Kotak Wealth and CRISIL Research launch ‘Top of the Pyramid’

FOR IMMEDIATE RELEASE
Mumbai, Maharashtra, India, Republic of (Free-Press-Release.com) June 7, 2011 -- Mumbai, 7 June, 2011: Kotak Wealth Management, pioneer and leader in the wealth
management industry in India and CRISIL Research, India’s largest independent and integrated
research house, launched the ‘Top of the Pyramid’ report in Mumbai today. This unique report
analyses the earnings, investment and spending patterns of Ultra High Net Worth Individuals
(UHNIs) in India.
In this report, Kotak Wealth and CRISIL Research have defined an Ultra High Net worth
Household (UHNH) as one having a minimum net worth of Rs. 250 million (as of FY 2010-11).

The number of UHNHs is expected to triple to 219,000 and their net worth is expected to grow
fivefold to Rs. 235 trillion by FY 2015-16.
The study identifies three distinct profiles of UHNIs in India – the inheritor, the self-made and the
professional. It draws a clear differentiation between these three profiles in their approach to
investing and spending, and perpetuation of wealth and lifestyle. It points out that UHNIs display
greater risk aversion in personal investments. While real estate has been the most preferred
avenue, alternate asset classes are now likely to gain popularity.

At the launch of the report, C. Jayaram, Executive Director, Kotak Mahindra Bank Limited said,
“We are delighted to launch the first of its kind report of the Indian ultra high net worth individual
fraternity today. The Top of the Pyramid report has been developed jointly with CRISIL Research.
The cornerstone of our Wealth Management business rests on providing superior products and
services to our clients. In a bid to diversify their portfolio, largely comprising traditional assets like
realty and equity, UHNIs have begun investing in emerging, alternate assets such as private

equity, hedge funds, structured products and derivatives. However, the growing interest in
alternate assets is not backed by an adequate understanding of these asset classes, thus
requiring UHNIs to seek professional advice. The report has been developed to add further value
for our clients. This endeavour is testimony to our commitment to offer our clients the highest
quality of wealth management products and services in India.”
The report highlights the relationship between increased earning and growth in the luxury market
in India. It provides insights into differences in patterns of spending and investing, based on the

UHNI profile and geography.
“The fivefold increase in net worth and increasing propensity to spend could together have an
explosive impact on the luxury goods market. Our research estimates the potential market size
for the luxury jewellery segment at Rs. 229 billion and for the luxury car segment at Rs. 140-150
billion. The full realisation of this potential is possible provided luxury brands are able to develop
greater points of access, offer wider range and customisation of products to suit Indian

customers’ preferences. The Top of the Pyramid report will serve as a useful guide for investment
managers and luxury brand marketers to develop more innovative marketing strategies.” said Ms.
Roopa Kudva, Managing Director and Chief Executive Officer of CRISIL Limited.
‘Top of the Pyramid’ is based on in-depth interviews with senior personnel at major global luxury
brands, art gallery owners and product dealers, and an extensive market research with ultra HNIs
across eight cities. It is available free of cost, and can be downloaded from the Kotak and CRISIL
websites.
About Kotak Mahindra Group

Kotak Mahindra Group is one of India's leading banking and financial services conglomerates,
offering a wide range of financial services that encompass every sphere of life. From commercial
banking, to car finance, to stock broking, to asset management, to life insurance, to investment
banking, the group caters to the financial needs of individuals and corporates. The Group has a
net worth of Rs. 10,963 crore and has a distribution network through branches and franchisees
across the country and offices in New York, California, London, Dubai, Mauritius, Abu Dhabi,

Bahrain and Singapore, servicing close to 8 million customer accounts. For further information on
Kotak Mahindra Group, please visit www.kotak.com
About Kotak Wealth Management
Established in 1998, Kotak Wealth Management is one of the oldest, the most respected and the
largest wealth management teams in India offering widest range of wealth management solutions
to high net worth individuals. Our clientele ranges from entrepreneurs to business families, as
well as employed professionals. Kotak Wealth provides financial advice and manages wealth for
over 30% of India’s top 100 families*. Kotak Wealth recently won the ‘Best Private Banking

Services Overall- India along with 17 other categories including ‘Best Family Office Services’,
‘Best Advisory Services’ in the Euromoney’s Private Banking and Wealth Management Poll –
2011. Further, Kotak Wealth has also won the ‘FinanceAsia Country Awards -2010’ in the Best
Private Bank category. www.wealthman