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Analyst Meet / AGM
02-Feb-16
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Conference Call
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IDFC
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RoEs of IDF-NBFC to improve to 15-17% in next 2-3 years
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IDFC conducted concall on 01 February 2016 to discuss financial results for the quarter ended December 2015. Vikram Limaye, MD & CEO, Sunil Kakar, Group Chief Financial Officer addressed the call:
Highlights:
- The company has recorded net profit of Rs 176.18 crore for the quarter ended December 2015.
- The balance sheet size of the company stood at Rs 89259 crore, while networth stood at Rs 9997 crore at end December 2015.
- The company has 53% stake in the bank. About Rs 128 crore of PAT was contributed by the bank, while rest was contributed by other subsidiary.
- The bank and IDF are well capitalized, while the capital infusion needs to alternatives are taken care at the time of demerger.
IDFC Bank
- The banking subsidiary has maintained the asset quality stable in Q3FY2016 with strong provisions cover. Net NPA were at 1% and net restructured accounts at 4.3%.
- The bench network of the bank stood at 24 branches, of which about 16 branches were in the Bharat Bank division, 7 branches in Commercial & Wholesale Bank and 01 branch in Personal & Business Bank division.
- Bank has generated healthy non-fund business in Q3FY2016, which touched over 5% of credit outstanding.
- Bank is well Capitalized Bank with total Capital Adequacy Ratio (CAR) of 20.3% and Tier 1 CAR of 19.6% under Basel III.
IDFC IDF
- Outstanding portfolio consisted of 17 assets amounting to Rs 735 crore at end December 2015, which has crossed Rs 1000 crore mark in January 2016.
- Raised bonds of Rs 705 crore through five issuances.
- The capital base of the company stands at Rs 500 crore with Tier-I Capital of Rs 473 crore at end December 2015.
- The company has top rating of AAA category.
- RBI granted an extension upto 2 years (25 November 2017) to dilute equity holding of IDFC NOFHC to 49%.
- The IDF would get a boost, once the private investment environment improves.
- The IDF can finance all operating infrastructure assets, which provides large lending opportunities.
- The business is tax exempt, enabling to offer better rates to borrowers, while generating higher returns.
- The company expects RoE of IDF to increase to 15-17% in next 2-3 years.
- The company would partner with IDFC bank for fueling growth.
IDFC AMC
- The mutual funds business has average AUM of Rs 54440 crore at end December 2015. The equity AUM comprised 26% of total AUM
- Total Market share of the mutual funds stood at 4.1% (Debt: 5.3%; Equity: 3.0%).
IDFC Alternatives
- The business manages AUM of over Rs 16000 crore across 7 funds in 3 asset classes.
- The business has total of 71 investments across funds.
IDFC Securities
- The company is focusing on enhancing institutional sales.
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