WEBVTT

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Okay, well uh with that, let's uh pivot

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back to corporate conversations then.

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And the company that we're looking at

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next is Hoodco reported a pretty steady

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set of numbers for the second quarter.

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Net interest income is up a little over

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17%.

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Uh and the company continues to show,

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you know, a solid margin trajectory for

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the first half as well. Their cost of

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funds has been coming down. We have with

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us Mr. Sanjay Kolster, chairman and

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managing director at Hoodco. Uh Mr.

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Kraster, thank you very much for

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joining. Looks like another um you know

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pretty steady quarter for you. Uh and

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you've already given us that guidance.

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You've said that uh as your book keeps

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shifting more and more to urban infra

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margins will improve. I think for the

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first half you're just under 3% net

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interest margin and what you told us

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earlier was that by the end of the year

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you'll get to about 3.3%.

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So is that trajectory on track?

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>> Yeah very well. uh I think we are on the

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track and uh it's a half yearly result

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and uh you also understand there are so

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many so many businesses that we are

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doing and uh a lot of business potential

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is there in the urban investment and I'm

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pretty sure that uh we will be

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maintaining the figure of 3.3 in the

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names net interest margins and at the

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same time we will keep the business

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ongoing the same rate

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>> okay all right hi Mr. Kusheshtra and

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>> good morning

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>> good to have you on the show. So we got

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the point out on NIMS. What about

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growth? You'll have to revise the

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estimates right because going by the

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halfyear number it's looking

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spectacular. So give us the fresh

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guidance both on dispersements as well

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as on the AUM target because as of now

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those numbers I mean uh they will need

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to get revised. So for the year what are

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you looking at?

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>> Yeah, you are right. we need to revise

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our number and we had started revisiting

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uh the projects and the potential on

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since we had signed lot of MUS you may

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have seen that around 8 to 9 lakh crores

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of the MUS are signed and uh uh there is

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a there is a tailwind and we have now

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launched this urban invest window also

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which will be which will become a

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platform for all urban investments so we

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need to uh revise our uh targets that is

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the guidance that we had given of 1.5

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lakh crores by F 26. So we had revisited

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and the initial figures we are targeting

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is 1.6

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uh lakh crores by FY 206 but we had not

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worked out uh for FY 2030. Uh we are

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maintaining it as three lakh crores as

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well.

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>> Okay. Got it. So that's the numbers out

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of the way both on the growth of the

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loan book and the margin. Uh it's

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looking really really solid this year.

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Now give us some little bit of

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qualitative color on this. uh for the

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rest of the year and going into next

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year which are the urban infra projects

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that are going to drive this growth and

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I just want to understand which of the

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projects are most profitable for you

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from a margin perspective as well. So

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which ones will you bid for more

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aggressively?

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>> I think uh if we see the green field

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projects they are more profitable if if

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I compare with the refinancing kind of

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projects. The road sector is giving uh

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quite a fairly right fairly good kind of

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spreads and the names for the books. uh

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we are only compromising on the social

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sector that is the housing that two for

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the affordable housing and this is

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coming out as a counter uh requirement

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of the state governments uh presently

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they are not coming up uh to take these

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kind of loans and they are managing

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themselves so I didn't look that we will

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be compromising on our names but uh all

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green field sectors and uh I think they

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are very promising and we will be

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maintaining our spreads on these kind of

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sectors

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>> so yields are highest you're saying on

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the on the the road infra side.

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>> Yeah, on the surface infra side if you

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see uh there are good projects which are

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lined up and these are huge capital

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which is uh which has to be infused and

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there is a proper planning also and now

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we had also started this private sector

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uh lending uh in five sectors uh

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including road, port, airport which is

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all mobility related others are the uh

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energy or power and last one is the real

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estate which is our niche sector. So uh

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I'm very hopeful that with all these

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kind of initiatives like private sector

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or urban invest window our growth will

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be growth momentum will keep on growing

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>> you know sir one more question because

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speaking to you we also get a pulse of

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the overall capex movement in the

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economy right and clearly there's a lot

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of infrastructure spending happening and

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your book is telling us that so uh can

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you give us some split between private

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and public uh you know what is how is

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your book looking now and are you

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getting a lot of fresh inquiries from

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the private sector as well and if yes

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and for what kind of projects?

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>> We are getting lot of fresh inquiries

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and entire spectrum of the project but

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we will be remain selective towards the

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private sector projects and uh we will

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not compromise either on the entity side

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or on the project side. project should

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be well placed with all the approvals in

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line including land availability and at

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the same time they will be backed by the

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good concessional agreements uh maybe

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Ham kind of projects and uh uh the

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entity should be really strong to take

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our funds and

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287
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>> what's the contribution sir what is the

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289
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contribution of the private sector to

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the book now

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293
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>> presently there is no performing asset

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295
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from the private side maybe it will

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start growing maybe 3 4% but there we

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have not start any target for the

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private sector.

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>> All right, I just want to push you a

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305
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little bit. The AUM target of three lakh

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307
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you know by 2030 that means you'll have

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309
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to grow in high teens but you're talking

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311
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about growing in mid20s. So actually

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313
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that three lakh cr could actually come

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315
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in closer than you know that 2030 if I

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317
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could just quiz you on that and also I

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missed the number for this year

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321
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dispersement sanctions what is the

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number likely to look like for FI26. So

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325
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I will start from the dispersement. Last

326
00:05:51.110 --> 00:05:51.120



327
00:05:51.120 --> 00:05:53.029
year we had dispersed around 40,000.

328
00:05:53.029 --> 00:05:53.039



329
00:05:53.039 --> 00:05:55.029
This year targeting uh we are targeting

330
00:05:55.029 --> 00:05:55.039



331
00:05:55.039 --> 00:05:57.350
around 50,000 crores. Similarly on the

332
00:05:57.350 --> 00:05:57.360



333
00:05:57.360 --> 00:05:59.430
sanction side last year we had achieved

334
00:05:59.430 --> 00:05:59.440



335
00:05:59.440 --> 00:06:01.830
slightly more than one lakh around 1.2 1

336
00:06:01.830 --> 00:06:01.840



337
00:06:01.840 --> 00:06:04.390
1.23. This year we are targeting 1.5

338
00:06:04.390 --> 00:06:04.400



339
00:06:04.400 --> 00:06:06.469
lakh crores. We had already achieved

340
00:06:06.469 --> 00:06:06.479



341
00:06:06.479 --> 00:06:08.469
around 93,000

342
00:06:08.469 --> 00:06:08.479



343
00:06:08.479 --> 00:06:11.110
KES in the sanction pipelines and we are

344
00:06:11.110 --> 00:06:11.120



345
00:06:11.120 --> 00:06:13.590
hopeful to achieve around 1.5 and you

346
00:06:13.590 --> 00:06:13.600



347
00:06:13.600 --> 00:06:15.909
are right that we need to revise and

348
00:06:15.909 --> 00:06:15.919



349
00:06:15.919 --> 00:06:18.230
revisit our targets for 2030 but it is

350
00:06:18.230 --> 00:06:18.240



351
00:06:18.240 --> 00:06:19.749
too early to comment on that because

352
00:06:19.749 --> 00:06:19.759



353
00:06:19.759 --> 00:06:22.070
there are lot of potential uh which we

354
00:06:22.070 --> 00:06:22.080



355
00:06:22.080 --> 00:06:24.950
see and including the urban challenge

356
00:06:24.950 --> 00:06:24.960



357
00:06:24.960 --> 00:06:28.390
fund and just on the weekend there was a

358
00:06:28.390 --> 00:06:28.400



359
00:06:28.400 --> 00:06:30.469
urban conclave also al also and we were

360
00:06:30.469 --> 00:06:30.479



361
00:06:30.479 --> 00:06:32.790
discussing that how to lift our face of

362
00:06:32.790 --> 00:06:32.800



363
00:06:32.800 --> 00:06:34.790
the cities and we have to create around

364
00:06:34.790 --> 00:06:34.800



365
00:06:34.800 --> 00:06:36.950
50 global cities. So lot of investment

366
00:06:36.950 --> 00:06:36.960



367
00:06:36.960 --> 00:06:39.110
is required in the city side and they

368
00:06:39.110 --> 00:06:39.120



369
00:06:39.120 --> 00:06:41.350
will become the growth of and as we all

370
00:06:41.350 --> 00:06:41.360



371
00:06:41.360 --> 00:06:43.430
know that they contribute about 60 more

372
00:06:43.430 --> 00:06:43.440



373
00:06:43.440 --> 00:06:46.070
than 60% of our GDP. So we are working

374
00:06:46.070 --> 00:06:46.080



375
00:06:46.080 --> 00:06:47.670
on the cities we are working on the

376
00:06:47.670 --> 00:06:47.680



377
00:06:47.680 --> 00:06:49.909
infrastructure we because cities are the

378
00:06:49.909 --> 00:06:49.919



379
00:06:49.919 --> 00:06:51.990
face of our country and to become the

380
00:06:51.990 --> 00:06:52.000



381
00:06:52.000 --> 00:06:54.710
bixidhar around 80 lakh crores of the

382
00:06:54.710 --> 00:06:54.720



383
00:06:54.720 --> 00:06:56.790
city investment is required it means

384
00:06:56.790 --> 00:06:56.800



385
00:06:56.800 --> 00:06:59.510
around 5 to 8 lakh crores of investment

386
00:06:59.510 --> 00:06:59.520



387
00:06:59.520 --> 00:07:03.110
per year. So it's a huge huge investment

388
00:07:03.110 --> 00:07:03.120



389
00:07:03.120 --> 00:07:05.990
in the cities and we are planning our

390
00:07:05.990 --> 00:07:06.000



391
00:07:06.000 --> 00:07:07.990
our planning our financials and the

392
00:07:07.990 --> 00:07:08.000



393
00:07:08.000 --> 00:07:10.309
ratios so that we will be positioning in

394
00:07:10.309 --> 00:07:10.319



395
00:07:10.319 --> 00:07:11.350
the best way.

396
00:07:11.350 --> 00:07:11.360



397
00:07:11.360 --> 00:07:13.510
>> Yeah. Final question sir going back to

398
00:07:13.510 --> 00:07:13.520



399
00:07:13.520 --> 00:07:14.870
the margin where you're saying that

400
00:07:14.870 --> 00:07:14.880



401
00:07:14.880 --> 00:07:18.070
you'll definitely be above 3% uh 3.3

402
00:07:18.070 --> 00:07:18.080



403
00:07:18.080 --> 00:07:20.150
right by the time the year ends. What is

404
00:07:20.150 --> 00:07:20.160



405
00:07:20.160 --> 00:07:21.430
the borrowing mix looking like because

406
00:07:21.430 --> 00:07:21.440



407
00:07:21.440 --> 00:07:23.110
your cost of funds has been uh coming

408
00:07:23.110 --> 00:07:23.120



409
00:07:23.120 --> 00:07:25.270
down obviously interest rate cuts here

410
00:07:25.270 --> 00:07:25.280



411
00:07:25.280 --> 00:07:26.550
locally would have helped. What's the

412
00:07:26.550 --> 00:07:26.560



413
00:07:26.560 --> 00:07:28.390
current mix like and uh what are you

414
00:07:28.390 --> 00:07:28.400



415
00:07:28.400 --> 00:07:30.150
thinking for the second half?

416
00:07:30.150 --> 00:07:30.160



417
00:07:30.160 --> 00:07:32.950
I think regarding income definitely 3.3

418
00:07:32.950 --> 00:07:32.960



419
00:07:32.960 --> 00:07:35.110
is achievable level and couple of

420
00:07:35.110 --> 00:07:35.120



421
00:07:35.120 --> 00:07:37.110
projects we are on the on the advanced

422
00:07:37.110 --> 00:07:37.120



423
00:07:37.120 --> 00:07:39.110
stage of resolutions. So we were

424
00:07:39.110 --> 00:07:39.120



425
00:07:39.120 --> 00:07:41.350
expecting the quarter two only but uh

426
00:07:41.350 --> 00:07:41.360



427
00:07:41.360 --> 00:07:43.110
nevertheless uh we are on the right

428
00:07:43.110 --> 00:07:43.120



429
00:07:43.120 --> 00:07:45.029
track and the income will come from the

430
00:07:45.029 --> 00:07:45.039



431
00:07:45.039 --> 00:07:47.749
resolutions as well. At the same time uh

432
00:07:47.749 --> 00:07:47.759



433
00:07:47.759 --> 00:07:50.309
we are expecting that uh market is

434
00:07:50.309 --> 00:07:50.319



435
00:07:50.319 --> 00:07:51.749
projecting that there will be another

436
00:07:51.749 --> 00:07:51.759



437
00:07:51.759 --> 00:07:53.749
rate cut from the RBI and we are very

438
00:07:53.749 --> 00:07:53.759



439
00:07:53.759 --> 00:07:56.710
hopeful. So we had managing our treasury

440
00:07:56.710 --> 00:07:56.720



441
00:07:56.720 --> 00:07:59.110
in such a way that uh the benefit of the

442
00:07:59.110 --> 00:07:59.120



443
00:07:59.120 --> 00:08:01.350
rate cut will will come as soon as

444
00:08:01.350 --> 00:08:01.360



445
00:08:01.360 --> 00:08:04.469
possible the it is decided by the RBI.

446
00:08:04.469 --> 00:08:04.479



447
00:08:04.479 --> 00:08:07.510
We are also planning uh ECBS uh in y

448
00:08:07.510 --> 00:08:07.520



449
00:08:07.520 --> 00:08:09.110
denominated and we are also planning the

450
00:08:09.110 --> 00:08:09.120



451
00:08:09.120 --> 00:08:11.990
GMTN. So since fed has already started

452
00:08:11.990 --> 00:08:12.000



453
00:08:12.000 --> 00:08:14.550
some melting down but we are uh it's a

454
00:08:14.550 --> 00:08:14.560



455
00:08:14.560 --> 00:08:16.550
kind of wait and watch that we are doing

456
00:08:16.550 --> 00:08:16.560



457
00:08:16.560 --> 00:08:19.990
because USD we are planning to to take

458
00:08:19.990 --> 00:08:20.000



459
00:08:20.000 --> 00:08:23.029
some USD loans also. uh but uh we have

460
00:08:23.029 --> 00:08:23.039



461
00:08:23.039 --> 00:08:25.189
to see what kind of interest rate uh uh

462
00:08:25.189 --> 00:08:25.199



463
00:08:25.199 --> 00:08:27.670
the they will come but at the same time

464
00:08:27.670 --> 00:08:27.680



465
00:08:27.680 --> 00:08:29.510
domestic funding is uh coming very

466
00:08:29.510 --> 00:08:29.520



467
00:08:29.520 --> 00:08:31.990
aggressively and very good options are

468
00:08:31.990 --> 00:08:32.000



469
00:08:32.000 --> 00:08:33.670
there and with the expectation of the

470
00:08:33.670 --> 00:08:33.680



471
00:08:33.680 --> 00:08:35.829
rate cut I'm very hopeful that most of

472
00:08:35.829 --> 00:08:35.839



473
00:08:35.839 --> 00:08:37.430
our funds will come from the loans and

474
00:08:37.430 --> 00:08:37.440



475
00:08:37.440 --> 00:08:39.670
the bonds and around you are planning

476
00:08:39.670 --> 00:08:39.680



477
00:08:39.680 --> 00:08:41.029
around 500 millions from the

478
00:08:41.029 --> 00:08:41.039



479
00:08:41.039 --> 00:08:44.919
international commercial borrowings

480
00:08:45.030 --> NaN:NaN:NaN.NaN



481
00:08:45.040 --> 00:08:46.230
sir we'll leave it there good

482
00:08:46.230 --> 00:08:46.240



483
00:08:46.240 --> 00:08:47.670
conversation thank you very much for

484
00:08:47.670 --> 00:08:47.680



485
00:08:47.680 --> 00:08:49.829
joining us and really appreciate you

486
00:08:49.829 --> 00:08:49.839



487
00:08:49.839 --> 00:08:51.430
being with us yeah appreciate

488
00:08:51.430 --> 00:08:51.440



489
00:08:51.440 --> 00:08:53.600
Well,