Highlights:

* The consolidated balance sheet of IDFC stood at Rs 106216 crore, while consolidated net worth was Rs 10298 crore at end June 2016. The consolidated PAT was Rs 182 crore in Q1FY2017.

* Performance of banking subsidiary was strong with the net profit of Rs 265 crore in Q1FY2017, while its balance sheet crossed Rs 1 lakh crore mark at end June 2016. The distribution network of bank now has over 400 points of presence, around 60000 customers and its products suite for retail and corporate customer is almost complete.

* Mutual fund business has been growing very profitably. In the month of June the average AUM of mutual fund business was Rs 55000 crore, of this equity AUMs were close to 23%. PAT was Rs 22 crore in Q1FY17.

* Infrastructure Debt Fund (IDF) has 28 assets totaling to Rs 1346 crore as at end June 2016 well diversified across renewables, IT SEZs, roads, education and healthcare. In Q1FY17 PAT was Rs 17 crore. The business is expected to gain momentum.

* In Alternatives AUM is over Rs 16379 crore in seven funds across three asset classes -infrastructure, private equity and real estate. The company is in conversation with investors domestically and internationally to raise new funds in private equity and real estate. The company should be announcing domestic first close of private equity fund in the next month at about Rs 500 crore. The real estate fund has already raised Rs 650 crore with a target of final close of Rs 750 crore approximately which is hoped to bed achieved in the next month or two. PAT from this business was Rs 6 crore in Q1FY17.

* In Securities business, the company has strengthened institutional sales and research to service FII and domestic institutional investors. In Q1FY17, the securities business has delivered a PAT of Rs 3 crore.

* All businesses owned by IDFC are profitable and well-positioned for growth. Over the next few years, the company expects significant increase in assets under IDF and AUMs under Alternatives and mutual fund.

* There are lots of undisbursed sanctions in IDF particularly on road assets, while the company expects the IDF asset base to touch Rs 2500 crore by the end March 2017.

* As regard to draft guidelines for on-tap licenses of banks allowing doing away with the NOFHC structure, the company may consider merging its NOHFC with IDFC which would remove one layer.