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  3. HDFC securities expects low-broking arm Sky to turn in profit FY27

HDFC securities expects low-broking arm Sky to turn in profit FY27

29 Dec 2024

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Key Takeaways

HDFC Securities sees strong growth, and expects HDFC Sky profitability by FY25, with FY24 revenue forecasted at Rs 3,300 crore.


HDFC Securities sees strong growth, and expects HDFC Sky profitability by FY25, with FY24 revenue forecasted at Rs 3,300 crore.


HDFC Securities Unlisted Shares

HDFC Securities

-2.92%

Expert Analysis

HDFC Securities' Low-Cost Broking Arm Sky to Turn Profitable by FY27.

Expert Analysis:

  • Customer Acquisition and Growth: HDFC Securities’ discount broking platform, HDFC Sky, acquired over 1.1 million customers in 13 months, contributing to a total of 1.2 million new customers this fiscal.

  • Total Client Base and Active Clients: The company’s total client base now stands at 6.1 million, with 1.4 million active clients.

  • Profitability Plans for HDFC Sky: HDFC Sky is expected to become profitable in FY25 and break even by FY27, without increasing the Rs 20 per order charge for retail customers.

  • Margin Funding Business: The margin funding business, with a book size of Rs 7,500 crore, generates 13-15% monthly interest.

  • Revenue and Net Income for FY24: HDFC Securities expects a revenue of Rs 3,300 crore and net income of Rs 1,165 crore for FY24, up from Rs 950 crore last year.

  • No IPO Plans: The company has no plans for an IPO, citing strong profits and a Rs 1,000 crore rights issue raised last year.

  • Market Outlook for Nifty in 2025: Relli predicts modest returns, with the Nifty potentially reaching 26,580 points, currently trading at 23 times FY25 earnings and 20.5 times FY26 estimates.

Publisher:The New Indian Express