Discount broking is the future: HDFC Sec MD

Investors are now choosing only discount platforms; full-service brokerages might only cater to HNIs in future

- BENN KOCHUVEEDAN @Mumbai

HDFC Securities, which entered the discount-broking space a little over a year ago, expects its low-cost broking arm HDFC Sky to turn profitable in the next fiscal.

This is on the back of the runaway success it notched up in the past 13 months in terms of customer acquisition (over 1.1 million as of December) and the rising trading volume on the platform. The company is not planning any share sale, citing strong financial performance.

The full-service brokerage and its discount broking arm have added 1.2 million new customers this fiscal so far, taking the total to 6.1 million. However, the number of active clients remains at 1.4 million. Of this, total additions - as much as 1.1 million - have been onboarded through the new platform.