The March 2026 city wise AUM data published by AMFI tells a compelling story of urban concentration deepening at the top, emerging cities pushing harder to make their place in the list and a structural shift away from the significant contributions from smaller towns.
The Big Three tighten their grip
Mumbai, Delhi, and Bengaluru together commanded nearly 50.4% of total AUM in March 2026, up from 45% a year ago. Mumbai alone sits at 28.97%, adding a staggering Rs. 5 lakh crore to its AUM in a single year. This is the largest absolute addition of any city.
On the other hand, Delhi added Rs. 3.86 lakh crore, and Bengaluru added Rs. 1.1 lakh crore over the same period.
Interestingly, the industry added Rs. 13.28 lakh crore to its AUM between March 2025 and March 2026 while the top three cities added AUM of Rs. 9.97 lakh crore, making it 75% of the total addition in the last one year.
The mid-tier metros: Steady but slipping in share
Cities ranked 4 through 10 include Pune, Kolkata, Ahmedabad, Chennai, Hyderabad, Vadodara and Surat. Interestingly, most of these cities grew in absolute AUM but saw their percentage share either hold flat or dip slightly.
However, Vadodara and Surat are the outliers in this pattern as these cities have witnessed an increase in their share in the total AUM of the industry. Vadodara’s share has registered a marginal increase from 0.88% to 0.89% between March 2025 and March 2026, while Surat has performed exceptionally well to increase its share to 0.88% compared to 0.77%, one year age.
Surat has also secured its position among the top 10 cities. Ahmedabad and Chennai have swapped their position with Ahmedabad now standing at 6th position compared to 7th previous year.
Dhanbad stands out as the single most surprising entry in the top 30 cities. Over the past year, its AUM more than doubled, jumping from Rs. 12,623 crore to Rs. 26,139 crore (a 107% rise).
Apart from Dhanbad, Thane, the satellite city of Mumbai, registered an AUM growth of 155%, taking its AUM from Rs. 4,651 crore to Rs. 11,881 crore by March 2026.
New entrants
In an interesting development, 17 new cities have made their places in the top 110 cities having the highest AUM. These cities include Haora, Chengalpattu, Hugli, Palghar, Panchkula, North Goa, Ernakulam, Sahibzada Ajit Singh Nagar (Mohali), North Twenty Four Parganas, Tiruchirappalli, Raigarh (MH), Kottayam, South Goa, Udupi/Manipal, Kancheepuram, Gurugram and Nadia.
The other cities collapse
The most striking data point in the entire dataset isn’t any individual city, rather it’s the other cities (beyond the top 110 cities) bucket shrinking by Rs. 34,402 crore in absolute terms (from Rs. 1,24,701 crore to Rs. 90,298 crore), even as total industry AUM surged. The share of other cities in the total AUM fell from 18.8% to 11.4% between March 2025 and March 2026.
The NRI story
The NRIs and the investors with foreign addresses added Rs. 41,433 crore, though the share of this segment shrunk from 4.05% to 3.92%. On the other hand, the AUM of NRIs have gone to Rs. 3.1 lakh crore from Rs. 2.69 lakh crore.
Here are the complete details:
|
Sr. No.
|
City / Location
|
% of Total AUM
|
AUM in March 26
|
Mar-25
|
AUM in March 25
|
Change
|
|
1
|
MUMBAI
|
28.97%
|
2294688
|
27.00%
|
1793775
|
500913
|
|
2
|
NCT OF DELHI
|
15.48%
|
1226157
|
12.65%
|
840417
|
385740
|
|
3
|
BENGALURU
|
5.92%
|
468918
|
5.40%
|
358755
|
110163
|
|
4
|
PUNE
|
3.97%
|
314460
|
4.00%
|
265745
|
48716
|
|
5
|
KOLKATA
|
3.35%
|
265351
|
3.49%
|
231862
|
33489
|
|
6
|
AHMEDABAD
|
2.82%
|
223370
|
2.83%
|
188014
|
35356
|
|
7
|
CHENNAI
|
2.80%
|
221786
|
3.01%
|
199973
|
21813
|
|
8
|
HYDERABAD
|
2.07%
|
163963
|
2.09%
|
138852
|
25111
|
|
9
|
VADODARA
|
0.89%
|
70496
|
0.88%
|
58464
|
12032
|
|
10
|
SURAT
|
0.88%
|
69704
|
0.77%
|
51156
|
18548
|
|
11
|
JAIPUR
|
0.86%
|
68120
|
0.84%
|
55806
|
12314
|
|
12
|
LUCKNOW
|
0.70%
|
55446
|
0.69%
|
45841
|
9605
|
|
13
|
NAGPUR
|
0.59%
|
46733
|
0.57%
|
37869
|
8865
|
|
14
|
KANPUR
|
0.48%
|
38020
|
0.50%
|
33218
|
4802
|
|
15
|
INDORE
|
0.44%
|
34852
|
0.43%
|
28568
|
6284
|
|
16
|
NASHIK
|
0.43%
|
34060
|
0.38%
|
25246
|
8814
|
|
17
|
COIMBATORE
|
0.41%
|
32476
|
0.36%
|
23917
|
8559
|
|
18
|
PATNA
|
0.39%
|
30892
|
0.37%
|
24581
|
6310
|
|
19
|
RAJKOT
|
0.37%
|
29307
|
0.32%
|
21260
|
8048
|
|
20
|
LUDHIANA
|
0.36%
|
28515
|
0.34%
|
22588
|
5927
|
|
21
|
BHOPAL
|
0.35%
|
27723
|
0.37%
|
24581
|
3142
|
|
22
|
DHANBAD
|
0.33%
|
26139
|
0.19%
|
12623
|
13516
|
|
23
|
CHANDIGARH
|
0.31%
|
24555
|
0.35%
|
23253
|
1302
|
|
24
|
RANCHI
|
0.30%
|
23763
|
0.30%
|
19931
|
3832
|
|
25
|
GUWAHATI
|
0.28%
|
22179
|
0.26%
|
17273
|
4905
|
|
26
|
BHUBANESHWAR
|
0.27%
|
21386
|
0.30%
|
19931
|
1456
|
|
27
|
DEHRADUN
|
0.26%
|
20594
|
0.24%
|
15945
|
4650
|
|
28
|
AURANGABAD (MH)
|
0.24%
|
19010
|
0.21%
|
13952
|
5059
|
|
29
|
JAMSHEDPUR
|
0.24%
|
19010
|
0.26%
|
17273
|
1737
|
|
30
|
VARANASI
|
0.22%
|
17426
|
0.22%
|
14616
|
2810
|
|
31
|
HAORA
|
0.21%
|
16634
|
0
|
16634
|
|
|
32
|
AGRA
|
0.21%
|
16634
|
0.21%
|
13952
|
2682
|
|
33
|
UDAIPUR
|
0.21%
|
16634
|
0.18%
|
11959
|
4675
|
|
34
|
RAIPUR
|
0.21%
|
16634
|
0.20%
|
13287
|
3347
|
|
35
|
ALLAHABAD
|
0.20%
|
15842
|
0.21%
|
13952
|
1890
|
|
36
|
CHENGALPATTU
|
0.20%
|
15842
|
0
|
15842
|
|
|
37
|
VISAKHAPATNAM
|
0.19%
|
15050
|
0.19%
|
12623
|
2427
|
|
38
|
JALANDHAR
|
0.18%
|
14258
|
0.18%
|
11959
|
2299
|
|
39
|
GANDHINAGAR
|
0.18%
|
14258
|
0.18%
|
11959
|
2299
|
|
40
|
COCHIN
|
0.18%
|
14258
|
0.21%
|
13952
|
306
|
|
41
|
KOLHAPUR
|
0.18%
|
14258
|
0.14%
|
9301
|
4957
|
|
42
|
THIRUVANANTHAPURAM
|
0.17%
|
13466
|
0.14%
|
9301
|
4164
|
|
43
|
JODHPUR
|
0.17%
|
13466
|
0.16%
|
10630
|
2836
|
|
44
|
HUGLI
|
0.16%
|
12673
|
0
|
12673
|
|
|
45
|
PALGHAR
|
0.16%
|
12673
|
0
|
12673
|
|
|
46
|
BHILAI
|
0.16%
|
12673
|
0.15%
|
9965
|
2708
|
|
47
|
THANE
|
0.15%
|
11881
|
0.07%
|
4651
|
7231
|
|
48
|
AMRITSAR
|
0.15%
|
11881
|
0.15%
|
9965
|
1916
|
|
49
|
ANAND
|
0.15%
|
11881
|
0.11%
|
7308
|
4573
|
|
50
|
PANCHKULA
|
0.15%
|
11881
|
0
|
11881
|
|
|
51
|
BELGAUM (KA)
|
0.14%
|
11089
|
0.11%
|
7308
|
3781
|
|
52
|
AHMEDNAGAR
|
0.14%
|
11089
|
0.08%
|
5315
|
5774
|
|
53
|
MANGALURU
|
0.14%
|
11089
|
0.14%
|
9301
|
1788
|
|
54
|
MEERUT
|
0.14%
|
11089
|
0.13%
|
8637
|
2453
|
|
55
|
JAMNAGAR
|
0.13%
|
10297
|
0.13%
|
8637
|
1660
|
|
56
|
THRISSUR
|
0.13%
|
10297
|
0.08%
|
5315
|
4982
|
|
57
|
JABALPUR
|
0.13%
|
10297
|
0.13%
|
8637
|
1660
|
|
58
|
NORTH GOA
|
0.13%
|
10297
|
0
|
10297
|
|
|
59
|
MYSORE
|
0.13%
|
10297
|
0.12%
|
7972
|
2325
|
|
60
|
NAVSARI
|
0.13%
|
10297
|
0.09%
|
5979
|
4318
|
|
61
|
ERNAKULAM
|
0.13%
|
10297
|
0
|
10297
|
|
|
62
|
SAHIBZADA AJIT SINGH NAGAR
|
0.13%
|
10297
|
0
|
10297
|
|
|
63
|
KOTA
|
0.12%
|
9505
|
0.12%
|
7972
|
1533
|
|
64
|
PANAJI
|
0.12%
|
9505
|
0.14%
|
9301
|
204
|
|
65
|
GWALIOR
|
0.12%
|
9505
|
0.12%
|
7972
|
1533
|
|
66
|
GORAKHPUR
|
0.12%
|
9505
|
0.11%
|
7308
|
2197
|
|
67
|
BHAVNAGAR
|
0.12%
|
9505
|
0.11%
|
7308
|
2197
|
|
68
|
DURGAPUR
|
0.12%
|
9505
|
0.12%
|
7972
|
1533
|
|
69
|
CUTTACK
|
0.11%
|
8713
|
0.08%
|
5315
|
3398
|
|
70
|
SOLAPUR
|
0.11%
|
8713
|
0.07%
|
4651
|
4062
|
|
71
|
MADURAI
|
0.11%
|
8713
|
0.09%
|
5979
|
2734
|
|
72
|
JALGAON
|
0.11%
|
8713
|
0.07%
|
4651
|
4062
|
|
73
|
VALSAD
|
0.11%
|
8713
|
0.08%
|
5315
|
3398
|
|
74
|
SATARA
|
0.11%
|
8713
|
0.05%
|
3322
|
5391
|
|
75
|
BOKARO
|
0.10%
|
7921
|
0.08%
|
5315
|
2606
|
|
76
|
SANGLI
|
0.10%
|
7921
|
0.07%
|
4651
|
3270
|
|
77
|
BHARUCH
|
0.10%
|
7921
|
0.08%
|
5315
|
2606
|
|
78
|
NORTH TWENTY FOUR PARGANAS
|
0.10%
|
7921
|
0
|
7921
|
|
|
79
|
KALYAN
|
0.10%
|
7921
|
0.10%
|
6644
|
1277
|
|
80
|
TIRUCHIRAPPALLI
|
0.10%
|
7921
|
0
|
7921
|
|
|
81
|
RAIGARH (MH)
|
0.10%
|
7921
|
0
|
7921
|
|
|
82
|
JAMMU
|
0.10%
|
7921
|
0.07%
|
4651
|
3270
|
|
83
|
VIJAYWADA
|
0.10%
|
7921
|
0.09%
|
5979
|
1942
|
|
84
|
BILASPUR (CG)
|
0.09%
|
7129
|
0.08%
|
5315
|
1814
|
|
85
|
KHARGHAR
|
0.09%
|
7129
|
0.09%
|
5979
|
1150
|
|
86
|
HUBLI
|
0.09%
|
7129
|
0.09%
|
5979
|
1150
|
|
87
|
KOTTAYAM
|
0.09%
|
7129
|
0
|
7129
|
|
|
88
|
AJMER
|
0.09%
|
7129
|
0.08%
|
5315
|
1814
|
|
89
|
MIRA ROAD
|
0.09%
|
7129
|
0.09%
|
5979
|
1150
|
|
90
|
BAREILLY
|
0.09%
|
7129
|
0.08%
|
5315
|
1814
|
|
91
|
AMRAVATI
|
0.09%
|
7129
|
0.07%
|
4651
|
2478
|
|
92
|
SOUTH GOA
|
0.08%
|
6337
|
0
|
6337
|
|
|
93
|
UDUPI/MANIPAL
|
0.08%
|
6337
|
0
|
6337
|
|
|
94
|
VAPI
|
0.08%
|
6337
|
0.08%
|
5315
|
1022
|
|
95
|
KANCHEEPURAM
|
0.08%
|
6337
|
0
|
6337
|
|
|
96
|
SALEM
|
0.08%
|
6337
|
0.07%
|
4651
|
1686
|
|
97
|
PANVEL
|
0.08%
|
6337
|
0.08%
|
5315
|
1022
|
|
98
|
GURUGRAM
|
0.08%
|
6337
|
0
|
6337
|
|
|
99
|
SILIGURI
|
0.08%
|
6337
|
0.09%
|
5979
|
357
|
|
100
|
ROURKELA
|
0.08%
|
6337
|
0.08%
|
5315
|
1022
|
|
101
|
TIRUPPUR
|
0.08%
|
6337
|
0.05%
|
3322
|
3015
|
|
102
|
NADIA
|
0.08%
|
6337
|
0
|
6337
|
|
|
103
|
KOZHIKODE
|
0.08%
|
6337
|
0.07%
|
4651
|
1686
|
|
104
|
AMBALA
|
0.08%
|
6337
|
0.07%
|
4651
|
1686
|
|
105
|
PATIALA
|
0.08%
|
6337
|
0.07%
|
4651
|
1686
|
|
106
|
GUNTUR
|
0.07%
|
5545
|
0.05%
|
3322
|
2223
|
|
107
|
ASANSOL
|
0.07%
|
5545
|
0.08%
|
5315
|
230
|
|
108
|
ALIGARH
|
0.07%
|
5545
|
0.07%
|
4651
|
894
|
|
109
|
MORADABAD
|
0.07%
|
5545
|
0.08%
|
5315
|
230
|
|
110
|
MUZAFFARPUR
|
0.07%
|
5545
|
0.06%
|
3986
|
1558
|
|
111
|
OTHERS CITIES
|
11.40%
|
902984
|
18.77%
|
1247006
|
-344022
|
|
112
|
NRI & FOREIGN ADDRESS
|
3.92%
|
310500
|
4.05%
|
269066
|
41433
|
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