| Investment Bank | M&A advisory, equity and debt capital markets advisory, private equity syndication, corporate finance services. | Strong client relationships, expertise in Indian capital markets, regulatory licenses. | Large corporates, promoters, financial institutions; B2B focus. | Equity capital markets, M&A advisory have highest margins. | 1540 | 35 | Fees from advisory, underwriting, and capital markets transactions. | Fee-based, deal contingent, retainer fees. | Robust IPO pipeline, equity market activity, strategic advisory demand. | JM Financial Institutional Securities Limited |
| Mortgage Lending | Affordable housing loans and loan against property products. | Granular loan portfolio, secured lending, strong underwriting. | Retail customers, primarily salaried and self-employed in affordable housing segment. | Loan book with low non-performing assets. | 1317 | 30 | Interest income and loan processing fees. | Interest on loan book; asset-backed lending. | Affordable housing demand, expanding branch network, digital sourcing. | JM Financial Home Loans Limited |
| Alternative & Distressed Credit | Distressed credit acquisitions, wholesale debt syndication, real estate lending. | Extensive experience and relationships in distressed credit markets. | Financial institutions, corporates, funds; B2B focus. | Syndication and co-investment returns. | 227 | 5 | Interest income, asset recoveries, syndication fees. | Interest income and performance fees. | Loan syndications and recovery in distressed assets. | JM Financial Asset Reconstruction Company, JM Financial Credit Solutions Limited |
| Asset Management, Wealth Management | Mutual funds, alternative investment funds, portfolio management services, private wealth management. | Strong brand, extensive client coverage, proprietary investment expertise. | Retail, high net worth individuals, institutions; B2C and B2B. | PMS and wealth management have higher margins. | 1214 | 27 | Management fees, performance fees, distribution commissions. | Assets under management based fees, recurring income model. | Rising financial market participation, distribution network expansion. | JM Financial Asset Management Limited, JM Financial Services Limited |
| Others | Real estate investments, proprietary trading, other financial services. | Diversification, market presence. | Varied. | Proprietary investments and real estate. | 155 | 3 | Rental income, trading gains, fees. | Diverse. | Real estate demand, diversified income sources. | JM Financial Properties, CR Retail Malls, etc. |
