Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
PTC India Financial Services Ltd (NSE: PFS) Q4 2026 Earnings Call dated May. 05, 2026
Corporate Participants:
Priya Chaudhary — Head, Investor Relations
Dilip Srivastava — Director, Finance and Chief Financial Officer
Sanjeev Kumar — Whole Time Director, Operations
Analysts:
Chintan Mehta — Analyst
Unidentified Participant
Unidentified Participant
Unidentified Participant
Vishal Mehta — Analyst
Unidentified Participant
Presentation:
Operator
Ladies and Gentlemen, good day and welcome to the Q4 and annual FY26 conference call hosted by PTC India Financial Service Limited. As a reminder, all participant line will be in the listen only mode and there will be an opportunity for you to ask question after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Star then zero on your touchstone phone. I now hand the conference over to Ms. Priya Chowdhury from PTC Financials. Thank you and over to you Priya.
Priya Chaudhary — Head, Investor Relations
Thank you. Good evening everyone and welcome to the Q4 and FY26 Investor Call for a discussion on the fourth quarter and annual financial results of PTC India Financials Limited. I am Priya Chowdhury, Head Investor Relations at PFS. FY26 has been a year of measured and evolving progress. PFS has navigated a phase of transition marked by changes at the Board and the senior management level alongside a continued focus on strengthening the balance sheet and improving asset quality with AUM. While it has moderated to 3,292 crores from the peak levels, this is due to a conscious and a calibrated shift towards resolving legacy NPAs and rebuilding a higher quality granular and a more resilient loan book.
There are clear signs of improving operational momentum. Gross Stage 3 has declined significantly from 7111 crores in FY25 to 190 crores in FY26 alongside a strong and a visible pipeline supported by increased disbursements and sanctions. Sanctions stood at 3,448 crores in financial year 26. This is a growth of over 300% year on year compared to 825 crores in financial year 25 while disbursements were at 1,235 crores in financial year 26 which is a growth of 35% year on year compared to 916 crores in financial year 25.
Additionally, Crystal has removed the company’s rating from watch with developing implications and reaffirmed it at CRISIL A A1. Our focus remains firmly on the infrastructure sector, primarily renewable energy, transmission, distribution and other core and and sunshine segments driven by a calibrated risk conscious approach to growth and backed by an experienced execution team. I will now like to introduce the senior management present in today’s call. Mr. Dilip Srivastava, Director Finance and CFO Mr.
Sanjeev Kumar, Director Operations and Mr. Kalu Srinivas, Executive Director, treasury with this, I would now like to hand over the call to our Director of Finance and CFO Mr. Dilip Srivastava for the financial update on the company. Over to you sir.
Dilip Srivastava — Director, Finance and Chief Financial Officer
Thank you Priya. Good evening to all of you. FY26 marked a year of strong financial and operational performance with a path rising to 319 crores from 217 crores in FY25. The total income dipped slightly to 518 crores from 638 crores in the previous year. The company witnessed a sharp acceleration in the business activity with the loan sanctions increasing significantly to 3,448 crores compared to 825 crores in FY25 and disbursement growing to 1,235 crores from 916 crores in the previous year. This growth was accompanied by the enhanced profitability metrics with return on assets annualized improving to 6% from 3.56%, the return on net worth analyzed increasing to 10.95% from the 8.2%.
Net interest margin on the earning portfolio also strengthened to 4.49% from the 4.25% in the FY 2025. Notably, the company achieved a significant improvement in the portfolio quality with grass stage three assets reducing by 73% to 190 crores from 711 crores and net stage three assets declining by 83% to 47 crores from 284 crores in the previous year. The provision coverage ratio for the Stage 3 assets also improved materially to 75% in FY26 from 60% in FY25, underscoring strengthened balance sheet and prudent risk management approach on quarter update.
Q4 FY26 reflected a strong pickup in origination and disbursement activity with disbursement increasing to 162 crores from 50 crores in the Q4FY25 and loan sanctions rising sharply to 1004 crores compared to 100 crores in the corresponding quarter of the previous year. Probability metrics however, moderated during the quarter with return on net worth annualized to 6.24% compared to 8.54% in Q4 FY25 and return on assets analyzed to 3.6% versus 4.02% in the previous year. Additionally, the yield on the earning portfolio softened to 10.29% from 11.27% in Q4 FY25, reflecting evolving portfolio Dynamics and Calibrated Approach to the growth.
Now I hand over to our Director Operation for the further update.
Chintan Mehta — Analyst
Yeah thank you Dilip, thank you Priya for a good setup of tone and good evening everyone. As Priya and Dilip has already given a snapshot of the business activity we have already done on FY26. I’ll be pleased to share an update on the business performance of FY26 and Q4 business performance along with the progress on our scale up initiatives and the way forward. Importantly, our performance and strategic decisions remains fully aligned with what we have consistently articulated over the past few investors calls focused on calibrated growth, diversification and strengthening the overall portfolio quality.
FY26 witnessed a strong uptick in both sanctions and disbursements reaching a three year high. This reflects robust origination momentum and improved execution capabilities achieved with maintaining a disciplined and risk calibrated approach of lending. Sanctions stood at 3448 crore compared to rupees 825 crores in FY25. That is more than three times now and this was rupees 4, 525 crore in FY 2024 while the disbursement were at 1235 crore in comparison to the FY26 916 crore and FY24’s 586 crore.
During the year, 100% of our disbursement were to the private corporate borrowers, reinforcing our strategic shift towards a more diversified and commercially driven portfolio. Our origination engine remains strong with sustained sanction momentum and a healthy pipeline across sectors and products, positioning us well on continued growth. We have also increased our focus on sole and multiple lending structures, thereby strategically reducing reliance on the consortium lending and improving control over credit underwriting and monitoring.
From a sectoral perspective, FY26 saw diversification across renewable discoms, oil and gas, roads, compressed biogas and emerging data center value chain. Our foray into the data center ecosystem, CBG marks Ecosystem and CBG marks a strategic entry into high growth sunshine infrastructure segment aligned with the Indian digital infrastructure expansion. We also made steady progress in building our structured finance portfolio, leveraging our strong relationship base to create tailored financing solutions.
This diversification into the value chain segment is expected to further strengthen portfolio yield over the medium term. On the asset quality front, FY26 witnessed significant improvement with 3 out of 4 gross 4 out of gross stage 3 accounts representing approximately 73% of the total value transition out of stage 3 over the past year. This reflects sustained resolution effort and Strengthening of the balance sheet at the same time prepayments during the year led to a moderation. In aum we have faced huge prepayments but that prepayments are of the low yielding accounts which in function of which is a function of improved asset quality and borrower deleveraging.
Even as disbursement momentum remains strong, so our yield is expected to be improving because the new disbursements are being done for a high yield proposals where the prepayments are being done on low yield proposals. In summary, FY26 has been a year of measured yet decisive progress characterized by strong growth in sanctions and disbursement, continued strategic shift towards private sector lending, increasing portfolio granularity, diversification across sectors including new age infrastructure expansion into new sectors and a meaningful improvement in asset quality.
We believe these efforts had laid a strong foundation for sustained growth and we remain committed to scaling the business with discipline while continuing to deliver long term value for all stakeholders. This is all about the business update. Thank you.
Priya Chaudhary — Head, Investor Relations
We will now open the floor to Q and A please.
Questions and Answers:
Operator
Thank you. May press star and one on the Touchwood telephone. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. Our first question comes from the line of Chintan Mehta from Punishka family office. Please go ahead.
Sanjeev Kumar
Thanks for the opportunity. So I just wanted to know the difference in view such a large difference between our disbursement and sanction meeting last. I think from last six months we have dispersed close to 2000 crore but sanction is not even a 40% or so. So when we are going to get that rate? That’s my first question.
Chintan Mehta
Okay, I think you are talking about the disbursement difference between disbursement and sanctions. Our sanctions stood at 3500 crore almost for this year where the disbursement are 1200 crore max. The reason is you know we are into infrastructure finance segment. Infrastructure finance by their nature only is a is a large financing thing where the project finance is done for the large projects. Projects are executed in the timeline of say one year to three years time for different type of infrastructure projects, longer
Dilip Srivastava
Terminal, longer
Chintan Mehta
Term. So it’s not a back to back disbursement type of thing. Sanctions are done then disbursements are done after as per the constructions after all due diligence regarding legal and technical things. So as the construction progresses the disbursement happens. The sanctions are done at one time and the disbursement happens during the next say 1, 2, 3 years time when the construction Happens and that this is the major reason for this difference between sanctions and disbursements. Had we been having some big pipeline earlier that would have been disbursed here.
But because of certain issues in past that there was no sanction pipeline. So whatever sanction had been done in this year that will that will reflect in the subsequent years as disbursement. This is the nature of infrastructure finance.
Sanjeev Kumar
Okay. So we need to keep aside that money and need to fresh leverage or we are allowed to leverage if we get the new sanction or a new customer work ready to take it immediate front if any. So
Chintan Mehta
Commitments. These commitments of whatever disbursement we are expected to do in next few quarters or something are taken care by our ELCO committee. We take care of of the our asset liability match where the the required disbursement is anticipated and money is kept assigned for that. This is the way finance is done. So sanctions are there. Whichever sanctions are expected to be dispersed in next quarter. The money is there with it with us to be disbursed. So this is the way whenever required we borrow also for that.
Sanjeev Kumar
Okay. Understood. Second sir, now I think our biology sir is resigned. So what we are doing it and what’s the reason for resignation? Secondly earlier he has guided in the setup a vision mission for the next three, four years. Like a yearly disbursement of close to 4,000 crore. Are you on the same path or board is on same path or it’s a CEO’s vision or the board’s vision. And what’s the new agenda now? What’s the timeline we are considering to entering a new CEO on the board.
Dilip Srivastava
It was a company vision not an individual vision. So first of all and AMD has resigned and that information reason for that was his personal reason that has been duly informed to the stock exchange as well that is available in the public as well and existing that process has been initiated by the company for the replacement of the MD because still he is here till 30th of June. So that process has been initiated and whatever this projections and the plan was there that existing management they are working on it and they will put best effort to put the that in the form of result.
Sanjeev Kumar
It’s quite a very short time CEO in and out. So it’s a. What’s the problem at the organization level. It’s a cultural mismatch or a speed mixed between the PFS and PTC or a ministry level mismatch between pfs, PTC and ministry. What is the single agenda why this comes and comes out because at the time of taking such a large leadership we need to ensure that he is the large vision with the association with the organization. Because just company come out from the turmoil. So why that happened and what we are making sure that this will not happen again.
Chintan Mehta
Let me address it. Mr. Balaji has been here for almost two years now. It’s not a just come in and come out. Balaji has been there for two years. He has spent a good time in solving so many issues of the company. Bringing back on track and solving this legacy issues corporate governance issues what we are facing earlier. So he has been there for quite a long time. At the same time personal exigencies and personal requirements you cannot ignore. Balaji has resigned for some of his personal reasons which he has already disclosed on in his designation later also and various platforms of RBI and credit agencies also.
There is nothing as difficult into that. Anybody who has got some other personal requirements, other personal engagements can resign. It’s a normal process in a company. He has worked for two years. So there is nothing more than that should be read into that. That’s all. There is no. There is no involvement of any. Any other things into that that we are. You are trying to read it or some study that it was simple. He. He has got some personal commitment and he left the company for that. That is his decision and we should respect that.
That’s the only thing.
Sanjeev Kumar
Understood sir. Just the last question. On the cost of borrowing side we are at much higher at nine and half or percentage or so despite just one leverage company another competitors are seven, seven and half or much lower than that. So if we have credible promoter who are making us they are also cash rich. We are also low leverage. So any backing can. I mean why such a high cost of borrowing? Because now gross NPAs and all the accounts are now also recent. So what’s the guidance and cost of borrowing to coming down?
Dilip Srivastava
We have been taking up with the lenders right in the b expect that improvements would be there in the cost of borrowing. So our cost of borrowing is not 9.5%. It is lesser than that. And our treasury team has been aggressively chasing up with all the lenders for further reduction in the spread. So we are working on that.
Chintan Mehta
So we just want to add into that you might have witnessed in the last quarter quarter we have reduced our PFS BR also our base rate has also been reduced by 60 basis point. That in fact is a reflection of our reduced cost of fund only. And cost of fund will go further down as we go on Borrowing fresh. Since we have not borrowed anything in last financial year, whatever we have borrowed at the earlier cost, it will remain like that. As soon as we’ll go on repaying that borrowings and we’ll go for a fresh borrowing, we’ll come at lesser cost.
The cost is not such a big problem. We’ll manage that and consistently we’ll see the PFSDR going down in future.
Sanjeev Kumar
Okay. And sir, just last I mean we are maintaining that 4,000 crore yearly disbursement for Fi 27.
Chintan Mehta
That target is yet to be said. The budget is in a process of approval. Our target is not only quantitative, it is qualitative Also it should be a high yielding and it should give a return on asset and return on money deployed also. So our target is not only based on the how much money we lend, how much effectively we are earning out of that. That you might have seen on the business numbers of this number. This year also we have not been very aggressive in disbursing. Just making top lines. Whatever cost, whatever interest rate we are supposed to lend we are onto a completely understood quality portfolio and cost benefit analysis.
We do everything like that. So 4,000 crore was not committed last year. It was a different number this year also. Whatever budget we’ll approve, we will go for that and we’ll achieve that.
Sanjeev Kumar
Okay. Possible to get the number by next quarter. That would be great. Thank you so much, sir.
Chintan Mehta
Thank you so much.
Operator
Thank you. Ladies and gentlemen, anyone who wishes to ask a question Press Star and 1. Our next question comes from the line of Rakesh Sivastava, an individual investor.
Unidentified Participant
Yeah, I would like to know about the dividend this year. Again the dividend has not been announced in the last quarter meeting when the investor meeting I was this question to Mr. Balaji and he told that there is going to be announcement in the last quarter. And in this quarter also there is no announcement of the dividend. Last year also there was no announcement of the dividend. There is a profit in the organization. Why the dividend has not been announced? Since I am India’s or investor and. And I’m invest I am in this share from the last five years.
I believe so. And. And one other thing for me to the is a dividend since profitability was a profitable company and I was expecting dividend from the last two years there is no dividend at all. And I understand there was an issue of the corporate governance two years before and which has been resolved also by Mr. Balaji and the team. And I was expecting that this quarter there Is will be announcement of the dividend number one. Number two question is I understand there is some changing the shareholding of the PTC India.
Now the NTPC is going to be promoter for this PTC India. What will be impact in the PTC India financial for such changes? Thank you.
Dilip Srivastava
Dividend. Actually that money this time we have not declared and will review it in the next quarter. And this part ultimately this is only for the. You know for the increased capital so appreciation and that network. Ultimately it’s a money related to the net worth has been improved the stakeholders only. So that was the one part, second part that PTC, that NTPC and that all the four PSUs, only one PSU will be taken care of. So as of now no impact has come on us. No formal intimation has been given to us on any part on that part.
And we don’t feel that any any adverse impact is there on the PFS for that part.
Operator
Okay,
Dilip Srivastava
Thank you. Thank you so much.
Operator
Thank you. Ladies and gentlemen. Anyone who wishes to ask a question, press star and one on their touchstone telephone. Our next question comes from the line of Chennam Malu Adagodi, an individual investor.
Unidentified Participant
Thank you for this opportunity. My question is regarding fundraising process. Since last five to six quarters you are continuously giving us false assurance that we are raising the fund. And by the end of this quarter we will get the cash in the hand like this. Continuously were giving false assurance to the investors. That was the. That is the reason. Because of inability to raise the fund you are not dispersing more loans. Despite your sanctioning more amount of loans.
Chintan Mehta
Your Your question has got two parts. One is borrowings. Why we are not raising more funds. Take the balance sheet. We are still flush with cash. We have got 1800 crore rupees in our liquid in our balance sheet. You can see if the money is there. Why we will not disburse and why we will borrow is that simple. When we borrow there is a cost on that and that cost on our company and it’s on you only. It’s a prudent decision that if money is not required, why should we borrow here? In borrower will have to pay interest.
So whenever we require to borrow to disburse, we’ll borrow at that time. Our treasury is working day night on making relationship and getting sanctions. But borrowing is our plan. Since the disbursements has not picked up as per our expectation. And a huge prepayment has also come in books. So cash is already available there. Our sanctions were more than 3000 crore and still there are 2000 crore of pipeline which may be disbursed in coming next six months. So to match that money is almost available in the books.
Whenever we’ll require that asset liability mismatch is there. We’ll go for go and borrow.
Unidentified Participant
Sir, previous quarter only you said you will disperse nearly thousand crore rupees in this quarter and increase 15% of loan book size. But despite that you are having cash in hand. Despite your having cash in hand, you not disperse because your inability to raise fund in the market. That is the reason. Sir, you are keeping capital adequacy ratio high because you are not able to raise fund in the market.
Chintan Mehta
You are asking questions and giving answers yourself. So I am not 6.
Unidentified Participant
Since 6 quarter I’m observing you are keeping a capital ADC ratio high because you are not able to raise fund. And showing that where capital adequacy ratio is very high. So that’s where we are not raising fund.
Chintan Mehta
I can give my region. You are reading your own regions. So I cannot say. I think this is the reason
Unidentified Participant
Balaji resigned from the post.
Chintan Mehta
Pardon? But
Unidentified Participant
I think this is the reason Balaji also resigned. From the poster is not able to answer to the people investors.
Chintan Mehta
I don’t have any comment onto that.
Dilip Srivastava
Sir, it’s not like that. Balaji
Chintan Mehta
Has given his reasons in his renition letter. It is on a public domain. You can go through that. Apart from that not in a position to comment anything onto that. As far as disbursement is concerned. Agreed that we had assured that we’ll disburse 1500 crore almost in Q4. We have sanctioned also good amount. But the projects have not yet started. The projects which have been sanctioned alone, they take their own time in getting approvals and start. We cannot throw the money to them until unless they are they really require the disbursement.
So that disbursement will happen in future times. The infrastructure loans are that nature only and remaining all things. Whatever you have said, I really appreciate your sentiments and your feelings. But I don’t have to comment on anything onto that.
Unidentified Participant
Then why Previous management the MDN CEO said that we are consulting many financial institutions. By the end of this quarter, we will get the sanction and cash in the hands. Why he said like that?
Chintan Mehta
Because that is their work. They are supposed to do that. But ultimately when the requirement would be there, then only the borrowing will happen. Still the treasury team is working on that. And whenever required, the borrowing will be done. Thank you.
Operator
Thank you. Ladies and gentlemen. In order to ask a question, you May press star and one on your your touchstone telephone. Our next question come from the line of Chintan Mehta from Punishka family office. Please go ahead
Sanjeev Kumar
The 190crore gross fee portfolio if you can throw some line what are this in at what stage on resolution they are and I think it’s a Danu portfolio or not if you can confirm or what is the status of this 190karo
Chintan Mehta
Mr. Srinivas will take that one.
Unidentified Participant
Good evening everyone. The major portion of the GNPA is Danu windfall and I think as this was discussed I think it has been under discussion a number of times in earlier calls also the resolution process is underway it’s been referred to NCLT and parallel the promoters had offered an OTS which as and when it is if there’s an acceptable offer then it will be considered on merits as far as the timeline for any resolution is there the process is on I think as and when the resolution moves forward we will be communicating to the stock exchanges.
Sanjeev Kumar
Okay okay, understood that in the last six months the disbursement which we have done new which I call it close to 800 crore or let the sanction amount of last 2200 crore what is the average age of that life cycle of that loan amount? It’s a long project or a short project Something like
Chintan Mehta
This is something around 10.5%.
Sanjeev Kumar
Okay, I’m asking about number of years
Chintan Mehta
I think you are asking about yields okay, number of years Average number of the tenure of the project loan would be something around five to seven years it will be falling between then
Sanjeev Kumar
Which area these are falling I mean on private lenders but which infrastructure or which kind of cloud
Chintan Mehta
As of now sanctions have been done on missing mainly on private lenders One or two utilities has also been sanctioned where the this return is conducive to us so we’ll. We’ll discuss in future we’ll keep in mind that the yield should be in place Whatever our real requirement is there that should be there Even if you are disbursing to government lenders a government borrowers.
Sanjeev Kumar
Okay and for any under discussion like after NTBC takes the charges promoter they may let go the PFS the private or someone transaction or something the monetization of the PS prison cards or anything is communicated from last update to till
Chintan Mehta
You are not aware of anything like that.
Sanjeev Kumar
Okay Understood sir.
Chintan Mehta
Thank you.
Sanjeev Kumar
And at the board level every seat is now full s there are only CEO’s resignation which is come at the time nothing about
Chintan Mehta
I think we have addressed this. This question in past also in some of other investors request also. We again repeat that it’s a. It’s a call by an individual current MD in CEO. Mr. Balaji has taken a call that he want to quit because of some personal reasons. I am asking
Sanjeev Kumar
That any other vacant seat apart from CEO or not at all. Entire all the seats are full like board level or operation level or any executive level.
Chintan Mehta
All the. All the board level positions are full. CEO vacancy would be created as soon as Mr. Balaji would be relieved. And our team is already working on replacement of MD and cu. That will be also done in due course.
Sanjeev Kumar
Okay, thank you.
Operator
Thank you. Our next question comes from the line of Vishal Mehta from Oakland Capital. Please go ahead. Next question come from the line of Vishal Mehta from Oakland Capital. Please go ahead. Mr. Mehta. You may unmute yourself. Am
Vishal Mehta
I audible?
Operator
Yes, you are now.
Vishal Mehta
Hi, Just wanted to check sir, we had sanctions of almost three and a half thousand crores. So when. So you said there is a lag between when you did sanction it and how when it comes into disbursements. Could you just guide us through how long will it take to translate into addition into the AUM first point. And the second point is could you also give us details regarding how much was the prepayment or repayment of loans that has happened during the year.
Chintan Mehta
Taking your first question first. Infrastructure loans execute infrastructure projects are executed in the timeline of say six months to three and three and half years type of thing. So some. Some of the sanctioned projects are going to be completed in coming six months. Some are going to be completed in coming one year. One or two may take even more than that. So disbursement will be distribution distributed accordingly. And we expected major portion of this 3,400 sanctions out of that are about 2,000 is undisbursed as of now.
Major portion of this will be disbursed within Q2 of this year. And at the same time we will go on sanctioning also in this period. It’s a a continuous cycle that whatever we sanction some disbursement will happen later. Some disbursement can be back to back and some disbursement will take shorter period, some disbursement will take longer period. It’s a process. What is we can call the sanction and disbursement process. So this 2000 odd crore which are still undisbursed may be disbursed out of that may be 1500 crore may be disbursed in coming 2 quarters remaining may be disbursed in remaining 2 quarters and at the same time we’ll sanction fresh loans also out of that some loans would be disbursed in the same quarter, next quarter and that that school goes on.
So it’s very difficult to say by what time we will disburse this. It’s a construction process. As soon as the construction is done, we disburse. And as far as the repayments are concerned in the last financial year what is the number. Repayment something 1441 crore to be precise
Dilip Srivastava
Has
Chintan Mehta
Been prepaid. In. In repayment has been done.
Dilip Srivastava
Let, let
Chintan Mehta
Me correct the numbers once again. It is prepayments of the loan which has not scheduled prepayment has been done is 1105 crore and total payments are 1441 crore. This is number 26. Yes.
Vishal Mehta
Great. So in that case would this number be similar for next year as well? Because in that case we will have to probably for to register a growth in Aum we would have to have disbursements which will be over 1500 crores to ensure that we have addition to the loan book. Right.
Chintan Mehta
It’s very difficult to say what the number will be remain same or not. Because prepayments cannot be predicted. It depends on the requirement of the borrower if he wants to prepay because of certain regions he may have got some money available at lesser cost or they have planned to ship the loan to somewhere else they prepaid. So prepayments cannot be predicted. Repayments can be predicted. So that is in the line of prepayments while in the line of last year also itself may be exactly what we are proposing.
This number is not yet finalized. But prepayments we cannot predict. It’s always sword always hanging on the lender side. It’s all the. We take care in that, in the. In the disbursements that any prepayment or repayment comes we should lend it again. So that plan is there.
Vishal Mehta
Got it. Sir, just one, one last point that you know we have now. The board is also fully functional now and we have the rating agencies also given us a neutral rating. So going forward would it be possible to just give a guidance in terms of how are we looking at maybe the next two years to in terms of scaling up the loan book what kind of disbursements we are looking at or sanctions or however. So any long term guidance in terms of how we are trying to take the company forward. Because there have been a lot of speed breakers that we’ve had to Hurdle over.
And now since most of them are behind us, can we just give us a path going forward?
Chintan Mehta
In my initial submission also I have submitted that we’ll be working on building the loan books with quality as well as quantity. Though quantity may be not our biggest preferences, quality will be our biggest preferences. We’ll have to look at the yield also so that the loans can should generate sufficient profit to the stakeholders. At the same time, top line is always our priority. So you’ll see increased disbursements also include future quality. We have already worked on. There is no. Any. No.
No fresh slippage in our say last two, three years disbursement. It will not happen in future also. So we are budging onto that. And you will see at least say 30 to 50% growth year on year.
Vishal Mehta
This. You’re talking about disbursements or you’re talking about
Chintan Mehta
This? This I am talking about aven.
Vishal Mehta
Okay.
Chintan Mehta
Disbursements minus three payments.
Vishal Mehta
Wow. Great sir. All the best. We hope you achieve this. Thank you.
Chintan Mehta
Thank
Vishal Mehta
You.
Operator
Thank you. Our next question comes from the line of Ranjan Prasad Singh and individual investor. Please go ahead.
Unidentified Participant
Hi everybody. I have couple of questions. The first question is that can you give us some numbers about what is or net NPA at this stage and are you considering any other loan or are they at different stages of becoming npa? The number one. Number two as far as dividend is concerned, when you have a 1800 plus on your books, giving a 10% dividend is cost you only 65 crores which you will always recover in the coming quarter. So considering in the coming quarter doesn’t make a difference. You must consider the type when you can best impression in part to the market that you are dividend paying company and we keep your investors happy.
That’s the second. The third and last question is that are you planning to join any of these banks consortium which keeps giving loans to large projects and do they do have 1015 other partners who contribute in that. And then give the loan which becomes safer as well as it’s a long term. Thank you.
Chintan Mehta
I’ll address one by one all three. First is what you are asking us is NP as on. As on date. We have got a 190 crore or NPS as on date 1.49%. It’s 1.49% net NPA and it’s 190 crore. One
Dilip Srivastava
Hundred and ninety is gross. Gross and net
Chintan Mehta
NPA is only 47 crore. And second question was about dividend. Your suggestion is well noted and hope we’ll our board will work on that. It’s a
Unidentified Participant
Good time that at annual meeting you announced that okay 10% dividend and that makes all the investors happy as well as forward looking. Your suggestion
Chintan Mehta
Is good. It is well noted and will definitely convey this to our board so that appropriate decision can be taken. And third part was. Can you repeat the third part? Third part
Dilip Srivastava
We are open right? It’s not that we have limited we not participate in the co ending so depending upon the case to case and matching our you know risk and reward and we are open for that and in few few of the cases we have done as well right Some small ticket sizes. We are part of the multiple lending arrangement so we have been doing that part as well
Chintan Mehta
And we are participating consortium also wherever we get chance. So we are not averse of participating in consortium lendings are doing and that is one of our products so we will keep on doing in future also.
Unidentified Participant
Okay thank you.
Operator
Thank you ladies and gentlemen. That was the last question for today. I would now like to hand the conference over to the management for the closing remarks. Thank you. And over to you team.
Priya Chaudhary
Hi. Thank you all for your participation in today’s earnings call. We would like to take this opportunity to reiterate our commitment to delivering consistent value to all our stakeholders guided by the principle of transparency, accountability and responsible growth. Our core focus continues to be on profitable expansion, operational excellence and the development of innovative customer centric solutions aligned with our long term strategic vision. If you may have any further questions following this call, please please feel free to reach out to us.
Our senior management team at PFS will be happy to address any queries and concerns. We value your continued support and look forward to our ongoing engagements. Thank you.
Operator
Thank you on behalf of PTC Financial. That concludes this conference. Thank you for joining us and you may now disconnect your lines.