• Individual loan growth: Individual loan AUM rose to ₹3,214 crore with zero delinquency and 100% digital collections via eNACH and UPI for borrowers with credit scores of 700 and above. Total AUM reached ₹14,000 crore, marking an 18% year-on-year increase supported by nearly 50% disbursement growth.
• Gold loan strategy: Under the co-lending partnership with Muthoot Fincorp, the company targets ₹1,200 crore in annual gold loan disbursements, translating to about ₹500 crore in AUM due to shorter product tenors. To mitigate gold price volatility, loan-to-value ratios are capped conservatively at or below 75%, against a regulatory allowance of 85%.
• Cost of funds: Following a rating upgrade to AA- by CRISIL, borrowing costs are projected to fall by 25 to 35 basis points this fiscal year, delivering a ₹25 to ₹30 crore boost to the bottom line. Q1 incremental borrowings stood at 9.9%, with pass-through certificate (PTC) transactions being executed at or below 8%.
• Margin expansion outlook: Management remains confident in sustaining the 13.5% to 14% net interest margin guidance, driven by portfolio repricing, improved asset quality yields, and ongoing reductions in funding costs.