Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 total business grew 18% y-y to INR2.40tn; advances +7% q-q, deposits +5% q-q - Credit growth guidance for FY27: 18-20%; NIM maintained at 4.26% for Q2, full year expected above 4% - Asset quality stable: GNPA 0.69%, NNPA 0.18%, slippages below 1%; credit cost 0.43% annualized - CASA grew 5% q-q; retail term deposits contribute 73% of total deposits - Operating profit INR1,162cr (+14% y-y); net profit INR788cr (+37% y-y) - Treasury income and write-off recoveries contribute to PBT but bank expects 2% ROA sustainably - Branch expansion: 50 branches planned in FY27, focus on South, Maharashtra, Gujarat - Management cautious on margin pressure from competition and rising deposit costs; tactical pricing adjustments possible - Gold loan portfolio stable with strong margin call system; yield at 10.75%, tenure 6-12 months - Corporate loan growth cautious; working capital utilization steady; limited capex demand - Provisions at 1.65% of advances include buffers for ECL transition and contingencies