Aditya Birla Sun Life AMC Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Aditya Birla Sun Life AMC Ltd filed with BSE on 24 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Aditya Birla Sun Life AMC reported Q1 FY27 total revenue of ₹625 crore, up 11% year-over-year, with profit after tax of ₹309 crore, up 12% year-over-year. Overall average AUM including alternate assets crossed ₹6 lakh crore, aided by the EPFO and ESIC mandates, while mutual fund quarterly average AUM grew 6% year-on-year to ₹4.28 lakh crore. Management discussed yield levels following TER regulation changes, a marginal reduction in the SIP book, and growth plans across passive, PMS, AIF, real estate and GIFT City businesses.
Numbers mentioned
Total revenue: ₹625 crore (Q1 FY27)
p. 7
“Moving to financials, Q1 FY27 total revenue is about ₹625 crore as compared to ₹565 crore in Q1 FY26, up by 11% year-over-year.”
A. Balasubramanian, page 7 of the filed PDF · View the filing
Profit before tax: ₹406 crore (Q1 FY27)
p. 7
“Q1 FY27 profit before tax was ₹406 crore as compared to ₹372 crore in Q1 FY 2026, up by 9% year-on-year.”
A. Balasubramanian, page 7 of the filed PDF · View the filing
Profit after tax: ₹309 crore (Q1 FY27)
p. 7
“Q1 FY27 profit after tax, ₹309 crore as compared to ₹277 crore in Q1 FY 2026, up by 12% year-on-year.”
A. Balasubramanian, page 7 of the filed PDF · View the filing
Overall average AUM including alternate assets: ₹6.28 lakh crore (Q1 FY27)
p. 4
“overall average AUM, including Alternate assets, surpassed the ₹6 lakh crores milestone this quarter and now stands at ₹6.28 lakh crore, reflecting robust 42% year-on-year growth.”
A. Balasubramanian, page 4 of the filed PDF · View the filing
Total closing AUM: crossed ₹10 lakh crore (as on 30th June 2026)
p. 4
“our closing total AUM as on 30th June 2026 has crossed the ₹10 lakh crore milestone.”
A. Balasubramanian, page 4 of the filed PDF · View the filing
Mutual fund quarterly average AUM: ₹4.28 lakh crore (Q1 FY27)
p. 5
“Our mutual fund quarterly average AUM stood at ₹4.28 lakh crore, representing 6% year-onyear increase.”
A. Balasubramanian, page 5 of the filed PDF · View the filing
Equity mutual fund quarterly average AUM: ₹1.99 lakh crore (Q1 FY27)
p. 5
“our equity mutual fund quarterly average AUM stood at approximately ₹1.99 lakh crores and growing about 10% year-on-year.”
A. Balasubramanian, page 5 of the filed PDF · View the filing
Equity mix: 46.5% (Q1 FY27)
p. 5
“Our equity mix for the quarter stood at 46.5%.”
A. Balasubramanian, page 5 of the filed PDF · View the filing
SIP contribution: ₹1,085 crore (June 2026)
p. 5
“Our SIP contribution for June 2026 stood at ₹1,085 crores, supported by 40 lakh folios contributing to the SIP account.”
A. Balasubramanian, page 5 of the filed PDF · View the filing
Total investor folios: 1.11 crore (June 2026)
p. 5
“The total investors folio for June 2026 stood at 1.11 crore, with the new SIP registrations for the quarter is approximately 5.5 lakh new SIP registrations.”
A. Balasubramanian, page 5 of the filed PDF · View the filing
Equity yield: 63 to 64 basis points (Q1 FY27)
p. 7
“coming to the yield levels for equity, it is around 63 to 64 basis points. Debt should be around 24 to 25 basis points.”
Pradeep Sharma, page 7 of the filed PDF · View the filing
ESOP cost impact on employee expense: around 10 crores per quarter (Q1 FY27)
p. 8
“The impact of that is around 10 crores per quarter of the additional employees cost through the ESOP.”
Pradeep Sharma, page 8 of the filed PDF · View the filing
SIP AUM: approximately 87,000 crores (Q1 FY27)
p. 10
“SIP AUM is approximately 87,000 crores for quarter.”
Pradeep Sharma, page 10 of the filed PDF · View the filing
PMS and AIF revenue contribution (net): around 4% (Q1 FY27)
p. 10
“And on net revenue basis, post payout of commission to distributors is around 4% on overall revenue.”
Pradeep Sharma, page 10 of the filed PDF · View the filing
Total employees: 1638 (as of June end 2026)
p. 12
“So, total number of employees as of June end is 1638.”
Pradeep Sharma, page 12 of the filed PDF · View the filing
Average equity AUM: ₹198,722 crore (Q1 FY27)
p. 13
“Abhijeet, average equity AUM for Q1 was ₹198,722 crore and closing also was ₹198,969 crore.”
Pradeep Sharma, page 13 of the filed PDF · View the filing
PMS and AIF assets: nearly ₹2 lakh crore (Q1 FY27)
p. 6
“Our PMS and AIF assets increased about ₹28,650 crore as of Q1 FY26 to nearly ₹2 lakh crore, which includes the EPFO flows.”
A. Balasubramanian, page 6 of the filed PDF · View the filing
Real estate business AUM: approximately ₹700 crore (Q1 FY27)
p. 6
“In our real estate business, our AUM stood at approximately ₹700 crore, reflecting a 25% year-over-year growth.”
A. Balasubramanian, page 6 of the filed PDF · View the filing
Passive quarterly average AUM: approximately ₹40,000 crore (FY27)
p. 6
“During FY27, our passive quarterly average AUM stood at approximately ₹40,000 crore, representing 14% year-over-year growth.”
A. Balasubramanian, page 6 of the filed PDF · View the filing
ETF quarterly average AUM growth: about 47% year-over-year (Q1 FY27)
p. 6
“ETF quarterly average AUM grew by about 47% year-over-year, significantly ahead of the industry growth, about 29%.”
A. Balasubramanian, page 6 of the filed PDF · View the filing
SIP cumulative contribution: around ₹3,300 crore (Q1 FY27)
p. 14
“SIP cumulative contribution for the quarter was around ₹3,300 crore which is actually in line with Q4 numbers also.”
Pradeep Sharma, page 14 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Yield levels — plus/minus a few basis points
stated conditionally by Pradeep Sharma
p. 8
“So, what we can do as a business, we would like to maintain our yields, plus, minus, few basis points.”
Pradeep Sharma, page 8 of the filed PDF · View the filing
Employee cost — coming quarters
stated firmly by Pradeep Sharma
p. 8
“And roughly, the employee cost, which is there in Q1, should continue in the same range for coming quarters.”
Pradeep Sharma, page 8 of the filed PDF · View the filing
PMS long-only equity AUM — ₹20,000 crore to ₹21,000 crore · next three years
stated as an aspiration by A. Balasubramanian
p. 14
“Definitely, we have a target to take it to anywhere between ₹20,000 crore, ₹21,000 crore over a period of next three years.”
A. Balasubramanian, page 14 of the filed PDF · View the filing
AIF category sizes (Performing Credit, Money Market, Real Estate Credit) — ₹5,000 crore to ₹7,000 crore each
stated as an aspiration by A. Balasubramanian
p. 14
“I think each one of them will gun for about anywhere between ₹5,000 crores to ₹7,000 crore kind of size to start with.”
A. Balasubramanian, page 14 of the filed PDF · View the filing
Seed capital commitment to AIF funds — up to 10% of fund size
stated firmly by A. Balasubramanian
p. 14
“That is one of the reasons we also given a commitment from our AMC P&L in order to provide seed capital up to 10% of the fund size.”
A. Balasubramanian, page 14 of the filed PDF · View the filing
Alternate business revenue contribution — similar range, plus or minus 1-2% · coming quarters
stated conditionally by Pradeep Sharma
p. 15
“I think largely we feel that because all our verticals, LOBs are largely we feel in coming quarters, I think the revenue or contribution for Alternate should be in the similar range except 1% or 2% here and there, I think should be there.”
Pradeep Sharma, page 15 of the filed PDF · View the filing
OPEX growth — in line with inflation · for the year
stated conditionally by Pradeep Sharma
p. 13
“OPEX, I think, remain within the inflationary guidelines.”
Pradeep Sharma, page 13 of the filed PDF · View the filing
Retail product launch via GIFT City — emerging market equity fund and India growth fund · upcoming quarter
stated firmly by A. Balasubramanian
p. 6
“We are also on track to launch a retail product via GIFT City in the upcoming quarter, including emerging market equity fund and India growth fund, and also launch series of index funds to invest in global markets.”
A. Balasubramanian, page 6 of the filed PDF · View the filing
SIF platform expansion — two more SIFs (equity long short fund and Equity Ex-Top 100 Long-Short Fund)
stated firmly by A. Balasubramanian
p. 7
“In order to build further momentum, we are also now preparing to launch two more SIFs, equity long short fund and Equity Ex-Top 100 Long-Short Fund.”
A. Balasubramanian, page 7 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the yield reflected the true picture post regulatory rollout and expected it to be maintained with minor variance going forward.
Answered by Pradeep Sharma
Asked by Swarnabha Mukherjee: Whether the increase in yield reflects true impact of TER regulation and how yield will trend as AUM grows.
p. 7
“And the yield, what is there in Q1, reflects the true picture and will be maintained going forward in these levels.”
Pradeep Sharma, page 7 of the filed PDF · View the filing
Management said the restructuring was designed to be neutral for both the AMC and distributors, with no significant benefit or loss to either side.
Answered by A. Balasubramanian
Asked by Mohit Mangal: How much of the five basis points commission was transferred to distributors after the restructuring.
p. 9
“I think the basis which our own assessment is that there is no significant benefit or the loss.”
A. Balasubramanian, page 9 of the filed PDF · View the filing
Management attributed part of the SIP decline to outflows in ELSS schemes industry-wide and to a temporary dip in fixed income assets during May due to interest rate volatility.
Answered by A. Balasubramanian
Asked by Mohit Mangal: Why SIP market share has declined despite strong flagship scheme performance.
p. 10
“I think largely our SIP, especially in the ELSS schemes we are seeing, generally outflow in the industry and we did have impact on some of the ELSS schemes.”
A. Balasubramanian, page 10 of the filed PDF · View the filing
Management explained that average and closing AUM were similar because the market dipped on several days during the quarter.
Answered by Pradeep Sharma
Asked by Abhijit Sakhare: Why closing equity AUM was not higher than average AUM for the quarter given market returns.
p. 13
“If you see, however, during the quarter April to June, there were days wherein market also have dipped. That’s why average is also in the similar line.”
Pradeep Sharma, page 13 of the filed PDF · View the filing
Management said the ESIC mandate generates very marginal revenue but opens access to EPFO flows for future growth.
Answered by A. Balasubramanian
Asked by Abhijit Sakhare: What is the annualized revenue impact from the ESIC mandate.
p. 12
“With respect to the ESIC. ESIC mandate, of course, in terms of the revenue, very marginal. We don’t earn any much on this.”
A. Balasubramanian, page 12 of the filed PDF · View the filing
Management confirmed the fee and commission expense is directly linked to the Alternate business and commissions paid to distributors, expected to grow with Alternate revenue.
Answered by Pradeep Sharma
Asked by Dipanjan Ghosh: How the fee and commission expense increase relates to the non-mutual fund business.
p. 15
“Fee and commission expense is actually directly linked to the business of Alternate business because this is a commission which is paid to the distributor community.”
Pradeep Sharma, page 15 of the filed PDF · View the filing
Risks flagged
Below-normal monsoon due to El Niño as a key risk to the economy
p. 4
“The key risk is the monsoon, with the IMD expecting below-normal rainfall due to El Niño.”
A. Balasubramanian, page 4 of the filed PDF · View the filing
Higher import costs pressuring the external account with pass-through into domestic prices
p. 3
“That said, the higher import costs have pressured the external account with some pass-through into domestic prices.”
A. Balasubramanian, page 3 of the filed PDF · View the filing
Marginal slowdown in overall SIP flows industry-wide
p. 4
“though we witnessed marginal slowdown in the overall SIP flows.”
A. Balasubramanian, page 4 of the filed PDF · View the filing
Marginal reduction in the company's own SIP book
p. 5
“Though we have seen this quarter a marginal reduction in the SIP book, something we continue to remain a big focus area to drive to the next level of growth momentum.”
A. Balasubramanian, page 5 of the filed PDF · View the filing
Fixed income volatility in May affecting duration-based fund assets
p. 10
“the volatility that we witnessed in interest rates, especially in the month of May, May was actually a little panic month when it comes to fixed income and fixed income we do have large size in the non-liquid fund, liquid fund plus category which is basically duration based.”
A. Balasubramanian, page 10 of the filed PDF · View the filing
Industry-wide ELSS outflows and higher cancellation rates
p. 10
“Even industry this time the cancellation rates are higher than the previous quarter.”
A. Balasubramanian, page 10 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.