Sanket Chheda

Yes, Hi Sir , My question was that in last 2 years we have seen developments in other P SU- NBFCs as well. So, PFC-REC like earlier used to do only power, later they have been mandated to do infra which is non-power as well as we see renowned CAPEX after many years and signs of private CAPEX picking up is already visible. So, in case of IRFC so far, we have been only into railways related financing.

As far as the pricing is concerned, we see that REC-PFC cost of funds are around 7-7.2 and they lend at around 9.5, so they make about 2.3 -2.5. We have been operating at a very thin spread. If we continue to do so for the other infra, is there a possibility to gain the market share from the others NBFCs dealing infra segment or any thoughts there?

The other question was , that one is that what kind of a growth CAGR we should expect over next 2 years, 3 years, 5 years that you would have under the plan and particularly outside the railway related financing which has been a zero NPA business for us. Whatever other things that we do, how do you see the share of that piece moving in say 3 years or 5 years?