Anand Rathi Wealth has maintained 30% plus growth in both revenues & profits Y-o-Y: Rakesh Rawal
Rakesh Rawal, CEO, Anand Rathi Wealth, says expects to deliver the revised guidance that they have given of about Rs 900 plus crore of revenue and Rs 290 crore of profit.
Sequentially, the numbers have come largely flattish. What led to this moderation? What is the expectation from Q4 now? Are you expecting a bit of a reversal or a recovery or do you anticipate more of the same?
Rakesh Rawal: In our company, what we look for is year to year growth and that is why we have a very good first quarter and then we have flattish other quarters. From a year-to-year growth perspective, we have maintained the 30% plus growth in both revenues as well as in profits. We should be able to deliver the revised guidance that we have given of about Rs 900 plus crore of revenue and Rs 290 crore of profit.
Yes, not only deliver, but is there a potential that you can beat that because you have already achieved more than 75% of your revenue guidance? The AUM of about Rs 80,000 crore is pretty much there. Are you looking at upping that by any chance?
Rakesh Rawal: We are a little conservative in our approach. I think we will retain that guidance and of course, put in our best efforts like we have always done.
Let us divide this or spell it out into numbers because despite the market volatility that we saw in the third quarter, especially on F&O volumes, the Street has been quite bullish on specifically the wealth management segment of your business. You have said that there will be a 20% to 25% growth on a long-term basis. What new
