• NIM and earnings: Net interest income grew 16% year-on-year and PAT rose 38%, with management guiding to maintain net interest margins at around 6.5% as borrowing costs normalize through NCDs and securitization.
• Distribution network expansion: Quarterly disbursements doubled year-on-year driven by SME and MSME demand, supported by adding six new product lines and expanding touchpoints by 696 to reach 5,995.
• Credit cost stability: Excluding the COVID period, credit costs have historically remained below 2% and stayed well below 1% over the past five years due to disciplined underwriting.
• Portfolio buyout strategy: The company is not pursuing personal loan NBFC acquisitions, focusing instead on buying out portfolios specifically tied to income-generating activities to ensure stronger recovery ability.
• Delinquency risk monitoring: After adding 1.8 million new customers in the quarter, early cohorts are being tracked closely over a 6-to-12-month window, with early portfolio indicators remaining within expectations.