WEBVTT

1
00:00:00.240 --> 00:00:02.869
ation we have Mr. Sanjay Kulshta the CMD

2
00:00:02.869 --> 00:00:02.879



3
00:00:02.879 --> 00:00:05.269
at Hoodco joining us on the show Mr.

4
00:00:05.269 --> 00:00:05.279



5
00:00:05.279 --> 00:00:07.349
Kula, hi good morning and thank you so

6
00:00:07.349 --> 00:00:07.359



7
00:00:07.359 --> 00:00:10.070
much for your time. Uh talk to us about

8
00:00:10.070 --> 00:00:10.080



9
00:00:10.080 --> 00:00:11.669
the recent developments that we've seen

10
00:00:11.669 --> 00:00:11.679



11
00:00:11.679 --> 00:00:13.350
in the company. First up, let's talk

12
00:00:13.350 --> 00:00:13.360



13
00:00:13.360 --> 00:00:14.950
about the fundraising that you've

14
00:00:14.950 --> 00:00:14.960



15
00:00:14.960 --> 00:00:17.349
recently announced. Uh talk to us about

16
00:00:17.349 --> 00:00:17.359



17
00:00:17.359 --> 00:00:18.870
the final quantum because there's been

18
00:00:18.870 --> 00:00:18.880



19
00:00:18.880 --> 00:00:21.429
multiple announcements and also how this

20
00:00:21.429 --> 00:00:21.439



21
00:00:21.439 --> 00:00:23.590
uh fund is going to be used, what is

22
00:00:23.590 --> 00:00:23.600



23
00:00:23.600 --> 00:00:25.670
going to be the allocation.

24
00:00:25.670 --> 00:00:25.680



25
00:00:25.680 --> 00:00:27.509
>> Yeah, thank you so much and good

26
00:00:27.509 --> 00:00:27.519



27
00:00:27.519 --> 00:00:30.790
morning. I think uh you are talking

28
00:00:30.790 --> 00:00:30.800



29
00:00:30.800 --> 00:00:32.709
about the borrowing plan of the company.

30
00:00:32.709 --> 00:00:32.719



31
00:00:32.719 --> 00:00:34.790
We have a borrowing plan of 65,000

32
00:00:34.790 --> 00:00:34.800



33
00:00:34.800 --> 00:00:38.950
crores for the financial year FI2526

34
00:00:38.950 --> 00:00:38.960



35
00:00:38.960 --> 00:00:41.030
and

36
00:00:41.030 --> 00:00:41.040



37
00:00:41.040 --> 00:00:43.110
we are coming going on the track and uh

38
00:00:43.110 --> 00:00:43.120



39
00:00:43.120 --> 00:00:45.910
we had tapped the market from multiple

40
00:00:45.910 --> 00:00:45.920



41
00:00:45.920 --> 00:00:48.470
resources and the way repo is being

42
00:00:48.470 --> 00:00:48.480



43
00:00:48.480 --> 00:00:50.389
reduced so we are taking advantage of

44
00:00:50.389 --> 00:00:50.399



45
00:00:50.399 --> 00:00:52.150
the bank loans also to get them

46
00:00:52.150 --> 00:00:52.160



47
00:00:52.160 --> 00:00:54.869
resetted. Of course the bond market uh

48
00:00:54.869 --> 00:00:54.879



49
00:00:54.879 --> 00:00:56.950
will take some time to transmit these

50
00:00:56.950 --> 00:00:56.960



51
00:00:56.960 --> 00:01:00.229
kind of uh uh uh reduced rates. So we

52
00:01:00.229 --> 00:01:00.239



53
00:01:00.239 --> 00:01:02.549
are waiting for that and uh uh we are

54
00:01:02.549 --> 00:01:02.559



55
00:01:02.559 --> 00:01:05.590
not so uh we are not pushing our bonds

56
00:01:05.590 --> 00:01:05.600



57
00:01:05.600 --> 00:01:07.750
to come but at the same time we have

58
00:01:07.750 --> 00:01:07.760



59
00:01:07.760 --> 00:01:12.310
keep uh very fine uh balance between the

60
00:01:12.310 --> 00:01:12.320



61
00:01:12.320 --> 00:01:14.390
domestic as well as the foreign currency

62
00:01:14.390 --> 00:01:14.400



63
00:01:14.400 --> 00:01:16.550
loans. Uh generally these funds will be

64
00:01:16.550 --> 00:01:16.560



65
00:01:16.560 --> 00:01:18.630
used uh for the infrastructure funding

66
00:01:18.630 --> 00:01:18.640



67
00:01:18.640 --> 00:01:21.749
of the company across the country and uh

68
00:01:21.749 --> 00:01:21.759



69
00:01:21.759 --> 00:01:23.670
starting from the housing to waters

70
00:01:23.670 --> 00:01:23.680



71
00:01:23.680 --> 00:01:26.550
sanitation transport logistics creation

72
00:01:26.550 --> 00:01:26.560



73
00:01:26.560 --> 00:01:29.429
of new cities and airports ports. So all

74
00:01:29.429 --> 00:01:29.439



75
00:01:29.439 --> 00:01:31.270
these sectors will be there. So it is

76
00:01:31.270 --> 00:01:31.280



77
00:01:31.280 --> 00:01:33.510
not like that that there is some

78
00:01:33.510 --> 00:01:33.520



79
00:01:33.520 --> 00:01:35.429
segmentation of the funds being

80
00:01:35.429 --> 00:01:35.439



81
00:01:35.439 --> 00:01:38.390
allocated to a particular sector but it

82
00:01:38.390 --> 00:01:38.400



83
00:01:38.400 --> 00:01:40.870
will be wide open only the issue only

84
00:01:40.870 --> 00:01:40.880



85
00:01:40.880 --> 00:01:43.510
the concern or all the only the decision

86
00:01:43.510 --> 00:01:43.520



87
00:01:43.520 --> 00:01:46.149
point will be the quality of the assets.

88
00:01:46.149 --> 00:01:46.159



89
00:01:46.159 --> 00:01:49.109
>> Mr. Kula. Hi, this is Hersa. Sir, give

90
00:01:49.109 --> 00:01:49.119



91
00:01:49.119 --> 00:01:51.910
us a sense this 25 bips rate cut. How

92
00:01:51.910 --> 00:01:51.920



93
00:01:51.920 --> 00:01:53.830
quickly does it transmit through your

94
00:01:53.830 --> 00:01:53.840



95
00:01:53.840 --> 00:01:56.389
system and do you pass on the benefits

96
00:01:56.389 --> 00:01:56.399



97
00:01:56.399 --> 00:01:58.789
of that to customers or are you able to

98
00:01:58.789 --> 00:01:58.799



99
00:01:58.799 --> 00:02:00.789
hold on to any of that in terms of

100
00:02:00.789 --> 00:02:00.799



101
00:02:00.799 --> 00:02:02.709
margins? Because your margin guidance

102
00:02:02.709 --> 00:02:02.719



103
00:02:02.719 --> 00:02:05.510
for Q3 was 3.1%. I know you can't talk

104
00:02:05.510 --> 00:02:05.520



105
00:02:05.520 --> 00:02:09.109
about Q3 anymore, but give us a sense on

106
00:02:09.109 --> 00:02:09.119



107
00:02:09.119 --> 00:02:10.949
the slightly medium-term picture, what

108
00:02:10.949 --> 00:02:10.959



109
00:02:10.959 --> 00:02:12.630
to expect.

110
00:02:12.630 --> 00:02:12.640



111
00:02:12.640 --> 00:02:15.110
Yeah, repo has been reduced and on the

112
00:02:15.110 --> 00:02:15.120



113
00:02:15.120 --> 00:02:17.830
same day the bank loans were reset and

114
00:02:17.830 --> 00:02:17.840



115
00:02:17.840 --> 00:02:21.190
we have put in internal strategy that to

116
00:02:21.190 --> 00:02:21.200



117
00:02:21.200 --> 00:02:23.430
go for [snorts] more loan bank loans. So

118
00:02:23.430 --> 00:02:23.440



119
00:02:23.440 --> 00:02:25.910
we had not uh taken the loans from the

120
00:02:25.910 --> 00:02:25.920



121
00:02:25.920 --> 00:02:28.309
bond. So the bond issuance was little

122
00:02:28.309 --> 00:02:28.319



123
00:02:28.319 --> 00:02:31.110
dump during 9 month of the financial

124
00:02:31.110 --> 00:02:31.120



125
00:02:31.120 --> 00:02:33.509
year and uh we had got the advantage of

126
00:02:33.509 --> 00:02:33.519



127
00:02:33.519 --> 00:02:36.550
25 basis point directly as and when the

128
00:02:36.550 --> 00:02:36.560



129
00:02:36.560 --> 00:02:39.030
repo was reduced by the RBI. At the same

130
00:02:39.030 --> 00:02:39.040



131
00:02:39.040 --> 00:02:41.830
time we keep on coming out with our

132
00:02:41.830 --> 00:02:41.840



133
00:02:41.840 --> 00:02:43.830
MCLR. It's a quarterly affair. We are

134
00:02:43.830 --> 00:02:43.840



135
00:02:43.840 --> 00:02:45.509
very fair and transparent with our

136
00:02:45.509 --> 00:02:45.519



137
00:02:45.519 --> 00:02:48.309
borrowers. At the same time we we make a

138
00:02:48.309 --> 00:02:48.319



139
00:02:48.319 --> 00:02:49.990
guidance that we will not compromise

140
00:02:49.990 --> 00:02:50.000



141
00:02:50.000 --> 00:02:52.470
with the spread of 2% and the names of

142
00:02:52.470 --> 00:02:52.480



143
00:02:52.480 --> 00:02:54.710
less than 3% and we are maintaining that

144
00:02:54.710 --> 00:02:54.720



145
00:02:54.720 --> 00:02:56.470
part part also.

146
00:02:56.470 --> 00:02:56.480



147
00:02:56.480 --> 00:02:58.630
>> And uh even in the new segments that you

148
00:02:58.630 --> 00:02:58.640



149
00:02:58.640 --> 00:03:01.589
are lending to, are you able to lend

150
00:03:01.589 --> 00:03:01.599



151
00:03:01.599 --> 00:03:03.910
competitively and maintain that kind of

152
00:03:03.910 --> 00:03:03.920



153
00:03:03.920 --> 00:03:06.390
margin or is there a risk there?

154
00:03:06.390 --> 00:03:06.400



155
00:03:06.400 --> 00:03:08.149
No no no no we will not be taking any

156
00:03:08.149 --> 00:03:08.159



157
00:03:08.159 --> 00:03:10.869
risk regarding three things. One is the

158
00:03:10.869 --> 00:03:10.879



159
00:03:10.879 --> 00:03:12.949
asset quality, second is the spread and

160
00:03:12.949 --> 00:03:12.959



161
00:03:12.959 --> 00:03:15.509
third is the name. So we had identified

162
00:03:15.509 --> 00:03:15.519



163
00:03:15.519 --> 00:03:18.070
our business and our partners and we we

164
00:03:18.070 --> 00:03:18.080



165
00:03:18.080 --> 00:03:19.990
will be doing the business with them who

166
00:03:19.990 --> 00:03:20.000



167
00:03:20.000 --> 00:03:21.750
have these kind of three things uh to

168
00:03:21.750 --> 00:03:21.760



169
00:03:21.760 --> 00:03:24.949
maintain our uh names more than 3%. At

170
00:03:24.949 --> 00:03:24.959



171
00:03:24.959 --> 00:03:26.630
the same time we had taken lot of

172
00:03:26.630 --> 00:03:26.640



173
00:03:26.640 --> 00:03:28.710
internal calls that how to reduce cost

174
00:03:28.710 --> 00:03:28.720



175
00:03:28.720 --> 00:03:30.949
of fund maybe through tapping different

176
00:03:30.949 --> 00:03:30.959



177
00:03:30.959 --> 00:03:32.550
markets through through different

178
00:03:32.550 --> 00:03:32.560



179
00:03:32.560 --> 00:03:35.110
strategies of loans or bonds or domestic

180
00:03:35.110 --> 00:03:35.120



181
00:03:35.120 --> 00:03:37.110
or international tapping the Japan

182
00:03:37.110 --> 00:03:37.120



183
00:03:37.120 --> 00:03:39.830
market and reducing our compliance cost.

184
00:03:39.830 --> 00:03:39.840



185
00:03:39.840 --> 00:03:42.390
So all these measures establishment cost

186
00:03:42.390 --> 00:03:42.400



187
00:03:42.400 --> 00:03:44.390
enhancing our interest uh interest

188
00:03:44.390 --> 00:03:44.400



189
00:03:44.400 --> 00:03:47.430
income enhancing uh the in income

190
00:03:47.430 --> 00:03:47.440



191
00:03:47.440 --> 00:03:50.229
through asset monetization. So lot of

192
00:03:50.229 --> 00:03:50.239



193
00:03:50.239 --> 00:03:51.750
internal

194
00:03:51.750 --> 00:03:51.760



195
00:03:51.760 --> 00:03:54.309
measures that we had taken and uh that's

196
00:03:54.309 --> 00:03:54.319



197
00:03:54.319 --> 00:03:56.710
why we are we have been able to keep our

198
00:03:56.710 --> 00:03:56.720



199
00:03:56.720 --> 00:03:58.550
interest rate low.

200
00:03:58.550 --> 00:03:58.560



201
00:03:58.560 --> 00:04:01.750
>> And Mr. Kulesha if I can ask you uh with

202
00:04:01.750 --> 00:04:01.760



203
00:04:01.760 --> 00:04:04.070
regard to your foreign currency

204
00:04:04.070 --> 00:04:04.080



205
00:04:04.080 --> 00:04:06.470
borrowings now that the rupee has

206
00:04:06.470 --> 00:04:06.480



207
00:04:06.480 --> 00:04:09.429
weakened how does that play out in terms

208
00:04:09.429 --> 00:04:09.439



209
00:04:09.439 --> 00:04:11.910
of uh the impact of that on your

210
00:04:11.910 --> 00:04:11.920



211
00:04:11.920 --> 00:04:15.270
earnings? Give us a sense of that.

212
00:04:15.270 --> 00:04:15.280



213
00:04:15.280 --> 00:04:18.229
uh we had taken uh uh funds from the

214
00:04:18.229 --> 00:04:18.239



215
00:04:18.239 --> 00:04:21.270
Japan and they are quite hedged uh

216
00:04:21.270 --> 00:04:21.280



217
00:04:21.280 --> 00:04:23.830
through various models and uh we we had

218
00:04:23.830 --> 00:04:23.840



219
00:04:23.840 --> 00:04:26.950
kept enough margins uh for five years

220
00:04:26.950 --> 00:04:26.960



221
00:04:26.960 --> 00:04:29.590
loans. uh we are safeguarded out of this

222
00:04:29.590 --> 00:04:29.600



223
00:04:29.600 --> 00:04:31.830
thing. But yes, we are little vigilant

224
00:04:31.830 --> 00:04:31.840



225
00:04:31.840 --> 00:04:35.350
little more sensitive towards the global

226
00:04:35.350 --> 00:04:35.360



227
00:04:35.360 --> 00:04:38.150
inflation of the currencies and for all

228
00:04:38.150 --> 00:04:38.160



229
00:04:38.160 --> 00:04:40.710
future borrowings we will be more

230
00:04:40.710 --> 00:04:40.720



231
00:04:40.720 --> 00:04:44.790
careful uh because regard to take the

232
00:04:44.790 --> 00:04:44.800



233
00:04:44.800 --> 00:04:47.590
limits of the hedging and we had taken

234
00:04:47.590 --> 00:04:47.600



235
00:04:47.600 --> 00:04:49.590
the extended limits also to take care

236
00:04:49.590 --> 00:04:49.600



237
00:04:49.600 --> 00:04:51.830
that if anything goes wrong during the

238
00:04:51.830 --> 00:04:51.840



239
00:04:51.840 --> 00:04:53.830
five years but as of now things are in

240
00:04:53.830 --> 00:04:53.840



241
00:04:53.840 --> 00:04:56.070
control and we are continuously

242
00:04:56.070 --> 00:04:56.080



243
00:04:56.080 --> 00:04:58.230
revisiting our edging policies the

244
00:04:58.230 --> 00:04:58.240



245
00:04:58.240 --> 00:05:00.550
future borrowings from international

246
00:05:00.550 --> 00:05:00.560



247
00:05:00.560 --> 00:05:02.710
markets. So, so we will be very very

248
00:05:02.710 --> 00:05:02.720



249
00:05:02.720 --> 00:05:04.790
careful and sensitive about that and at

250
00:05:04.790 --> 00:05:04.800



251
00:05:04.800 --> 00:05:07.670
the same time I can tell you uh domestic

252
00:05:07.670 --> 00:05:07.680



253
00:05:07.680 --> 00:05:09.830
market is giving a very competitive kind

254
00:05:09.830 --> 00:05:09.840



255
00:05:09.840 --> 00:05:13.029
of fine uh priced kind of loans to

256
00:05:13.029 --> 00:05:13.039



257
00:05:13.039 --> 00:05:15.670
HUTPO. So we are not pushing our

258
00:05:15.670 --> 00:05:15.680



259
00:05:15.680 --> 00:05:17.189
international borrowing calendar. You

260
00:05:17.189 --> 00:05:17.199



261
00:05:17.199 --> 00:05:18.870
may have seen during this financial year

262
00:05:18.870 --> 00:05:18.880



263
00:05:18.880 --> 00:05:21.590
also it is only uh two borrowings that

264
00:05:21.590 --> 00:05:21.600



265
00:05:21.600 --> 00:05:24.070
we had done from the Japanese market and

266
00:05:24.070 --> 00:05:24.080



267
00:05:24.080 --> 00:05:26.790
uh we are we are more relying on the

268
00:05:26.790 --> 00:05:26.800



269
00:05:26.800 --> 00:05:29.749
domestic market to borrow.

270
00:05:29.749 --> 00:05:29.759



271
00:05:29.759 --> 00:05:32.310
So sorry if I'm I'm being pushy here but

272
00:05:32.310 --> 00:05:32.320



273
00:05:32.320 --> 00:05:35.909
uh around 1.25 lakh cr is your size in

274
00:05:35.909 --> 00:05:35.919



275
00:05:35.919 --> 00:05:37.670
terms of of your borrowing on your

276
00:05:37.670 --> 00:05:37.680



277
00:05:37.680 --> 00:05:39.670
balance sheet. How much of that would be

278
00:05:39.670 --> 00:05:39.680



279
00:05:39.680 --> 00:05:41.590
foreign currency? Give us a sense of

280
00:05:41.590 --> 00:05:41.600



281
00:05:41.600 --> 00:05:43.430
that.

282
00:05:43.430 --> 00:05:43.440



283
00:05:43.440 --> 00:05:46.390
uh long-term foreign currency is around

284
00:05:46.390 --> 00:05:46.400



285
00:05:46.400 --> 00:05:49.189
8%. Okay. Uh short-term foreign currency

286
00:05:49.189 --> 00:05:49.199



287
00:05:49.199 --> 00:05:52.310
FCNR is around another 8%. So we are

288
00:05:52.310 --> 00:05:52.320



289
00:05:52.320 --> 00:05:54.469
around 15% and we will be maintaining

290
00:05:54.469 --> 00:05:54.479



291
00:05:54.479 --> 00:05:55.510
that kind of

292
00:05:55.510 --> 00:05:55.520



293
00:05:55.520 --> 00:05:57.430
>> which is relatively small, right? Uh

294
00:05:57.430 --> 00:05:57.440



295
00:05:57.440 --> 00:05:58.390
which isn't too large.

296
00:05:58.390 --> 00:05:58.400



297
00:05:58.400 --> 00:05:58.950
>> Very small.

298
00:05:58.950 --> 00:05:58.960



299
00:05:58.960 --> 00:06:02.070
>> And and how much of this 16% is is fully

300
00:06:02.070 --> 00:06:02.080



301
00:06:02.080 --> 00:06:04.230
hedged?

302
00:06:04.230 --> 00:06:04.240



303
00:06:04.240 --> 00:06:05.909
>> Everything is hedged. So

304
00:06:05.909 --> 00:06:05.919



305
00:06:05.919 --> 00:06:07.430
>> pretty much everything is hedged.

306
00:06:07.430 --> 00:06:07.440



307
00:06:07.440 --> 00:06:09.909
>> Okay. So absolutely no concern.

308
00:06:09.909 --> 00:06:09.919



309
00:06:09.919 --> 00:06:10.550
Therefore

310
00:06:10.550 --> 00:06:10.560



311
00:06:10.560 --> 00:06:11.590
>> no concern. No concern.

312
00:06:11.590 --> 00:06:11.600



313
00:06:11.600 --> 00:06:13.430
>> Understood. Uh with regard to loan

314
00:06:13.430 --> 00:06:13.440



315
00:06:13.440 --> 00:06:16.629
growth uh talk to us about that uh

316
00:06:16.629 --> 00:06:16.639



317
00:06:16.639 --> 00:06:18.790
you're using newer levers of course to

318
00:06:18.790 --> 00:06:18.800



319
00:06:18.800 --> 00:06:20.870
grow at 2530%.

320
00:06:20.870 --> 00:06:20.880



321
00:06:20.880 --> 00:06:23.430
Uh this how confident are you firstly

322
00:06:23.430 --> 00:06:23.440



323
00:06:23.440 --> 00:06:26.309
with regard to growing at 25 30% for

324
00:06:26.309 --> 00:06:26.319



325
00:06:26.319 --> 00:06:29.830
FI26 which is your current guidance.

326
00:06:29.830 --> 00:06:29.840



327
00:06:29.840 --> 00:06:32.790
So if you see uh the scheme of things of

328
00:06:32.790 --> 00:06:32.800



329
00:06:32.800 --> 00:06:34.629
the government of India and we are all

330
00:06:34.629 --> 00:06:34.639



331
00:06:34.639 --> 00:06:36.309
pushing ourselves towards the vixid

332
00:06:36.309 --> 00:06:36.319



333
00:06:36.319 --> 00:06:38.070
bharat and the creation of the

334
00:06:38.070 --> 00:06:38.080



335
00:06:38.080 --> 00:06:40.070
infrastructure is the primarily the

336
00:06:40.070 --> 00:06:40.080



337
00:06:40.080 --> 00:06:42.230
driver to become the vixid bharata and

338
00:06:42.230 --> 00:06:42.240



339
00:06:42.240 --> 00:06:44.070
it will come with the monetization it

340
00:06:44.070 --> 00:06:44.080



341
00:06:44.080 --> 00:06:46.070
will come with the skill set economic

342
00:06:46.070 --> 00:06:46.080



343
00:06:46.080 --> 00:06:48.390
driver. So, so everything is uh

344
00:06:48.390 --> 00:06:48.400



345
00:06:48.400 --> 00:06:51.510
converting and echoing towards the uh

346
00:06:51.510 --> 00:06:51.520



347
00:06:51.520 --> 00:06:53.189
the infrastructure developmental growth

348
00:06:53.189 --> 00:06:53.199



349
00:06:53.199 --> 00:06:55.510
and the way government of India has came

350
00:06:55.510 --> 00:06:55.520



351
00:06:55.520 --> 00:06:57.430
out with either the policy framework or

352
00:06:57.430 --> 00:06:57.440



353
00:06:57.440 --> 00:06:59.749
the legislative framework or ease of

354
00:06:59.749 --> 00:06:59.759



355
00:06:59.759 --> 00:07:02.550
doing business or capital support. Uh I

356
00:07:02.550 --> 00:07:02.560



357
00:07:02.560 --> 00:07:04.790
think we are very well placed as a

358
00:07:04.790 --> 00:07:04.800



359
00:07:04.800 --> 00:07:08.230
sector agnostic company. If you see

360
00:07:08.230 --> 00:07:08.240



361
00:07:08.240 --> 00:07:11.029
water, sanitation, transport, logistic,

362
00:07:11.029 --> 00:07:11.039



363
00:07:11.039 --> 00:07:14.390
energy transition, uh housing, uh lot of

364
00:07:14.390 --> 00:07:14.400



365
00:07:14.400 --> 00:07:16.710
things are there. Yesterday only uh the

366
00:07:16.710 --> 00:07:16.720



367
00:07:16.720 --> 00:07:20.150
finance ministry has came out around 852

368
00:07:20.150 --> 00:07:20.160



369
00:07:20.160 --> 00:07:23.029
projects uh totaling costing to uh 17

370
00:07:23.029 --> 00:07:23.039



371
00:07:23.039 --> 00:07:25.589
lakh crores of PPP projects. So that

372
00:07:25.589 --> 00:07:25.599



373
00:07:25.599 --> 00:07:27.430
will become a big opportunity that has

374
00:07:27.430 --> 00:07:27.440



375
00:07:27.440 --> 00:07:30.550
to be done in next 3 years. So all these

376
00:07:30.550 --> 00:07:30.560



377
00:07:30.560 --> 00:07:32.390
three sectors like water sanitation,

378
00:07:32.390 --> 00:07:32.400



379
00:07:32.400 --> 00:07:34.950
transport, logistic, energy transition

380
00:07:34.950 --> 00:07:34.960



381
00:07:34.960 --> 00:07:36.469
projects will be covered under this and

382
00:07:36.469 --> 00:07:36.479



383
00:07:36.479 --> 00:07:38.710
we had also started funding to the PPP

384
00:07:38.710 --> 00:07:38.720



385
00:07:38.720 --> 00:07:40.469
project. So other than that government

386
00:07:40.469 --> 00:07:40.479



387
00:07:40.479 --> 00:07:42.150
has also announced the urban challenge

388
00:07:42.150 --> 00:07:42.160



389
00:07:42.160 --> 00:07:44.309
fund. So there are a lot of drivers lot

390
00:07:44.309 --> 00:07:44.319



391
00:07:44.319 --> 00:07:46.390
of tailwinds which are available for

392
00:07:46.390 --> 00:07:46.400



393
00:07:46.400 --> 00:07:49.990
kahado uh to to to make their business

394
00:07:49.990 --> 00:07:50.000



395
00:07:50.000 --> 00:07:51.990
plans and to adhere to the guidance of

396
00:07:51.990 --> 00:07:52.000



397
00:07:52.000 --> 00:07:54.869
more than 25% of the caggr.

398
00:07:54.869 --> 00:07:54.879



399
00:07:54.879 --> 00:07:57.270
>> Okay. And uh Mr. Kulesha talk to us

400
00:07:57.270 --> 00:07:57.280



401
00:07:57.280 --> 00:07:59.510
about uh the lending in the affordable

402
00:07:59.510 --> 00:07:59.520



403
00:07:59.520 --> 00:08:02.150
housing segment. We just uh seeing some

404
00:08:02.150 --> 00:08:02.160



405
00:08:02.160 --> 00:08:04.150
reports where niti has proposed that

406
00:08:04.150 --> 00:08:04.160



407
00:08:04.160 --> 00:08:06.309
hoodco and the national housing housing

408
00:08:06.309 --> 00:08:06.319



409
00:08:06.319 --> 00:08:08.309
board co-anchor fund for affordable

410
00:08:08.309 --> 00:08:08.319



411
00:08:08.319 --> 00:08:10.390
rental housing. um what is the outlook

412
00:08:10.390 --> 00:08:10.400



413
00:08:10.400 --> 00:08:12.950
in this segment and what uh uh is the

414
00:08:12.950 --> 00:08:12.960



415
00:08:12.960 --> 00:08:14.710
quantum of the dispersements that

416
00:08:14.710 --> 00:08:14.720



417
00:08:14.720 --> 00:08:16.309
currently happens under affordable

418
00:08:16.309 --> 00:08:16.319



419
00:08:16.319 --> 00:08:17.909
housing.

420
00:08:17.909 --> 00:08:17.919



421
00:08:17.919 --> 00:08:22.150
>> So you may have seen the 1.0 or 1 2.0

422
00:08:22.150 --> 00:08:22.160



423
00:08:22.160 --> 00:08:24.629
government of India has more focused uh

424
00:08:24.629 --> 00:08:24.639



425
00:08:24.639 --> 00:08:27.270
to ensure that within 5 years all hats

426
00:08:27.270 --> 00:08:27.280



427
00:08:27.280 --> 00:08:29.589
will one roof. Uh under that only around

428
00:08:29.589 --> 00:08:29.599



429
00:08:29.599 --> 00:08:32.310
12 lakh cray 2.0 was launched and

430
00:08:32.310 --> 00:08:32.320



431
00:08:32.320 --> 00:08:34.550
successfully being uh under

432
00:08:34.550 --> 00:08:34.560



433
00:08:34.560 --> 00:08:37.269
implementation by the various states. At

434
00:08:37.269 --> 00:08:37.279



435
00:08:37.279 --> 00:08:39.110
the same time we are we were all

436
00:08:39.110 --> 00:08:39.120



437
00:08:39.120 --> 00:08:41.029
discussing that the need of rental

438
00:08:41.029 --> 00:08:41.039



439
00:08:41.039 --> 00:08:42.790
housing will be there because ownership

440
00:08:42.790 --> 00:08:42.800



441
00:08:42.800 --> 00:08:45.110
comes later and initially uh when the

442
00:08:45.110 --> 00:08:45.120



443
00:08:45.120 --> 00:08:47.030
people are moving to the urban sectors

444
00:08:47.030 --> 00:08:47.040



445
00:08:47.040 --> 00:08:49.110
and the way we are urbanizing so lot of

446
00:08:49.110 --> 00:08:49.120



447
00:08:49.120 --> 00:08:51.110
rental housing needs to be created and

448
00:08:51.110 --> 00:08:51.120



449
00:08:51.120 --> 00:08:54.470
it needs to be viable uh for the for the

450
00:08:54.470 --> 00:08:54.480



451
00:08:54.480 --> 00:08:55.990
for the segment that we are talking

452
00:08:55.990 --> 00:08:56.000



453
00:08:56.000 --> 00:08:58.630
about. So they cannot pay uh high

454
00:08:58.630 --> 00:08:58.640



455
00:08:58.640 --> 00:09:00.870
quantum of the rent. So government is

456
00:09:00.870 --> 00:09:00.880



457
00:09:00.880 --> 00:09:02.790
discussing and coming out. It's a draft

458
00:09:02.790 --> 00:09:02.800



459
00:09:02.800 --> 00:09:04.630
paper from the NIT. I hope it's uh the

460
00:09:04.630 --> 00:09:04.640



461
00:09:04.640 --> 00:09:06.949
idea is under discussion uh to make it

462
00:09:06.949 --> 00:09:06.959



463
00:09:06.959 --> 00:09:09.030
more affordable rental housing and uh

464
00:09:09.030 --> 00:09:09.040



465
00:09:09.040 --> 00:09:11.509
what kind of role HUDCO will have. We

466
00:09:11.509 --> 00:09:11.519



467
00:09:11.519 --> 00:09:13.110
will be creating a fund. We are talking

468
00:09:13.110 --> 00:09:13.120



469
00:09:13.120 --> 00:09:14.870
about some priority sector lending also

470
00:09:14.870 --> 00:09:14.880



471
00:09:14.880 --> 00:09:17.030
to cut down the cost of fund. Finally,

472
00:09:17.030 --> 00:09:17.040



473
00:09:17.040 --> 00:09:20.470
it is uh the idea is how affordable rent

474
00:09:20.470 --> 00:09:20.480



475
00:09:20.480 --> 00:09:23.590
can be made uh to gig workers to to

476
00:09:23.590 --> 00:09:23.600



477
00:09:23.600 --> 00:09:27.430
labors uh to to all the citizens who

478
00:09:27.430 --> 00:09:27.440



479
00:09:27.440 --> 00:09:29.269
cannot pay higher rent. So this is only

480
00:09:29.269 --> 00:09:29.279



481
00:09:29.279 --> 00:09:31.430
the idea on which we are working and I

482
00:09:31.430 --> 00:09:31.440



483
00:09:31.440 --> 00:09:33.269
think very soon the detail of the scheme

484
00:09:33.269 --> 00:09:33.279



485
00:09:33.279 --> 00:09:35.509
will be there.

486
00:09:35.509 --> 00:09:35.519



487
00:09:35.519 --> 00:09:38.710
>> Okay Mr. Kul Kha last question with

488
00:09:38.710 --> 00:09:38.720



489
00:09:38.720 --> 00:09:40.550
regard to recoveries. How are those

490
00:09:40.550 --> 00:09:40.560



491
00:09:40.560 --> 00:09:42.710
coming through sir? How is how is the

492
00:09:42.710 --> 00:09:42.720



493
00:09:42.720 --> 00:09:45.269
momentum of recoveries playing out? It's

494
00:09:45.269 --> 00:09:45.279



495
00:09:45.279 --> 00:09:47.190
been slightly on the slower side and

496
00:09:47.190 --> 00:09:47.200



497
00:09:47.200 --> 00:09:48.790
therefore that's been a bit

498
00:09:48.790 --> 00:09:48.800



499
00:09:48.800 --> 00:09:50.389
disappointing from the analyst community

500
00:09:50.389 --> 00:09:50.399



501
00:09:50.399 --> 00:09:52.470
side at least. Uh is that is there a

502
00:09:52.470 --> 00:09:52.480



503
00:09:52.480 --> 00:09:54.310
pickup? Is there an expected pickup?

504
00:09:54.310 --> 00:09:54.320



505
00:09:54.320 --> 00:09:56.550
Give us a sense of that.

506
00:09:56.550 --> 00:09:56.560



507
00:09:56.560 --> 00:09:59.190
See we had already achieved 07 in

508
00:09:59.190 --> 00:09:59.200



509
00:09:59.200 --> 00:09:59.750
quarter two.

510
00:09:59.750 --> 00:09:59.760



511
00:09:59.760 --> 00:10:01.269
>> Sure. Sure. Yes. Yes. Yes.

512
00:10:01.269 --> 00:10:01.279



513
00:10:01.279 --> 00:10:03.190
>> So we are pushing ourself towards the

514
00:10:03.190 --> 00:10:03.200



515
00:10:03.200 --> 00:10:05.670
zero MPA company and all the efforts I

516
00:10:05.670 --> 00:10:05.680



517
00:10:05.680 --> 00:10:07.750
can tell you all the efforts we are

518
00:10:07.750 --> 00:10:07.760



519
00:10:07.760 --> 00:10:10.630
making that by December 2026 we will be

520
00:10:10.630 --> 00:10:10.640



521
00:10:10.640 --> 00:10:14.310
net zero company. Uh yes uh because if

522
00:10:14.310 --> 00:10:14.320



523
00:10:14.320 --> 00:10:16.389
you see it is a legal course of action.

524
00:10:16.389 --> 00:10:16.399



525
00:10:16.399 --> 00:10:18.949
We cannot decide on ourself. The

526
00:10:18.949 --> 00:10:18.959



527
00:10:18.959 --> 00:10:20.550
borrowers are there. They have their own

528
00:10:20.550 --> 00:10:20.560



529
00:10:20.560 --> 00:10:22.389
problems are there. There is a there is

530
00:10:22.389 --> 00:10:22.399



531
00:10:22.399 --> 00:10:24.389
a mechanism for resolution in the

532
00:10:24.389 --> 00:10:24.399



533
00:10:24.399 --> 00:10:26.310
country. So we have to adhere with that

534
00:10:26.310 --> 00:10:26.320



535
00:10:26.320 --> 00:10:29.670
and uh uh we had uh completely revised

536
00:10:29.670 --> 00:10:29.680



537
00:10:29.680 --> 00:10:31.590
the framework in which we were working.

538
00:10:31.590 --> 00:10:31.600



539
00:10:31.600 --> 00:10:33.190
We are talking to the borrowers

540
00:10:33.190 --> 00:10:33.200



541
00:10:33.200 --> 00:10:35.590
understanding their problems taking the

542
00:10:35.590 --> 00:10:35.600



543
00:10:35.600 --> 00:10:38.069
solutions to the board revising our OTS

544
00:10:38.069 --> 00:10:38.079



545
00:10:38.079 --> 00:10:40.470
very aggressively pushing the process of

546
00:10:40.470 --> 00:10:40.480



547
00:10:40.480 --> 00:10:43.829
the legal things in DRT or NCT. So it's

548
00:10:43.829 --> 00:10:43.839



549
00:10:43.839 --> 00:10:46.630
a matter of time only. So I think 100%

550
00:10:46.630 --> 00:10:46.640



551
00:10:46.640 --> 00:10:49.110
efforts are being made to to reach the

552
00:10:49.110 --> 00:10:49.120



553
00:10:49.120 --> 00:10:52.470
commitment of uh a zero NPA company by

554
00:10:52.470 --> 00:10:52.480



555
00:10:52.480 --> 00:10:55.750
FYI uh 27 that is December 26 that we

556
00:10:55.750 --> 00:10:55.760



557
00:10:55.760 --> 00:10:57.430
had made for us.

558
00:10:57.430 --> 00:10:57.440



559
00:10:57.440 --> 00:10:59.829
>> Okay Mr. Gulvesha on that note thanks so

560
00:10:59.829 --> 00:10:59.839



561
00:10:59.839 --> 00:11:01.269
much for taking the time out and

562
00:11:01.269 --> 00:11:01.279



563
00:11:01.279 --> 00:11:02.630
speaking with us. Good chatting with you

564
00:11:02.630 --> 00:11:02.640



565
00:11:02.640 --> 00:11:03.430
today.

566
00:11:03.430 --> 00:11:03.440



567
00:11:03.440 --> 00:11:05.509
>> Thank you so much ma'am. Good one. Okay.

568
00:11:05.509 --> 00:11:05.519



569
00:11:05.519 --> 00:11:07.760
On the