Highlights:

Loan disbursement in Mar 18 quarter was up by 15% to Rs 17402 crore YoY. Individual loan book disbursement was up by 17% YoY. However, net of exits, the core individual loan book would have grown by around 11% for entire FY 18.

Demand continued to remain strong across India. Central, Western and Eastern geography did well. Within Metros, Mumbai, Pune, Hyderabad did well and there was a pick up seen in NCR region.

Strong pick up was seen in affordable housing segment which grew by around 12% in Mar 18 quarter. Expects the segment to do well in entire FY 19.

Project finance demand is seen rising. For FY 18, disbursement stood at Rs 4266 crore, up by 33% YoY. Currently project finance loans account for around 5% of loan book and LAP and LRD account for around 14% and retail book accounts for rest 81% of the book.

On QoQ basis, GNPA has improved and there is no further increase in NPA seen. Asset quality improved on QoQ basis

96% of gross NPA provisions as on date

Expected a recovery of one NPA in FY 18, which did not took place. The funds are lying in the court and expects around Rs 45 crore of entire recovery in Sep 18.

The steep hike in Gsec yield has resulted in some increase in borrowing costs in Mar 18 quarter. The company has increased its PLR by 20 bps from April 18 onwards. Further around Rs 21000 crore of its liability is going to be reprised in FY 19, which is currently at cost of around 8.5%. Expects the cost to be lower than 8.5% which should help in better yield.

Yield stands at 8.7% on core book of the company, yield on builder loan is around 13%, LAP is around 10.7%

As on Mar 18, around 78% of its loan book is floating which was earlier less than 65%. The benefits of increase in PLR together with lower cost of borrowing should help in higher yields and better NIM going forward.

NIM has bottomed out and expects to see it rising in coming quarters. 2.49% current NIM

The company has also increased the fees and other charges which should help in improve other income going forward.

23 new marketing offices will be added in FY 19, highest addition in single year in last 10 years. This will be mainly in Tier 3 and 4 locations.