Hope I'm audible, sir.
Yes. Sir, just wanted some perspective on the credit cost. So credit cost, which has sort of increased given the environment, would it be possible for you to sort of give any outlook on credit cost for FY '27? I mean you expect credit costs to remain in the similar range?
Yes. Just wanted to check on the yield on the alternate side. So, I know the net yield for the business is close to 90 bps. So, from an outlook perspective, do you see this yield on the PMS or the alternate piece to sort of sustain o r you think eventua lly there would be some pricing pressure on the alternate side?
Okay. And in this clarification perspective, so the sourcing for the alternate, I mean, is the mix similar to the mutual fund or is it different?
Just on the credit cost first. So you mentioned that around INR2,000 crores of write -back can flow through. So do you expect this to flow through in FY '25 itself or there will be some spillover to FY '26? And second question, related to that, is that ex of write-back in a normalized, what should be the credit costs we should assume?
Okay. Perfect. And just one clarification, you had mentioned on the growth part that disbursements would be stretching INR190,000 crores in this year, which is closer to 20% growth. But on the guidance on the growth path, we are being a little conservative . Is it that we should assume higher payment -- are the prepayment rates higher?