Questions across 23 calls

Swarnabh Mukherjee

B&K Securities

HDFC Life Insurance Company Limited

HDFC Life Insurance Company Limited CC-Sep23.pdf · 2023-10-13

Good afternoon and thank you for the opportunity. A couple of questions. First on growth , for slower growth in H1, you alluded that in several channels would have five lakh-plus products in their base last year, which is impacting. So just wanted to understand that as we move in H2, what would be the situation in those channels again for the second half of last year? Would smaller ticket size growth be sufficient to cover up for that and meet the ask rate? The strong growth in banca that we have seen at 19%, if you could break it down into what is the growth at the HDFC Bank channel vis-a-vis other banca partners? What is driving the growth? So that is one. And secondly, if you could highlight in terms of the EV walk that you have given. If I strip out second quarter from the numbers that you have given for H1, the economic variance numbers appear to be negative. What is driving that g iven the market conditions and how the yield curve has moved over the last three months, if you can give some color?

Just a follow-up on that. The fact that, we have started to see strong growth in tier 2 and tier 3 markets. Moving into FY25, do you think that s uch a growth rate would be sustainable given that we again will have a reasonable base of that and other competitors would also be focusing on that market, given similar scenarios we were facing in the tier 1 market. Is that number sustainable as per your view?

Angel One Limited

Angel One Limited CC-Sep23.pdf · 2023-10-13

Yes. So first of all, I'd like to congratulate all of you for the strong performance that you have reported. Now coming to questions. First question is on the assisted part of the business. So in slide six, you have given some color on how -- what is the plan, but I request you to give it a little bit more granular and in a qualitative manner so that we can understand for this part of -- the journey of the business is expected from this part. And given that you have mentioned the involvement of leading DSAs and mutual fund distributors, so are we eventually going to mold this part of business into a national distributor kind of a model? And will retail the -- our core focus areas? Or are we going to kind of move up the scale and target the HNI as well? So that is the first question. Secondly, sir, I also wanted to understand a couple of things on the recent business performance. First of all, the strong increase in the number of orders that we are recording per day. So, what would be the reasons, if you could break it down? So apart from the fact that the overall market remains buoyant, how is activation of new customers going on? How is that resulting in -- BSE also ramping up in volume? And similar levers, if you could point out in a little bit more detail on that. And thirdly, relat ed to the customer acquisition, I wanted to understand the strong growth we are seeing, how would be the contribution of the AP channel related to that and directives that have come up, where we are standing on that. So, these are my questions.

Yes, so -- second part on the assisted business, was that once we embark on the plan and thank you, Nishant, for giving this color. So, once we embark on this plan, will it kind of center around our existing customer -- kind of customers we tap in to right now, say, younger customers and I think an increasing mix towards Tier 2, Tier 3 customers? Or shall we also kind of gravitate towards maybe more higher ticket customers and be more -- act like more a wealth outfit in the making? So that was, I think, my second part of the question on the assisted sales.

HDFC Asset Management Company Limited

HDFC Asset Management Company Limited CC-Sep23.pdf · 2023-10-12

Yes. Hi, good afternoon and thank you for the opportunity and congrats on a good set of numbers, sir. So first, I think on the yield side, a couple of quick questions. One is that you were mentioning 67 bps on the equi ty side, the yield is. So just wanted to clarify, does that also include index fund or would that be classified separately under passive? And if so, then what would the yields be for the passive side of the portfolio?

Right, sir. And also , just wanted to confirm that -- what you mentioned that the yields for the flows in the existing schemes in that 50, 60 bps kind of a range. So , does this hold steady or because there has been flows that have come in over this quarter, particularly, I mean, if you see the balanced advantage funds also maybe traction additionally, I mean it is think now INR60,000 crores plus. So is there some dilution because of increased flow and subsequently sizes of this funds are moving up one notch higher. If you can throw some color on that? And also, I mean -- so this kind of yield which we have seen this quarter, what would be your view? Should it sustain in when the security market continues to remain strong or would you still guide for some slow contraction in this?