Motilal Oswal Group aims to model its operations after Warren Buffet’s Berkshire Hathaway, emphasizing equities, investments, and asset management. Navin Agarwal, the group Managing Director, stated, “We believe in the twin engine model of operating businesses, the seven businesses that we have, and the investment business, which rechannelises 80% of cash flows back.”
The group comprises seven business segments: wealth management, institutional equities, investment banking, asset management, alternative investments, private wealth, and home finance. It plans to enter India’s emerging private credit sector with a ₹3,000 crore fund, initially set at ₹1,500 crore.
Agarwal noted that savings through systematic investment plans are expected to contribute to a savings pool projected to reach $130 trillion over the next 25 years. He highlighted that Motilal Oswal represents both the financialization of this massive savings and the equitization of these funds.
The group’s growth has surpassed 30% annually over the past decade without relying on external capital, maintaining a robust balance sheet. Since its listing in 2007, Motilal Oswal has not raised capital in either the parent company or its subsidiaries; during this period, its flagship company has completed three buybacks and distributed about 20% of profits as dividends.
With a shifting landscape in the financial services sector, the group anticipates benefiting from consolidation and expanding its market share. Fast-growing segments, particularly asset management, private wealth, and alternatives—which generate annuity income—are set to be the focus in the upcoming years. Agarwal remarked, “The annuity businesses will become a larger part of the overall profit pool, and the transaction businesses will become a smaller part.”
He reiterated the group’s inspiration from Berkshire Hathaway, stating, “I want to remind you that Berkshire is bigger than any bank in America… and our role model is Berkshire Hathaway.” In addition to private credit, which is expected to launch in the latter half of the current fiscal year, Agarwal mentioned other potential areas for expansion adjacent to existing verticals.
Motilal Oswal maintains office locations in Mumbai, Bengaluru, and Ahmedabad, with a new facility planned in Delhi. The group intends to enhance its presence in cities such as Pune, Kolkata, Chennai, and Hyderabad.
For FY25, Motilal Oswal Financial Services reported a net profit of ₹2,494 crore, with revenues amounting to ₹8,417 crore.
