HDFC Life gets National Award for excellence in Cost Mgmt

HDFC Life received first prize under the category of Private-Service Sector (Large) Companies.

September 03, 2013 3:28 IST | India Infoline News Service
HDFC Life, India’s leading long term private life insurance solutions provider, has been recognized for its excellence in cost management at the 10th National Award for Excellence in Cost Management organized by Institute of Cost Accountants of India. HDFC Life received first prize under the category of Private-Service Sector (Large) Companies.

Speaking on this achievement, Vibha Padalkar, ED & CFO, HDFC Life said, “In tough economic conditions, managing costs is the prime agenda for every company and I’m extremely gratified that our team, through our effective cost management tools and techniques has succeeded in optimizing costs and reducing the cost to revenue ratio which contributed to profitability.   This award from the Institute of Cost Accountants of India will help boost the morale of the team, and motivate us to put our best foot forward and continue to excel in the future.”

The awards were organized by the Institute of Cost Accountants of India with an objective to felicitate and recognize corporate organizations in their journey towards excellence in cost management. Companies were awarded for best cost management practices in different categories within Service and Manufacturing sectors divided into public/private sectors in large, medium and small organizations. The winners for award were selected by a distinguished jury consisting of people of eminence from Industry, Academics and Administration. The criteria for selection were leadership in cost management techniques, efficient utilization of capacity and working capital, quality augmentation, and precise information on performance.

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