HDFC Asset Management Company Ltd.Revenue +14%, margin 36 bps

HDFC Asset Management Company reported Q2 FY27 revenue from operations of ₹1,170 crore, up 14% year-on-year.

Operating profit was ₹910 crore, up 16%, with an operating margin of 36 basis points of average AUM. Profit before tax was ₹980 crore, up 12%; reported profit after tax is not comparable year-on-year because the September 2025 quarter included a ₹46.8 crore reversal of an income tax provision. Quarterly average AUM was ₹9.69 lakh crore, up 10% year-on-year and 4% sequentially, with equity-oriented assets at 67.1% of AUM against 57.5% for the industry.

Actively managed equity AUM grew 14% to ₹6.08 lakh crore, a 12.7% market share, and debt AUM was ₹1.62 lakh crore, a 13% share. The company has 17.7 million unique investors, a 28% penetration. Systematic flows were ₹4,800 crore in September, up 6%, with softness coming from systematic transfer plans. Management launched two alternative funds and began managing the EPFO fixed income mandate. It said the full-year non-cash ESOP expense would be around ₹79 crore to ₹80 crore and expects SIF product launches over the next couple of quarters.