Sir, just a few questions. So first is on Dahlias. So the RERA filing which you filed, the gross margins, as you rightly said, is 70. That seems to imply a construction cost north of like INR20,000. Is the number, right? I mean, why is the construction cost so high?
So basically, in the construction cost, you basically subsume that entire -- the land near Crest basically comes into golf course? You basically...
Sir, just a few questions. So first is on Dahlias. So the RERA filing which you filed, the gross margins, as you rightly said, is 70. That seems to imply a construction cost north of like INR20,000. Is the number, right? I mean, why is the construction cost so high?
So basically, in the construction cost, you basically subsume that entire -- the land near Crest basically comes into golf course? You basically...
Just two questions. One is on the wholesale book what's the magnitude of its total write-off now left? So that's one. And the second is essentially on your core fee it's up about 24%. So given -- would you expect this momentum to sustain in the next two years given the shift in retail and your expectation of 20% advances growth? So these are the two ones.
Yes. So I just want to know what is the magnitude of the total return of book and if you can tell us what the wholesale component of that is?
I am on the Slide 15 of your Presentation. So, just a question on this open market channel. So now you have a history of more than 6 years of this business. Given the delinquency, given the operating cost of the channel, do you think that the profitability of this channel is better than the company average? Or it will be lower than the company average?
Just two questions. So one is could you just comment on the net slippages both in corporate and SME that continue to be negative. So how long would you expect that situation to last? And the second is I just want to confirm on this borrowings number. I just want to get to how much is the refinance. The number I am getting basis your disclosure is about INR1.1 trillion. I just want to confirm if that number will be about right like the total refinance borrowings of the total borrowings. These are two questions?
Yes. Just on the refinance, is this considered like for an adjusted LDR calculation, will this be -- because this would be backing certain assets. So is there like an adjusted LDR which you do taking out refinance or not?
Yes. Okay. Sir, 3 questions. So , first is on your run rate revenue. So basically, you said your run rate will now be 4 7. So, based on that, can we assume that the current mix assumes that your EBIT should come back to the 36 odd basis points now?
Okay. I think I got to 36. Okay, fine. 35 is okay. The second, sir, is essentially, you mentioned that your flow market share is higher, how much higher can you quantify? How much higher will it be?
Sir, 2 questions. One is on your operating cash flow, do you think the guidance for fiscal '24 will be met 1x net debt to operating cash flow? So that's the first one and what will underline that? The second is essentially on this price growth at Palava, so effectively, if the infrastructure comes in and you see Palava get better connected, let's s ay, to the City Centre. And then if we look at comparable locations, like Thane, Goregaon or even Airoli. The price differential to Palava will be like very high. So you think that infrastructure, we should be now better price growth coming through in Palava or you would still want to grow price at like 3%, 4%. So that's the second one. And one small one is essentially on construction co st. Can you just highlight what would your incremental construction cost let's say in Palava a nd, let's say, high-end development and in South Bombay? Thank you.
Okay. Got it. And broadly in Palava, we should see price appreciation more than construction costs, so your gross margin should keep increasing.
So I had a few questions. So first is the impact of the BMC order on pollution and all. Do yo u think this impacts your construction spend at least for this quarter?
Okay. Understood. The second is essentially -- so you talked about this Eastern Suburbs. So we are seeing a lot of infrastructure come up like Navi-Mumbai Airport, the Trans Harbour Link, the Airoli connectivity, which you spoke about. So if you have to imagine, what happens, let's say, two years or three years out, would you expect, let's say, the differential in pricing between where Palava Airoli belt rates versus, let's say, the Andheri East , Goregaon, Kandivali belt to trade because the relative infrastructure is higher in Eastern Suburbs should that differential start to narrow down because the differential today is more like 3x to 4x?
Just three questions. One is what will be the investment this quarter, Saumil, and basically both the Thane and the Gurgaon. I just want to get your cash flow. It seems that your debt has gone down by Rs. 190 crores. So how much was the land acquisition spend?
But no deposit also.
Just two questions. One is just on your margin profile, so your residential business seem to have reset to a high margin. And do you think this is sustainable, medium -term, given that Thane launch is coming up, but also have an offset in terms of better realization of Three Sixty . So how should we think about this 45% of margin that you seem to have reset versus the 37%, 38% you used to operate earlier? So that's question one. And the second is just in terms of this whole pollution impact, do you think there's a chance that, given the direction we have come with BMC, the construction activity kind of slows down, both for you and for the broader industry over the next four months. These are two questions.
Okay. And just in terms of the Bombay is basically going to see a lot of infrastructure investments over next 2 years, especially. But part of it is concentrated on the eastern side in terms of the new airport trans harbour link. Do you think that there's like a realistic change which happens in the Bombay -- along the western suburbs now more towards the Eastern especially the Navi Mumbai belt? Or do you think your North and West is still very attractive?
Yes. Just two questions. One is, what will be the 30 -plus overdue book in the microfinance business? That's first. And second, on your balance sheet, we have this trend that your loans are growing 20%, assets are only growing 10%, how long do you think this trend sustains. Do you think that's normalized when your asset growth starts mirroring loan growth or the other way?
Okay. Thank you.
Sir, just 2 questions. One is your interest on advances has not gone up. So can you just also -- because I thought there would be some repricing, which would happen in the microfinance book. So, what's happening there? And second is, again, back to this forward flow question. So, if you look at your entire zero-plus including NPA, that's gone up by about close to INR300 crores for the quarter. That's 2.3% of the opening book. Is that a fair way to understand it?
Okay. And for the interest expense also because of this -- that's mostly mix change or?
Sir the excess liquidity that you're referring to sir, this will be the difference between LCR and organized...
Will that be the excess liquidity you will referring to?