Performance: Record quarterly PAT ₹1,779 cr; 9M PAT ₹5,005 cr. Results ahead of guidance.
• Capital return: 10% interim dividend approved.
• Scale: Total business ₹5.95 lakh cr, +17.2% YoY.
Growth & Mix
• Advances: ~19–20% YoY (vs 17% guidance).
• Deposits: +15.3% YoY (guided 14%).
• Mix: RAM : Corporate 63 : 37 (target ~60 : 40).
• Retail growth: +36% YoY
• Home loans +28%, Vehicle loans +54%, Gold loans +56%.
• Corporate book: ~19% YoY, focused on green energy, renewables, data centres, EVs.
Funding, Margins & Profitability
• Strategy: Deliberate exit from high-cost bulk deposits (bulk deposits –7% YoY).
• CASA: ~50%; CASA growth +16% YoY, faster than deposits.
• Alternative funding: ₹14–15k cr refinanced at 6–6.5%, no CRR/SLR drag.
• NIM: 3.87% (guidance 3.75%).
• ROA / ROE: 1.86% / 23.8%.
• Cost-to-income: 37.2% (within <40% guidance).
Asset Quality & Risk
• GNPA / NNPA: 1.60% / 0.15% (QoQ improvement).
• Slippages: ~₹700–750 cr; stable, not alarming.
• Underwriting tightened:
• Retail cutoff CIBIL <681 – no lending.
• Home loans best rates only for CIBIL ≥800.
• MSME lending restricted to CIBIL MSME Rank 1–5.
Gold Loans & Expansion
• Gold loan book: ~₹22,000 cr (incl. ~₹5,500 cr co-lending).
• Co-lending: High ROA, low opex, strong risk controls.
• Branches: ~165 branches opened; Project 321 underway (321 branches in 18 months).
Liquidity & One-offs
• LCR: ~116%, comfortable.
• Treasury: One-off ₹290 cr hit (non-recurring); underlying treasury profitable.
👉 Overall: Strong growth, disciplined funding, best-in-class profitability, improving asset quality, and controlled expansion.
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