HDFC Life reported profit after tax of ₹1,119 crore for the half-year ended 30 September 2026, up 12.7% from ₹994 crore a year earlier, according to Kotak Neo. The value of new business was ₹2,037 crore, up 12.1% from ₹1,818 crore. The report gives no separate standalone profit figure for the second quarter.
Growth and margin
The new business margin was 24.7%, up from 24.5%. Total annualised premium equivalent, or APE, was ₹8,245 crore, up 11% from ₹7,413 crore. Individual APE was ₹7,080 crore, up 9% from ₹6,471 crore. The report says second-quarter VNB grew 14.8% and overall APE grew 13%.
Premium
Total premium was ₹39,569 crore, up 16% from ₹34,162 crore. New business premium was ₹19,126 crore, up 18%, and renewal premium was ₹20,443 crore, up 14%. Individual weighted received premium grew 11% in the second quarter.
Balance sheet and market share
Assets under management were ₹4,09,673 crore, up about 14% from ₹3,59,999 crore. Embedded value was ₹66,461 crore, and the rolling 12-month operating return on embedded value was 14.9%. The company's individual market share was 16.2%, up from 16.1% in the first quarter of FY27. The report does not give a solvency ratio.
The share price
HDFC Life shares rose 1.19% to close at ₹550.55 on the NSE on 15 October 2026.
Key numbers
- Profit after tax: ₹1,119 cr (+12.7% YoY)
- Value of new business: ₹2,037 cr (+12.1% YoY)
- New business margin: 24.7% (From 24.5%)
- AUM: ₹4,09,673 cr (About +14%)
What boards and CFOs should note
Three points stand out for finance teams. First, new business premium grew faster than renewal premium, at 18% against 14%. Second, VNB grew 12.1% over the half-year but 14.8% in the second quarter alone, so growth sped up within the period. Third, the margin edged up by 0.2 percentage points to 24.7%, a small change next to the 12.1% VNB growth.
Source: Kotak Neo, updated 16 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
