HDFC Life will report its Q3 earnings on Friday and CNBC-TV18 poll expects APE growth to be supported by non-par and participating products. The total annualised premium is expected to grow by 23 percent. The retail annualised premium is expected to see a growth of 19 percent.

Value of new business is expected to grow at 17 percent on a year-on-year basis and because there is a higher contribution from ULIP and lower contribution from protection, margins are expected to be subdued and moderate at this point.

Watch the accompanying video of CNBC-TV18’s Yash Jain for more details.