Mumbai-based Sanctum Wealth’s revenue grew by nearly 36.6% in FY24, reaching Rs 64.08 crore from Rs 46.87 crore in FY23, driven by its continued focus on high-net-worth individuals and a comprehensive suite of wealth management services.
Sanctum Wealth is a full-stack wealth management platform overseeing more than Rs 17,000 crore in client assets for over 1,100 high-net-worth families across India and abroad. Founded in 2016 through the acquisition of the Royal Bank of Scotland’s India Private Banking business, the company provides investment management, estate planning, real estate advisory, and private transactions through its six-city presence in Mumbai, New Delhi, Bengaluru, Chennai, Kolkata, and Ahmedabad.
Founded by Shiv Gupta, Anila Ahuja, Caroline Kulkarni, and Puneet Periwal, Sanctum Wealth has raised Rs 204.02 crore in funding over five rounds, with its most recent Series B round in September 2021. The company’s major shareholders include Plenty Private Equity Fund (36.99%), Multiples Private Equity (3.78%), Jayesh Parekh (3.07%), and Vishal Rathee (2.74%).
Expenses increased by 17.2% in FY24 to Rs 72.3 crore from Rs 61.7 crore in FY23. Employee benefit costs accounted for 70.24% of total expenses in FY24, slightly down from 70.38% in FY23. Advertisement costs rose to 2.29% in FY24 from 1.52% in FY23, while depreciation expenses declined to 0.13% in FY24 from 0.178% in FY23. Finance costs also decreased to 0.05% in FY24 from 0.09% in FY23.
Losses narrowed to Rs 8.19 crore in FY24 from Rs 14.86 crore in FY23. The EBITDA margin improved to -12.60% in FY24 from -31.27% in FY23, indicating operational efficiencies. ROCE also improved to -11.91% in FY24 from -19.41% in FY23, reflecting better capital utilization.