Aditya Khemka: InCred CIO, Career and Investment Work

Last Updated on August 16, 2026 by Fame Katha Editorial Team

Introduction

Aditya Khemka is an Indian investment professional who serves as the Chief Investment Officer of InCred Asset Management. He is mainly known for his work in equity investing, portfolio management, and the healthcare and pharmaceutical sectors.

As of August 2026, he remains part of the senior investment leadership at InCred Asset Management. His professional journey includes experience with Glenmark Pharmaceuticals, Lehman Brothers, Nomura, Ambit Capital, DSP Investment Managers, and InCred.

He has spent many years studying healthcare businesses, pharmaceutical companies, company cash flows, valuations, and long-term investment opportunities.

There are several professionals with the same name. Because of this, readers searching public figure profiles on FameKatha should note that this article is only about the Aditya Khemka connected with InCred Asset Management, DSP, Nomura, and healthcare investing.

Quick Fact

Quick Fact	Details
Full Name	Aditya Khemka
Profession	Investment Professional, Fund Manager
Current Role	Chief Investment Officer at InCred Asset Management
Known For	Healthcare and pharmaceutical investing
Industry	Asset Management and Finance
Current Company	InCred Asset Management
Previous Firms	DSP Investment Managers, Ambit Capital, Nomura, Lehman Brothers, Glenmark Pharmaceuticals
Career Start	2005
Education	B.Com, postgraduate management studies, M.Sc. in Finance
MDI Batch	2004–2006
Main Investment Style	Bottom-up stock selection
Specialist Area	Healthcare and pharmaceutical equities
Joined InCred	2020
Whole-time Director Since	May 7, 2024
Current Status	Active as CIO as of August 2026

Who Is Aditya Khemka?

Aditya Khemka is a fund manager and investment executive with more than 15 years of experience across finance, research, portfolio management, and the healthcare business.

His career is different from that of other people who share his name. He should not be confused with the Aditya Khemka linked with CP PLUS and Aditya Infotech or with other professionals in medicine and academics.

In the investment industry, he is best known for his deep focus on healthcare companies.

His experience covers several areas, including:

• Pharmaceutical businesses
• Healthcare companies
• Equity research
• Fund management
• Portfolio management
• Long-term stock selection
• Company valuation
• Cash-flow analysis

This combination of business and financial-market experience helped him build a career focused on understanding how healthcare companies operate and how investors can study them.

Current Role at InCred Asset Management

As of August 2026, Aditya Khemka serves as Chief Investment Officer at InCred Asset Management.

Official company disclosures have also identified him as a fund manager and Principal Officer. He became a Whole-time Director of the company effective May 7, 2024.

His responsibilities include investment research, portfolio decisions, and management of equity strategies.

He is particularly associated with InCred’s healthcare-focused investment products.

These include the:

• InCred Healthcare Portfolio
• InCred Focused Healthcare Equity strategy

His role has grown over time. He first became widely associated with InCred as a specialist healthcare portfolio manager before taking on a broader CIO position.

Education

Public regulatory information from InCred lists his educational qualifications as including:

• Bachelor of Commerce
• Postgraduate management or business education in Finance and Marketing
• Master of Science in Finance

Management Development Institute Gurgaon has also identified him as an alumnus from the 2004–2006 batch.

His education gave him a foundation in business, finance, markets, and management before he moved deeper into healthcare research and investing.

Career Beginning at Glenmark Pharmaceuticals

His professional journey began in 2005 at Glenmark Pharmaceuticals.

This early experience is important because he did not begin his career only by studying companies from the outside as an investor.

He first gained experience inside the pharmaceutical business.

His work with Glenmark included exposure to international markets, including Brazil and Argentina.

Historical professional material also connects his work at Glenmark with areas such as treasury, working capital, debt, and financial analysis.

This experience gave him direct knowledge of how pharmaceutical companies manage money and business operations.

Move to Lehman Brothers

In 2007, he moved to Lehman Brothers in the United States.

There, his work focused on healthcare and pharmaceutical research.

He covered companies operating in the US generic-drug market, including major pharmaceutical businesses such as Teva and Mylan.

This stage of his career moved him from the operating side of the pharmaceutical industry toward investment research and financial markets.

Career at Nomura

In 2008, he joined Nomura in the United Kingdom.

His research responsibilities included major international pharmaceutical companies such as GSK, Novartis, and Sanofi.

He later moved to India with Nomura in 2011.

After returning to India, his research focus included the Indian healthcare market.

By this point, he had already gained professional exposure to pharmaceutical markets in Latin America, the United States, Europe, and India.

That international background became an important part of his healthcare-investment experience.

Work at Ambit Capital

His professional record also includes work at Ambit Capital, where he served in an equity-research role.

This added another stage to his experience in analysing listed businesses and understanding investment opportunities.

His career gradually developed from pharmaceutical operations into equity research and eventually into professional fund management.

DSP Investment Managers

Khemka later joined DSP Investment Managers.

At DSP, he worked in research and fund management.

He became one of the fund managers of the DSP Healthcare Fund.

Historical DSP records show that he was associated with managing the healthcare scheme from its early period after its launch in 2018.

His tenure with the fund continued until September 11, 2020.

This role strengthened his public reputation as a specialist in healthcare and pharmaceutical investing.

Rather than covering every industry at the same level, much of his professional identity became connected with businesses such as drug makers, hospitals, diagnostics companies, and other healthcare-related firms.

Joining InCred

In 2020, he moved from DSP to InCred.

His experience in healthcare investing became an important part of InCred’s portfolio-management business.

The InCred Healthcare Portfolio later began with an inception date of February 15, 2021.

The strategy focuses on opportunities within India’s healthcare ecosystem.

Depending on market conditions and company quality, the portfolio can study businesses connected with areas such as:

• Pharmaceuticals
• Hospitals
• Diagnostics
• Healthcare services
• Drug manufacturing
• Contract research and manufacturing
• Medical businesses

The investment approach is based mainly on studying individual companies instead of simply buying every company within a sector.

Investment Style

One of the main themes connected with Khemka’s investing approach is bottom-up stock selection.

Bottom-up investing means studying individual companies carefully before making a decision.

Instead of starting only with predictions about the overall stock market, this approach looks at questions such as:

• Is the business financially strong?
• Can the company generate cash?
• Does it have pricing power?
• Is management using money carefully?
• Can earnings grow over time?
• Is the stock price reasonable compared with the business?
• Does the company have a sustainable advantage?

His public investment discussions have frequently focused on cash flow, business quality, valuation, and the ability of a company to grow for a long period.

This style can lead to a portfolio containing fewer carefully selected companies instead of a very large number of stocks.

Healthcare Investment Focus

Healthcare has remained one of the strongest themes throughout his professional career.

His background is unusual because it combines both pharmaceutical-company experience and investment-market experience.

He has studied healthcare businesses from several perspectives.

At Glenmark, he saw the industry from inside a pharmaceutical company.

At Lehman Brothers and Nomura, he studied major listed healthcare companies as an analyst.

At DSP and InCred, he moved into direct portfolio management.

This long connection with the sector explains why healthcare investing remains central to his public professional profile.

Assets Managed at InCred

Public portfolio-management data provides information about the size of the strategies managed under InCred.

As of July 31, 2026, available portfolio-industry data listed approximately:

• ₹730.87 crore in assets under management for the InCred Healthcare Portfolio
• ₹174.65 crore for the InCred Focused Healthcare Equity strategy

These figures describe money managed within investment strategies.

They should not be confused with his personal wealth or net worth.

Assets under management can also rise or fall because of investment performance, new investor money, withdrawals, and market movements.

Growth Into a CIO Role

His career at InCred gradually expanded beyond being known only as a healthcare fund manager.

By 2024, company records identified him as a Whole-time Director.

Later professional material identified him as Chief Investment Officer.

As of August 2026, InCred continues to list him in its senior investment leadership.

This means his responsibilities now include a broader role in investment management while his healthcare experience remains an important part of his professional work.

Why Is Aditya Khemka Known?

He is mainly known for four reasons.

First, he has spent many years studying healthcare and pharmaceutical companies.

Second, his career includes respected financial and investment firms such as Lehman Brothers, Nomura, DSP Investment Managers, and InCred.

Third, he managed healthcare-focused investment funds and portfolios.

Fourth, he moved from sector research and fund management into a senior CIO position.

His professional story is therefore mainly about the connection between healthcare knowledge and long-term equity investing.

Is Aditya Khemka the CP PLUS Businessman?

No.

The investment professional discussed in this article is not the Aditya Khemka associated with CP PLUS or Aditya Infotech.

The InCred executive built his career around pharmaceuticals, equity research, healthcare funds, and asset management.

Keeping these identities separate is important because information about their careers, education, companies, and business interests should not be mixed.

What Did Aditya Khemka Do Before InCred?

Before joining InCred, he worked across several organisations.

His major documented career path includes:

2005: Glenmark Pharmaceuticals
2007: Lehman Brothers in the United States
2008: Nomura in the United Kingdom
2011: Nomura India
Later: Ambit Capital
Later: DSP Investment Managers
2020: Joined InCred
2024: Became Whole-time Director of InCred Asset Management
Current: Chief Investment Officer at InCred Asset Management

This career path shows a gradual move from pharmaceutical business experience to research, professional investing, portfolio management, and senior investment leadership.

What Does He Invest In?

His best-known work focuses on healthcare-related companies.

Depending on the investment strategy and market conditions, this can include businesses involved in:

• Medicines
• Hospitals
• Diagnostics
• Pharmaceutical manufacturing
• Healthcare services
• Contract research
• Drug development
• Medical businesses

However, professional portfolios can change over time.

A company held in one month may not remain in the portfolio permanently.

For this reason, old portfolio holdings should not automatically be treated as current investments.

Final Summary

Aditya Khemka is a senior Indian investment professional currently serving as Chief Investment Officer of InCred Asset Management.

His career began at Glenmark Pharmaceuticals in 2005 before moving through Lehman Brothers, Nomura, Ambit Capital, and DSP Investment Managers.

He later joined InCred in 2020 and became closely associated with its healthcare investment strategies.

His experience combines pharmaceutical-business knowledge, equity research, and professional fund management.

Today, he is mainly recognised for his work in healthcare investing, his long experience studying pharmaceutical companies, and his senior leadership role at InCred Asset Management.