Broking industry aims to double customer count in 2 years: Mr. Dhiraj Relli

Reflecting on the evolving broking landscape, Mr. Dhiraj Relli, Managing Director and Chief Executive Officer of HDFC Securities, stated that the sector's rapid growth is driven by increasing retail investors from Tier-II and Tier-III cities and India's consistently high GDP growth rate. He emphasized the pivotal role of dematerialized (demat) accounts, which have surged from 20 million to 150 million due to digitization and the emergence of new players catering to diverse niches and segments. According to Mr. Relli, the rise of brokerage options has facilitated broader investor participation and industry expansion, a trend that HDFC Securities has embraced by offering various options tailored to various customer segments.

Regarding performance metrics, HDFC Securities has witnessed notable growth, with profitability increasing 2.5 times over the past four years and revenue surpassing US$ 299.67 million (Rs. 2,500 crore). The launch of HDFC Sky has further expanded its customer base, particularly among millennials and derivatives traders. At the same time, initiatives such as margin trade facilities and lending books have bolstered annuity income. Mr. Relli remains optimistic about the broking industry's prospects, anticipating significant growth in customer registrations and transaction volumes driven by India's digital growth trajectory and regulatory advancements. He projects robust compound growth, with half of India's population expected to engage in broking and investment services over the next decade.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.