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JM Financial’s Q3FY24 consolidated net profit jumps 46% to ₹278 crore

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JM Financial reports 46% y-o-y increase in Q3FY24 consolidated net profit at ₹278 crore

JM Financial Ltd (JMFL) has reported a 46% year-on-year increase in its third quarter consolidated net profit, reaching ₹278 crore, due to the strong performance by segments such as investment banks, mortgage lending, and Platform AWS. However, the loan book remained almost unchanged at ₹15,111 crore as of December 2023, compared to ₹15,234 crore in December 2022.

The diversified financial services group, JMFL, saw a consolidated net profit of ₹190 crore in the same quarter of the previous year. The company operates in various sectors including Integrated Investment Bank (IB), Mortgage Lending, Alternative and Distressed Credit, and Platform AWS.

Among the segments, the net profit from the Integrated Investment Bank saw a 59% year-on-year increase to ₹159 crore, while the net profit from mortgage lending increased by 16% to ₹49 crore. Additionally, the net profit from Alternative & Distressed Credit and Platform AWS rose sharply by 154% and 145% respectively, contributing to ₹15 crore and ₹26 crore.

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Vishal Kampani, Non-executive Vice Chairman at JM Financial Limited, highlighted the company’s achievements by stating, “Our Integrated Investment Bank segment experienced continued momentum… The retail mortgage lending segment has demonstrated strong growth and has expanded to 112 branches.”

Kampani also mentioned that the company will continue to invest in the retail mortgage business to diversify the loan book, despite facing delays in some of the large resolutions in the Alternative and Distressed Credit business.

Furthermore, JMFL continues to invest in the physical and digital infrastructure in the Platform AWS businesses, with the mutual fund business crossing ₹5,000 crore in assets under management in January 2024, including an equity AUM of ₹2,928 crore.

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Despite the challenges, JMFL shows promising growth in its various business segments, providing a positive outlook for the company’s future performance.

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Business

Mona Patel Net Worth 2024: How Much is the Entrepreneur and Philanthropist Worth?

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Mona Patel Net Worth 2024: How Much is the Entrepreneur and Philanthropist Worth?

Who is Mona Patel?

Mona Patel, a renowned entrepreneur and philanthropist, has captured headlines with her remarkable achievements. Hailing from Vadodara, Gujarat, India, Patel embarked on her journey to the United States at a young age to pursue her entrepreneurial aspirations. She is a trailblazer in various fields, including business, education, and philanthropy. Her dedication to empowering women and supporting meaningful causes has earned her widespread recognition.

Mona Patel Career

Remarkable achievements and relentless dedication mark Patel’s career trajectory. She holds an impressive array of qualifications, including a Bachelor of Science degree in Computer Science from Gujarat University, a Master of Science degree in Real Estate and Finance from the University of Florida, and a Master’s degree in Business Administration from MIT Sloan School of Management, among others.

Her professional journey includes pivotal roles in esteemed organizations such as Creative Choice Group, Select Radiology, Monalisa Properties, Teliradx, HauteX Ventures, M1 Imaging, CareFirst Imaging, Culture For Cause, and RadXai. As the Co-Founder, CEO, and CFO of various ventures, Patel has demonstrated exemplary leadership and innovation, contributing significantly to the business landscape.

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Mona Patel’s Net Worth

As of 2024, Mona Patel’s net worth is estimated to be approximately $1.2 billion. This substantial wealth is a testament to her entrepreneurial acumen and strategic investments across diverse sectors. Patel’s multifaceted business ventures have not only propelled her financial success but also enabled her to make a meaningful impact on society through philanthropy and social initiatives.

Mona Patel Age

Born on April 28th, Mona Patel’s age aligns with her dynamic personality and visionary leadership. As a Taurus by zodiac sign, she embodies qualities of determination, resilience, and creativity, which have been instrumental in her journey to success.

Mona Patel Family: Husband

In her personal life, Mona Patel shares a fulfilling relationship with her husband, Chintan Desai, a successful businessman. The couple exchanged vows on November 29th, 2007, and their enduring bond is evident through their cherished moments shared on social media.

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Mona Patel Height and Weight

While specific details regarding Mona Patel’s height and weight are not readily available, her towering achievements in business and philanthropy speak volumes about her stature as a dynamic leader and role model.

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Net Worth

David Yong Net Worth 2024: How Much is the CEO of the Singapore-based Evergreen Group Holdings Worth?

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David Yong Net Worth 2024: How Much is the CEO of the Singapore-based Evergreen Group Holdings Worth?

Who is David Yong?

David Yong is the CEO of Evergreen Group Holdings, a prominent Singaporean businessman, lawyer, and K-pop artist. He owns over fifteen firms spanning various industries, including wood, real estate, food and beverage, lifestyle, and finance.

David Yong Career:

Yong began his career as a trainee lawyer before joining his family’s firm in 2014. He oversees over fifteen companies, diversifying his father’s company with a strong focus on the Indochina region under the corporate umbrella of Evergreen Assets Management.

David Yong’s Net Worth:

David Yong’s estimated net worth in 2024 is $16.7 million. His wealth stems from reported shares across multiple companies, including Processa Pharmaceuticals, Inc., and QUESTCOR PHARMACEUTICALS INC. He also owns fifteen homes in Asia and holds $90 million in cash.

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David Yong Age:

David Yong is 36 years old.

David Yong Family: Parents:

Yong’s father is Yong Ing Fatt, who laid the foundation for the family’s timber logging business in Indochina. David followed his father on business trips and learned the ropes of the industry from a young age.

David Yong Height and Weight:

There is no specific information provided regarding David Yong’s height and weight in the referenced content.

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Net Worth

Mohammed bin Salman Al Saud Net Worth 2024: How Much is the Crown Prince of Saudi Arabia Worth?

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Mohammed bin Salman Al Saud Net Worth 2024: How Much is the Crown Prince of Saudi Arabia Worth?

Who is Mohammed bin Salman Al Saud?

Mohammed bin Salman, born on August 31, 1985, in Jeddah, Saudi Arabia, is the Crown Prince and Prime Minister of Saudi Arabia. He holds significant global influence and is known for his authoritative leadership stance.

Mohammed bin Salman Al Saud’s Career

Mohammed bin Salman’s career trajectory is notable. He graduated with a Bachelor’s Degree in Law and ventured into various entrepreneurial endeavors before becoming a formal advisor to his father, who was then the governor of Riyadh. Over the years, he ascended through political ranks, eventually becoming the Crown Prince and Prime Minister of Saudi Arabia.

Mohammed bin Salman Al Saud’s Net Worth

Mohammed bin Salman’s net worth has been a topic of interest and contention. While figures vary, estimates suggest his net worth is in the billions, with some sources citing figures around $5 billion and others suggesting figures exceeding $25 billion.

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Mohammed bin Salman Al Saud Age

As of 2024, Mohammed bin Salman is 39 years old, born on August 31, 1985, in Jeddah, Saudi Arabia.

Mohammed bin Salman Al Saud Family: Wife and Children

Mohammed bin Salman is married to Sara Bint Mashoor bin Abdul Aziz Al Saud, with whom he shares five children—three sons and two daughters. His family holds significant positions within the Saudi royal lineage, with Sara Bint Mashoor’s heritage tracing back to King Abdulaziz.

Mohammed bin Salman Al Saud Height and Weight

Mohammed bin Salman stands at a height of 6 feet 0 inches (183 cm), earning him the affectionate nickname “The Tallest” among his contemporaries. However, specific details about his weight are currently unavailable.

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