Highlights:

. The consolidated balance sheet of IDFC stood at Rs 1,21,000 crore at end December 2016 with the consolidated PAT at Rs 564 crore in 9MFY2017. The consolidated net worth stood at Rs 10700 crore at end December 2016.

. The balance sheet of Bank grew by 33% to Rs 1,16,000 crore at end December 2016 from Rs 86600 crore at end December 2015. Non-funded business as a percentage of funded business grew from 19% end September 2016 to 26% end December 2016.

. Contribution of Retail and SME including buyouts and on-lending was 13% of gross funded credit end December 2016. Net profits stood at Rs 844 crore in 9MFY2017. The bank network comprises of 4,700 points of presence. The Bank has 1.24 million customers end December 2016 including 1 million customers of ‘Grama Vidiyal'. Its organic customer base was Rs 2.5 lakh end December 2016, with the acquisition of over 53,000 customers in Q3FY2017.

. Mutual Fund business has been growing very profitably. Sequentially, average AUM and revenues have grown by 2%. Margins in Q3 have shown an improvement over Q2, pipeline from new fund launches is strong and efforts to further strengthen brand will be visible. PAT stood at Rs 71 crore in 9MFY2017.

. IDF has been re-christened as IDFC Infrastructure Finance and loan book was Rs 2260 crore comprising 36 assets at end December 2016. It is a well-diversified portfolio across renewable, roads, healthcare, IT, SEZ, Power transmission and others. The pipeline for disbursement continues to be healthy. The PAT was Rs 53 crore in 9MFY2017.

. In Alternatives, AUM was over Rs 17700 crore across three asset classes in Infrastructure, Private Equity and Real Estate. PAT was Rs 15 crore in 9MFY2017.

. In Securities business, the company has strengthened institutional sales and research to service domestic institutional investors and FIIs across the globe translating to a well-diversified broking revenue mix. Securities business delivered a PAT of Rs 10 crore for 9MFY2017.

Demonetization impact

. The securities business did not witnessed any impact from demonetization with steady trading volumes.

. In the Asset management business, there have been inflows because of the decline in banking deposit rates. So, the effect was slight positive for the AMC business on account of demonetization.

. There has really been no impact for alternatives business from demonetization.

. In case of banking business, the bank does not have too many branches and therefore cash deposits were lower. The collection efficiency of a microfinance subsidiary 'Grama Vidiyal' was not impacted at all, but credit growth from disbursements was almost negligible due to shortage of new currency notes. The reduction in MCLR will play out in the next few quarters as it impacts interest earning, but cost of funds did not change significantly and may cause a margin compression going forward.