Yes, hi team. Thanks for taking my question and congrats on the quarter. Just wanted to understand how freight rates have moved in the last two months for CV operators, especially your segment of CV operators?
So I'm just trying to think then , what is the tipping point , because you've seen fuel go up 8% - 9% and while freight demand has been okay. At what point would they need to raise freight rates to sort of maintain the same profitability level?
Yes, hi team. Congrats on the quarter and thanks for taking my question. Firstly just some number keeping ones. Naveen, what was the ESOP cost in 1Q?
Sorry, that was for three years, right?
Hi, team. Congrats on the quarter. Just sort of going back to the earlier questions, this yield movement from 20.34 t o 20.76, does this include one of f interest recovery numbers or is this just core? Oommen K. Mammen No, there could be a regular turn which happens. Previous occasions, what happened is your NPA has gone down. This time, the NPAs has gone up. But the one-off cases will be, one is the auction income, INR 50 crores. And other thing is t he ARC. ARC, that is INR 35 crores. And the yield increase also has happened during the quarter.
Okay, so sir, Oommen sir, last quarter, we also had a INR 500 crore interest right back from GNPA recoveries. That would be part of this 20.34% yield number of last quarter, is it?
Many congratulations on the quarter. Just before my questions, I want to go back to the previous participant's question on branch openings. So we take it that branch openings will be business as usual. It will not be accelerated next year?
Okay. Understood. That is clear. Sir, secondly, just wanted to understand the opex growth trajectory because while I understand AUM growth has picked up, our opex growth, if I check 2 years back, it was 13%, 14%. Last year, it was 20%. Now we are running at 25% growth. Now given that most of our costs are fixed costs, why is our opex growing so fast?
Congrats on the good set of numbers. Just firstly, sir, as we think about calibrating or we have been calibrating business banking growth, you said because of yields and asset quality, won't that impact our current account growth?
Our target CASA ratio of 36% stays, right?
Hi team. Congratulations on the quarter and thanks for keeping your promise of not keeping it on a weekend. Just firstly, getting back on the NIM question, how much of your TD repricing is left?
Two more quarters.
Yes, hi, team. Congrats on the really strong set of numbers. I'll try to squeeze in two questions, if you don't mind. Firstly, can you just share some portfolio cuts or what you're seeing in the environment that gives you the confidence to pick up on MSME growth? That's my first question. Second question is in new consumer products like car loans, gold loans, etcetera, how many -- like what percentage of our business comes from existing customers and how many from new customers?
Congrats on the quarter. Just strictly on...
Okay. Is this better now?
Yes. Hi, good evening. So just first question is what led to the strong average CA growth this quarter?
Okay. So, there's no seasonality in this, right? It won't fall in 1Q?
Congrats on the quarter. Just before getting to my questions, can you just once again explain the ARC details? You got Rs 570 crores from that sale, which is 18%. Then the cash out of it, you said, was Rs 303 crores, but then you said Bandhan Bank share was Rs 256 crores?
Okay. So, Rs 266 crores is in the SR that you got?
Congratulations on the strong improvement in asset quality. I have a couple of questions to ask, probably more industry related, but also applies to you. Now firstly, in terms of growth, how should we think about cards-in-force growth now slipping to mid-single digits from double digits over the last couple of years? It's true for you all and the industry. Is it simply put just underwriting tightening and as those filters are loosened, growth picks back up? Or is it just that applications itself are slowing down at the other end?
So then it's fair to say that out of this 9 lakh, 10 lakh customers we acquire every quarter, bulk of them are existing to credit card, like very few would be new to credit card as such?
Congrats on the quarter. A couple of my questions have been asked and answered, but need some clarification. Firstly, this treasury impact , the loss of Rs. 160 crores. Now if I adjust for the stake sale in that power company, we would have actually made a profit of Rs. 115 crores. Is that correct?
So then the real credit cost for the quarter is Rs. 870 crores or Rs. 870 crores plus this Rs. 270 crores.
Congratulations on the quarter. Just continuing on the previous question, how much of the cost of funds benefit will be passed on borrowers in terms of yield pricing? In another way, are we targeting a NIM at current levels? Or are we targeting the NIM at, say, 9, 9.2 sort of levels?
Okay. Sir, if I asked this question in another way, in your budgeting today, where you budgeted 18% AUM growth for next year. What have we budgeted for margins?
Congratulations on the strong numbers. Just going back to Abhijit's qu estion on MSME even there, last few quarters, Stage 3 has been going up. And this quarter, we also slowed down growth. So anything you need to call out in MSME out here?
Okay. Okay. Understood. And sir, regarding your outlook on heavy commercial vehicles, I'm a bit confused because it does not sound like you're quite bullish. You are saying last 2 quarters, capex has been lower, and you're hoping that in the budget, some investments are anno unced. So really, what's your outlook on new HCV sales for next year?
Yeah. Hi, team congratulations on the quarter. So my first question is on CVs. When do we start seeing growth in the CV business step back – step back up. I understand you've been recalibrating for the last few quarters. When do we see that get over and growth pick back up there?
Second is on margins. Now margins, again, surprised positively. I think last quarter, when we hit the 7.5% number, you mentioned that there were one -offs and we should take the 9-month number of 7.1% as a more steady-state number. Do you still hold that belief or do we -- should we now think of 7.5% as a steady -state margin number? That’s it.
Yes. Hi, team . Congratulations on the quarter and also on hiring Mr. Saha. Just firstly, getting back to the current account thing, our growth for the last 2 quarters was good. Last quarter was even better at 8%. Is all the pickup in growth due to the capital markets business or some structural changes we have made due to which current account growth is picking up?
But see, this was also true a year back, right? Year, year and a half back. But our growth was still weak then. And we were catering to the SMEs. We had the consumer banking Page | 26 product, cross -selling current accounts to them. But this year, we have seen current account deposit growth really accelerate. So, just trying to understand, maybe it just happened by chance, but have there been any specific steps we have taken? That was my question?
Yes, hi team. Congrats on the quarter. Sir, firstly, just getting back to the MFI thing, if collection efficiency is stable from here on, credit cost will be at this 30 bps or so level or below because incrementally everything is moving to CGFMU. Is my understanding correct?
Correct. So, yes, current level is kind of net-net here to stay as long as?
Congrats on the quarter. Just a few questions. Some might be repetitive, but on this credit card slippages, so I understand that the new cohorts are doing better. Do you think it's also an issue with our collections infrastructure? Like maybe when it was with Bajaj, they have a vast collections infrastructure across multiple products, multiple districts. Obviously, it will be much bigger than us. And now when we move to ours, that is one of the reasons. So it's not just the quality o f the customer, but the ability to recover, which has impacted slippages. What do you think of that?
Okay. Got it. Got it. Sir secondly, even our secured retail slippages, are we happy with current levels? Is this built into our profitability metrics, etcetera, like INR167 crores a quarter from a INR35,000 crores book. I mean if I look apples-to-apples with other banks, obviously, it's high, but we do understand that you all have to take higher risk bets because of your cost of funds. Is this in line with your estimates or not is my question?
Congrats on the quarter. Just a few questions. Some might be repetitive, but on this credit card slippages, so I understand that the new cohorts are doing better. Do you think it's also an issue with our collections infrastructure? Like maybe when it was with Bajaj, they have a vast collections infrastructure across multiple products, multiple districts. Obviously, it will be much bigger than us. And now when we move to ours, that is one of the reasons. So it's not just the quality o f the customer, but the ability to recover, which has impacted slippages. What do you think of that?
Okay. Got it. Got it. Sir secondly, even our secured retail slippages, are we happy with current levels? Is this built into our profitability metrics, etcetera, like INR167 crores a quarter from a INR35,000 crores book. I mean if I look apples-to-apples with other banks, obviously, it's high, but we do understand that you all have to take higher risk bets because of your cost of funds. Is this in line with your estimates or not is my question?
Hi. Thanks for taking my questions and congratulations, Mr. Reddy, on this new role. I just wanted to understand when we are cutting our gold loan yields, is it done like across all slabs and across all products? Or are we cutting in, let's say, just the higher ticket product by a larger amount to attract more customers while keeping some slabs unchanged?
Okay. And so now the matching with the competitors like Muthoot and all is done, or do we have still some more room to go in terms of matching the rates?