India’s Edelweiss Capital expects new business from high net worth clients to contribute half its revenues in a year, up from a third now, Chairman Rashesh Shah told Reuters in a recent interview.

The company says it has launched asset management, private equity and wealth management for high net worth individuals to its investment banking, institutional brokerage and treasury operations.

The company plans to manage between INR100 and 150 billion ($2.3 billion and $3.5 billion) for private clients in the next three to five years, Mr Shah said.

Mr Shah told Reuters that Edelweiss has opened 40 offices across India to offer wealth management services and would scale it up to 100 by the end of this financial year.

The company also intends to launch nine equity, debt, structured and exchange traded funds in the next year.