• AUM growth target: The company maintained its 18% AUM growth guidance, supported by projected 15% to 18% growth across passenger and commercial vehicle segments alongside gold loans.
• Net interest margins: Margins expanded year-on-year from 8.25% to 8.61% due to reduced balance sheet liquidity and lower incremental borrowing costs of 7.2%, with future rating upgrade benefits set to be partly shared with customers.
• MUFG stake status: Management confirmed that there are no active talks or near-term plans regarding an additional stake sale to MUFG beyond the initial 20% tranche, nor any discussions to revise the open offer price.
• Return on equity: ROE is projected to temporarily drop to around 12% following recent equity infusion before scaling back toward 16% over time, while credit costs are targeted to remain at current optimal levels.