Full Year 2021 LIC Housing Finance Ltd Earnings Call Hosted by Axis Capital Holdings Ltd

Palm, welcome to l i c. Housing Finance Q4 FY, 21 earnings conference call. Please stay online. Your contract will be in shock. You suck welcome to l. I c. Housing Finance, Q45 fly, 21 earnings conference call. Please stay online. Your conference will be your conference is being recorded. Good morning, ladies and gentlemen, I am bharti moderate. Yep.

The conference call.

Welcome to l, i c Housing Finance limited Q4 FY, 21 earnings conference call. As a reminder. All participants will be in listen-only mode and there will be an opportunity for you to ask questions. After the presentation. Concludes, should you need assistance during the conference call please signal an operator by pressing star then zero on your touchtone. Telephone, please note, this conference is recorded I would like to handle the flow. Do mr. Praveen agrawal of axis Capital limited, thank you and over to you sir. Thank you Becky. Hello everyone and welcome to this earning call. Today we have with us mr. Why we should not got MD & CEO of l, i c housing and mr. CFO to take us to the results page request. Mister God to give us the key highlights of the results post, which will open the floor for Q&A. What do you mister guard?

Thank you. Thank you for being thank you, sir. Very good about every 1 of you and I also welcome to the first earnings conference call of energy Housing Finance limited. As you are aware, 6 to 4:21 results yesterday before beginning, I wish you and your near and dear ones, good, health and safety. I also actually found the team about it for the current quarter protected, get vaccinated prior to detailing the operational aspects and numbers for the quarter. I would like to highlight thousand, strong surge in recovery from the effects of the pandemic, and ensuring lock down, which was witnessed in Q3 and more specifically in Q4 of 521. You said come on the edge of significant by and seeing the economic activity doing that. And that elevated folks of sustained recovery including in housing and real estate.

Since April, however, the situation changed rapidly with the emergence of second, wave of the pandemic with loved down and restrictions being imposed across various part of the country plunging recovery again into uncertainty. The graph of recovery will continue to hinge on the face of vaccinations and containment our prevention of future Resurgence of the front of me.

The order under review that is Q4 FY, twenty 1 has been the best for the company with disbursements improving month. After month, for the month, we are recorded 97% growth in disbursements the highest ever. In the recent actually several years with the individual home loan, segment regarding hundred and 14% growth here on Thursday, what was the disbursements was almost uniformly, spread across the country, in all the regions with the affordable housing accounting, for more than 34% share in this person, that's lending rates continued to be benign and incentives, like reductions, also aided in improving the buyer sentiments.

The financial highlights for the call.

Are as follows. Total revenue from operations.

I was trying to go to 32003 Crows Nest to lack 10,500 across as on 31st March, twenty twenty years out of which individual home loan portfolio. So that 1 lakh, 80065 cross..1 leg, 61,000, 8:40 to close it is up by 5%. We are witnessing a steady Improvement in asset growth, every quarter for the past, 2 quarters.

Total displacement for the quarterback..22,000.11,000.3:20.3:20 out of that faith in the individual Home Loans 19010 cross. As again, it's 877-442-4520 with a growth rate of 145% business. And that category continue to remain strong, it nearly 34% of retail disbursements coming. In this category, our mobile app or me which is already across a million downloads, have really helped us got a new loan applications of over 2,200 froze during the year off the net interest income front.

Yeah, my I was $1,505 for the quarter as against 11:30, 4 crores in Q4 FY. Twenty with the growth of 33% net interest margin for the whole point..6 6 I have a name is 2.17 As on 24520 profit after tax for the quarter, stood at 398.51 and 21.43 for the same. Previous year for the full layer 384 that 2074 or 2004 not 1084.420 regarding growth of 14%.

I want a board also recommended a dividend of 425%.

I think the quality is an area of highest priority subsequent to the marketing of the state. By the Supreme Court recognized, The NPS very stringently, which are resulted in a sharp uptick in the state's office. Any this has been an unprecedented situation which has yet to the DraStic increase in the npf intermittent. Drop down on the stoppage of activities economic activities. During the year off, due to the current debate, we have set up a task force.

All operating levels, ensure that there is an active follow of all these accounts. In terms of asset quality, the space 3 exposures. Our default it should at 4.12% as against, 2.86% as I'm Thirty-One twenty in the past year, we had increase the provisions, actually taking the total project as on 31st March 2021 to 3071.4 to close it. Reflects approaching cover up 42%. This includes 524 COVID-19 with nearly died for itself, including necessary impairment reserve for affecting one-time restructuring under deadlines.

We have any.

Very closely focusing on the collection efficiency and it continues that around 98%, from all the regular bar hours on the funding side. We have witnessed a significant reduction in overall costs by 30 basis points, getting 245.21 and 115 basis points during the entire year of 521.

Incremental cost of funds has also come down significantly and it should have 5.15% for the quartet, net interest margin for the quarter so that 2.66 as again is 2.1 - 10/4 of 2020. The funding environment and liquidity conditions remain quite favorable for the company for the full year, the incremental cost of funds, A 15.6 to fully her name was stable at 2.37% during the quarter. We successfully raised 800 crore entire 2 bonds towards the capital position.

Project has also been a processing quite rapidly and some projects especially in the area of CRM videos video. I already took it out earlier interactions we believe after completion of the project in about one-and-a-half years time from now that company will be digitally transferred me about highest level amongst the best among the entire class in Industry, which is brief introduction. I would like to invite you for your inquiries. Thank you.

Thank you, sir.

Ladies and gentlemen, we will now begin the question-and-answer session. If you have a question, please press star and 1 on your telephone keypad and wait for your turn. To ask the question. If you'd like to withdraw your request, you may do so by pressing star and 1 again.

ladies and gentlemen, if you have a question, please press star and 1 on your telephone keypad,

The first question comes from, from ICICI Securities, please go ahead.

Yeah, I said, how are you and your end. How much is coming in from the retail side? And how much is coming in from the cost. So what is the outstanding number? Now, in terms of GNP and power off,

NPS, the bifurcation you wanted from Life in queue for the Q4, are you want for the holiest wage as of March? What happened? If you look at the, what do you call the entire portfolio in that from the

What was it? It is around 1.8%.

Honda not housing individual, maybe comes around 5.82% and then project it comes to 18%.

Individual House 1..89 1.89% off comes to overall it, come to 4.0.1 a.m. Mountain so. And what about that there is a restructuring of 2430. No overlap between the restructure and the uh and number of phone number in the project. Right now this will be like similar to the eighteen. Plus 15% off. Yes, there are up-to-date. They're not a problem. Ma'am.

No, numbers are in state 1, that that the provisioning was not getting reflected towards the research that account. So, is it the impairment allowance which has been taken from the network box actually Kunal the way it is to be done. Is that for the OT, our accounts, there has to be a separate separate provisioning for impairment results.

And that has also been provided out of pnn, that is not taken out the reserves. So, whatever incremental provisioning you are seeing in fourth-quarter, that is almost 9 hundred and eighty or cross.

I'm doing that are related provisioning which is required for the creation of impairment. Reserve is also included.

Okay but that that is why provisioning figure out like to park off stage 1 and maybe provisioning would be there. But when we are showing this ecl representation in this slide, it is not included within that.

No, it is not included within that but separately, it is that impairment. Reserve is also created out of panel are coming here. Yeah, we do not for 284 will find that number.

Will it be 170? This is over and above that. It is not included in any of the girls at all.

Well in the presentation, what is given in terms of the provisioning hundred and 7 and thirty 7 and 3800 to 8.3084 is over and above it? It is not because kindly again, try to understand that is an impairment reserved. Yeah, yeah, yeah.

Yes I am. I under restructuring. Ah maybe obviously things were like it was quite early at that point in time it came in relatively higher but how are we looking at it now getting into a second wave and what would be the estimated restructuring? Or what would be further said, looking at the collection efficiency?

No, currently has already talked. I mentioned in the letter. Also, to you that we are all having. Now on the regular account, the collection efficiency is more than 90% and there is also every month, we are getting that Collections and going forward our what is called teams are in place specially. Like last year we came across more or less same situation when the moratorium was announced last year. Also, I found what we call task force, like we call Warrior teams. These teams? What happened know? These people actually get in contact with the customers and regular basis and see that accounts are updated regularly, number 1, number 2. Now, what happened? We are almost twelve that are now enable like anything. So I was not with us in the past year, so that is giving us a good result of Elections. Now, people sitting at home can pay, so by using all the methods suddenly there is a good Improvement, even accounts in stage..1, even stage, 2 accounts are so we can be brought into stage 1 with all the dead.

We are sure that from the slippery. May not be so significant. Going forward, like what happened earlier? Yes, maybe they respect and life. Now, under that were also not connected who are eligible for the rules and we are not able to our website. Also a temporary permit is there. So it is a process and anybody can login, then they can offer the restructuring and I agree as you say, some uncertainty that again, we have come now because of the second wave, this time around the impact. Maybe what we feel, maybe lesser than last time.

And further request may also be there because we can totally deny that 1 out here. So that maybe another 1% more or less than a extension of time of the limit of eighteen permitted and all put together, I think up to 1% of the loan that also can be there.

Sarah indication stuff.

Sure, sure, thanks a lot. Yes, thank you.

Thank you, sir. Yes, ma'am. Thank you, sir. If you have a question, please press star and 1 on your telephone keypad, wage to restrict with 1 question in initial wrong. And may join the queue for further questions.

Next question, comes from from Citigroup, please. Go ahead.

Thank you. I just want to stand the highest revisions in the process. So you mentioned, you cannot coming in the provisions of 2017. So that is 1 component and then it will be, it will provision some coverage has increased on State Street and very some states once a month. Is there, a plan going forward to build up the coverage for the in either 3 or 1 plus for this level of coverage. Now disable like

Yeah. Actually the present level of coverage as we have said, it has come on 2 different platforms..1 is, of course, the, the provision required as per the ecl Mandate. So that has been dead. And obviously, the, the stage 3 assets have increased significantly. So, to that extent, the outlet has also increased now over and above this one-time restructuring. The project has to be made out that has to be made out of the p&l account that we are that we have made about close to 3 hundred crores, but that is reflecting an impairment Reserve. So in a way, that is a result though it is a reserve. This is also towards creation of an additional buffer for those accounts.

Which probably you are not counting in the provisioning cover.

Yeah, you can you can look at it for example. These are all standard accounts only if there is to be a concept of standard as its provisioning so somewhere you can relate it to this this impairment wage.

Add the reserved again and we are saying that. It's not a problem. But if you add that emotionally also, that gives that additional buffer,

What these accounts?

What is in terms of the feeling that on the existing straight? There is enough on whatever new structuring happened, obviously that might be, but on the existing there is enough for them. Further, we have also increased the ecl provisioning on stage 1 and also stage 2 and in stage 2, the provisioning cover which has been done. Is not a small. It is it is it is I would say very high but it is fairly good.

Slipping into States has been taken care of, adequately current water. So with that, I think further slippage in the state, maybe they should be protected with the variable providing so far, but failed to itself. And then you mentioned that Thursday, I have I've seen more than 19% collection.

It wasn't me.

That's the match figure. Yeah, yep. It's a year about ninety-eight.

Okay. And would that, how would that look across the individual?

For the regular account, there is more or less consistent.

Thank you sir. Thank you. Next question, comes from from Bank of America, please go ahead.

Thank you for holding this for the opportunity. First question about the engagement Reserve 204. Do we have some other? This is the total amount on the sitting on the couch and this is the first instance, right? Is understanding correct that the regulation for creation of an impairment deserves come only in India, if I twenty-one

Okay, okay, I do that. That concept was not there.

Okay. And this is beyond the balance sheet that is also correct. That is a reserve. This is a provision that is a reserve.

Okay, understood. Okay. Second we can you talk about the capital raised? Now you've already raised 800 roads and if it is preferential allotment how long how long is the capital adequacy and given that the growth is coming in a big way? Do you think need for another Capital raised over the next 6 to twelve months? How should we look at that moment?

As it is. Now if you look at the other day or board has approved for the capital infusion by or promoted with almost all our bases to shares of a point 5 crores, really? This will do a lot of what you call ample scope for us to further expand. And also to what you call, it's all our operations better off. So, even last year also, if you look at we raised lot of Articles to Capital also

You see it also going forward. Suddenly whenever possible certainly will look into the capital actually have 2 Capital equations obviously took so we have raised about 800,000 to 4 and we also we raised about thousand so 1800 close up here to your place. Now in The Current financial year, as you are aware, the phone number is infusing about 4 and a half years, whatever it translates to, in terms of the city formula and all that pricing, I'm not getting into it. But this, this should this substantial address, the capital requirement to and further requirement of capital looking at Future growth expectation. Obviously the board will take a decision at the appropriate time. The way they do it this time. Also

And how much for the score 48 pick up the details with a buffer? We can still utilize in this year.

So, that is the Headroom is significantly. There is significant Headroom for that.

Okay, so we can still smoke in the coming. I mean, you can say it's almost like on tap, we can go, there is significant issue.

There is no limit forty..2 basically. Okay. And can you talk about displacement and we hear you know obviously there was a lot of disruption May provide will be helpful in a similar situation. Was there more or less in q12 but after 2 to what I have to do is certainly need recovered and then 2.3, Q4 give good results. So more or less the same sort of bounced back with more influence in my life. Maybe get this here who have seen. So once the situation becomes stable I think more or less it will be a lot of pent-up demand is there again across all the regions even in the guide to type 3. Good demand bought that suddenly we're very much positive and then challenges are there. But operations are more than that. What is she in fact in current year April and May, as far as the reality is concerned, we have

Already crossed the last year, few, 1 this person, of course, last year to 1 numbers itself was depressed but certainly the the upside is very much visible.

Understood, thank you very much.

Thank you, sir. Next question comes from from Lewisville, please. Go ahead.

No sir. Thank you for taking my question on my question of knowledge that I mean until March and only walk in kind of. So, I mean, the second wave and and, and, and certain log towns across the country. Then, I mean, when we kind of the quote, our March numbers I had there been such a huge job deterioration in quality and I mean if I just kind of kind of try to add up some of the retail and the numbers that you shared earlier in the call and see if there has been home with the 320, the rules inflexibility of project or the developer. Can you give some some qualitative around? Has there been a lumpy exposure with that kind of Faith? Or I mean, which are which are some of those developers we have been shipped in the, in the cold water and why you got the note restructure and

And my car is on, on your retail, on the individual book. I see incremental GMT about 3,300 crawls. I mean, where is it coming from? What are these kind of customer? Have not been able to repay and, and what really change in in that can too much power is my first question,

Yeah, but if you look at it between December and March, that is for actually the increase in gnpa on the project side has been not very significant. It is, it is around, say 300. Groves.

It was on December 4th December to March, the increases be around 300. Closed on the on the Builder loan side other accounts. Yeah. How long will the entire issue as on December for the project, 1 was around 16%. Now it is 18% and the book has almost remains static.

So any, any any, any particular project for any particular developer, which was which kind of slipped or how many project 360 they were made available actually, what would the time going on? Even all the all the benefit, like all things, what they do last year. So wherever they are fitting into he's already who can be given the benefit was given. So with that I think project in the developer segment I think almost all that is taken care in the true for suddenly the what you call them off immediately with the lies, whatever. Exactly is meant for accordingly treatment is given in provisioning details. Segment is concerned.

I mean I mean kind of confused at the time there was a supreme court dispensation and and and except we're actually not marked at Birth. He will not really providing more the last and only after they have been and we have gone ahead and and made the requisite Provisions during the quarter.

I would I wouldn't say that way if you look at last year also progressively was there was a provisioning made of course, the exact impact of it should not have been anticipated earlier because we were getting intermittent payments from these accounts. It is not that accounts were not received, payment was not being received intermittent off collections were happening from those accounts. But, but technically, if you go by the definition of m. Obviously, when the Supreme Court stay was in effect,

Then obviously they there was a standstill and even after after it was removed, even if it has fallen slipped over by even 1 day, it has to be qualified as a n. I am actually they have most of them would have slipped from days to the stage. See that was also.

Okay. I mean just 1 last question here. I mean, why is our policy especially the coverage that you maintain on stage once a month? I mean, I remember until last used to say that whatever Provisions that we have made on our stage 1 and Stage to a said they are adequate and suddenly this photo I mean we feel and I kind of improve the provision coverage ratio while I mean it kind of acknowledge some time back that I mean this affects it's a sitting in stage 1, they have been, they already have a bath provision Reserve. So I'm assuming this incremental, stage 1 and Stage to provision that we have done in the quarter has nothing to do with restructuring efforts.

no no, this is this is

Clearer different matter altogether. See what has happened in the last 1 year is that. We also had to look at the valuation of the underlying assets. And we have conducted a very extensive evaluation and evaluation of the lung cancer. And on the side of caution, wherever we felt that even there is a marginal decline in the value of assets, we have gone ahead and made a provision that is on the side of conservatism. That is the reason why you are saying the stage 1 stage to ecl provisioning being included, because we have conducted a revaluation of all the underlying assets in the context of COVID-19. Now, it is very much possible that after the COVID-19,

What do we unlock both conservative side with the management? Thought that it is prudent to do a comprehensive evaluation of the properties? Wherever we felt that there could be a reduction in property prices of property values or security value, and we have gone ahead and made a provisioning adding on the side of conservatism.

Okay. Okay. Okay, that's what is the Quantum of that kind of maturity. And when you get here again, I mean, the reason I'm asking is why we have demonstrated about the 25th expansion in spirit in apple 21, just trying to understand. I mean, what is the Quantum of liability is itself, potentially get reprised and to that page and what is the proportion of uh side which will the price at lower interest rate and and where to be see this thread stabilizing is dead.

Yes, I was being coming up for Redemption. Not replacing Redemption is about 25,000.28,000 close. During the entire Financial, some of it has all the 1 of the books in that task to work.

And, and obviously the assets are mostly predominantly on the floating-rate side.

Okay, so large part of the bank has already been replaced already already. Obviously I mean has matters stand now probably it looks like they may not be further reduction in interest rates in the in the economy as matters stand now of course situation is a very Dynamic thing so situation may keep on changing. Thank you so much and have a great day. Thank you, thank you. Thank you very much. Thank you. Ladies and gentlemen if you have a question please press pause participant or kindly requested to restrict with 2 questions in the initial room and may join the queue for further questions.

Next question comes from fire and Engineers from clsa. Please go ahead.

Yeah.

Most of my questions. Are you sending in after the fact?

Can you please repeat your voices? Not very clear if you can see closer to the Mike. Am I audible? Now my question was that, you know what percentage of our loan come from Maharashtra? And now given that the stamp Duty cut is over? What sort of growth do we foresee? Let's say, not in the next 3 months, but after the fact it was over last year actually, I'll tell you her whole year, we had a very good. What do you call share from around? I think more than 15% around. We got off duty ever. Also really helped a lot. That was what you call from am looking forward. Now, for the current year, also, we expect supposing even without Sam. It's also what happened of pent-up demand suddenly. We'll be there and wage.

What What In the quarters to come like last time you are even better than last time is certainly 1 of the figures or 1 of the sweeteners. But more importantly, if you look at the affordability index, in terms of stable property, price and low interest rates, those situations still remain today.

Okay.

Okay, so my next questions on the asset-quality bit, now half of our Builder and you know are under the Swami fun. I recall last week I mentioned it was about fourteen hundred crores. Now what is the progress there? Because I believe a few projects have been completed and you know, the keys handed over to the home buyers. So why aren't we seeing a recovery is on that front for us.

Once I do only 5.5, I think we got 2 hour to call back. It over last year itself. So I think that equation tall naturally is a due process might be in the process. Actually, the process is that first of all, a large number of projects have been sixty-five and slowly, they are taking the NOC and all that process takes a bit of time. But Swami small refund doesn't guarantee immediate upgrade Swami fund is only a last-mile funding, which helps to recommence, and restart the project and that has already started. As I mentioned in total, 5 accounts. We have the the the the those entities this bill does have received the last mile funding from that uh, that Swami fund, which is managed by the gaps so that types of cases. Yeah.

No, and out of that, free MP3 has started or something. So, you know,

Construction is again, resumed. You started getting collection of those 5 have started being you back. Is that the right way to think about it? But they're still also that the collection at the bank..1 sided, is this project has started?

Yes, just happened some sequences. Back of the guidelines are there now, because how do we get those things of this month?

Okay, and the last questions for it's a bit technical, but you know what are the fee and commission expenses in the fourth quarter, that was almost equal to 20 levels.

I had about 55 just in this quarter last last full year, it was only, I got your, I got your queries. There has been some kind of a one-off addition. I think it is better to look at on a full year basis rather than a quarterly basis. So in this Q, 1 there has been, I would say rewriting of a portfolio of retail loans off, with some entity for which we have collected, some one-time fees.

Yeah, they spoke on a full year basis. You should see that should be comparable to the disbursement code.

No, this is expensive that we pay income.

No, I'm talking about. Yeah, that is because of the fact,

That is what I wish.

I want to see what happens, is that whenever there is a, there is a closure of a loan or there is a variety of a loan for a lower rate of interest in whatever you have collected as a fee. For those accounts, you know, still have to be recalibrated and that has to be taken in the expense column to reflector based computation. This is mostly because of the fact, this adjustments,

Okay, so sad to say that a lot higher proportion of if I just think about the factory, like, our balance off than it was the last year know have been hired.

Okay, thank you. That's awesome. Thank you. Thank you, thank you. Next question. Comes from Nissan song from Acura India. Please go ahead.

Western Nissan, please go to the questions. Yeah. Sorry, hello, yes, yes, yes, thanks. Thanks for the opportunity. When 1 quick clarification, what you mentioned in the previous question was that 5 of the Swami find projects have been approved, but there are still overall about 10 or twelve project pipeline pipeline. Okay, so so so the total amount is about $1,400 but those are yet to go through the due diligence process. Any 1 of the cases, the the Builder has opted out of the solid because now he's more comfortable with servicing it into himself, only

Okay, perfect.

Like, for example, if he was also offered so he said he has opted for the easiest route rather than go for a Swami fun group mom, got it. So, yeah, so now I have a couple of questions. So first on the provisioning requirement, so we have about 2% or 1.59% of Home Loans, like retail home loan, npl. So I understand these are like, you know, very low ticket granular homes which like, low-tech, slow LTD. What is the LG that we build when we calculate the ACL for these products? Should it be like like a single-digit percentage? Because the overall, uh, stage 3 packs that we hold is about 40%. So, I'm just curious. What? What, uh, Los given default goes into the calculation of the home loan component of these MPS. Yep.

Tenth of the of the portfolio. In terms of lgta, both PD and certainly much lesser than that of the, uh, builder of the corporate accounts e, correct possible to quantify. Should it be like, say, hypothetically less than 10%?

You are talking of the individual individual Home Loans. Yes. Yeah. So basically the employees kind of approval coverage on the developer loans is probably significantly higher than 40% and the uh coverage on basically the Home Loans is less than 10%, correct interpretation here, right of the page. Exactly. Because there are other things also which are which are there in terms of say the value of security etcetera. Later also, what also built into the ecl model home? Okay, understood. Okay. What was essentially trying to understand was that?

When we think about it, logically logically, the, the LG re for retail account, will be lower than a corporate, or indirect impact the logical explanation, and which is, which is fitted into the model, but there it is not only the LG TV, it matters because there is also a play of the value of security, which varies from account the account off. Okay, perfect. Okay. And the second question is on growth, we've seen like very strong, probably helped a little bit of time to take outs in Maharashtra and Karnataka but now already like almost 3 months like okay 2 and 1/2 months into 1 Q could you like you know tell us probably some of the wage disbursements strength has kind of sustained or has been has there been some bit of like tapering down after the very very strong kind of 4 Q which had some bit of like fronting of growth. Yep.

Other things like looking like in the last 2 and half months after sustaining. The, that's the question.

Thank you for was really was the best in the last several years of the company cooked you for concerned. What do you call now in the current year, especially after the, this pandemic second wage invalid, me if you look at last year, was not that much already. We had crossed. The only thing is now going forward on a good thing about lost last year and then afterwards from the situation slightly improved, we are very positive. That there will be a good choice. No rebounds. That's what volumes are concerned, especially in the cities and affordable statements. And also now the favorable Factory, the fact that the latest interests are very, very low on the Lower East Side and then most of the house are also affordable. So with this, I'm very clear that I think going forward. We may seem

Currently, if you look at the what you call, of course, last year.

The same sort of rebounds this year olds.

Okay. Is there any visibility to be able to give like a growth guidance in terms of like 15% by the end of the year kind of possible? In terms of, we certainly will keep up more or less money last time. It will be in double-digit, certainly will be there at the top.

Okay. Okay, perfect. I have a few more questions. I'll come back and thank you. Thanks.

Thank you. Thank you, sir. Next question comes from.

Yeah. Actually, I had 2 questions first, is on the first question, where do you reply to keep you just absolute fact or for the individual and individual home loan completely, the absolute amount for the fourth quarter and supporter because the numbers are not able to reconcile when I and multiply, that would be booked. So if you could do the, absolute numbers numbers will not be because we will be slightly different. There will be minor variation. But what numbers are given that song again?

They still number, if you are trying to find out from the ecl from the index page, the numbers kindly note down quickly. So the project will be around 18%, which will be a little less than 3000.

Yep, you have got the individual Home Loans which is about 1.9% or thereabouts, it will be around $3,400 to $3,500 and then for the other categories it'll be the total will be about another 3, 3 thousand crores. Okay, that is the total 9000 Plus Package other as well, sir. Yes, I don't know how the individual corporate cetera. What from the project club soda 3971, includes all sort of proving, right? It doesn't exclude any provisioning that you talked about, which is not in the 3931. Am I correct in my understanding or there is something let us kindly understand what you mean, like all provisioning.

I'm not going to call today is not part in the calculation, which we are missing. So the 3931 which is the easy including that includes all forms of proving whether it is on environment or COVID-19, excessive, or would you if you put everything right 3970 know, I'm telling you, if you are again confusing provisioning with reserves impairment Reserve is not a provision.

Okay.

Okay, fine, I have already clarified in 1 of the earlier. I'll connect Offline that the final thing. Just on going forward business. Uh, how are the thinking about, you know, like I mean if you look at the dictionary in the last 3 years, we've seen consistent increase in individual as well as according to select club outside our performance. Gradually sort of the Delta different has been much higher than the industry and even some of the other privateers, just how do we think going forward, which is uh, this Gap. Well, what will make the Gap compressed back to where we are? You know, like 3, 2017. We're or performance was in line with the industry. What's required test?

NPS huh. Okay, what happened now? Individual house in our home, we do hosting low and then as far as the recovery Madison concern in this group, our teams are actually last year. Also, we have put the teams, I like em. I told these people get in touch with the club and ensure updation quite often very frequently. And we also enabled this time what is the email the Hyundai and collection service enabled? So with all these things, we see that I think there may not be much of a significant uh actually downside. As far as the recovery matters are concerned and the versions. Also, what were made now, more or less will be taken care, not a problem. You an additional would impact as we have put some kind of course into that.

Okay, sir. Okay. Thank you.

Thank you, sir. Next question comes from Vivek ramakrishnan from

Good, thank you for my question. It follows the, the questions at least in terms of your detail, are you seeing part payments by customers and so on, you know, God let me actually see that. You know, they're lagging behind and taking some temporary difficulty with a little chilly come through. That's the first question. And secondly, you ask the question about recovery, but just going back to underwriting, it's all customer segments, relatively weaker inserted going through stress and they'll recover in a matter of time. Estimate 2 questions, sir, thank you.

So first question, what you are mentioning about what is it, you know, even if they're off on making payments and so on, which is seen what happened with money or Recall. Now, of course, what you are, whatever possible you could away last year, was after what happened people made for jobs and even in India housing loans, also, what happened? There is a good update as far as the connection, efficiency is concerned, and even from the regular account. Now I'm telling you, even current Trend also around more than 90% off. So that way, we see that they become almost regular in the due course when the Frantic unlocking handle used out.

Those guys are these accounts and these boards were repaying till before the pandemic.

Obviously, the pandemic is something that, you know, was obviously unfortunate unprecedented, so they could have been some impact of it.

But still before that, there are all people who are regularly servicing, okay, that answers my question, thank you very much and good luck. Thank you. Thank you.

Thank you, sir.

Next question, comes from victim subramanyan from spark Capital. Please go ahead.

Hi. So I just question on the reboot for you. What would be the quantum right now? The lease until discounting, and how is the asset-quality behaving this?

State approximately $8,000.

That is the portfolio amount of mental illness, and how is the quality of having the answer in terms of GNP

About 3 to 4 percent is the GNP a they're also work to be mentioned in the previous call. Is that there is a delay in the sentence, it is not that it is completely stopped, but it is coming. It has may have been set flight delays in the rentals.

Okay. Okay, got it. And this 1 clarification, I'm sorry, I might have missed a bit on the Implement reserve. The impairment Reserve that we have created that does not. That does not flow through the p&l, right? So the 985 again, I'm telling you, I think 2.3 times I've already clarified, that is flowing through the, which is reflected in this Q4. So so the 1985 gross will include the amount that we need Provisions that we have shown in the Panhandle that will include the impairment as well.

Okay, because if I remember in the RV guidelines that came out last year, I don't, the impairment Reserve was to be carved out of the reception Surplus in the balance sheet, which is why I just wanted to clarify it. There is no attribution. This is meant for only what you call now only for a specific purpose. It is dead. Okay, okay. So it does flow through the credit cost includes okay. That clarifies may. Thanks. Thank you. Thank you, sir.

Next question comes from from investec, India. Please go ahead on housing is dead higher percent. So, how do we think about growth in this segment? And if I remember correctly, historically, we have been saying that this segment has very high chair of Sunday Sunday to Thursday, particular reason that the interior in this segment is higher for us.

This is this actually portfolio. Total portfolio is received this segment, not that much, maybe not even now. See individual segments all put together smoke, maybe, not even Thirty, to forty percent.

In the portfolio, but the way. What is now after the pandemic, I agree, there may be some sort of what-do-you-call-it pages, especially in big cities are also dead. So keeping all these things into account now we have also actual values. What is called? Revaluation got done. For all the the end of this March also programming has been made for all these things checked in in the sector growth in this segment. What, what is the strategy going forward? The, what happened, you know, as far as that is concerned. Normally our focus is mostly on the individual house. Actually, they're losing signal only and as far as what it was disappointment, our portfolio, very, very less and moreover growth. Also, we don't have much as wage also, within 10% growth, only not much around 3,000, and I think

Explorer that we mentioned that 1 of the accounts, it's likely to get resolved in 3/4. So if you can, just give us some status on this 3070. What are the 3? 4 major accounts and wage is the resolution expected, uh, in coming financially at how many of these accounts you expect to that resolved in a 5:22 a.m. or some other reason because sudden month of March and all, these are some C and all happened. So all the account there are so closely monitoring. I think now, I think logical. And it may take more time early in the in the next quarter. Like the $10 so many other folks are there, whatever the legal position is has to continue on the same time. Also, I think in the near future we don't have any ideas actually get over really fast. Yep.

Does the funds that we have but that's 1 that we have raised in a in Q4 FY 2121 what was the share of c t and Market bombings and bank loans in that incremental funding? Yeah incremental. We have reached about 27,000 km which has 3,500.4060 and NCD

Sure, thank you for thank you.

Thank you to the next question. Comes from the car from edel Weiss. Please go ahead.

Yeah, that's let me see if I have a problem with that. We've been talking about stage 1. So what explains the 655hp that plus? And if you could give you your space to competition, in terms of how much of that and individual

Can you please repeat not very often. It's important explains. The space to walk around certain toward levels. And if we could give you a station composition in form of developer, an individual,

The earlier of it's not that have come. Now earlier also, there was a place to account, for example, now the stage 2 accounts in the lounge around 4.9% approximately and for the overall will be say around 6%.

But so this sort of station 1 by this number. Because what we have seen earlier, that probably December over the wrong. Number has been there. Only way to the pandemic. Also, if you see the stage to have been in the range of 4 to 5%,

Just let me complete. If you see prior to the pandemic, maybe 1 and 1/2 years of 6 quarters back. If you see the stage stage, they would have been around 2 point 5 or thereabouts. Stage 2 would have been between 4 to 5 % and balance about ninety-one. Ninety-two percent would have been in stage 1 month. I think just the age to wife, you see, more or less in that ballpark range. Sometimes, sometimes it is in fact, I think 1 quarterback, it was closer to 7 a.m.

This is Bradley the number that we could expect around 46% of the numbers that we can do this month. Okay, England, last a little bit for me that number be same. As of now, the house has decreased

No developer book I think is not okay. Now, what happened know, whatever, and then develop a month or less over in around 10 to fifteen percent.

Okay. Okay, and just 1 more question, just took the MPS equality performance and I look at industry and new remotes giving the customer segments and the ticket that we operate

Yep.

For the lean forward. We are very much hopeful and also positive that because vaccination, then again what you call this evening out of locking and unlocking all going on big way. I think there will be good turn around in the afterwards that we are able to foresee, I think. Now, the pent-up demand also will be there in addition to that low rate of what you call this loan, interest rates are very low wage. Then, again, affordable prices are there with all these things were very hopeful that there will be good demand actually, as far, as this, our discussions are concerned, then, regarded recovery solve, that happened already talked to some of your people that we are having very good vertical mechanism. A group of teams are there, working out all levels. This 1 year teams, what happened? They get in touch with the customer and then you should see that. The accounts are updated quite often. So that what happened? They don't sleep into a stage to our safety. And then what happened? Now, even otr2 also is another instrument given. So this all dead,

Made best use of all those who are eligible. So with that suddenly, there will be very good vertical recovery in the days to come that. What we see.

Just continue to talk about any possible way that they decided to start with. So we may talk about recovery when you talk about the fact that it could not happen in the future. But why has this happened is is the Genesis of this. I'm the second part in terms of what was to come in any time. Let me what you are 1 really almost 1.5 goes to 1.5% of our book was almost under the year 1 moment, put together. Now, I think 6 people may even the maximum loan is not operate in that segment very well. So how soon will go for extension of term as far as these what you call log?

Then what would I what do you call another? Maybe 1% more may have to that actually going by all these what you call our earlier, past experience another 1% of the month. May I do, that recall is what you have to

Okay. And then I'm a person that why is this is higher in terms of Faith? No, bit louder. Pays off. What happens with that. I am just asking guide. This is happening in terms of our days of quality being most of them leads to go home line, segments of the industry needs to be, may have a recovery email that it will not happen in future. But what exactly has panned out till date, that they sort of evidence has been reported, these are the same industry given the customer. Can always start. We focus on

Know, if you see in the last year, what happened?

Good evening was made only because our last quarter was, we had to make potion because of the what you call Supreme Court also was there a need to reconsider all the loans at the appropriate. What you call? Classification was made for that. Do do what do you call the amount of June for that? That's why in the future or actually generally the closing is gone wrong number 1. Number 2, if you look at the developer loan, I'll get that taken care of. So, if that now looking forward, even from here, I think they're not as much of the significant wage. What do you call? There's not that much of worried as far as we affect the quality is concerned going for.

Thank you so much. Thank you.

Thank you very much, sir.

Ladies and gentlemen, due to time constraints, that would be the last question for the day. Now, I handle the flow to the management for closing comments.

I thank all the participants, really to 4. And also last year fully what you call if you look at the whole life last year in terms of disbursement that is very good here. Then again going forward. Also we look very positive as far as volumes are confirming disbursements then after the quality will certainly be improved. There will be a lot of scope in that 1 and we are also actually our teams are working for that and then the capital infusion and all these things certainly will give a lot of scope to what you call to operate better and also what do you call them to have better leverage and then this year we would like to actually consult it ourselves and then further what you call strengthen our all the ratios what are are now. You are now focusing suddenly the the Improvement in all the operating ratios, 1 Improvement will be there. Then our digital transformation also will certainly give us a lot of Edition value Edition going forward. In terms of customers.

Satisfaction. And also that all other matters are concerned. And then this year actually 19th of June this month is the foundation day of or less. So, on this application, I will also expect everyone of you and once again rededicate ourselves, our team members and all in all of us will rededicate once again to our customers and ensure that our company that will be having very good brand value in the market again. Thank you.

Thank you, sir.

Thank you, everyone. Ladies and gentlemen, this concludes your conference for today. Thank you for your participation. Thank you, and have a great day. Thank you, sir.

Your conference is no longer being recorded.