HDFC Asset Management Company (HDFCAMC) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 QAAUM was ₹9,691bn, up 10% YoY, with 11.1% industry share; closing AUM was ₹9,210bn, up 6%.

• Equity-oriented assets were 67.1% of QAAUM versus 57.5% for the industry; 17.7mn unique investors and 32.3mn live accounts were served.

Financial highlights

• Standalone Q2 revenue from operations was ₹11,689mn, up 14% YoY; operating profit was ₹9,069mn, up 16%, and PBT was ₹9,778mn, up 12%.

• Standalone Q2 reported PAT was ₹7,499mn, up 4%; excluding the prior-year ₹468mn tax credit, PAT grew 12%. H1 revenue was ₹22,674mn, operating profit ₹17,345mn, PBT ₹20,680mn and PAT ₹15,882mn.

• Consolidated Q2 revenue was ₹1,170.22 crore and PAT ₹748.73 crore; H1 revenue was ₹2,269.94 crore and PAT ₹1,585.86 crore.

• Consolidated Q2 PBT was ₹976.66 crore; H1 PBT was ₹2,065.68 crore. Unaudited standalone and consolidated results received limited review.

• Operating margin was 36 bps of AAUM, versus 35 bps in Q1 FY27.

Outlook and guidance

• Two SIF products are expected over the next few quarters, supported by investment in systems, processes, senior investment talent and distribution training.

• Regular operating expenses are expected to track inflation and business growth; investment spending will build capacity in people, technology, distribution and alternatives.

• Alternative products are being developed with a focus on investor outcomes; the Category II Select Opportunities Fund is fundraising and the Category III Emerging Opportunities Fund has achieved first close.