Bhavin Pande

Congratulations on wonderful set of numbers and consistent performance. Feroze, what do you think once our AUM crosses INR One lakh crores, INR Two lakh crores, the base effect would come in when we look at growth. So how do we look at growth once the base effect comes in? Secondly, perspective on flows from the existing families and new client additions.

Base effect coming in. Right now, we are almost at INR One lakh crores, maybe two years down the line, you'll be at INR Two lakh crores. So how do we look at the growth numbers that 25% growth that we were kind of looking at, but is it coming about currently with 28% - 30% growth on a Y-o-Y basis. So the second leg of growth, would it be slightly lower or we still maintain the 25% kind of growth number?

And your outlook on the market, given the way we are seeing consumption boost and government initiatives and the same?