Groww accounted for 44% of new systematic investment plan (SIP) registrations in India as its mutual fund assets crossed ₹2 lakh crore.
Stockbroking platform Groww accounted for 43.6% of new systematic investment plan (SIP) registrations in India during the July-September quarter of FY27, as its direct mutual fund assets crossed ₹2 lakh crore.
A Groww spokesperson said assets held in direct mutual fund plans through the platform rose 45.9% year-on-year to ₹2.06 lakh crore at the end of September. The figure also marked a 7.8% increase from approximately ₹1.9 lakh crore at the end of June.
Groww Outpaces Mutual Fund Industry Growth
Industry data cited by The Economic Times showed that mutual fund assets under management (AUM) across India grew 9.3% year-on-year and 0.5% quarter-on-quarter. The Association of Mutual Funds in India (AMFI) reported industry AUM of ₹82.64 lakh crore at the end of September.
Groww also reported a 27.48% year-on-year increase in SIP inflows on its platform, which reached ₹14,347 crore during the quarter. The company said industry-wide SIP inflows grew 12.3% over the same period.
Across the industry, investors registered around 19.1 million new SIPs during the quarter. Monthly SIP contributions reached a record ₹32,490 crore in September, despite volatility in equity markets.
Groww Reports 54% Rise in Net Profit.
Groww also reported strong financial growth for the quarter. Its net profit increased 54% year-on-year to ₹725 crore, while revenue from operations rose 47% to ₹1,502 crore.
The company’s wealth assets crossed ₹10,000 crore during the quarter. Meanwhile, the AUM of Groww Asset Management Company (AMC) increased 145% year-on-year to ₹7,179 crore.
Groww now has 2.4 crore transacting users, while total customer assets on the platform grew 46% to ₹3.9 lakh crore.
The latest figures highlight Groww’s expanding mutual fund business, with rising SIP registrations and asset growth contributing to its broader financial services platform.
Source: ISN
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Groww CEO Lalit Keshre
Photo: X @lkeshre
