NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Due to one-offs, the Q4 revenue yield was subdued for HDFC Asset Management Company Ltd. and hence Q3 yield is more comparable, where the revenue yield was 48 basis points. Hence, on a comparable basis, yield has declined in Q1 due to the launch of a largish NFO and the usual telescopic pricing.
The employee cost for Q1 has increased by 20% YoY, driven by increase in headcount, annual increments and additional spends on building alternatives business. The other operating cost for Q1 has increased by 28% YoY, driven by an increase in general business, new NFO during the quarter, KYC related expenses and outsourcing expenses.
The management has guided that the total opex would grow by 12-15% YoY in FY25.
We maintain ‘Add' rating on HDFC AMC with a revised price target of Rs 4750.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
