HAHDFC Asset Management Company541729Earnings call transcript

Earnings call transcript: Q2 FY27 average AUM INR9.69 trillion, revenue up 14% year-on-year

The Q2 FY27 earnings call transcript is out.

By ScoutQuest · Wed 21 Oct 2026, 12:19 PM IST · 2 min read

Quarterly average AUM

INR9.69 trillion, up 10% year-on-year

Revenue from operations

INR11.7 billion (+14%)

Profit before tax

INR9.8 billion (+12%)

What this document is

The transcript of the Q2 FY27 earnings conference call held on October 15, 2026, covering the quarter and half year ended September 30, 2026. Management present: Navneet Munot (MD and CEO), Naozad Sirwalla (CFO) and Simal Kanuga (Chief Investor Relations Officer). It carries the opening remarks and the start of the analyst question and answer session.

Scale of the business

• Quarterly average AUM: INR9.69 trillion, up 10% year-on-year and 4% sequentially.
• Equity-oriented assets: INR6.51 trillion, or 67.1% of AUM, against 57.5% for the industry.
• Actively managed equity AUM: INR6.08 trillion, up 14% year-on-year, with a 12.7% market share.
• Debt AUM: INR1.62 trillion with a 13% market share; liquid AUM INR860 billion, up 10% year-on-year.

Investor base and flows

• Live individual accounts rose to 32 million from 26 million a year ago.
• Unique investor base: 17.7 million, a penetration of 28%.
• 3.2 million unique investors added over the last year, against 6.3 million added by the industry.
• Systematic flows (SIPs and STPs) were INR48 billion in September, up 6% year-on-year, across 19 million transactions.

Financials for the quarter

• Revenue from operations: INR11.7 billion, up 14% year-on-year.
• Operating profit: INR9.1 billion, up 16%, with an operating margin of 36 basis points of AUM.
• Profit before tax: INR9.8 billion, up 12%.
• Management noted that reported PAT is not directly comparable year-on-year, because the September 2025 quarter benefited from a INR468 million reversal of income tax provision.

Yields for the quarter

• Active equity: 61 basis points; overall equity: 58 basis points; debt: around 28, 29 basis points; liquid: 13 basis points.
• The sequential improvement was attributed largely to asset mix change, described as not a material movement and slightly upwards from the previous quarter.

New businesses and launches

• Two new AIFs were launched during the quarter: a Category II equity fund focused on private markets, where first close is anticipated in this quarter, and a Category III fund investing in listed securities, which achieved first close during the last quarter.
• The company started managing the EPFO fixed income mandate during the quarter gone by.

Industry backdrop shared on the call

• Nifty 50 gained about 2% in July, declined modestly in August and corrected 6% in September; markets ended the quarter down around 5%.
• Equity-oriented funds attracted net inflows of INR1,161 billion, and September was the 67th consecutive month of positive equity flows.
• Monthly SIP contributions reached a new high of INR325 billion in September, against INR294 billion a year ago and INR318 billion in June 2026; contributing SIP accounts crossed the 100 million mark.
• Debt mutual funds recorded net outflows of INR607 billion, while liquid funds saw net inflows of INR457 billion, ETFs INR367 billion and arbitrage funds INR63 billion.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev