It is lonely at the top…but surely Hdfc will not mind it. Hdfc Mutual fund became the biggest mutual fund and toppled Reliance to reach that position. Hdfc in most businesses is like the proverbial tortoise…Slow and steady, plod, plod….but once you reach there stick to that position!
So Congrats Milind Barve and team for this achievement…remember meeting you the week you were selected to head it..been a nice long rewarding relationship, no major regrets.
Starting with an initial capital of Rs. 10 crores…today it has profits of Rs. 242 crores. Any businessman would be happy with such fantastic profitability, and I am sure your shareholders are also happy.
Profitability of a company is seen with respect to the amount and time invested, not the size of the assets. If I were a shareholder (I heard there is a public issue coming, is it true?), I would be happy.
However an ex fund manager who thinks ALL investors are idiots thinks your profitability is poor – imagine earning ONLY Rs. 242 cores for managing almost Rs. 100,000 crores! it is just 0.24% – and according to this fund that is a poor margin.
Hmmm….in a world where you can say whatever you want, LISTEN….TO THE voice of reason!!
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