HDFC Life Q1 Results Review - Management Expects APE Growth To Drive New Business Growth: Yes Securities

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.Management expects HDFC Life Insurance Company Ltd. to do better than industry annual premium equivalent growth, which in turn would drive value of new business growth: For the quarter, the APE was Rs 28,660 million down by -39.4% QoQ but up 23.1% YoY. The company will target growing retail new business APE at a pace faster than the industry. The company’s target is to grow absolute VNB and is willing to allow margin to fluctuate in a range in order to deliver growth. The company will target doubling VNB over four years on a consistent basis. The counter share on HDFC Bank was 66% by the end of Q1 FY25 compared with 56.5% in Q1 FY24 and is expected to go up more. The agency channel has grown at 14%, which could have been faster but the company is focused on profitable growth. The company has added 18,500 agents in Q1 FY25, which is the highest in the industry.We maintain an ‘Add’ rating on HDFC Life with a revised price target of Rs 705..Click on the attachment to read the full report:.HDFC Life Q1 Result Review: Value Of New Business To See Growth, Say Analysts.DISCLAIMERThis 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.

HDFC Life Q1 Results Review - Management Expects APE Growth To Drive New Business Growth: Yes Securities

Declining ULIP share to somewhat offset impact from surrender regulation, says the brokerage.

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HDFC Life Q1 Results Review - Management Expects APE Growth To Drive New Business Growth: Yes Securities

Declining ULIP share to somewhat offset impact from surrender regulation, says the brokerage.

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