Highlights:

• The company has adopted Ind AS accounting standard in Q1FY2019. The shift to Ind AS pushed up net worth to Rs 6600.6 crore for FY2018 from Rs 6305.5 crore under IGAAP.
• The loan portfolio of the company increased 45% to Rs 63906 crore, while the loans sold outstanding surged 70% to Rs 4672 crore end June 2018 over June 2017. The overall AUM of the company jumped 47% to Rs 68578 crore end June 2018 over June 2017. The company has posted 16% increase in sanction volumes in Q1FY2019.
• The company intends to securitize 8-10% of the total AUM for better liquidity management.
• The disbursements of the company increased 25% to Rs 9767 crore in the quarter ended June 2018, driven by increased distribution through expansion of branch network over the past year. About 30% of the fresh disbursements were contributed by newly added branches in Q1FY2019.
• The company has added 23 new branches in FY18, while one new branch was opened in Q1FY19. The company expects to add 24 more branches in FY2019.
• The company expects its loan yields to benefit from increase of 25 bps in reference rates on the entire floating loan book accounting for 70% of the total loans effective from 1 April 2018, while the company has further raised reference rate by 15 bps on new loans effective from 1 July 2018. However, the interest rates hike takes about 105 days to completely pass on to the floating rate loans
• As per the company impact of effective interest rate under Ind AS is minor on their NIM level. The cost of bank borrowings stood at 8.3-8.6% end June 2018.
• As per the company the higher operating expenses in Q1FY2019 were mainly on account of new branch addition and ESOP expense worth Rs 4.5 crore.
• The company has exhibited increase in individual loan segment GNPA ratio to 0.44% end June 2018 from 0.35% end March 2018. GNPA ratio for the non-housing segment stood at 0.41% end June 2018.
• The company has maintained a contingency provision of Rs 145 crore over & above the ECL provision requirement for the quarter.