. The company has posted strong 58% growth in the consolidated revenues to Rs 580 crore in Q1FY18 with strong growth across businesses. Asset management business revenues jumped 102%, housing finance 60% YoY, and capital market businesses 53%. The revenue mix is seeing healthy diversification, as 56% of the revenue came from linear sources like asset & wealth management and housing finance against 49% last year.

. While the share of Capital Markets reduced in the mix, it continues to grow in absolute terms. Both asset management and housing finance businesses saw rapid growth in assets, and improved in profitability despite significant investments in areas like manpower, network and marketing. Broking business registered highest ever quarterly revenue led by increase in volume coupled with stable market share. Further, distribution piece has also registered solid growth in mobilization. Investment banking saw a continued traction with 5 ECM transactions done during the quarter.

. The company has significant investments into manpower in broking (up 31%) and housing finance (up 87%). Ad expenses surged 128% in Asset Management business. In case of housing, branches are up by 94%, manpower cost up 80%.

. These up-fronted investments are expected to translate into operating leverage in the coming year. The full effect of operating leverage is yet to unfold in businesses.

. The net worth of the company stood at Rs 1900 crore and gross borrowing Rs 5200 crore. Excluding Aspire, gross and net borrowings stood at Rs 1400 crore and Rs 1200 crore end June 2017.

. The balance sheet has strong liquidity, with Rs 1000 crore as of June in near-liquid investments to fund any future investment needs of operating businesses.

Capital markets Businesses (broking & investment banking)

. Revenues increased 53% to Rs 210 crore in Q1FY2018. Market ADTO grew 78% in Q1FY18, with F&O rising 80% and cash 46%. The market share in high-yield cash segment was maintained and overall market share was 1.8% in Q1FY18. Blended yield has improved from 3.1 bps in Q1FY17 to 3.2 bps in Q1FY18. MOSL's PAT margin is at 16% in Q1FY18, the full benefit of operating leverage is yet to unfold.

. In retail broking & distribution, distribution business saw significant traction in Q1FY18. Distribution net sales surged 147% to Rs 430 crore. AUM also jumped 147% to Rs 5200 crore end June 2017. With only 20% of the network tapped, the company expects meaningful increase in AUM and fee income as cross-selling increases.

. In institutional broking, blocks continued to gain solid traction, while the focus has been on making the most of the market tailwind while building sustained areas of competitive advantage.

. Investment banking continues to have a strong pipeline. IB fee zoomed 165% to Rs 24 crore in Q1FY18.

Asset Management Businesses

. Asset Management business across MF, PMS & AIF reached the milestone Rs 25000 crore AUM mark, comprising of Rs 11300 crore of MF AUM and Rs 12800 crore of PMS AUM. Net Sales increased 231% to Rs 2900 crore in Q1FY18. Net yield was close to 1% in Q1FY18.

. In private equity, the company manages an AUM of Rs 3200 crore across 2 growth capital PE funds & 3 real estate funds. The PE business has demonstrated robust profitability and the RE business has shown significant scalability. The 1st growth fund has returned 209% capital so far. It is estimated to deliver a gross multiple of 3.7x. This implies that nearly half of the estimated profits are yet to be booked. IBEF III has been launched during the quarter and expected to close its first tranche by end of H1FY18 with corpus of Rs 600 crore to Rs 700 crore. The 3rd real estate fund raised commitments of Rs 980 crore so far.

. Asset Management fees surged 131% to Rs 140 crore in Q1FY18, gaining share in consolidated revenues to 25% in Q1FY18 from 18% back in Q1FY17.

Housing finance

. The business has shown traction in assets, while maintaining risk & operational parameters. Housing finance loan book grew by 73% to Rs 4300 crore. Branch network remained at 120 branches across 9 states likely to see further expansion in coming quarters. The average ticket-size was Rs 9 lakh end June 2017. LTV was 59% as of June 2017

. Disbursements were at Rs 330 crore in Q1FY18, impacted partly by external factors in economy such as RERA, GST causing postponement of customer decision and builders adopting wait and watch approach. The outlook of disbursement growth remains positive, enabled by a significantly expanded state and branch footprint.

. GNPA increased from 0.6% in Q4FY17 to 1.6% in Q1FY18 on account of seasonality in expenditure of the customers in affordable housing segment besides seasoning of Aspire's loan book.

. Average yield held firm at 13.4% despite competition, while maintained NIM at 4%.

. In liabilities, about 55% borrowings were from NCDs and 45% from bank loans. End June 2017, about 27 Banks/NBFC had extended lines, apart from 22 institutions to whom NCDs were allotted.

. Under PMAY CLSS, the company has have received subsidy on more than 4000 customers amounting to Rs 85 crore till date out of which Rs 49 crore was received in Q1FY2018.