During the quarter, the company added 7 more B-30 locations, whose contribution to the monthly average AUM is 12.9 percent.
Net Interest Income (NII) is expected to increase by 10.4 percent Y-o-Y (up 5.2 percent Q-o-Q) to Rs. 531 crore, according to KR Choksey.
Profitability impact due to reduction in TER on existing assets will be limited or negligible, as HDFC AMC has decided to pass on most of the cost to the distributors. On the incremental flows, the P&L impact will be more gradual.
Following its strong price performance since listing, valuations are definitely rich. Given HDFC AMC's best-in-class return ratios, we see premium valuations sustaining and expect the stock to be a long term compounder