Questions across 2 calls

Punit Bahlani

Macquarie

REC Limited

REC Limited CC-Jun25.pdf · 2025-07-31

Yes. Two questions from my end. Firstly, on the infra book, if I see like we have grown around 15%, it is higher than the current loan growth. But what are the plans here? Are we planning to grow at a faster pace because -- asking this because private sector capex is kind of muted, and banks are also not going heavily on the capex front. So do we have kind of a mandate or something to grow? And I'm assuming that the current mix is broadly -- it's mainly government projects, right, in the current infra book. Secondly, if you could just repeat on the reset period that you mentioned. I think you mentioned 48% is 3 years -- sorry, 48% is 1-year reset. On the 2-year and 3-year reset, if you could mention what is it?

Got it. Yes. Thank you for this. On the infra book, majorly currently of the outstanding book, everything is government projects. I think most of it is government projects, right?

REC Limited CC-Mar25.pdf · 2025-05-14

Just sir, firstly, on the competition bit, you mentioned that you have not seen too many balance transfers in this quarter. So fair to assume that the prepayments in the renewables segment, in the transmission segment that we have deemed this quarter, there is no asset balance transfer or refinancing to a PSU bank. It is just prepayments, like that is the first one. And second, what is the interest rate differential basically between -- let's say, we are charging somewhere between 8.5% to 9% for a renewable project, what is the public sector bank charging for the same project, assuming a similar credit rating and everything? So yes, those are the 2 questions.

So not any balance transfers this quarter, like as such on a large scale, basically. It's just the repayments that have happened, like balance transfer doesn't have -- not any bank pitching in and taking account. Nothing like that has happened, right?