KOCHI: Even as volatility rattled mid-cap stocks over the past year, Yusuffali M A quietly tightened his grip on Kerala’s banking landscape, turning patience into profit.
The chairman of Lulu Group International has chosen consistency over aggression, retaining his stakes in listed Kerala banks despite regulatory headroom opening up. The Union Budget 2026 doubled the individual investment cap for overseas investors, including NRIs, from 5% to 10% under the Portfolio Investment Scheme. Yet, Yusuffali has held his positions steady — signalling conviction rather than caution.
His combined holdings across Kerala-based banks—South Indian Bank, Dhanlaxmi Bank, Federal Bank,ESAF Small Finance Bank and CSB Bank—have surged to Rs 2,951 crore, up sharply from Rs 2,043.5 crore a year ago.
The standout driver is Federal Bank. The stock rallied from around Rs 200 to nearly Rs 300 over 12 months, significantly boosting his portfolio. But what makes the story sharper is timing. Yusuffali had already increased his exposure, buying 13.7 lakh shares in early 2025, well before global investment giant Blackstone picked up a 9.99% stake in the bank at Rs 227 per share. It is a move that underscores his instinct for value and timing.
He did not stop with banks. In a parallel, low-key play, Yusuffali has emerged as the largest individual shareholder in Cochin International Airport Ltd (CIAL), raising his stake to 12.13% from 9.13%. Notably, CIAL remains one of India’s few consistently profitable airports, making this a strategic long-term bet on infrastructure as well.
The billionaire’s approach stands out in a market often driven by momentum: no sudden spikes, no headline-chasing trades, just calibrated accumulation backed by foresight.
And with the new 10% cap now in place, Yusuffali has even more room to deepen his bets. Whether he chooses to do so—or continues to play the long game—will be closely watched.