loan book Net Interest Margin Total assets ROE(not annualized) ROA(not annualized) Debt / Equity Ratio Ownership 180 54 1,351 4,122 6.3% 4,769 4.1% 1.1% 2.44 98.49% 154 45 1,214 3,396 6.3% 4,293 3.8% 1.1% 2.38 98.49% Revenue Net Profit Net worth Loan book Net Interest Margin Total Assets ROE(not annualized) ROA(not annualized) Debt / Equity Ratio Ownership 198 72 1,334 4,832 8.7% 4,866 5.5% 1.5% 2.55 50.01% 134 51 1,078 3,180 10.2% 3,261 4.8% 1.6% 1.96 50.01% Revenue Net Profit Net worth AUM Total assets ROE(not annualized) ROA(not annualized) Debt / Equity Ratio Ownership 47 148 65 515 8,382 1,138 13.4% 5.0% 1.04 50.00% 8 554 11,299 1,655 1.4% 0.5% 1.87 50.01% Fee Based activities – Subsidiaries IWS Business(2) Asset management Alternative asset management Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Revenue Net Profit Avg Daily TO Wealth AUM Research Coverage Capital Employed ROE(not annualized) Ownership 148 20 2,947 22,337 178 597 3.4% 100% 109 Revenue 22 24 Revenue 1 4 5 Net Profit 11 15 Net Profit -2 1 1,906 23,386 172 576 0.9% 100% Quarterly Avg AUM 13,522 15,868 AUM 680 851 Capital Employed 214 173 Capital Employed 79 82 ROE(not annualized) 5.3% 9.1% ROE(not annualized) - 1.1% Ownership 100% 100% Ownership 53.47% 53.47% Note 1. 2. Figures mentioned above are based on standalone financials IWS Business - Investment Banking, Wealth Management and Securities Business 12

  13. JM Financial Limited In Rs Cr Fund based activities – Subsidiaries JM Financial Credit Solutions Ltd JM Financial Products Ltd JM Financial Asset Recons. Co. Pvt Ltd 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 Revenue Net Profit Net worth Loan book Net Interest Margin Total Assets ROE (annualised) ROA (annualised) Debt / Equity Ratio Ownership 566 198 1,334 4,832 8.8% 4,866 21.4% 5.8% 2.55 50.01% 358 139 1,078 3,180 10.7% 3,261 18.4% 7.2% 1.96 50.01% Revenue Net Profit Net worth Loan book Net Interest Margin Total assets ROE(annualised) ROA(annualised) Debt / Equity Ratio Ownership 534 146 1,351 4,122 5.7% 4,769 15.2% 4.3% 2.44 98.49% 424 116 1,214 3,396 6.2% 4,293 13.3% 3.5% 2.38 98.49% Revenue Net Profit Net worth AUM Total assets ROE(annualised) ROA(annualised) Debt / Equity Ratio Ownership 141 29 554 278 99 515 8,382 1,138 28.3% 9.7% 1.04 50.00% 11,299 1,655 7.3% 2.6% 1.87 50.01% Fee Based activities – Subsidiaries IWS Business(2) Asset management Alternative asset management 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 Revenue Net Profit Avg Daily TO Wealth AUM Research Coverage Capital Employed ROE(annualised) Ownership 416 53 2,829 22,337 178 597 12.1% 100% 351 36 2,140 23,386 172 576 8.1% 100% Revenue 63 63 Revenue 3 9 Net Profit 30 35 Net Profit -7 2 Quarterly Avg AUM 13,522 15,868 AUM 680 851 Capital Employed 214 173 Capital Employed 79 82 ROE(annualised) 20.8% 31.0% ROE(annualised) - 3.8% Ownership 100% 100% Ownership 53.47% 53.47% Note 1. 2. Figures mentioned above are based on standalone financials IWS Business - Investment Banking, Wealth Management and Securities Business 13

  14. Segment performance Segment revenue (Rs Cr) Q3 FY17 Q2 FY17 QoQ Q3 FY16 YoY Investment Banking, Wealth Management and Securities Business 148 145 2% 109 36% Fund Based Activities 425 395 8% 288 47% Alternative Asset Management 1 1 -36% 4 -83% Asset Management 22 24 -9% 24 -11% Others 32 77 -59% 17 91% Total Segment Revenue 627 641 -2% 441 42% Less: Inter - segmental revenue 33 77 -58% 15 117% Total Revenue 594 564 5% 426 39% Segment PAT (Rs Cr) Q3 FY17 Q2 FY17 QoQ Q3 FY16 YoY Investment Banking, Wealth Management and Securities Business 20 18 11% 5 - Fund Based Activities 93 94 -2% 102 -9% Alternative Asset Management -2 -3 -20% 2 - Asset Management 6 7 -9% 8 -27% Others 2 -2 - 0 - Total 119 115 3% 117 1% ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 14

  15. Segment performance Segment revenue (Rs Cr) 9M FY17 9M FY16 YoY FY16 Investment Banking, Wealth Management and Securities Business 416 351 18% 495 Fund Based Activities 1,147 782 47% 1,079 Alternative Asset Management 3 9 -62% 13 Asset Management 63 63 1% 86 Others 139 143 -3% 194 Total Segment Revenue 1,768 1348 31% 1,866 Less: Inter - segmental revenue 134 138 -3% 181 Total Revenue 1,634 1210 35% 1,685 Segment PAT (Rs Cr) 9M FY17 9M FY16 YoY FY16 Investment Banking, Wealth Management and Securities Business 53 36 47% 54 Fund Based Activities 258 230 12% 315 Alternative Asset Management -7 2 - 4 Asset Management 17 20 -14% 25 Others -1 -1 -13% 3 Total 319 287 11% 400 ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 15

  16. Investment Banking, Wealth Management & Securities business Investment Banking Wealth Management Securities business Wealth AUM of Rs 22,337 Cr with strong team of 71 wealth advisors Worldwide institutional reach - dominant global & local institutional franchise ? ? ? ? ? ? ? ? • • • Over 4 decades of leadership - ECM / DCM / Corp. Fin. / M&A Advisory Private Equity Syndication ? ? ? ? Presence - Mumbai, Delhi, Bangalore, Ahmedabad, Pune, Kolkata & Hyderabad Institutional distribution strength - We cover 200 funds across regions ? ? ? ? ? ? ? ? Innovative structuring and execution of complex, challenging deals and restructuring of corporate groups & businesses ? ? ? ? Client-oriented approach, customised long- term asset allocation strategy, unbiased investment solutions Extensive research coverage of 178 companies ? ? ? ? ? ? ? ? Strong long-term Indian Corporate relationships ? ? ? ? Coverage of broking segment Locations: 269, Cities: 114 , Franchisees: 211 Client service across all segments - Investment Banking, Corporate Finance etc. Strong track record of landmark M&A transactions ? ? ? ? ? ? ? ? ? ? ? ? Best-in-Class Execution Team with focus on client satisfaction ? ? ? ? Avg. daily turnover in Q3 FY17 – Rs.2,947cr, (incl. cash segment of Rs 714 cr) ? ? ? ? Focus on growing discretionary assets ? ? ? ? JM Financial Institutional Securities Ltd has emerged as ‘QIP Dealmaker of the Year’ in the Business World-PWC I-banking Survey 2016. Market Share on NSE in Q3 FY17 – overall 0.67%, 3.09 % cash segment ? ? ? ? ? ? ? ? ? ? ? ? Over 8,300 active IFDs Particulars (Rs Cr) Capital Employed Revenue Employee Cost Other Expenses PBT PAT Q3 FY17 597 148 50 71 27 20 Q3 FY16 576 109 42 56 10 5 YoY % 4% 36% 19% 27% 163% 313% Q2 FY17 575 145 51 67 27 18 QoQ % 4% 2% -3% 1% 1% 11% 9M FY17 597 416 145 196 75 53 9M FY16 576 351 126 171 55 36 YoY % 4% 18% 16% 15% 36% 47% FY16 558 495 186 230 79 54 ROE (%) 3.4% 0.9% 3.2% 12.1% 8.1% 9.3% * ROE for the quarter is not annualized and Year to date is annualized 16

  17. Investment Banking, Wealth Management & Securities business Wealth Management & Broking • BRLM for Initial Public Offer of PNB Housing Finance Limited – ~Rs 3,000 crore. Wealth Management AUM (Rs Cr) 26,958 23,755 22,337 • Sole financial advisor to Tata Power Company Limited on acquisition of renewable assets portfolio of Welspun Energy Private Limited by Tata Power Renewable Energy Limited. This represents one of the largest deals in the power sector in India. 23,386 21,895 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 • Advisor to the Essar Group on the sale of controlling interest in Essar Oil to Rosneft. Average Daily Turnover (Rs Cr) • Exclusive financial advisor to Browntape Technologies on the fund raising from Gati Ltd. 2,400 2,233 • Exclusive sell-side advisor to Encyclopaedia Britannica Inc. on the sale of India curriculum business to Navneet Education Ltd. 1,734 1,536 1,352 790 714 615 591 555 • Sole arranger for a Rs. 500 cr mortgage backed debentures funding against inventory of residential apartments for Lodha Developers. Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Avg Cash (Rs. Cr) Avg FAO (Rs. Cr) Equity Market Share on NSE (%) 3.20 3.12 3.09 3.00 2.83 0.78 0.78 0.72 0.67 0.64 0.61 0.58 0.64 0.55 0.51 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Cash Market Share FAO Market Share Overall Market Share 17

  18. Fund Based Activities Fund Based Activities Corporate / Wholesale lending & Loan against Shares Real Estate Lending • This business is undertaken by JM Financial Products Ltd. – 98.5% owned NBFC of the JM Financial Group. • It enjoys the highest short-term credit rating of A1+ from CRISIL as well its “CRISIL AA/ Stable” rating for long term NCD issuances and bank loans. • This business is undertaken by JM Financial Credit Solutions Ltd. – 50.01% owned NBFC of the JM Financial Group. • Vikram Pandit & Associates own 49.99% stake in form of a long-term strategic partnership. Lending to clients of traditional businesses Lending to new clients using Technology as enabler Provides an integrated financial solution to real estate developers with major focus on real estate project financing. ? • Corporate loans • Structured loans • Bridge loans • Acquisition financing • Promoter loans • Partner with new age Fin tech platforms with 3-5 year view Corporate clients Loan book Rs.675 Cr Investments Rs.7 Cr Lending book has grown from Rs 1,844 cr in the beginning of FY16 to Rs 4,832 cr as on 31stDecember 2016 which includes Rs.4,769 cr real estate. ? • Loan against Property • Loan against Security • ESOP Funding • IPO Financing • Broker Funding • Margin Trade Funding Wealth Clients Loan book Rs.1,500 Cr • 55 groups – significant focus on repeat business • Most of the clients with over 25 years of experience in the industry • Loans to SME with robust credit analysis & recovery mechanism SME Lending* • Focus on Tier I markets – Mumbai, Bengaluru, Pune and Chennai – Loan disbursements of 54% in Mumbai, 17% Bengaluru, 12% Pune, 13% Chennai and others ? RE Clients Loan book Rs.1,914 Cr • 88% of the book is cashflow backed lending • 76% of the book is against residential projects • Overflow of loans from RE lending arm • Provide home loans to retail customer with a focus on affordable segment (Filed application with NHB) Housing Finance* Prominent Relationships – Kalpataru, RMZ, Embassy, Kanakia, Peninsula, Adarsh, Goel Ganga, Rajesh Lifespaces and Lodha amongst others. ? Both NBFCs are notified under SARFAESI Act 18 *To be built over a period of next 12 months

  19. Fund Based Activities (Financing & Lending) Loan Book (Rs Cr) NIM Analysis (%) 6,550 7,214 7,334 8,479 8,990 2,308 2,289 15.0% 14.9% 14.8% 14.2% 14.1% 1,664 1,586 2,136 10.1% 9.8% 9.5% 9.3% 9.2% 6,682 6,190 5,670 5,629 8.1% 7.7% 4,413 7.5% 7.1% 6.9% Q3 FY16 Q4 FY16 Real Estate Q1 FY17 Corporate and Capital Market Q2 FY17 Q3 FY17 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Yield % COF % NIM % Gross & Net NPA (%) Return Ratios & Capital Adequacy (%) 0.3% 32.3% PCR – 93 % 28.8% 27.6% 27.3% 0.3% 26.8% 0.2% 0.2% 0.2% 0.2% 5.0% 4.8% 4.8% 4.3% 3.9% 0.2% 0.1% 1.4% 1.4% 1.3% 1.3% 1.1% 0.0% 0.0% Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Gross NPA % Net NPA % ROA % ROE % CRAR % * ROA and ROE Not annualized 19

  20. Asset Reconstruction Business Overview Long Term Positive Drivers Highest capitalized private sector ARC with Long Term Credit Rating of AA- and Short Term Credit Rating of A1+ by CRISIL and ICRA • RBI’s Financial Stability Report states that the overall Stressed Advances Ratio has increased to 12.3% in Sept 2016 from 11.5% in March 2016 • RBI’s actions over bank NPA’s expected to increase the sell-down of distressed assets to ARCs ? ? ? ? ? ? ? ? This Management Fees, Interest income and upside / yield business has multiple income streams like ? ? ? ? • Recent recovery and resolution of bad debts by Banks, NBFCs and Financial Institutions regulatory changes aims at faster Current AUM of ~Rs 11,299 Cr comprising Individual Corporate Accounts and Corporate/SME/ Retail Portfolios ? ? ? ? • Insolvency and Bankruptcy Code - provides for a specialized forum to oversee all insolvency and liquidation proceedings Business related activities such as Financial & Legal due diligence for acquisitions, resolutions and document storage etc are conducted by only in-house resources and not outsourced ? ? ? ? ? ? ? ? • Capital commitments by global players adding stimulus to the sector’s capital requirement Focus on Restructuring and Revival of Corporate Accounts. Consistent market share of 17% - 18% in the last 5 years • With the various regulatory measures, the outlook for the business remains promising ? ? ? ? Particulars (Rs Cr) Q3 FY17 Q3 FY16 YoY % Q2 FY17 QoQ % 9M FY17 9M FY16 YoY % FY16 Capital Employed 554 515 8% 547 1% 554 515 8% 525 Revenue 47 148 -70% 51 -8% 141 278 -55% 319 PBT 12 96 -88% 20 -42% 45 146 -69% 158 PAT 8 65 -88% 13 -42% 29 99 -70% 108 ROA (%) 0.5% 5.0% 0.9% 2.6% 9.7% 7.4% ROE (%) 1.4% 13.4% 2.4% 7.3% 28.3% 23.0% * ROA and ROE for the quarter is not annualized and Year to date is annualized 20

  21. Asset Reconstruction AUM (Rs Cr) Asset Acquisitions (Rs Cr) 1,503 1,283 1,226 1,200 1,008 241 229 92 56 0 9,820 11,299 10,351 9,792 8,382 1,488 984 615 374 0 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 ARC's AUM JM's share in ARC's AUM Assets Acquired by ARC JM's share in acquisition Net Profit (Rs Cr) Return Ratios (%) 13.4% 65 5.0% 2.4% 1.7% 1.8% 1.4% 13 9 0.7% 9 0.9% 8 0.8% 0.5% Q3 FY16 Q4 FY16 Q1 FY17 PAT Q2 FY17 Q3 FY17 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 ROE % Q3 FY17 ROA % * ROA and ROE Not annualized 21

  22. Fund Based Activities (including ARC) Particulars (Rs Cr) Q3 FY17 Q3 FY16 YoY % Q2 FY17 QoQ % 9M FY17 9M FY16 YoY % FY16 Capital Employed 3,147 2,454 28% 3,014 4% 3,147 2,454 28% 2,560 Loan Book 8,990 6,550 37% 8,479 6% 8,990 6,550 37% 7,214 Gross revenue 425 288 47% 395 8% 1,147 782 47% 1,079 Interest Expense 180 119 51% 175 3% 514 324 59% 450 Net Interest Income 245 169 45% 220 11% 633 458 38% 629 Employee Expenses Other Operating Expenses Provisions / Bad Debts 20 15 32% 14 41% 45 42 5% 34 15 7 101% 13 12% 40 21 91% 38 6 0 -1310% 1 384% 9 5 82% 8 PBT 205 147 39% 192 7% 539 390 38% 549 Tax PAT before Minority Interest Minority Interest Share of Profit from Associates PAT after Minority Interest 71 51 40% 67 7% 188 135 39% 184 133 96 39% 125 7% 352 255 38% 365 40 26 55% 37 9% 105 74 42% 104 0 32 -100% 6 -100% 11 49 -78% 54 93 102 -9% 94 -2% 258 230 12% 315 ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016. 22

  23. Alternative Asset Management Private Equity: Real Estate: Alternative Asset Management AUM (Rs Cr) • AUM on December 31, 2016 – Rs 475 Cr. • AUM on December 31, 2016 – Rs 205 Cr. Total AUM 751 708 680 851 773 • No. of investments – 13. • No. of investments – 13. 233 • No. of Exits – 7 full • No. of Exits – 5 full and 2 part. 233 233 233 205 • Fully drawn down & invested • Fully drawn down & invested • Amount distributed till date – Rs 722 Cr. 618 • Amount distributed till date – Rs 224 Cr. 518 540 475 475 • In advance stage for launch of PE fund II and application has been with SEBI Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 Particulars (Rs Cr) Capital Employed Revenue Q3 FY17 79 1 Q3 FY16 82 4 YoY % -4% -83% Q2 FY17 79 1 QoQ % 0% -36% 9M FY17 79 3 9M FY16 82 9 YoY % -4% -62% FY16 83 13 Employee Cost 2 1 2 5 3 5 Other Expenses 1 1 2 5 3 4 PBT PAT -2 -2 2 1 - - -3 -3 - - -7 -7 3 2 - - 4 4 ROE (%) - 1.1% - - 3.8% 4.5% * ROE for the quarter is not annualized and Year to date is annualized 23

  24. Asset Management Asset Management AUM (Rs Cr) Mutual Fund: • Quarterly Average AUM (QAAUM) – Rs 13,522 cr. 16,161 13,522 15,868 12,756 13,612 • Rank (QAAUM) – 18 among 43 Mutual Funds. • Market Share – 0.80 %. 5,441 6,081 • 17 Schemes categorized as Long Term Debt, Short Term Debt, Balance, Equity Arbitrage and Equity. 6,873 6,677 6,503 • Investor reach - 135,025 base, 17 branches & 81 service centres. 10,427 10,080 6,253 6,739 6,845 • As per a recent analysis done by Value Research (Mutual Fund Insight Nov 2016 edition), 82% of JM Financial Mutual Fund's assets have beaten the benchmark over the past 3 years and also the 2nd highest in terms of % assets beating the benchmark (for AMC’s with Q3 FY16 Q4 FY16 Q1 FY17 Equity Q2 FY17 Debt Q3 FY17 over Rs.10,000 over Rs.10,000 cr AUM) AUM) Note: Equity AUM for Q3 FY17 include arbitrage fund of Rs. 3,429 Cr Particulars (Rs Cr) Capital Employed Revenue Employee Cost Other Expenses PBT PAT Minority Interest Share of Profit from Associates PAT after Minority Interest Q3 FY17 214 22 5 2 14 11 -5 Q3 FY16 173 24 4 2 18 15 7 YoY % 23% -11% 33% 34% -25% -27% - Q2 FY17 203 24 6 2 15 12 -5 QoQ % 5% -9% -12% 4% -10% -10% - 9M FY17 214 63 18 7 39 30 -14 9M FY16 173 63 14 5 44 35 -16 YoY % 23% 1% 31% 32% -12% -14% - FY16 183 86 22 7 56 44 -21 0 0 - 0 - 1 1 - 1 6 8 -27% 7 -9% 17 20 -14% 25 ROE (%) 5.3% 9.1% 6.2% 20.8% 31.0% 28.7% * ROE for the quarter is not annualized and Year to date is annualized 24

  25. Table of Contents Q3 FY17 Result Update – Group Performance Q3 FY17 Result Update – Business Performance Group Structure and Shareholding Pattern Group Overview Annexures 25

  26. Organisational Structure JM Financial Limited Core Investment Holding Co. 100% 100%1 53.57% 98.49%2 50.01% 50.01%3 100% 100% 100% JM Financial Institutional Securities Ltd. JM Financial Asset Management Ltd. JM Financial Asset Reconstruction Co. Pvt. Ltd. JM Financial Credit Solutions Limited JM Financial Properties and Holdings Ltd. JM Financial Investment Managers Ltd Infinite India Investment Mgmt Ltd. JM Financial Services Ltd. JM Financial Products Ltd. (Merchant Banking & Institutional equity) (Stock Broking & Investment Advisory) (Private Equity Asset Mgmt.) (Real Estate Asset Mgmt) (Property Holding) (Mutual Fund Management) (Asset (NBFC) (NBFC) Reconstruction) 100% 25% 100% 100% 100% 60% JM Financial Overseas Holdings Pvt. Ltd. JM Financial Trustee Company Pvt. Ltd JM Financial Commtrade Ltd CR Retail Malls (India) Ltd. 40% JM Financial Capital Limited Astute Investments (Rental of Property) (Mauritius Investment Advisor) (Commodity Broking) (Trusteeship) 100% 100% JM Financial Singapore Pte Ltd Holding Co SEBI Regulated RBI Regulated JM Financial Securities Inc. Singapore Corporate Finance Advisory & Financial Advisory) Companies outside India (USA) Others Note Includes Equity + CCPS Note 1. JM Financial Institutional Securities Limited, wholly owned subsidiary of the Company holds 9 % in JM Financial Services Limited. 2. JM Financial Institutional Securities Ltd and JM Financial Services Ltd. holds 4.245% each in JM Financial Products Limited. 3. JM Financial Asset Reconstruction Company Pvt. Ltd. became subsidiary of JM Financial Limited with effect from September 30, 2016. 26

  27. Shareholding Summary Share Price Performance Market Information (BSE) As on 20.01.2017 5,644 Market Capitalization (Rs Cr) 100 80 71.10 Price (Rs) 60 79.37 No. of Shares Outstanding (Cr) 40 20 90.90 – 33.40 52 Week High-Low (Rs) Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Key Institutional Investors – As on December 31, 2016 % Holding % Shareholding – December 31, 2016 4.69% Morgan Stanley Asia (Singapore) Pte Non- Financial Institutions / Banks, 0.04% Institutions, 17.09% Valiant Mauritius Partners Ltd & Associates 3.93% 2.76% Azim Hasham Premji Mutual Funds, 2.65% 2.62% IDFC Premier Equity Fund Promoter & Promoter Group, 65.33% Foreign Portfolio Investors, 14.89% 2.54% TIMF Holdings 1.47% Vikram Shankar Pandit Source – Company 27

  28. Table of Contents Q3 FY17 Result Update – Group Performance Q3 FY17 Result Update – Business Performance Group Structure and Shareholding Pattern Group Overview Annexures 28

  29. Key Milestones We have taken many pioneering initiatives in the Indian financials market space 1973 – 1986 1997 – 2006 1999 : • Formed a joint venture with Morgan Stanley in the areas of Banking and Securities business. 2002-2006 : • Managed India’s first IPO through Book Building. • Recorded 3 firsts in India - first Indian dual tranche FCCB issue, first billion dollar IPO, first conditional IPO. • Launched Private Equity Fund. 1973: • 1979-1980 : • Filed First offer document for listing securities of an Indian client with FSA, London. • First to introduce fully convertible debentures in Indian capital markets. 1986: • JM Financial Limited (holding company) incorporated to engage in the business of Stock Broking and Securities. Investment JM Financial & Investment Consultancy Services established in Mumbai. OUR JOURNEY – EVOLUTION INTO A FULL-FLEDGED DIVERSIFIED FINANCIAL SERVICES FIRM 1987-1996 2007-2017 2007: • • • 2008-17 : • Floated Housing Finance Company (HFC) and applied to NHB. • Announced the appointment of Mr. Vishal Kampani as MD of JM Financial Ltd; Mr. Nimesh Kampani continues to be the non-executive Chairman of the Group and a director on the Board of Directors of a few Group Companies at JM Financial. • Announced Real Estate NBFC in partnership with an fund managed Mr. Vikram Pandit & Associates. • Established step down subsidiary in the USA to cater to and service overseas clients/investors • Commenced Asset Reconstruction Business. • Expanded business in International Jurisdictions and operations in Fixed Income business • Managed India’s first IDR issue. 1987-1996 : • First to introduce equity warrants in the Indian capital markets. • First to introduce Deep Discount Bond in Indian capital markets. • Managed four transactions of Securities Offerings in excess of Rs. 100 cr each, a size unmatched till then in Indian markets. • JM Financial Asset Management, the first private sector Mutual Fund, commenced operations. Separated from joint venture with Morgan Stanley. Acquired ASK Securities - a Institutional Securities Firm. Launched Real Estate Fund. 29

  30. Corporate Governance – Strong Board of Directors Mr. Nimesh Kampani, Chairman B. Com, FCA • Founder and Chairman of JM Financial Group, one of India’s leading financial services groups. • Made pioneering contributions to the Indian capital markets • Served as a member on several important committees like MoF, GoI, RBI, SEBI, BSE, NSE, CII, FICCI and ICAI • Serves As An Independent Director on the Board of several leading Indian companies. Mr. Vishal Kampani, Managing Director M.com, M. S. (Finance) from London Business School • Managing Director of JM Financial Ltd., the group’s flagship listed company. • Launched the Asset Reconstruction business in 2008 and the Real Estate Finance business in 2009. • Expanded the International Operations and built a global profile • Joined the JM Financial group in 1997 as an Analyst in the Merchant Banking Division and has since moved up the rank Mr. E. A. Kshirsagar, Independent Director B.Sc, FCA (England & Wales) • Specialist in corporate strategy and structure, disinvestments- central/state/private sector, feasibility studies for a variety of industries and the impact of legislations on business; • Serves on the Board of several reputed public limited companies. • BSC (Science), FCA (India), FCA (England & Wales). Dr. Vijay Kelkar, Independent Director B.Sc, M.S. from University of Minnesota, USA, Ph.D from University of California, Berkely, USA • Former Finance Secretary to the Government of India. He has also held several senior level positions in Govt. of India as well as International Organisations including International Monetary Fund • Awarded with Padma Vibhushan, the second highest civilian award • Serves on the Board of several reputed public limited companies. Mr. Keki Dadiseth, Independent Director FCA (England & Wales) • Worked with HUL for 27 years. • Member of strategic advisory board of Atos India Pvt Ltd, and senior advisor to Sony group in India. • Associated with various industry, educational, management and medical bodies. • Serves on the Board of several reputed public limited companies. Mr. Darius E. Udwadia, Independent Director B.A., M.A., LLB, • Founder partner, M/s. Udwadia & Udeshi, Solicitors & Advocates • Serves on the Board of several reputed public limited companies. • Vast experience and expertise in the areas like corporate law, mergers, acquisitions and takeovers, corporate restructuring, foreign collaboration, joint ventures, project and infrastructure finance, telecommunication, international loan and finance related transactions and instruments, real estate and conveyancing Ms. Jagi Mangat Panda, Independent Director B.Sc (Biology & Chemistry), Management Development Programme, Indian Institute of Management, Ahmedabad • Presently, Managing Director of Ortel Communications Limited • Has more than 19 years of experience in the media and broadcasting industry • Recognized as the ‘Young Global Leader’ at the World Economic Forum in 2008. Mr. Paul Zuckerman, Independent Director M.A. in Economics, Ph.D in Agricultural Economics • Has been associated with various international organisations, including World Bank and International Institute of Tropical Agriculture, Ibadan, Nigeria • Was Chairman, SG Warburg & Co., and was closely associated with Indian companies in the early days of globalisation In India. 30

  31. Effective Risk Management Framework Robust risk management architecture encompassing independent identification, measurement and management of risk across various businesses of the Group 1 2 Effective systems, processes and adequate review mechanism to actively monitor, manage and mitigate risks 3 Quarterly risk meetings of all businesses with Group Risk Committee "Risk Events Update" briefly describing 'Risk Identification', 'Risk Classification', 'Risk Assessment & Impact' and 'Remedial Action/ Risk Mitigation' aspects of all the identified risks are placed periodically (every six monthly) before the Board of Directors 4 Independent Internal Audit firms appointed to review and report on the business processes and policies in all operating companies of the Group 5 Internal Financial Controls (IFC) framework (as per provisions of the Companies Act, 2013) is laid-down which briefly highlights the Risk Control Matrices (RCMs) across the Group with a focus on Entity Level Controls 6 31

  32. Community Engagement At JM Financial, CSR extends beyond a statutory obligation The CSR Projects of the Group are implemented by its philanthropic arms viz. JM Financial Foundation (JMFF)and Kampani Charitable Trust (KCT) directly or in partnership with grassroot NGOs. These include : • Drought Relief – JMFF & KCT support rehabilitation of drought hit villages (10 villages in Beed district, Ambejogai Taluka of Maharashtra) • Vocational Skills Training – JMFF & KCT support a vocational skills training program in rural areas by way of mobile livelihood development centres (MLDC’s). These centres provide training in activities that result in local job opportunities, and even self-employment. • Environment Education - JMFF & KCT support an environment education program for underprivileged children that include nature trails, slide shows & quizzes which enrich their minds with learnings on the basics of environment, conservation and sustainability in daily life. • Education - JMFF & KCT support the campus development and operations of Ashoka University which is an independent non-profit private university under the Haryana Private Universities Act, 2006, that is engaged in providing Under Graduate and Post Graduate education to students. Employees volunteered their time and visited the drought hit villages, vocational skills program & participated in the environment education sessions . 32

  33. Community Engagement Firm belief in strengthening and uplifting the lesser privileged communities • JM Financial Foundation drives our community engagement initiatives that focus on – – Education – Healthcare – Disaster Relief – Promotion of Sport – Animal Care • JM Financial Foundation Walkathon – annual event where our clients & employees pledge their support for the under-privileged – fund-raiser inviting contributions towards the various causes supported by JM Financial Foundation • Employee volunteering at JM Financial - Sparsh - Employees aid the lesser privileged aged members of society and mentor children – Project Drishti – Contribution of glossy magazines to a school for the blind, these are used for preparing reading and learning material in Braille – Joy of Giving week –Blood donation camps are held, employees donate personal & household items, exhibition of festive items made by paraplegics is held 33

  34. Table of Contents Q3 FY17 Result Update – Group Performance Q3 FY17 Result Update – Business Performance Group Structure and Shareholding Pattern Group Overview Annexures 34

  35. Financial Summary – Consolidated Financials Gross Revenues (Rs Cr) Net Profit (Rs Cr) 400 1,685 331 1,403 1,007 210 1,042 874 183 121 FY12 FY13 FY14 Net Profit FY15 FY16 FY12 FY13 FY14 Revenues FY15 FY16 Leverage Analysis (Rs Cr) Return Ratios & Capital Adequacy (%) 2.4 15.3% 2,804 14.6% 2.1 1.9 1.7 10.3% 1.4 9.5% 2,438 1,976 6.6% 1,865 5.4% 5.3% 2,092 6,671 3.5% 3.2% 4,721 2.3% 4,196 3,122 2,987 FY12 FY13 Debt FY14 Equity FY15 FY16 FY12 FY13 FY14 FY15 ROE % FY16 D / E ROA % 35

  36. Financial Summary – Fund Based Activities Loan Book (Rs Cr) Net Disbursements (Rs Cr) 7,215 5,388 1,827 2,409 2,979 -26 3,005 911 2,094 105 1,586 938 2,784 2,543 1 1,471 603 648 5,629 308 208 1,605 1 2,279 (674) 2,845 1,676 (957) 1,374 726 (103) 418 FY12 FY13 Real Estate FY14 FY15 Capital Market FY16 FY12 FY13 Real Estate FY14 FY15 FY16 LAS Spread Analysis (%) Gross & Net NPA (%) Return Ratios & Capital Adequacy (%) 0.9% 0.8% PCR – 42 % 15.1% 15.0% 14.8% 14.8% 14.3% 28.8% 0.7% 21.7% 0.7% 25.6% 25.5% 16.7% 11.0% 10.8% 15.7% 10.3% 10.1% 14.6% 9.7% 15.2% 0.4% 11.5% 0.3% 4.9% 4.5% 0.1% 8.0% 3.1% 3.0% 2.4% 6.7% 0.2% 6.2% 0.2% 4.3% 4.2% FY12 FY13 FY14 FY15 FY16 NIM % 0.0% FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 ROE % FY15 FY16 Yield % COF % Gross NPA % Net NPA % ROA % CRAR % 36

  37. Financial Summary – Wealth Management, Alternative Asset Management, Asset Management, Asset Reconstruction Wealth Management AUM (RS Cr) Alternative Asset Management AUM (Rs Cr) 26,958 17,382 18,894 17,550 13,492 385 381 339 302 233 921 905 855 610 540 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 Private Equity Real Estate Asset Management AUM (Rs Cr) ARC AUM (Rs Cr) 1,461 6,283 6,585 6,561 11,353 14,891 1,227 5,726 584 6,975 340 9,820 8,398 205 9,165 6,031 5,555 6,103 3,647 4,378 758 1,083 728 FY12 459 FY14 554 FY13 Equity % FY12 FY13 FY14 FY15 FY16 FY15 Debt % FY16 ARC's AUM JM's share in ARC's AUM 37

  38. For Further Queries - Mr. Manish Sheth Mr. Nilesh Dalvi Group CFO IR Consultant Email: manish.sheth@jmfl.com Email: nilesh.dalvi@dickensonir.com Contact No: 022 66303461 Contact No: 9819289131 Ms. Karishma Mehta Mr. Mandar Kapse Investor Relations IR Consultant Email: karishma.mehta@jmfl.com Email: mandar.kapse@dickensonir.com Contact No: 022 66303585 Contact No: 9867550004 38

  39. ANNEXURE

  40. JM Financial Credit Solutions Rs crore Revenue Net Profit Net worth Loan book Net Interest Margin Total Assets ROE(not annualized) ROA(not annualized) Debt / Equity Ratio Ownership 9MFY17 9MFY16 FY16 FY15 566 198 1,334 4,832 8.8% 4,866 21.4% 5.8% 358 519 104 139 198 49 1,078 1,136 938 3,180 4,074 10.7% 10.4% 3,261 4,207 18.4% 19.0% 7.2% 6.5% 1,844 14.0% 1,856 10.3% 5.0% 2.6 2.0 2.6 1.0 50.01% 50.01% 50.01% 50.01%

  41. JM Financial Products Ltd - Rs crore Revenue Net Profit Net worth Loan book Net Interest Margin Total assets ROE(annualised) ROA(annualised) Debt / Equity Ratio Ownership 9M FY17 9M FY16 FY16 FY15 534 146 1,351 4,122 5.7% 4,769 15.2% 4.3% 2.44 98.49% 424 116 1,214 3,396 6.2% 4,293 13.3% 3.5% 2.38 2.46 3.01 98.49% 98.49% 559 167 1,206 3,143 6.0% 4,309 14.5% 3.8% 702 188 1,098 3,543 5.8% 4,549 18.2% 4.4% 90.00%

  42. JM Financial ARC - Rs crore Revenue Net Profit Net worth AUM Total assets ROE(annualised) ROA(annualised) Debt / Equity Ratio Ownership 9M FY17 9M FY16 FY16 319 108 525 417 9,820 1,340 23.0% 7.4% FY15 214 141 29 554 278 99 515 8,382 1,138 28.3% 9.7% 36 11,299 1,655 7.3% 2.6% 1.87 1.04 1.46 2.67 50.01% 50.00% 8,398 1,573 9.7% 3.2% 50.00% 50.00% Particulars (Rs Cr) Capital Employed Revenue PBT PAT ROA (%) ROE (%) Q3 FY17 554 47 12 8 0.5% 1.4% Q3 FY16 515 148 96 65 5.0% 13.4% Q2 FY17 547 51 20 13 0.9% 2.4% 9M FY17 554 141 45 29 2.6% 7.3% 9M FY16 515 278 146 99 9.7% 28.3% FY16 525 319 158 108 7.4% 23.0% FY15 417 214 60 36 3.2% 9.7% * ROE for the quarter is not annualized and Year to date is annualized

  43. Fund Based Activities (Rs Cr) Capital Employed Loan Book Gross revenue Interest Expense Net Interest Income Employee Expenses Other Operating Expenses Provisions / Bad Debts PBT Tax PAT before Minority Interest Minority Interest Share of Profit from Associates PAT after Minority Interest Q3 FY17 3,147 8,990 425 180 245 20 Q3 FY16 2,454 6,550 288 119 169 15 Q2 FY17 3,014 8,479 395 175 220 14 9M FY17 3,147 8,990 1,147 514 633 45 9M FY16 2,454 6,550 782 324 458 42 FY16 FY15 2,560 7,214 1,079 450 629 34 2,104 5,388 806 387 419 39 15 7 13 40 21 38 26 6 0 1 9 5 8 7 205 71 147 51 192 67 539 188 390 135 549 184 347 110 133 96 125 352 255 365 237 40 26 37 105 74 104 38 0 32 6 11 49 54 18 93 102 94 258 230 315 217 ARC figures in the statement of profit and loss are consolidated on line by line basis from October 1, 2016. The ARC was an “Associate” of JM Financial Limited till September 30, 2016.

  44. IWS Business - Rs crore Revenue Net Profit Avg Daily TO Wealth AUM Research Coverage Capital Employed ROE(annualised) Ownership 9M FY17 9M FY16 FY16 495 FY15 522 416 53 2,829 22,337 178 597 12.1% 100.0% 351 36 2,140 23,386 172 576 8.1% 100.0% 54 85 2,137 26,958 179 558 9.3% 100.0% 2,420 17,382 170 600 15.2% IWS Particulars (Rs Cr) Capital Employed Revenue Employee Cost Other Expenses PBT PAT ROE (%) Q3 FY17 597 148 50 71 27 20 3.4% Q3 FY16 576 109 42 56 10 5 0.9% Q2 FY17 575 145 51 67 27 18 3.2% 9M FY17 597 416 145 196 75 53 12.1% 9M FY16 576 351 126 171 55 36 8.1% FY16 558 495 186 230 79 54 9.3% FY15 600 522 165 233 124 85 15.2% * ROE for the quarter is not annualized and Year to date is annualized

  45. Asset management - Rs crore Revenue Net Profit Avg AUM Capital Employed ROE(annualised) Ownership 9M FY17 9M FY16 FY16 FY15 63 30 63 35 86 44 47 17 13,522 214 20.8% 53.5% 15,868 173 183 138 31.0% 28.7% 53.5% 53.5% 14,891 11,353 13.3% 53.5% Particulars (Rs Cr) Capital Employed Revenue Employee Cost Other Expenses PBT PAT Minority Interest Share of Profit from Associates PAT after Minority Interest ROE (%) Q3 FY17 214 22 5 2 14 11 -5 0 6 5.3% Q3 FY16 173 24 4 2 18 15 -7 0 8 9.1% Q2 FY17 203 24 6 2 15 12 -5 0 7 6.2% 9M FY17 214 63 18 7 39 30 -14 1 17 20.8% 9M FY16 173 63 14 5 44 35 -16 1 20 31.0% FY16 183 86 22 7 56 44 -21 1 25 28.7% FY15 138 47 17 12 18 17 -8 1 10 13.3% * ROE for the quarter is not annualized and Year to date is annualized

  46. Alt. Asset management - Rs crore 9M FY17 9M FY16 FY16 FY15 Revenue Net Profit AUM Capital Employed ROE(annualised) Ownership 3 9 2 13 27 4 11 773 912 83 85 4.5% 100% -7 680 79 851 82 3.8% 100% - 12.6% 100% 100% Particulars (Rs Cr) Capital Employed Revenue Employee Cost Other Expenses PBT PAT ROE (%) Q3 FY17 79 1 2 1 -2 -2 - Q3 FY16 82 4 1 1 2 1 1.1% Q2 FY17 79 1 2 2 -3 -3 - 9M FY17 79 3 5 5 -7 -7 - 9M FY16 82 9 3 3 3 2 3.8% FY16 83 13 5 4 4 4 4.5% FY15 85 27 5 7 15 11 12.6% * ROE for the quarter is not annualized and Year to date is annualized

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