1. Succession - Jones George as MD from 1 October 2026 Pending - At the Q1 FY27 call, C.J. George confirmed he will step down as Managing Director and Jones George takes over as MD "from first of October" (October 2026); Satish Menon continues as MD of Geojit Investment Limited. The succession date of 1 October 2026 falls after today, 2 September 2026, so no outcome can yet be assessed.
2. Transformation expenses - \~₹54 cr a year similar to FY26 for next 2 years at least On track - At the Q4 FY26 call, management said investments similar to the FY26 \~₹54 cr of transformation expenses will continue "for the next 2 years at least" in employees and IT, funded through internal resources with no capital raise planned. Q1 FY27 employee cost was up ₹18 cr YoY, and Jones George confirmed "we will continue to invest, particularly in technology and people for 2 more years"; the window runs to FY28.
3. IT investment - about ₹30 crore over next 3 years On track - At the Q4 FY26 call, management guided to an IT investment of about ₹30 crores lined up "for the next 3 years" covering digital, data, customer experience and front-end systems. First-phase IT transformation spend was \~₹10 cr in FY26, shown as ₹10.36 cr in the Q1 FY27 PPT - a first-year pace consistent with the ₹30 cr plan, with the window running to FY29.
4. Hiring plan FY26 - 1,000-plus employees Partial - At the Q4 FY25 call, management said they "intend to hire close to 1,000-plus employees," primarily on the sales/distribution side. FY26 saw a net addition of \~700 employees, of which 650 in sales, taking the employee base to 3,768 - meaningful hiring, but below the 1,000-plus guided figure.
5. Branch expansion FY26 - close to 50 branches Missed - At the Q4 FY25 call, management said "this year, we intend to open close to around 50 branches" (FY26). No FY26 year-end branch count confirming \~50 openings appears in the record; the Q1 FY27 PPT shows 525 offices across India & GCC against \~500 offices at Q4 FY25, leaving the incremental count unclear.
6. Private wealth assets - ₹1,000 cr to ₹20,000 cr in 3 years On track - At the Q4 FY25 call, management confirmed private wealth assets are expected to grow from ₹1,000 cr to ₹20,000 cr in the next 3 years, including plans in the Middle East. Private Wealth AUM was \~₹2,400 cr as of Q4 FY26, up \~40% YoY - far from ₹20,000 cr, but the window from Mar 2025 runs to Mar 2028.
7. DIFC entity - operational "full swing" at beginning of 2026 Partial - At the Q4 FY25 call, management said DIFC operations will run "full swing" at the beginning of 2026; at Q2 FY26 the timeline was refined to "operational at the end of this quarter", and at Q4 FY26 client onboarding was pushed to "by the end of this month". DIFC received all licenses and operations started in February 2026, but by Q1 FY27 the entity had only very recently started booking business - operational, not yet at "full swing" scale.
8. PMS business - aggressive expansion with more fund managers and schemes Delivered - At the Q4 FY24 call, management said they wish to go aggressive on the PMS business and cannot wait any longer, with Satish Menon lining up a PMS division and a larger fund-manager base for many more schemes; the FY24 annual report noted plans to expand fund managers and research analysts. PMS AUM grew from ₹450 cr in FY23 to ₹914 cr in FY24, ₹1,262 cr in FY25, ₹1,422 cr in FY26 and ₹1,633 cr in Q1 FY27, with new AIF and PMS schemes in the pipeline.
9. Private wealth business - aggressive domestic pursuit with CEO/team hire Delivered - At the Q4 FY24 call, management committed to "aggressively" pursue the private wealth business domestically, including hiring a CEO/team. By Q4 FY26, Private Wealth AUM grew \~40% to \~₹2,400 cr with \~55 RMs and \~90 total staff, and 25-30 RMs were planned to be hired in FY27 - the business scaled meaningfully.
10. FLIP trading platform - release "over the coming months" Delivered - At the Q2 FY24 call, Jones George said FLIP is the first of mini revamps that "will soon be released over the coming months". FLIP was launched by Q2 FY24 and is cited as part of the super-app ecosystem in FY26.
11. Tier 3 branch profitability - \~30 branches to break even in 2 years Partial - At the Q2 FY24 call, management expected the \~30 branches opened the prior year, all in Tier 3 cities, to take 2 years' time to make profits or reach breakeven. At Q2 FY24 only a handful had become profitable, and by Q1 FY27 breakeven was cited at \~18-24 months depending on location; no disclosure confirms all \~30 branches reached breakeven by September 2025.
12. Wealth management expansion - two more Kerala offices, then Coimbatore, Chennai, Bangalore Delivered - At the Q4 FY22 call, management said the wealth business planned to open two more offices in Kerala, then expand to Coimbatore, Chennai and Bangalore. By Q4 FY26, Private Wealth had approximately 5 branches - Kerala, Chennai, Hyderabad, Bangalore, Bombay, Pune - with Delhi and Calcutta recently started; the named geographies were covered, though Coimbatore is not explicitly named in the later list.
13. Branch expansion - 28 new offices operational by end of Q2 FY23 Delivered - At the Q4 FY22 call, management said of 28 new offices planned, 6 were operational and the balance would be operational by the end of Q2 FY23. By Q2 FY23, 29 new offices had been opened over the last 12 months, exceeding the 28-office plan.
14. Distribution business growth - ₹250-300 crore in 3-4 years Partial - At the Q2 FY23 call, management said the distribution business can grow from the \~₹80 crore FY22 run rate to ₹250-300 crore, "this will not be done in 2 years' time. Maybe 3 to 4 years' time". Distribution income rose from ₹81.45 cr in FY22 to ₹151.64 cr in FY24, ₹204.47 cr in FY25 and ₹218.28 cr in FY26 - below the ₹250 cr floor as the window closes, though the trajectory is upward.
15. STEPS advisory - scaling from single Cochin branch Delivered - At the Q4 FY21 call, management said "we will see a few more branches adding up this year," scaling STEPS from the single Cochin branch. By Q2 FY23, STEPS was in 5 offices with qualified financial planners, with almost 100% of first-year clients renewing for the second year.
16. GIFT City AIF/AMC license - investment not more than ₹10 crore to start Partial - At the Q4 FY21 call, management said the GIFT City AIF/AMC license investment would be "not more than 10 crore of investment to start with" if the license is obtained, with no business-size projections given. Geojit IFSC had one license received with others being pursued as of Q2 FY23, and a new AIF via the GIFT City route was in the application stage by Q4 FY26; no specific investment figure was disclosed.
17. Union Bank tie-up - integration announcement Pending - At the Q4 FY21 call, management said "very soon we will announce Union Bank also, the work is going on for integration of the system". No cited transcript or filing discloses any Union Bank tie-up announcement, completion, or withdrawal; the B2B partnerships cited stand at 7 banks with access to \~20,000 bank branches as of Q4 FY21.
18. Online mutual fund platform relaunch - FundsGenie Delivered - At the Q2 FY21 call, management said the online mutual fund platform, slowed and stopped due to SEBI's new advisory regulations, was being planned for relaunch - "we are planning to again relaunch it". FundsGenie was revamped and relaunched on Android and iOS by Q2 FY23 and is part of the super-app ecosystem cited in FY26.