Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026 (Q2 FY27)

Nature of Filing / Announcement: Outcome of Board Meeting - Financial Results and Corporate Approvals

Audit Opinion:

The financial results have been subject to limited review by joint statutory auditors M/s BSR & Co. LLP and M/s KKC & Associates LLP. The review reports expressed an unmodified conclusion, meaning nothing came to their attention that causes them to believe the financial results contain material misstatements.

Key Financial Highlights [₹ in lakh]:

Standalone Results:

Quarter ended September 30, 2026:

  • Revenue from Operations (Net Premium Income): ₹2,172,737
  • Total Income: ₹2,408,036
  • Net Profit: ₹50,800
  • EPS: ₹2.34 (Basic and Diluted)

Half Year ended September 30, 2026:

  • Revenue from Operations (Net Premium Income): ₹3,827,534
  • Total Income: ₹5,739,385
  • Net Profit: ₹111,942
  • EPS: ₹5.17 (Basic), ₹5.16 (Diluted)

Comparison with previous periods:

  • Q2 FY27 Net Profit of ₹50,800 crore increased 13.6% YoY from ₹44,715 crore in Q2 FY26
  • H1 FY27 Net Profit of ₹111,942 crore increased 12.7% YoY from ₹99,361 crore in H1 FY26

Balance Sheet Position (Standalone as at September 30, 2026):

  • Share Capital: ₹217,259
  • Reserves & Surplus: ₹1,692,338
  • Total Borrowings: ₹309,900
  • Cash and Cash Equivalents: ₹49,384
  • Total Assets: ₹41,248,625

Consolidated Results:

Quarter ended September 30, 2026:

  • Revenue from Operations (Net Premium Income): ₹2,185,579
  • Total Income: ₹2,422,535
  • Net Profit: ₹52,160
  • EPS: ₹2.41 (Basic and Diluted)

Half Year ended September 30, 2026:

  • Revenue from Operations (Net Premium Income): ₹3,858,342
  • Total Income: ₹5,776,705
  • Net Profit: ₹113,279
  • EPS: ₹5.23 (Basic), ₹5.23 (Diluted)

Balance Sheet Position (Consolidated as at September 30, 2026):

  • Share Capital: ₹217,259
  • Reserves & Surplus: ₹1,699,307
  • Total Borrowings: ₹309,900
  • Cash and Cash Equivalents: ₹71,483
  • Total Assets: ₹41,302,635

Premium Performance:

Gross Premium Income (Standalone) for Q2 FY27:

  • First Year Premium: ₹392,666 (YoY growth of 9.7% from ₹357,946)
  • Renewal Premium: ₹1,141,987 (YoY growth of 10.5% from ₹1,033,711)
  • Single Premium: ₹705,596 (YoY growth of 31.4% from ₹536,995)
  • Total Gross Premium: ₹2,240,249 (YoY growth of 16.4% from ₹1,928,652)

Segment-wise Performance [₹ in lakh]:

Standalone Segment Revenue for Q2 FY27:

  • Participating - Individual & Group Life: ₹495,411
  • Participating - Individual & Group Pension: ₹29,273
  • Non-Participating - Individual & Group Life: ₹1,135,356
  • Non-Participating - Life Group Variable: ₹27,475
  • Non-Participating - Individual & Group Pension: ₹27,863
  • Non-Participating - Individual & Group Pension Variable: ₹38,898
  • Non-Participating - Individual & Group Annuity: ₹290,469
  • Non-Participating - Individual & Group Health: ₹1,169
  • Unit Linked - Individual Life: ₹246,996
  • Unit Linked - Individual Pension: ₹9,218
  • Unit Linked - Group Life: ₹109,370
  • Unit Linked - Group Pension: ₹2,087

Corporate Actions:

Dividend: No interim or final dividend declared during the period

Fundraising:

  • Board approved raising funds through issuance of Non-Convertible Debentures (NCDs) in the nature of subordinated debt instruments up to ₹500 crore (Rupees five hundred crore only)
  • To be issued in one or more tranches on private placement basis
  • Subject to compliance with SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024

Expansion:

  • Board approved establishment of International Financial Services Centre (IFSC) Insurance Office (IIO) at Gujarat International Finance Tec-City (GIFT), IFSC
  • Subject to approvals from IRDAI, IFSC Authority, and shareholders
  • Shareholder approval to be sought through postal ballot process

Analytical Ratios:

As at September 30, 2026:

  • Solvency Ratio: 180% (Standalone and Consolidated)
  • Expenses of Management Ratio: 21.9%
  • Persistency Ratio (13th month premium basis): 79.4%
  • Persistency Ratio (25th month premium basis): 70.0%
  • Persistency Ratio (61st month premium basis): 65.9%

Other Significant Information:

Subsidiaries Included in Consolidation:

1. HDFC Pension Fund Management Limited (formerly HDFC Pension Management Company Limited)

2. HDFC International Life and Re Company Limited

Employee Stock Options:

  • During the quarter, company allotted 114,000 equity shares of face value of ₹10 each pursuant to exercise of employee stock options

Notes:

  • Figures for previous periods have been regrouped wherever necessary for comparability
  • Results of interim periods are not necessarily indicative of full-year results due to industry seasonality
  • The amounts for the quarter ended September 30, 2026 are balancing amounts between the six months results and the quarter ended June 30, 2026 results