HDFC Life CEO Vibha Padalkar anticipates value of new business (VNB) margins will normalize by FY27, expecting near-term pressures from pricing and cost adjustments to ease within two to three quarters. The company is recalibrating its strategy post-GST, focusing on a product mix prioritizing protection, ULIPs with enhanced mortality cover, and long-term savings. HDFC Life plans continued investment in technology and proprietary channels to drive long-term capabilities, while noting strong sector growth driven by India's economic fundamentals and demographics.