1. Loan growth - 10-11% for years to come Pending - At the Q2 FY26 call, management stated they expect to maintain 10-11% growth for the years to come. The inferred horizon of multiple years from Q2 FY26 has not been reached, and no outcome data is yet available.
2. Sinnar Thermal - resolution plan submitted to NCLT Delivered - At the Q2 FY25 call, management expected to finalize bid evaluation in about a month and submit to NCLT, later softening the timeline at the Q4 FY25 call. By Q2 FY26, the resolution plan for Sinnar Thermal had been submitted for NCLT approval and subsequently approved.
3. Loan growth - 10-11% for FY26 Missed - At the Q4 FY25 call, management guided loan growth of 10-11% for FY26, reiterated at the Q2 FY26 call. FY26 loan book closed at \~₹5.8 lakh crore, reflecting 7% growth, with management citing prepayment headwinds for the shortfall.
4. TRN Energy - resolution within FY25 Partial - At the Q2 FY25 call, management expected to conclude resolution of TRN Energy (₹1,139 cr) within FY25, reiterated at the Q3 FY25 call. By Q4 FY25, the restructuring plan was finalized with documentation underway, but no completion disclosure exists through Q2 FY26.
5. KSK Mahanadi - resolution within FY25 Delivered - At the Q1 FY25 call, management guided resolution of KSK Mahanadi should happen within FY25, with more than 100% recovery expected. KSK Mahanadi (₹3,300 cr) was resolved in Q4 FY25 through NCLT, achieving 100% principal recovery against an admitted claim of ₹4,448 cr.
6. Infrastructure sector share - reach 30% cap in 3-4 years On track - At the Q1 FY25 call, management guided the infrastructure sector share would take three to four years to reach the 30% cap. Infrastructure outstanding has grown from 1.56% (₹7,400 cr) in Q1 FY25 to \~2.3% (₹12,534 cr) in FY25, with the FY29 horizon still far off.
7. Shiga hydro project - resolved outside NCLT in FY24 Partial - At the Q3 FY24 call, management guided resolution of the Shiga hydro project (₹500 cr) in FY24, later revising the deadline to FY25 at the Q2 FY25 call. By Q4 FY25, Shiga Energy (₹522 cr) was under advanced resolution with documentation underway, but no completion disclosure exists through Q2 FY26.
8. Renewable portfolio - reach \~20% of total in 2-3 years On track - At the Q3 FY24 call, management guided the renewable portfolio (\~12% of total) may reach around 20% in the next two to three years. Renewable portfolio grew 35% YoY to ₹81,031 cr in FY25 (\~14.9% share), with the Q3 FY27 horizon still ahead.
9. Loan growth - \~12-15% for FY25 Delivered - At the Q3 FY24 call, management guided FY25 loan growth of \~12-15%, later narrowing to \~12-13% at the Q3 FY25 call. FY25 loan asset growth was 12.81%, landing within the latest guided range.
10. LPS scheme - remaining balance of \~₹47,900 cr sanctions disbursed in 1-2 years Pending - At the Q4 FY23 call, management guided the remaining LPS balance would be disbursed in one to two years, later extending the horizon to two to three years from Q3 FY24 on an expanded sanction base of ₹61,000 cr. The latest horizon of Q3 FY27 has not been reached, and no final disbursement completion disclosure is available.
11. Spread maintained within targeted range - \~2.5% On track - At the Q4 FY23 call, management guided spread would be maintained within the targeted range, and at the Q4 FY25 call the FY26 spread guidance was reiterated at around 2.5%. Spread was 2.53% in FY23, 2.64% in FY24, 2.58% in FY25, and 2.55% in H1 FY26, all within or near the guided range, with the FY26 outcome still pending.
12. Loan book growth - double-digit / \~14% for FY24 Delivered - At the Q4 FY23 call, management guided double-digit loan book growth, sharpened to 15-20% at Q2 FY24, and reset to \~12-15% for FY24 at the Q3 FY24 call. FY24 standalone loan book grew 14% to ₹4.8 lakh crore, landing within the latest guided range.