WEBVTT

1
00:00:05.279 --> 00:00:06.950
Well, Hoodco is the next management on

2
00:00:06.950 --> 00:00:06.960



3
00:00:06.960 --> 00:00:08.310
our radar. The stock is down close to

4
00:00:08.310 --> 00:00:08.320



5
00:00:08.320 --> 00:00:11.430
around 15% in 2026 to so far. The

6
00:00:11.430 --> 00:00:11.440



7
00:00:11.440 --> 00:00:13.110
management had recently uh you know

8
00:00:13.110 --> 00:00:13.120



9
00:00:13.120 --> 00:00:14.709
declared their numbers as well. But

10
00:00:14.709 --> 00:00:14.719



11
00:00:14.719 --> 00:00:16.150
today's session, the stock is holding in

12
00:00:16.150 --> 00:00:16.160



13
00:00:16.160 --> 00:00:18.070
the green. But to discuss the past

14
00:00:18.070 --> 00:00:18.080



15
00:00:18.080 --> 00:00:20.070
quarter, the way ahead we're joined by

16
00:00:20.070 --> 00:00:20.080



17
00:00:20.080 --> 00:00:23.349
their CMDA, Mr. Sanche Kulesha. Hi Mr.

18
00:00:23.349 --> 00:00:23.359



19
00:00:23.359 --> 00:00:25.349
Kulesha. Good morning. Always good to

20
00:00:25.349 --> 00:00:25.359



21
00:00:25.359 --> 00:00:27.670
see you in some. Before we come to you,

22
00:00:27.670 --> 00:00:27.680



23
00:00:27.680 --> 00:00:28.870
>> just want to highlight the three big

24
00:00:28.870 --> 00:00:28.880



25
00:00:28.880 --> 00:00:29.750
points that we're going to be looking

26
00:00:29.750 --> 00:00:29.760



27
00:00:29.760 --> 00:00:31.750
at. The cost of funds, will it increase

28
00:00:31.750 --> 00:00:31.760



29
00:00:31.760 --> 00:00:33.990
further from year on the 3% NIM

30
00:00:33.990 --> 00:00:34.000



31
00:00:34.000 --> 00:00:36.950
guidance, is it achievable in FI26? And

32
00:00:36.950 --> 00:00:36.960



33
00:00:36.960 --> 00:00:40.069
what about the ROA expansion plans on

34
00:00:40.069 --> 00:00:40.079



35
00:00:40.079 --> 00:00:41.910
the back of strong growth? Well, Mr.

36
00:00:41.910 --> 00:00:41.920



37
00:00:41.920 --> 00:00:43.590
Gesha, let's get to the first point

38
00:00:43.590 --> 00:00:43.600



39
00:00:43.600 --> 00:00:46.229
then. The NIM expectation for quarter 3

40
00:00:46.229 --> 00:00:46.239



41
00:00:46.239 --> 00:00:48.310
was that we'll see a 10 basis points

42
00:00:48.310 --> 00:00:48.320



43
00:00:48.320 --> 00:00:50.869
improvement when we spoke last. However,

44
00:00:50.869 --> 00:00:50.879



45
00:00:50.879 --> 00:00:52.709
the calculated NIMS actually appear to

46
00:00:52.709 --> 00:00:52.719



47
00:00:52.719 --> 00:00:54.389
have declined by around 15 to around 20

48
00:00:54.389 --> 00:00:54.399



49
00:00:54.399 --> 00:00:56.709
basis points. yields are down also a

50
00:00:56.709 --> 00:00:56.719



51
00:00:56.719 --> 00:00:58.709
little bit. Could you tell us what's the

52
00:00:58.709 --> 00:00:58.719



53
00:00:58.719 --> 00:01:01.430
guidance for NIMS from here on?

54
00:01:01.430 --> 00:01:01.440



55
00:01:01.440 --> 00:01:03.750
>> So thank you and good morning to you and

56
00:01:03.750 --> 00:01:03.760



57
00:01:03.760 --> 00:01:07.990
your viewers. Uh if you see uh regarding

58
00:01:07.990 --> 00:01:08.000



59
00:01:08.000 --> 00:01:10.870
the NIMS, our guidance is always the 3%

60
00:01:10.870 --> 00:01:10.880



61
00:01:10.880 --> 00:01:13.429
plus and we will be achieving on the

62
00:01:13.429 --> 00:01:13.439



63
00:01:13.439 --> 00:01:15.910
yearly results. Uh we are working

64
00:01:15.910 --> 00:01:15.920



65
00:01:15.920 --> 00:01:17.749
towards the improvement and we are

66
00:01:17.749 --> 00:01:17.759



67
00:01:17.759 --> 00:01:19.350
working towards cutting down of the cost

68
00:01:19.350 --> 00:01:19.360



69
00:01:19.360 --> 00:01:22.230
of funds. uh primarily the red reduction

70
00:01:22.230 --> 00:01:22.240



71
00:01:22.240 --> 00:01:24.630
in the names for the 9 month it's a

72
00:01:24.630 --> 00:01:24.640



73
00:01:24.640 --> 00:01:26.710
slight reduction of around 10 basis

74
00:01:26.710 --> 00:01:26.720



75
00:01:26.720 --> 00:01:29.590
point it is primarily due to the uh

76
00:01:29.590 --> 00:01:29.600



77
00:01:29.600 --> 00:01:32.069
dispersement made during the last uh

78
00:01:32.069 --> 00:01:32.079



79
00:01:32.079 --> 00:01:34.710
fortnight of the quarter at the same

80
00:01:34.710 --> 00:01:34.720



81
00:01:34.720 --> 00:01:36.710
time I would like to add the company is

82
00:01:36.710 --> 00:01:36.720



83
00:01:36.720 --> 00:01:39.350
growing by around 25%.

84
00:01:39.350 --> 00:01:39.360



85
00:01:39.360 --> 00:01:41.270
So the loan outstanding is continually

86
00:01:41.270 --> 00:01:41.280



87
00:01:41.280 --> 00:01:44.710
growing and we had grown from 1.24 24

88
00:01:44.710 --> 00:01:44.720



89
00:01:44.720 --> 00:01:47.190
lakh crores to 1.55 lakh crores during

90
00:01:47.190 --> 00:01:47.200



91
00:01:47.200 --> 00:01:48.950
the 9 months which is a growth of around

92
00:01:48.950 --> 00:01:48.960



93
00:01:48.960 --> 00:01:52.069
25%. Once you start growing in the

94
00:01:52.069 --> 00:01:52.079



95
00:01:52.079 --> 00:01:54.069
initial years you have to keep check on

96
00:01:54.069 --> 00:01:54.079



97
00:01:54.079 --> 00:01:57.830
your uh names or spreads because uh this

98
00:01:57.830 --> 00:01:57.840



99
00:01:57.840 --> 00:01:59.670
is very competitive and very challenging

100
00:01:59.670 --> 00:01:59.680



101
00:01:59.680 --> 00:02:01.350
ecosystem wherein the hardcore is

102
00:02:01.350 --> 00:02:01.360



103
00:02:01.360 --> 00:02:04.870
working uh which is a sector agnostic

104
00:02:04.870 --> 00:02:04.880



105
00:02:04.880 --> 00:02:07.350
company. So you have to see that uh the

106
00:02:07.350 --> 00:02:07.360



107
00:02:07.360 --> 00:02:09.910
way we are working uh we are taking care

108
00:02:09.910 --> 00:02:09.920



109
00:02:09.920 --> 00:02:12.229
of the names we are reducing our pricing

110
00:02:12.229 --> 00:02:12.239



111
00:02:12.239 --> 00:02:14.390
and I can assure you that at the end of

112
00:02:14.390 --> 00:02:14.400



113
00:02:14.400 --> 00:02:16.390
this financial year we will be as per

114
00:02:16.390 --> 00:02:16.400



115
00:02:16.400 --> 00:02:18.790
our guidance of around 3% on which we

116
00:02:18.790 --> 00:02:18.800



117
00:02:18.800 --> 00:02:20.070
had already worked.

118
00:02:20.070 --> 00:02:20.080



119
00:02:20.080 --> 00:02:21.990
>> Got it. All right so that's on ns what

120
00:02:21.990 --> 00:02:22.000



121
00:02:22.000 --> 00:02:23.990
about on rosas I think it's currently at

122
00:02:23.990 --> 00:02:24.000



123
00:02:24.000 --> 00:02:25.990
around 1.9 you were talking about moving

124
00:02:25.990 --> 00:02:26.000



125
00:02:26.000 --> 00:02:28.070
to around 2.15%.

126
00:02:28.070 --> 00:02:28.080



127
00:02:28.080 --> 00:02:29.510
What's the tragedy? What do you end this

128
00:02:29.510 --> 00:02:29.520



129
00:02:29.520 --> 00:02:30.869
year with and where is that number

130
00:02:30.869 --> 00:02:30.879



131
00:02:30.879 --> 00:02:32.070
headed

132
00:02:32.070 --> 00:02:32.080



133
00:02:32.080 --> 00:02:34.309
>> again? uh as per the arithmetic when you

134
00:02:34.309 --> 00:02:34.319



135
00:02:34.319 --> 00:02:37.670
grow by this number of 25% again the ROE

136
00:02:37.670 --> 00:02:37.680



137
00:02:37.680 --> 00:02:40.070
will come under the pressure we we will

138
00:02:40.070 --> 00:02:40.080



139
00:02:40.080 --> 00:02:43.509
be plus 2% uh the reason is same the

140
00:02:43.509 --> 00:02:43.519



141
00:02:43.519 --> 00:02:45.110
last fortnight dispersement in the

142
00:02:45.110 --> 00:02:45.120



143
00:02:45.120 --> 00:02:47.750
quarter three but as you see that we are

144
00:02:47.750 --> 00:02:47.760



145
00:02:47.760 --> 00:02:49.509
planning our dispersement on quarterto

146
00:02:49.509 --> 00:02:49.519



147
00:02:49.519 --> 00:02:51.910
quarter basis so we are improving on our

148
00:02:51.910 --> 00:02:51.920



149
00:02:51.920 --> 00:02:54.309
bottom line on quarterto quarter basis

150
00:02:54.309 --> 00:02:54.319



151
00:02:54.319 --> 00:02:56.470
so this is the primary reason but I will

152
00:02:56.470 --> 00:02:56.480



153
00:02:56.480 --> 00:02:59.350
not hide about uh the growth but I will

154
00:02:59.350 --> 00:02:59.360



155
00:02:59.360 --> 00:03:02.390
keep this number plus 2% in the times to

156
00:03:02.390 --> 00:03:02.400



157
00:03:02.400 --> 00:03:05.030
come and I I think within a year or two

158
00:03:05.030 --> 00:03:05.040



159
00:03:05.040 --> 00:03:08.070
they will be settling at 2.1 2.15% as

160
00:03:08.070 --> 00:03:08.080



161
00:03:08.080 --> 00:03:10.149
you have mentioned. Got it sir. And what

162
00:03:10.149 --> 00:03:10.159



163
00:03:10.159 --> 00:03:12.630
about urban infra sir? As a percentage

164
00:03:12.630 --> 00:03:12.640



165
00:03:12.640 --> 00:03:14.149
of your book, what is it? Where is it

166
00:03:14.149 --> 00:03:14.159



167
00:03:14.159 --> 00:03:16.309
headed? That's the better yields, right?

168
00:03:16.309 --> 00:03:16.319



169
00:03:16.319 --> 00:03:19.910
You enjoy urban infra. So I think this

170
00:03:19.910 --> 00:03:19.920



171
00:03:19.920 --> 00:03:21.910
is a very relevant question as a country

172
00:03:21.910 --> 00:03:21.920



173
00:03:21.920 --> 00:03:24.869
also. If you see uh during last month

174
00:03:24.869 --> 00:03:24.879



175
00:03:24.879 --> 00:03:28.790
lot of uh lot of uh uh lot of uh drivers

176
00:03:28.790 --> 00:03:28.800



177
00:03:28.800 --> 00:03:30.789
had came into the urban development

178
00:03:30.789 --> 00:03:30.799



179
00:03:30.799 --> 00:03:33.190
which is a growth story and we are

180
00:03:33.190 --> 00:03:33.200



181
00:03:33.200 --> 00:03:34.869
planning that how the global cities has

182
00:03:34.869 --> 00:03:34.879



183
00:03:34.879 --> 00:03:37.110
to be planned for GIS bharat. uh

184
00:03:37.110 --> 00:03:37.120



185
00:03:37.120 --> 00:03:38.710
government of India has taken lot of

186
00:03:38.710 --> 00:03:38.720



187
00:03:38.720 --> 00:03:40.149
measures starting from the budgetary

188
00:03:40.149 --> 00:03:40.159



189
00:03:40.159 --> 00:03:43.589
allocations of the uh financial capital

190
00:03:43.589 --> 00:03:43.599



191
00:03:43.599 --> 00:03:46.390
expenditures to the policym then uh

192
00:03:46.390 --> 00:03:46.400



193
00:03:46.400 --> 00:03:48.470
creating a partial guarantee fund in the

194
00:03:48.470 --> 00:03:48.480



195
00:03:48.480 --> 00:03:50.070
financial commission finance commission

196
00:03:50.070 --> 00:03:50.080



197
00:03:50.080 --> 00:03:51.830
16th finance commission you may have

198
00:03:51.830 --> 00:03:51.840



199
00:03:51.840 --> 00:03:55.589
observed the way to 55% of the uh urban

200
00:03:55.589 --> 00:03:55.599



201
00:03:55.599 --> 00:03:57.589
local body grant has been increased how

202
00:03:57.589 --> 00:03:57.599



203
00:03:57.599 --> 00:04:01.910
the uh incentive for

204
00:04:01.910 --> 00:04:01.920



205
00:04:01.920 --> 00:04:05.270
becoming the urban from rural has been

206
00:04:05.270 --> 00:04:05.280



207
00:04:05.280 --> 00:04:07.190
started how the reform parameters are

208
00:04:07.190 --> 00:04:07.200



209
00:04:07.200 --> 00:04:09.270
started then you have seen the economic

210
00:04:09.270 --> 00:04:09.280



211
00:04:09.280 --> 00:04:11.670
survey also. So everybody everything is

212
00:04:11.670 --> 00:04:11.680



213
00:04:11.680 --> 00:04:13.910
pointing toward how we will grow in the

214
00:04:13.910 --> 00:04:13.920



215
00:04:13.920 --> 00:04:16.069
urban segment. So this is a big market

216
00:04:16.069 --> 00:04:16.079



217
00:04:16.079 --> 00:04:17.509
for hardcore. This is a big

218
00:04:17.509 --> 00:04:17.519



219
00:04:17.519 --> 00:04:19.749
responsibility in the challenging times

220
00:04:19.749 --> 00:04:19.759



221
00:04:19.759 --> 00:04:22.069
for the hardcore uh to sustain its

222
00:04:22.069 --> 00:04:22.079



223
00:04:22.079 --> 00:04:24.150
business to keep the momentum going and

224
00:04:24.150 --> 00:04:24.160



225
00:04:24.160 --> 00:04:26.310
to contribute in the development of our

226
00:04:26.310 --> 00:04:26.320



227
00:04:26.320 --> 00:04:28.629
country. So there is a huge

228
00:04:28.629 --> 00:04:28.639



229
00:04:28.639 --> 00:04:30.150
responsibility and there's a huge

230
00:04:30.150 --> 00:04:30.160



231
00:04:30.160 --> 00:04:32.710
potential in this market to grow growth

232
00:04:32.710 --> 00:04:32.720



233
00:04:32.720 --> 00:04:34.230
for the hardcore. So we are well

234
00:04:34.230 --> 00:04:34.240



235
00:04:34.240 --> 00:04:36.390
positioned and with this perspective we

236
00:04:36.390 --> 00:04:36.400



237
00:04:36.400 --> 00:04:38.710
had announced uh urban invest window

238
00:04:38.710 --> 00:04:38.720



239
00:04:38.720 --> 00:04:41.110
which will become a one-stop uh solution

240
00:04:41.110 --> 00:04:41.120



241
00:04:41.120 --> 00:04:43.110
for the urban local bodies to create a

242
00:04:43.110 --> 00:04:43.120



243
00:04:43.120 --> 00:04:45.510
bankable sustainable and viable bodies

244
00:04:45.510 --> 00:04:45.520



245
00:04:45.520 --> 00:04:48.870
viable projects and in this uh uh

246
00:04:48.870 --> 00:04:48.880



247
00:04:48.880 --> 00:04:52.150
respect I would like to inform that uh

248
00:04:52.150 --> 00:04:52.160



249
00:04:52.160 --> 00:04:54.550
recently our cabinet has also approved

250
00:04:54.550 --> 00:04:54.560



251
00:04:54.560 --> 00:04:56.230
the urban challenge fund which is a one

252
00:04:56.230 --> 00:04:56.240



253
00:04:56.240 --> 00:04:58.310
lakh cr subsidy which will be extended

254
00:04:58.310 --> 00:04:58.320



255
00:04:58.320 --> 00:04:59.749
by the government of India and three

256
00:04:59.749 --> 00:04:59.759



257
00:04:59.759 --> 00:05:01.909
lakh crores has to be arranged by one

258
00:05:01.909 --> 00:05:01.919



259
00:05:01.919 --> 00:05:03.749
lakh will be from the state government

260
00:05:03.749 --> 00:05:03.759



261
00:05:03.759 --> 00:05:06.550
side and uh for PPP project it is around

262
00:05:06.550 --> 00:05:06.560



263
00:05:06.560 --> 00:05:08.629
two lakh it's a big opportunity which is

264
00:05:08.629 --> 00:05:08.639



265
00:05:08.639 --> 00:05:10.550
coming uh there is lot of intervention

266
00:05:10.550 --> 00:05:10.560



267
00:05:10.560 --> 00:05:13.830
from the legislation policy capital so

268
00:05:13.830 --> 00:05:13.840



269
00:05:13.840 --> 00:05:16.629
everybody is working how our vix bat

270
00:05:16.629 --> 00:05:16.639



271
00:05:16.639 --> 00:05:19.909
will come a growth of kind of cities and

272
00:05:19.909 --> 00:05:19.919



273
00:05:19.919 --> 00:05:21.510
the momentum will come in the

274
00:05:21.510 --> 00:05:21.520



275
00:05:21.520 --> 00:05:23.270
development of the ecosystem in the

276
00:05:23.270 --> 00:05:23.280



277
00:05:23.280 --> 00:05:24.790
urban segment

278
00:05:24.790 --> 00:05:24.800



279
00:05:24.800 --> 00:05:26.629
>> always good to have you on the show Mr.

280
00:05:26.629 --> 00:05:26.639



281
00:05:26.639 --> 00:05:29.110
Kesha wishing you all the best. We catch

282
00:05:29.110 --> 00:05:29.120



283
00:05:29.120 --> 00:05:31.189
up soon. Wishing you and the team all

284
00:05:31.189 --> 00:05:31.199



285
00:05:31.199 --> 00:05:33.029
the very best. Have a good day ahead.

286
00:05:33.029 --> 00:05:33.039



287
00:05:33.039 --> 00:05:36.919
>> So much. Thank you so much.