IDFC First Bank Limited

It can take years for a business to show true colours ; When IDFC merged with capital first , nobody knew that so much of write off / provision had to be made of erstwhile loans given by idfc ; In that context and to make the retail oriented bank , VV has done a reasonably good job

There are numerous examples where many blue chip companies have remained underperformed for 4-5-6 years and suddenly in a matter of 1-2 years they cover up ; few examples

1. Reliance – Underperforned for almost 10 years , from 2008-18

2. Sun pharma / Lupin -2017-2022

3. ITC – 2017-2022

4. HUL – 2001-2008

I can IDFC laying some very foundations

1. No 1 banking app in Banking , features in top 15 banking app globally

2. Its coming out very strongly as retail first bank with great app , no transaction fees , good interest on savings etc

3. Created a very good brand in the market ; scaling presence in start up

Even though I am invested from last 5 years without too much of luck , I think next 5 years would be good for this bank ; it will test the patience for an investor , that’s for sure but at currency price it offers a good risk reward