IDFC First Bank Limited

1. Retail loan book growth led by home loans
2. RoA at 1.1%. RoE > 10%. Karan Arjun aa gaye?
3. Credit Costs at ~1.2% quarterly annualized) much lower than < 1.5% guidance so far
4. Infra book is now only 4% of assets
5. PCR is strong at 83%
6. One thing to remember: the 3% GNPA includes a large toll road which though technically NPA is paying (NPA was due to covid time 0 traffic). This will further improve significantly to be ~2% after dues payments sometime in FY24 IMO.

Disc: Invested, biased