Project Inspire: 'Future Proofing' HDFC Life

24 VNB and NBM walkthrough Including Exide Life in Q1 FY23 base 5.2 Rs bn 6.1 0.7 0.0 0.1 0.1 Q1 FY23 25.1% Impact of higher APE Change in assumptions 0.0% 0.1% New Business Profile¹ 0.5% Fixed cost absorption 0.5% Q1 FY24 26.2% NBM% Excluding Exide Life in Q1 FY23 base NBM% 5.1 1.1 0.0 0.1 0.3 6.1 Q1 FY23 Impact of higher APE Change in assumptions New Business Profile1 Fixed cost absorption Q1 FY24 26.8% 0.0% 0.1% 0.4% -1.1% 1. Reflects the impact of difference in mix of segment/distribution channel/tenure/age/sum assured multiple etc Note: VNB - Value of New Business; NBM - New Business Margin; Numbers may not add up due to rounding off 26.2% HDFC Life

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