WEBVTT

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We have with us Mr. Sanche Kulchesra the

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chairman and managing director of the

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company who joins us on the show. Hi

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sir, good morning. Good to see you Ben.

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The street seems to be saying mango you

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know they wanted better growth better

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numbers. Now give us the let's leave

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what happened you know behind and let's

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look ahead. What kind of growth are you

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you know targeting for this year and if

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you could tell us you know you were

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saying you're pivoting a little bit away

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from the government and you're looking

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at some private business as well. So as

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a percentage of the mix what can it move

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to in the coming year and three years

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hence?

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>> Uh I will start from the recap of the

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last financial year and uh I think we

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had

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>> almost those numbers sir but you can

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give a brief one. Yeah. So I think uh

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it's more than around 28 29% uh uh

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enhancement in the loan book the profits

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the revenue and uh the way we had

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resolved our NPA assets and recovered

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around 400 crores and land up at around

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05% of the net NPA so I'm very pretty

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sure uh that the loan sanctioned during

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the financial year was around 165 lakh

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crores the dispersement was around

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51,000 crores so on yearonyear basis we

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continually growing and lot of reforms

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we had undertaken the within the company

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and there is a lot of push from the

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government of India towards the creation

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of sustainable bankable and viable urban

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infrastructure. So regarding the next

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part of this question uh I think uh with

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the opportunity uh within the company

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within the country and the policy and

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the legislative support other than the

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financial support from the government of

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India and the commitment from the state

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government I'm very sure uh the way we

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are moving uh the opportunities are very

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huge uh it may be towards the public

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sector or the state sectors or the

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private sector and with this we we are

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starting the private sector financing

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and We have not taken any target for the

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private sector. It with the targets will

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be the good entities, the good financial

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models and the good projects which has

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good outcomes. So that that that will be

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the bottom line on which the philosophy

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of the company is and we will be

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financing that kind of projects.

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>> All right, we take that point. But just

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you know for us to understand a little

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bit you have targeted your balance sheet

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to be about three lakh crores by the end

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of FI30 versus about a lakh and a half

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cr right now. Mr. Kulta in the very near

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term do you see any risk to credit

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growth from your end largely because of

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the austerity measures which have been

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announced by the government are any

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capex plans being put on hold given the

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sort of strain that you know the the

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country is expected to go through on

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financing.

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So it is very relevant question that

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austerity is there but at the same time

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the service level index in the country

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has to be improved the way government of

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India has came out with the urban

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challenge fund where in the 25% uh

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subsidy or grant amount will be there

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for the bankable project and we have to

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create our city as the growth house. So

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this is the primary kind of uh uh

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development uh that needs to be done. it

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cannot be kept on hold and government of

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India is fully aware and that's why they

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are supporting with this 25%. So another

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25% has to come from the state

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government for which has already

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launched the urban invest window and we

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will be handholding in creation of the

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project formulation of the project

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identifying their assets and make them

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bankable and then we will assist them in

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the financial closure including issuance

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of the domestic and international bond.

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So I am pretty sure the way company uh

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growth is there the way opportunities

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are there

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I don't think uh because of the basic

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infrastructure need the growth will come

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down uh rather it will continue to

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multiply

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>> okay so you are confident on growth uh

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let's let's speak about uh you know

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return and margins because I remember

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you telling us that you are keen on

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maintaining your return on asset profile

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to between 2 and a half to 3% and also

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your NIMS at around 3 and a half%. But

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this time as we speak despite your

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borrowing costs coming down your NIMS

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have contracted to sub 3%. And if you

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could give us a target on your ROA as

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well.

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>> Yeah. So I think uh when we last spoken

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it was around 3.2 2 to 3.3 kind of names

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we were we were be going and this year

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also we had just touched 3% and I'm very

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sure because see the growth momentum is

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very high the denominator that is the

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loan assets are continually growing up

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at the rate of around 28 and 29%. So it

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is obvious that uh the NIS will have

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some stress but at the same time if you

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have rightly pointed out that we had

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been very able to control our cost of

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funds which is not only the external

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cost of funds but we had also reduced

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our internal costs. So finally we are

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transferring uh all these measures to

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our state government partners so that

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the viable infrastructure will be

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created in the states but at the same

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time I can assure you that our names

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will be around 3 3.2% 2% in a maybe in

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the next quarter you will see there is a

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quantum increase and the strongness in

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these names at the same time ROA also

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when I have last spoken it was around

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2.2% 2% which we think is a healthy ROA

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for any financial company if there is no

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NPA. So we are committed to become zero

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NPA. It will further enhance and the uh

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return on assets and there is no uh

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there is a uh resolution of all the

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assets. So this will further strengthen

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the books of the company

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>> RO around 2.2%.

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>> ROA around 2.2% right sir

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>> around 2.2%. Yes. when we had spoken in

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the past I think you were talking about

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roises as well moving up around 100

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basis points what's the target of that

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>> they will be moving uh actually if you

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have seen the return on equity is this

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time around 19 18 19% so return will be

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around 15 16% that's what in a long run

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we will be stabilizing and uh with this

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kind of growth uh there may be some

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pressure in some of the quarter but if

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you see we had doubled our loan book in

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uh last uh three financial years it

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80,000 crores in 2023 and this time it

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327
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is 1 lakh 60,000 crores. So there may be

328
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329
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a temporary pressure on some of the

330
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331
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ratios but on quartertoquarter basis you

332
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333
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may see that the improvement will be

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335
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there and they will be stabilized.

336
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337
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Because our moto is not to earn the

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339
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profit. We are a developmental financial

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341
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institution kind of thing and we always

342
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343
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have that kind of moto that if the

344
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345
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projects are good, the estates are doing

346
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347
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good then only the aspirations of the

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349
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citizens like the way in which

350
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351
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infrastructure we are working uh the

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353
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satisfaction will come from the uh

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355
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estates.

356
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357
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We take that point uh you know but I

358
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359
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think shareholders will want you to uh

360
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361
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keep the moto of profitability along

362
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363
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with the growth that you're doing and

364
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365
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I'm sure you know it's

366
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367
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>> yes everyone's monitoring the the the

368
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369
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kind of growth that you're promising

370
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371
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right now and in the very near term if

372
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373
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there is any sort of moderation uh

374
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375
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because of the austerity measures is

376
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377
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something that we will be tracking very

378
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379
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closely but point very well taken Mr.

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381
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Thank you so much for joining in. Uh

382
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383
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that was hardco good growth coming in

384
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385
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the stock under pressure but management

386
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387
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guides for better times going ahead

388
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389
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especially on the growth front and also

390
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391
00:07:16.240 --> 00:07:18.710
nims between 2.9 to 3% with 100 basis

392
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393
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points improvement in their roe.