My own sense is VV is conservative but will over deliver . Listen to the last 10 mins of Q3 concall where he has clarified he does not want to get ahead of time and raise capital every now and then ; instead wants to use cash accruals to fuel growth and hence moderating advances to only 8k -9k every quarter thereby managing capital as well as ROA / ROE appropriately and yet grow at 25 % This in my view is a very value accretive model for a very long term . I believe he will overdeliver on all parameters of his strategy except perhaps C/ I ratio where the cost exhaustion will taper down slowly owing to branch expansion .
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