IN NOVEMBER 2022, two roads diverged, and Amisha Vora took the one less travelled. She increased her stake in the Prabhudas Lilladher Group from 24% to 96% and transitioned from a partner and joint managing director to owner-cum-chairperson and managing director. FY24 was the first full financial year with her at the helm of affairs. And the 80-year-old group has never been stronger. Prabhudas Lilladher Advisory Services reported a 3.6% rise in revenue to ₹212 crore in FY23. PAT was ₹10.8 crore in FY23 compared to a loss of ₹5.8 crore in FY22. Amisha’s instinct of identifying market trends led her to invest in research and development of quant models around 2020. Within less than a year of her taking charge, Prabhudas Lilladher launched AQUA–PMS where AQUA stands for Adaptive, Quantitative, Unbiased Alpha. AQUA-PMS reached an AUM of ₹250 crore within nine months of launch. Amisha took four initiatives. The first was an integrated approach to serving clients. The second was bolstering professionalism of the board. The third involved transition from transactional to annuity-led high return on equity businesses and renewed focus on recurring revenue streams. The fourth involved hiring talented people. — Rajiv Ranjan Singh