Hi team. Congrats on the quarter. Just wanted to clarify on one statement that you made, sir. What is the contribution of fintechs to SIPs? Did I hear 8.6 million?
8.6 million in just a quarter. It sounds too high. That's why I'm asking?
Questions across 15 calls
Piran Engineer
CLSA India
HDFC Asset Management Company Limited
Hi team. Congrats on the quarter. Just wanted to clarify on one statement that you made, sir. What is the contribution of fintechs to SIPs? Did I hear 8.6 million?
8.6 million in just a quarter. It sounds too high. That's why I'm asking?
IndusInd Bank Limited
Yes, hi. Thanks for the enhanced disclosures. Just firstly, quick data or quarterly questions. Other OPEX has declined quite meaningfully quarter-on-quarter from about Rs. 2,700 crores to Rs. 2,400. Anything to add to this?
Got it. Thanks for that. Secondly, moving on to more mid -term questions. With the MFI share shrinking, I know you touched upon how it is important from a PSL perspective, but it is already down from like 9% to 6% of book in the last 2 quarters. And probably a year later, it might be even lower. So how are you thinking about bridging the gap? And you also mentioned your Bharat Super Shop, which is the merchant loan business. Does that also qualify for PSL?
Congrats on the quarter in this challenging environment. Just circling back to micro finance. Firstly, is January better than December, if you can comment obviously, on collections, not growth?
Okay. Understood. So Stage 2 flowing into Stage 3.
Yes. Hi team. Thanks for taking my question. Just firstly on the NIM front or rather yield front, how much of the repo pass through is done?
No, in the EBLR.
The Federal Bank Limited
Yes, hi team. Thanks for taking my question and congrats on the quarter. Just a couple of questions. Firstly, on fee income now, we have done a good job on fee income over the last 3-4 quarters since you joined. Is this more a case of low hanging fruit being p lucked and now fees will grow in line with balance sheet or can fees continue to sustainably grow for a long period faster than the balance sheet? And if so, then what are the drivers, of course?
Fair enough. Secondly, just on growth, two questions are both related to growth. One is, I think I heard as mentioned that growth will be 1.2x of nominal GDP. Did I hear that? Is that only for FY '26? Because we used to usually grow at 18%-20%, then we did this recalibration?
HDFC Bank Limited
Yes. Hi, team. Congrats on the strong results. Most of my questions are answered, just a couple of follow-ups. Firstly, Srini, when you mentioned that credit costs will normalize, it's a matter of when and not if, I'm just thinking which segments will result in this normalization, because corporate isn't likely to worsen, secured retail is fine, and unsecured will only get better. So why should we assume that credit costs will rise in the future?
But there's nothing on the horizon, at least in the foreseeable future that we see?
Bandhan Bank Limited
Just a few follow-ups on MFI. Firstly, have you all or the industry hike MFI yields, yields and processing fees?
And no cut either?
Bajaj Housing Finance Limited
So before I get to my question, I just want to ask the previous participants question a different way. In the 17% disbursement growth, would the retail growth be higher or lower than this, than the overall average?
My first main question really is on builder loans. This is a product where you're growing quite fast. If you can just give us some sense of what percentage of the loan book is under moratorium right now, or where the DCCO has not yet come. Because I see you r stage two is nil and stage three is just a few crores. So want to get a sense of whether the entire pool right now is even eligible for repayments or most of it is under moratorium?
Bajaj Finance Limited
Just a couple of questions. One, a follow -up on Umang's question, and you mentioned Atmanirbhar. Just wanted to understand, once the two entities are actually Atmanirbhar how will the customer data sharing work in the sense that one of our propositions was you acquire and cross-sell...
Okay. And is it fair to say bulk of their customers are your customers? Or do we have a large share of independent...
Few ones. Firstly, on credit cards, not just this quarter, but last several quarters, the sourcing has sort of stagnated at INR1.5 lakhs, INR2 lakhs a quarter. What really has led to this? And how should we think about delinquencies and credit cards impacting your fee income?
Okay. So it's on their part, on the part of the banks essentially?
Mahindra & Mahindra Financial Services Limited
Congrats on the quarter, and congrats to Raul for the -- for your next role. A couple of questions here. Firstly, can you comment a bit on vehicle finance disbursement growth outlook? We saw a slightly tepid festive season, and it's kind of reflected in numbers in December. And I'm not just referring to Mahindra Finance, but in general for the industry. So what is your outlook? Where are the risks? Are you seeing discounts go up? We've heard that for commercial vehicles. Is that also the case for passenger vehicles. Some commentary on outlook on growth would be useful here.
Okay. So the sense I get putting the grammar into words is that disbursement growth might taper off a bit next year?
Shriram Finance Limited
Firstly, just wanted to understand that we have added 5000 employees this quarter, but our employee opex is absolutely stable, so any one-offs either last quarter or this quarter?
Sir, can you remind us how much that amount was?
Axis Bank Limited
Thanks for taking my questions and congrats on the quart er. Some of them have been answered, but I have a couple remaining. Firstly, on your sharp increase in repo link loans in the last two quarters, that too without much growth in home loans, is it fair to say that you're moving to better quality corporates or is it just more bargaining power in the hands of the corporates now?
But that hasn't increased much in the last two quarters, right? It's actually just flat at 11%. So, whereas your share of repo link loans has gone up from 41 to 46, so I'm presuming its large corporates that are being repriced?
ICICI Bank Limited
You've done a good job in controlling opex. Can you just give us some glimpse of where this is coming from? Where are we getting these benefits from? What should we expect in the coming, say, FY25-26?
And your branch openings have also slowed down this year compared to the run rate that we are running at earlier. So, any particular reason ? And is this also a reason why opex growth has been trending a bit lower?