On July 28, 2006, Kotak Mutual Fund was adjudged the Business Leader in the Mutual Funds category at the "NDTV Profit Business Excellence Awards".

"NDTV Profit Business Excellence Awards" has been instituted to award companies that are the best in their respective fields - companies that have added value for their consumers, investors and the industry on the whole. The award is the new benchmark and a platform for recognising excellence in business for Indian companies.

The jury panel boasted of eminent personalities such as Mr. Amit Mitra (a board member of several companies such as SAIL, GAIL, etc.), Ms. Anu Aga (Director, Thermax), Dr. Bimal Jalan, (one of India's well-known economists), Mr. Narayana Murthy (Chairman and Chief Mentor of Infosys Technologies Limited), Dr. Prannoy Roy (Chairman and Whole-time Director at NDTV) and Mr. Suman Dubey (Dow Jones's Corporate Representative in India).

In order to arrive at the winners, an in-depth study was conducted over a period of 5 months. The study was split into various stages which included analysis of market data, self - evaluation by senior management and peer group evaluation. Based on the findings of the study, 5 nominees were selected from each vertical. This was the final stage where the jury ranked the winners.

In the Mutual Funds Category, Kotak Mahindra Asset Management Company was pitted against Franklin Templeton Investments, HDFC Mutual Fund, UTI Mutual Fund and SBI Mutual Fund.

Sandesh Kirkire, CEO - Kotak Mahindra Asset Management Company, received this award from the Prime Minister of India Dr. Manmohan Singh, watched by industry leaders from around the country.