{"id":182568,"date":"2026-05-08T13:01:56","date_gmt":"2026-05-08T17:01:56","guid":{"rendered":"https:\/\/alphastreet.com\/india\/bank-of-india-ltd-bankindia-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-08T13:08:09","modified_gmt":"2026-05-08T17:08:09","slug":"bank-of-india-ltd-bankindia-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/bank-of-india-ltd-bankindia-q4-2026-earnings-call-transcript\/","title":{"rendered":"Bank of India Ltd (BANKINDIA) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Bank of India Ltd (NSE: BANKINDIA) Q4 2026 Earnings Call dated May. 08, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Gaurav Girdhar<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Rajneesh Karnatak<\/strong> \u2014 Managing Director and Chief Executive Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Ashok Ajmera<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sushil Choksey<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Niteen Dharmawat<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Gaurav Girdhar<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Good evening ladies and gentlemen. Good evening. Once again a very warm welcome to today’s analyst meet of bank of India’s quarter four results for FY26 which is being conducted in a hybrid mode. Being attended physically as well as virtually by our analysts from Pan India. We have with us on the dais Sri Rajneesh Karnatak Ji, our MD and CEO Sir. Joining him on the dais are our Executive directors Sri Pr. Rajgopal Sir, Sri Subratkumar Sir, Sri Rajiv Mishra sir and Sri Pramod Vibadi Sir. I request our MD and CEO sir to kindly address this gathering to.<\/p>\n

To begin with. Yes sir. Over to you, sir.<\/p>\n

Rajneesh Karnatak<\/strong> \u2014 Managing Director and Chief Executive Officer<\/em><\/p>\n

Thank you, madam. So, good evening everyone. Thanks for coming. Good evening ladies and gentlemen. Thank you for joining us today on this eve of publication of our bank’s financial results for 2025 26. This year has been another significant milestone in the bank’s journey marked by resilient financial performance, strengthened asset quality and robust business growth and continued commitment towards the nation building. Despite global uncertainties, geopolitical tensions, evolving interest rate scenarios and cycles and changing regulatory expectations, the Indian economy has demonstrated remarkable resilience.<\/p>\n

In this backdrop, our bank has continued to play a proactive role in supporting economic growth while maintaining financial stability and prudent risk management. During the year, the bank recorded healthy growth across key parameters including deposits advances, operating profit and digital transactions. Our focus remained on a calibrated credit growth with emphasis on quality underwriting, sectoral diversification and responsible lending practices. My speech is in three parts today. First part being institutional initiatives that we have taken.<\/p>\n

The second part being the business that we have done. And third part being the profitability and the asset quality. So on the institutional initiatives. The bank is establishing zonal deposit centers at all zonal offices to accelerate the CASA accretion and its market share. This initiative is designed to ensure long term retail stability and foster deeper and more meaningful customer relationships. As far as the CASA franchise of the bank is concerned, the bank has also strengthened the Umang app which is the Government of India app with its own BOI Omni Neo platform, creating one stop digital solution for a wide range of central and state government services.<\/p>\n

The strategic partnership with the National E Governance Division allows our customers to conveniently access essential public services through a streamlined redirection model directly within our own banking app. The third is the bank has launched the Bharat Connect Biller Operating services enabling corporate customers to onboard themselves as billers and offer their their customers diverse digital payment options. This initiative enhances the digital reach and strengthens the collection processes ensuring and more convenient and efficient payment experience for all these stakeholders.<\/p>\n

The bank has also established dedicated MSME Desk helplines to address the borrowers concerns directly. This initiative facilitates structured regular interaction ensuring a transparent and responsive grievance redressal mechanism for our MSME customers. The second part is with respect to the business the global business has grown by 14.57% on a yoy basis from 14.63 lakh crores in March 25 to 16.98 lakh crores in March 26 with an incremental growth of nearly 2.16 lakh crores. The global deposits have increased by 13.56% on a yoy basis from 8.17 lakh crores in March 25 to 9.27 lakh crores in March 26 with a incremental growth of 1.1 lakh crores.<\/p>\n

The domestic deposits have increased by 14.30% on a yoy basis from 7 lakh crores in March 25 to 8 lakh crores in March 26. CASA has increased on a yoy basis from 2.80 lakh crores in March 25 to 3.01 lakh crores in Mar 26 with an incremental growth of more than 20,000 crores in Mar 26 and the CASA ratio stood at 13. 7.64%. Gross global advances have increased by 15.82% on a yoy basis from 6.66 lakh crores in Mar 25 to 7.71 lakh crores in Mar 26 with the incremental growth of more than 1.05 lakh crores.<\/p>\n

Domestic gross advances have also increased by 16.10% on a yoy basis from 5.64 lakh crores in Mar 25 to to 6.54 lakh crores in Mar 26. Our REM advances have increased by 19.11% on a yoy basis from 3.23 lakh crores to 3.84 lakh crores in Mar 26, constituting 58% of the total advances as on Mar 26 as far as the profitability and the asset quality in the bank is concerned. Our operating Profit has improved by 4% on a yoy basis and stood at 17,049 crores for FY26 against 18,412 crores in FY25, 16,412 in FY25 and for the quarter ended FY26 Q4 at Rupees 5,026 crores with a yoy growth of more than 3%.<\/p>\n

Net profit has increased by more than 14% on a yoy basis and Stood at 10,527 crores for FY26 as against 9,219 crores in FY25 and for Q4 FY26 is stood at 3,016 crores increasing witnessing a yoy growth of more than 15%. Net interest income has also increased by 3% on a yoy basis and stood at 25,172 crore for FY26 against 24,394 crores in FY26 and for Q4 of FY26 stood at 6,730 crores against 6,063 crores in Q4 of FY25. Non interest income has increased by 10% on a yoy basis and STOOD at 9,874 crores and for FY26 as against 8,994 crores in FY25.<\/p>\n

Global NIM stood at 2.52 as on FY26 as against 2.82% in FY25. Slippage ratio stood at 0.83% as against 1.36% in FY26 and credit cost has improved to 0.46% in FY26 as on FY26 as against 0.76% as on FY25. There has been improvement in the asset quality with reduction in both gross NPA and net NPA ratio. Gross NPA ratio has improved by 129 basis points to 1.98% in FY26 and net NPA ratio has improved by 26 basis points on a YoY basis and stood at 0.56% only in FY26. Provision coverage ratio has improved to 93.57% in March 26 as against 92.39% in March 25 as on 31326 banks.<\/p>\n

CAR has improved to 18.01% from 17.09% as on March 25 now to conclude, in alignment with the prevailing global economic conditions, the guidance for the global advances growth will be around 15 to 16% and the guidance for global deposit growth is around 13 to 14%. For FY27, the bank’s primary focus will be on strengthening the deposit franchise for a higher share of low cost funds while driving the growth in high yielding advances to support the margins. Additionally, focused efforts will be there on maintaining the balanced CD ratio which is the credit deposit ratio and enhancing the return on assets will deliver a stronger financial performance.<\/p>\n

Investment in digital infrastructure and cybersecurity will continue to to enhance efficiency and resilience. Together these actions will enhance the measure expansion of the bank, measured expansion of the bank business and reinforce long term value creation for all stakeholders. The detailed annual report being released will provide comprehensive insight into the bank’s financial performance, strategic direction and also governance practice and the future outlook of the bank. I would like to thank you all for your continued support.<\/p>\n

The floor is now open for discussions and question answer. Thank you all for coming here and namaskar.<\/p>\n

Gaurav Girdhar<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Thank you very much sir. Before we proceed, please raise your hands if you would like to ask a question. A little improvisation here that if you could stand a little our volunteers. It will be easier for our volunteers to see you so that the mics can be passed on in an orderly fashion. Again repeating with it’s an earnest request that kindly put only two questions at a time so that maximum people can join. Because there are already a lot of questions coming online. We’ll come back to you for additional questions for sure.<\/p>\n

Thank you for your cooperation. And for those who have joined us virtually, you will notice a small icon on your screen, a hand sign. Once you press this, it will alert us that you would like to ask a question. We’ll go around one by one. The analyst asking the question will be unmuted. You will get a notification on your screen. To unmute yourself, kindly click on unmute and identify yourself and your organization before asking the question. I have already shared the WhatsApp number earlier so I’m sure questions are already on the way.<\/p>\n

So let us begin. Yes. Who’s going to be the first one? Nobody from here. So let us take if Mr. Ajmera is online because I got a text. Can you put him through? Mr. Ajmera Ganesh,<\/p>\n

Questions and Answers:<\/h2>\n

Ashok Ajmera<\/strong><\/p>\n

Good evening and thanks for taking me. My question is the first question. In fact I don’t have the question. I have major observations, a few observations, some compliments. So my compliments to the entire team of bank of India for yet another good quarter of very good results, even good business growth, good profitability, very good control on the asset quality, good control on the slippages and overall a fantastic quarter and a year. Compliments for the same. Can you hear me?<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah. Yes, we can hear you clearly.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Yes sir. Yes<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

Sir. Compliments to you sir. Having said that, I have just a main basic question which is coming to the mind is that the ECL guidelines are already announced now, the final guidelines. So how our bank is prepared to meet the provisioning for the Same starting from the 1st of April 2027, are we equipped fully to not take the benefit of those 45 years which are allowed? My second question is on the ECLG50 which has been announced by the Government of India two days back only I think with that a lot of, I mean the more room will open for the credit growth.<\/p>\n

So how much growth are you expecting? I mean have you done the analysis of the customer who are eligible for this emergency credit line? And how much of that can you are expecting to materialize the credit, Sir?<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah, thank you so much and thank you for joining also for this conference.<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

So as far as your first question is concerned<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

With respect to the RBI ECL guidelines which have come out which are effective from 1-4-20, we have already done lot of homework and preparation since the draft guidelines have come. We have already onboarded one of the big fours for the transitioning towards the ECL regime. And already the teams have already been made in our head office from the risk department side on the calculations of the various ratios and other things. So as far as the impact is concerned, not much of an impact will be there at that much I can assure you.<\/p>\n

And with the kind of asset quality and the SMA numbers that we are having and the declining trend in the SMA numbers, the transition for bank of India to the ECL guidelines of RBI will be smooth as you rightly said that it is for five years starting from 1st April 27th to 31st March 2032 and the impact will be spread across the next five years as per our calculation that we have done. The impact will be only 0.50% per annum aggregating to total 2.50% over the next five years. So to just to give you a sense on that, we have a net profit of presently as we have shown in this financial year, 10,000 crore of net profit which is improving the CRAR of the bank and the CET1 of the bank.<\/p>\n

And if you remove the net the dividend also of around 2000 1800-2000 crore that we have to pay. Still the accretion to the net worth and the CRAR is by a good 8,000 crores. So not much of impact will be there on the CRAR and the overall impact per annum will be only 0.5% which we have sufficient cushion in our net worth and the CRAR and the CAT one to absorb presently as I told you that our CRAR is 18.01% as against the RBI mandated 11.5%. So as regard the ECLGS is concerned 5.0 announced by the government for a total gross PT of around 2.55 lakh crores.<\/p>\n

So as you are aware there also it is for both MSME and non MSME. MSME is having a credit guarantee of 100% and non MSME is having a guarantee of 90%. And the payout is five years for the MSME and for the airline sector. For the MSME and non MSME it is five year. For the airline sector it is seven years. So we have already started, our teams have already started doing the the calculations and finding out the list as far as our MSME borrowers are concerned and also allied sector in the agriculture is concerned.<\/p>\n

Our MID corporate team has also started that through the CLGS branches, the emerging corporate branches that we have 19 branches. And the large corporate team has also already started identifying the accounts under which we’ll be eligible for the working capital. So as you are aware 20% of the working capital of the peak of the Q4 will be eligible 20% for the ECLGs. So we have done some ballpark computation calculation in that. So we expect that around 10 to 12,000 crore we will be able to fund under the ECLGS scheme this time.<\/p>\n

So the next next week we’ll be going to our board for approval of this scheme for our bank and after which it will immediately get rolled out in the branches. And we expect that lot of MSME borrowers and also allied sector in agriculture and some of the corporates and MID corporates will be immediately coming and availing this facility in this financial year. Thank you<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

Very much sir. Hello.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Yes, kindly on the mic to the first. Okay, you. You may take.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

First of all congratulations on a good set of numbers. Sir, kindly<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Introduce yourself Nishit<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Shaw over here from Vsolitec Investment Advisors. My question is regarding your retail deposits. So what we’ve seen is that reliance on bulk deposit has increased. No doubt there has been a very tight competition when it comes to retail deposit. RBI has also said that banks need to innovate. And I think you are the first one to start with no minimum balance scheme. Right. I think it has to be more pronounced because every other bank is doing and we are having a product which is innovative. That is one suggestion.<\/p>\n

And what is the comfortable CD ratio? Because I think your asset growth is much higher than your liabilities. That would be my first question, sir.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah, so thank you. So as far as our retail franchise is concerned, so if you see in our presentation also. So our CASA percentage 37% and retail deposits at around 44%. Our retail franchise of the domestic resources side is around 81, 82%. So the remaining percent is the bulk term deposits. As you rightly said that there has been a structural change which has happened as far as the deposit color of the deposit is concerned. And lot of funds are flowing out of the banking system into other asset class like equity, like mutual fund, like gold, like real estate and others.<\/p>\n

So there has been a lot of competition among the banks how to fund this credit growth which is coming. So that is one part. However, if you see from our presentation you will see that in spite of all these headwinds which are there, we have been able to grow our CASA in absolute terms by more than 20,000 crores from two 80,000 crores to 3 lakh crores. Similarly on the retail term deposit side, in spite of that we have been able to increase our retail term deposit percentage from 45.89% in absolute numbers.<\/p>\n

It has now touched two 19,000 crores. So that is the kind of number it has already touched. So we have taken lot of initiatives and made strategies to improve our retail term deposits and particularly the CASA numbers which are there retail deposits. One thing is we have already launched our project Oran which is under the big four under which we are giving very strategic importance and monitoring to the branches and the targets which we have given to the branches for both the SAI and the CAR and also the retail term deposit.<\/p>\n

That is the first part. And our head office department, resource department is totally attuned to that and lot of monitoring and VCs are happening to the field functionally like the branches, the zonal offices and also the FGM offices. That is number one. Second is that we have 69 zonal office and 13 FGM offices. So there we have posted one, one resource resource which is the resource RM which will take care of the. The the resources side in the bank. So 82 RMS have been posted for this kind of work.<\/p>\n

Apart from that, the new initiative as I said in my speech is that we have also started the Zonal Resource center which we call the zrc. There the officer along with his team will be posted and they will be monitoring the branches and also calling out to the customers and moving out in the market to garner new CASA and the retail term deposit. That is another initiative we have taken. We have also identified nearly 1,000 HNI branches across the country. We have 5,500 branches, HNI branches which will be like for more of business.<\/p>\n

And what are these HNI branches? These branches are which have majority of the account saving accounts which have average quarterly balance of more than 5 lakhs. That is another initiative that we have taken. As far as that is concerned. Then we have a subsidiary which we call boiserv. There we have started feet on street. So asset side sale of products we have already started this year. Now we have started in Q1, the liability side also. These are the feet on street who will be going in the market for opening of saving account, current account and retail term deposit.<\/p>\n

That is another new initiative we have taken. Apart from that, we will be building a new sales vertical in the bank which will be headed by a general manager right from head office general manager sitting only for sales and marketing up to bottom at the branch level. So it will not only be for resources, the salesperson, they will also be selling the asset products and also the wealth management product. So basically we are creating vertical for the sales vertical in the bank for the first time where the general manager will be in charge for sales and marketing in the bank for retail products, liability product asset products and the wealth management products which are there.<\/p>\n

And then apart from that we have already opened 200 branches in FY20. Four new branches, 200 branches were opened in this financial year, FY26 new branches, another 200 plus branches will be opening in FY27. So these 600 branches, the idea is to garner resources like CASA resources and retail term deposit on one side, loan products like ramp products on the other side. And thirdly the wealth management products. So all these things taken together, all these strategies will help us us in improving our franchise, our strong franchise that we have on CASA and retail term deposits so that we are able to reduce our cost of deposit number one so that we are able to improve our margins in the long term.<\/p>\n

And as far as your other question is concerned with respect to the CD ratio is concerned. So see if you see the RBI guidelines which are there as far as the CD ratio is concerned we have to put money in SLR and CRR. So 78, 79% can be the idle CD ratio which is there. If you see our CD ratio it is around 80 to 83%. But that is because of the fact that the CD ratio is high. Because obviously there is a crunch of resources which is there. So we are having a higher CD ratio in order to optimize our resources.<\/p>\n

We have a higher CD ratio at around 82%. But that CD ratio is helping us in improving the overall business of the bank. And if you see our numbers more granularly on the slide you will see that the 2 lakh delta which we have created on the deposits, total business side, the deposits have grown more than the advances on the yoy basis also. And if you see sequentially the quarter on quarter basis there also we have grown more deposits than the advances. So we are very cognizant of the fact that whatever accretion of the advances which we do like we are giving a guidance of around 15 to 16% of raising of advances.<\/p>\n

So we are are very cognizant that majority of that advances raising will be happening through the raising of deposits which is through our 5,500 branches.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Thank<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

You<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Sir. Thank you. We’ll come back to you. We’ll definitely come back to you. Yes. Gentlemen, you were to ask a question. Yes,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you for the opportunity. Good evening sir, this is Namit Arora from Ingrowth Capital. So I would like your assessment on any likely impact on credit quality given the recent geopolitical developments. Because there may be some lag effect of let’s say crude price or input costs or logistic disruptions. Since you are a very large institution, would like your thoughts on any potential impact on credit quality.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah, so the global headwinds which are there presently. So definitely it has some impact. See, we already are seeing that there has been a rise in brand crude prices say at $102 per barrel. Number two, the interest rates are also rising. Another thing is that with the interest rate rising and Brent crude happening there may be a chance that the inflation may also go up. And there are certain rating agencies which are saying that the growth in the country, the GDP may also come down. So from a 7% it has been said that it will now come down to 6.9%.<\/p>\n

RBI has also said that with all these things happening there are certain headwinds which are there. And the supply chain is also disrupted both for the importers and the exporters. And there has been a significant increase in the Baltic Index which has happened by nearly 2x 2.5x to 3x. So but what we see from the media and other kind of things, we feel that a solution will come out very shortly, maybe by the end of this quarter and we’ll be able to tide away with this crisis which is there. But if it does not and if it continues, definitely there will be some headwinds.<\/p>\n

But one thing I can assure you is that this ECLGS Scheme 5.0 which the government has announced it has come in the right time. And whatever the stress which may come into the MSME and the non MSME accounts, particularly in terms of working capital requirements because of the increase in supply chain, increase in the cost of their operations and other kinds of things that will be tided out through this 20% immediate relief which we are giving by way of the ECLGs. So whatever stress which may come, that will get eased out through this eclgs.<\/p>\n

But there are certain sectors definitely which is particularly the exporters and the importers and also certain segments within the industry, like you can say ceramics, pharmaceuticals, chemicals, which may be feeling the heat of this geopolitical situation in the immediate term.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you very much for your detailed thoughts and all the best. Thank you. Thank<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

You very much, sir. Chok Seji, you would like to ask something? Kindly pass on the mic. Yeah.<\/p>\n

Sushil Choksey<\/strong><\/p>\n

Congratulations to Team bank of India for excellent performance. So I heard some of your initial comments about growth on deposits advances. Can you elaborate some numbers on ROE ROA NIM and your CD ratio. You’ve already indicated how to balance corporate and RAM advances. The new initiative which you’ve taken for deposit mobilization through new zonal office. How are these touch points looking? What kind of growth aspirations are being looked at? Because if that number moves from 37 to 41, 42 in two years, the bank may have a sizable impact on positivity.<\/p>\n

So this is the first question.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah, yeah. Thank you so much. So some of the points as far as the ROA is concerned, if you see our ROA, we have now touched in Q4 ROA of 1.01%. So we are above 1% as far as the Q4 is concerned. However, having said that, our overall ROA for the year is 0.93% and it is above the ROA of 0.90% in March 25. So there has been an improvement because of the net interest income issue. The ROA we could not improve to the desired number which could have been. But definitely we have touched the RoA of 1.01% in the Q4 as far as the guidance on the RoA is concerned for the whole year FY27, we are giving a guidance that we’ll be touching a number of 1% for March 27 as far as the NIM is concerned.<\/p>\n

Again as I said in my opening speech that our NIM is at 2.52% global NIM which has come down by nearly 30 basis points from 2.82% in March 25. Having said that, I would like to clarify that as you are aware we have a very strong international franchise and 14% of our book is an international book where the NIMS are quite compressed and it is in the range of 1.10% to 1.30%. But our domestic NIM, as far as the domestic NIM is concerned as on March 26, it is at a very healthy 2.78% and with the kind of strategies which I already said that as far as the raising of resources is concerned that we are very confident that we’ll be able to protect Our NIMS in FY27 and certain strategies which I which I can elaborate is one of them is that we want to increase our MCLR advances.<\/p>\n

That is one part. Second part is that we want to increase more of our RAM advances because there the margins are much better. Third point is that we also want to increase our mid corporate advances through our emerging corporate credit branches because again the NIMS are much better. We are able to get better rate of interest number one and we are also able to get the non interest income in terms of better process fee, LCBG commission and other kinds of things. Apart from that, we are strategizing in this year that we increase our CASA deposits through our project where we have onboarded one of the consultants over there.<\/p>\n

Increase our retail term deposits so that we reduce our cost of deposits and through the MCLR and other kinds of initiative on the asset side increase and improve our yield on advances so that we improve our net interest income. So these are some of the things which we are planning to do. Apart from that we also want to reduce our fresh slippages. Once we are able to reduce our fresh slippages further, we have already reduced them to 5,500 crore if you see our presentation in the entire year and we want to further reduce it to 4000 crores in this financial year.<\/p>\n

If you are able to do that, there will be more earning assets for the bank which will help us increasing the net interest income. And finally the Net interest, margins and overall profitability of the bank. So these are the brief thoughts that I just wanted to share. As far as the margins are concerned,<\/p>\n

Sushil Choksey<\/strong><\/p>\n

The current environment, how are you seeing growth? Specifically the visibility on pipeline led by as India’s transforming, lot of new sectors are emerging whether it’s renewable, data center, warehouses, new roads, maybe a few more states are now being added after election. A lot of infrastructure expansion. At the same time, how do you see a balance between corporate book and RAM? I understand that I’m sure you’re targeting 60 and above on RAM. But what would be a visible number if we look one or two years beyond?<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah. So as far as the RAM book is concerned we are targeting a number of say around 62% the RAM book and 38% the corporate book. So that is for the strategy for the next three years for March 29th. That is the strategy as far as that is concerned. But having said that let me clarify that it does not mean that we will not be growing our corporate book. So when we say that 62% will be RAM book in FY29 and 38 will be corporate book, our advances will also be increasing and we are targeting advance of somewhere around 11 lakh crores as on March 29.<\/p>\n

So which is the number through which the corporate advances will also be increasing simultaneously along with the RAM advances? That is one point. Second point is that we are going very strong as a strategy in the emerging corporate credit branches that we have opened 19 branches through which we want to increase our corporate advances which are between the ticket size of 50 crores to 250 crores. That is another thought that we have. And we want to increase that base which is there between 50 to 250 crores.<\/p>\n

As far as the sectors and segment are concerned in the corporate we have lot of good pipeline which is there. As I said also earlier that 70,000 crore nearly is the pipeline that we are having. 65 to 70,000 thousand crore pipeline we are having in the corporate total pipeline that we have as on date. When we speak out of that around 15,000 crore is in the the RAM book remaining. The pipeline is with the corporate book which is around 50,000 crore. And in that pipeline we have infra pipeline also which is roads which are there.<\/p>\n

Power sector is also there. Data centers are also there. Apart from that there is an industry which is also there in the pipeline. And EV vehicles are there, batteries there, Solar panels are there, manufacturing of solar panels is there. Apart from that some LRD transactions, loan, lease, rental, discounting transactions are also there with us. Biogas is also there with us. And rare earth metal mining is also there with us. So such kinds of proposals are also there with us which are already in the pipeline, which are new gen proposals there.<\/p>\n

We will. We are seeing lot of uptake which is happening evening even in the gas pipelines which are there. Some of the transmission pipelines are which are coming and some of the new road projects which are coming in some of these states. So all these put together, we are very confident that the guidance that we have given for this financial year 15 to 16% of credit growth will be able to achieve.<\/p>\n

Sushil Choksey<\/strong><\/p>\n

Can we see domestic NIM of 3% domestic NIM of. Yeah. So<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

We are saying that yes, we will have a NIM of somewhere around from present 2.52% at somewhere around 2.70 to 7.2.75% NIM. We are targeting marketing guide. We are guiding for March 27th domestic NIM. Definitely we are targeting to get as close to 3% as possible.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Thank you very much sir. So there’s one online question which has come up from Mr. Vans Solanki from RSP and Ventures. He says that we have seen in many other PSU and private bank results that due to G Sec yield rising they have increased their discount rate for actuarial valuation of employee liabilities. And thus there was a major decrease in the employee expenses in Q4 in many PSU banks. So we. So have we also done the same? Are we expecting any positive this in Q1 results?<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah. So can we share any number present? Do we have any number on that?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Our CFO will respond, sir.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

CFO sir, kindly pass on the mic to Kumar. You<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Have any number with you or we can answer it later. Whatever you feel.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

In Q4 we have not taken anything but for as far as Q1 is content presently we don’t have any number. We’ll Update later.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Okay, Mr. Vansh, the updates will be given to you. Thank you. So there’s one online person has raised his hand. It is Mr. Nitin from Aurum Capital. Ganesh. Is he still around? Kindly put it through.<\/p>\n

Niteen Dharmawat<\/strong><\/p>\n

Hello.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Yes.<\/p>\n

Niteen Dharmawat<\/strong><\/p>\n

Yeah, Mr.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Nitin, we are all ears.<\/p>\n

Niteen Dharmawat<\/strong><\/p>\n

Yeah, yeah. Thank you so much ma’ am for the opportunity. First of all, congratulations on good set of number considering the prevailing conditions and and results from other PSU banks. Now the bank really did a commendable job over here and especially on the provisioning and NPA front. Also the ROA has gone past 1% range that you mentioned which was promised earlier. Also. Also the growth remained broad based which is very healthy. So this is superb overall. I have just two questions and I’ll ask both together otherwise Ma’ am will cut me short and may not give opportunity.<\/p>\n

The first one is we have an elevated provisioning versus Q3 from 605 crores provisioning to now 1211 crore provisioning. So what has happened there? My second question is again related with NPS only. So what is the status of recovery in state PSU and central PSU defaults that we reported earlier. Thank you.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

So as far as the provisions are concerned I can just share the numbers with you? Yeah. So as far as the quarter on quarter provisions are concerned if you see our presentation. So for bad and doubtful debts the provisions in fact From December quarter 605 they have gone up to 1200 crores and for the standard assets they have already they were minus at 29 it’s a minus 221 because of the non requirement and the reversal of those provisions and provisions for before tax on total 576 they have gone up to 990 crores.<\/p>\n

So that is the provisions as far as the provisions is concerned. So overall provisions if you see for the year on year basis for the bad and doubtful debts which is the NPA from 4500 crores it has come down to 3300 crores and as far as the non performing investment is concerned so -282 was there in the last year and this year there is no impact, no provision on that account and for the standard assets it is from 333 crore minus it has further got reduced by 290 crore. So not much of impact as far as the provision overall provision is concerned.<\/p>\n

But as far as your next question is concerned with respect to the state and central Vs impact is concerned. So there was only one central PSU which got NPA in the last financial year for which we have fully provided also. So there will be no impact on the profitability or provisioning as far as that central PSU is concerned. As far as some other PSUs are concerned which are coming. If you see our slide on the SMA in corporate book this SMA 0 SMA 1 and 2 there 3 state PSUs are there which are being coming under the SMA category they continue to move roll forward and roll backward during the quarter.<\/p>\n

But one thing we are confident that they are having cash flows with them and they will not be slipping into the NPA category and we are confident that we’ll be able to protect the asset the NPA as far as those state three PSUs are concerned. But yes, they will continue to remain in the SMA category with respect to some challenges on the cash flow side.<\/p>\n

Niteen Dharmawat<\/strong><\/p>\n

Got it sir. Thank you and no thank you very much Sir. Ganesh, is<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Mr. Ajmera still there? He wants to ask one more question. Yes Ajmeeraji, are you able to hear us? Kindly put him through.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, I’ll take.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

I think there is some glitch.<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

Yeah, yeah. Hello. Okay sir,<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Kindly continue.<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

Yeah sir, I have got just a couple of questions and some observations. Sir, the. The non interest income every bank is trying to increase because of this pressure on the nim. I mean the. And because of the high cost of the deposit and fundraise. So going forward what plans do we have to increase our non interest income and recovery from the return of account which is a major source of a non interest income. The other income, what is our total return of book and how much are we expecting in the FY27 to recover from that?<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah. Thank you. As far as the net interest income is concerned if you see the annual entire P L of the bank so we are having an interest income of around 75,000 crores. And our interest expense is around 50,000 crores which leaves us a net interest income of around 25,000 crores. So we have a clear strategy as far as the improvement of this net interest income is concerned. And we are very cognizant of the fact that we have to increase this net interest income in order to improve our overall operating profit in the bank so that the net interest margins also improve.<\/p>\n

So we have made a strategy as far as the interest income side is concerned. As I earlier said also that we want to increase our MCLR advances number one. Number two we want to increase our advances towards the mid corporate through our emerging corporate credit branches. We also want to increase our advances in the RAM book, retail agriculture culture and MSME where we feel the margins are much better that is on the asset side. On the liability side definitely we want to increase our CASA balances and also our retail term deposit balances outstanding where we feel that we’ll be able to reduce our cost of deposits and on the asset side we want to increase our yield on advances.<\/p>\n

So both these strategies together we are very confident that if we are able to increase our net interest income in fact we want to increase our interest income to such a level that the overall operating profit for the bank improves. So that is one part. The second part is with respect to the return of accounts yes, we. We are having a number. As far as the return of book is concerned. We have done a recovery of nearly 2500 crores in this financial year. As far as the return of accounts are concerned in the bank and this is a healthy number.<\/p>\n

And in the financial year FY 2527 also we will be trying to achieve the similar run rate of around 2500-3000 crores of recovery from these written of accounts.<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

What is<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

The total total return? One gentleman sitting? Yes please. Yeah. Kindly introduce yourself. My<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Name is Asoksha. I am from Eclipse family office. Sir, this is regarding page number 42 of our presentation.<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

Yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, we have some of the subsidiary to create other income source.<\/p>\n

Ashok Ajmera<\/strong><\/p>\n

Correct.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So if I see that we started Demet Services in the year 1996 with NSDL and 1999 with CDSL but we have never taken it as a serious business. So again as a broking we have not started our broking business like the other PSUs and everything. So similarly in the insurance sector we just hold 27%. So we have. We are being a 120 year old bank. So why we are lagging in this field? Because our PSU brothers has done very well and also private sector has done taken a very aggressive lead in this matter. And also doing secured and creating a other income portfolio which is very large.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So what is a going forward over next five years what is your plan<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

In<\/p>\n

Unidentified Participant<\/strong><\/p>\n

This sector?<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

So as far as our subsidiaries and this wealth management income is concerned where we have a very clear strategy for the next five years. And if you see the last three years also as far as the income which is coming from the wealth management products of the bank. Every year the income non interest income has been growing for the bank. Every year it has been growing. So that much I can assure you. If you see the slide in the slide only that you have mentioned that this by merchant bankers the merchant banking activity we are doing and there also we are scaling up.<\/p>\n

As far as your specific question with respect to the trading account is concerned. Demat account is concerned. We already have two tie ups with our partners which we are through which we are offering three in one accounts which is a trading account, a saving account and also the Demat account that is already. Already we have started and already the results with both the partners have started coming. Another important thing is with respect to our subsidiary by Services Limited which we have now rechristened at Boiserv wherein we have started the feet on street and they are onboarding DSAs which are coming from Best of the private banks and other public sector banks.<\/p>\n

And we are selling our products. We have already started selling our loan products through that subsidiary. And we have sold loan book, the ram book of nearly 35000 crores through that subsidiary. This quarter we are starting the liabilities product under the project. So feet on a street they will be selling the liabilities product which is particularly CASA and retail term deposits. And also in the next quarter they will be starting selling the wealth management products. So that subsidiary also has been totally made active and live as far as we are concerned.<\/p>\n

And we have a very strong like engagement with that subsidiary. And the next five year plan is very clear for that subsid from that. As you rightly said that even though we are having only 26, 27% in our life insurance subsidiary. But we are one of the key players as far as the onboarding of the insurance. Life insurance products are concerned from our branches. And good growth is happening in the SUD Life subsidiary as far as the sale of insurance is concerned. Mutual fund subsidiary. Again let me just tell you share with you the numbers.<\/p>\n

Three years ago the mutual fund was somewhere around 3 to 4000 crores. Today it is at around 14 to 15,000 crores. That is the kind of growth the mutual fund AUM has taken place. And in the it is already in public domain that we have already taken one of the consultants as for a process advisor. And we want to have a partner over there. An international partner or a domestic partner, good sales AUM partner for our mutual fund. And once that onboarding happens. So you will be seeing much more incremental growth happening as far as the mutual fund also is concerned.<\/p>\n

So we have very clear strategy for the next five years as far as these wealth management products are concerned. Because we are very clear that apart from the net interest income we have to have a very good growth as far as the non interest is concerned. Only then we will be able to show better operating profit and finally better net profit for the bank.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Thank you very much. Sir, can I take one online question and then I’ll come to you. This gentleman is waiting since long. Ganesh. Kindly put through. Mr. Siddharth are from Systematics.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Gentlemen, thank you for the opportunity. First congratulations to the whole team for a very fantastic quarter. And Also congratulations to Mr. Karnatak for an extension in his term. So first a clarity on the NIM. When you say 2.75 and 3% for domestic is it the exit name that you have guiding and also what will it be driven by? Will it be driven by yield or non advances or more by cost of deposits. This is first. Second is on your other income. What has driven the higher technically higher recoveries in this quarter?<\/p>\n

Sequentially this quarter we have got 1600 crores and also what is driven the third party sales and third is on the credit cost. So this, this quarter we have taken higher provision. I understand we have utilized maybe the higher recoveries that we have got. But how will our credit cost be in the ECL period the impact you have given. But what will be the one time impact we have? But what will be the incremental credit cost due to the ECL transition? And the question is also because there is sharp movement of between the SMAs for us because of the PSUs.<\/p>\n

But we have to take that credit cost because now in the ECL it’s required in stage two. So how will the credit cost move for us in the ECL period? Yeah, thank you. These are my.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah, thank you. So as far as the NIM is concerned, see I have as I already said that we are at 2.52 on the annualized basis and for the the quarter it is 2.58. So we have given a guidance that it will be somewhere around 2.70% for the entire year as far as the domestic is concerned, name is concerned presently we are at 2.78%. I and as I said for the year ended March 27th we will be trying to be as close as to 3% as possible. So as far as the strategy for improving that is concerned that is both side strategy as I explained earlier also we want to increase our yield on advances number one and number two we also want to reduce our cost of deposit so that the overall net interest income improves and the net interest margins for the bank improve as far as the other income is concerned.<\/p>\n

So yes, other income if you see in the other income we have improved our other income by nearly 10% from 8,900 crores to 9,800 crores. And the delta is say around 900 to 1,000 crores in that within that as you rightly say that the recovery from written accounts it has improved from 2300 crores to 2600 crores. And as I explained earlier in my question that this 2600 crores, this run rate we want to continue and this year we are expecting that we should be somewhere between 2,500 to 3,000 crores as far as recovery in the return of accounts are concerned.<\/p>\n

So as far as the SMA is concerned, see SMAs. If you see our slide, we have been improving our SMA numbers continuously over the the last three years through our zonal collection centers that we have opened. And if you see in our slide also that the SMA numbers has now come down significantly and I’ll just show you the numbers. Yeah, so it is now at 4700. The overall SMA is there and it is only 0.62% of our total asset book which was earlier in March 25th at 0.92%. So that has been the slide as far as the SMA number is concerned.<\/p>\n

And if you see further granularly over there, SMA 1 and 2 constitute nearly 66% and 34% is SMA 0. And it is well distributed between Agriculture, Retail and MSME. And not much figure is there as far as the corporate book is concerned. In the sma it is only 3, 3600 which is there apart from the overall 4700 relation to the ECL is there. If you see directly this stage 1, stage 2 and stage 3 which is there in the ECL framework wherein stage 1 is the standard book and the SMA 0 there you see that we have been able to reduce our overall SMA 0 numbers, that is 1 point.<\/p>\n

Second point is with respect to the stage 2 wherein SMA 1 and 2 will be sitting there. Also if you see the overall SMA number is coming down. So this under the ECL guidelines also the provisions numbers will be coming down and with the kind of agility and robustness that our zonal collection centers are performing, we are very sure that we’ll be able to further reduce the SMA number so that the overall impact of the ECL guidelines is reduced through the provisionings which are there. So as far as the credit cost is concerned and the impact of the ECL guidelines on the credit cost, yes there will be some impact on the credit cost side because of the ECL guidelines, but we feel that it should not be more than 10 basis point on an annualized basis.<\/p>\n

Thank you sir. So this is the last<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Question coming up from this gentleman who’s been waiting. Yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello sir, I’m Devonsh from Motila Law School. Sir, first of all congratulations for your fabulous numbers. Sir, I have two questions. So one is your CASA percentage which has been at 37.64% which is by reduced by like from 40 41% in FY25. So the question is sir, are we, with all your initiatives which you mentioned, are we able to achieve the numbers of 40, 41 41% in coming quarters and by when are we going to achieve that? Second question is as you said you are more focused on increasing your RMA book book, right?<\/p>\n

So you have a very significant agriculture book of around 1 lakh 15 thousand crores. Sir, with the monsoon forecast being less lesser than expected, what impact will that have on the agriculture book and how are we going to provision for it? That’s it. So thank you.<\/p>\n

Rajneesh Karnatak<\/strong><\/p>\n

Yeah. So as far as CASA is concerned, you rightly said that as in percentage terms it is coming down and we have now come down to 37 point in the casa percentage terms is concerned. But however if you see the absolute numbers, the delta that have we have created is more than 20,000 crores. So CASA number we have increased by from 2 lakh 80,000 crores to more than 3 lakh crores. March 26th we have closed. So our as I said that under our project run, our clear strategy is to increase our CASA in absolute terms.<\/p>\n

As I said that there has been a structural change in the deposits in the entire banking system wherein more of the color of the deposit has changed and more of the resources are coming through the term deposits rather than from the CASA franchise which is coming. Nonetheless, we are still very much confident that the delta that we will be creating in this financial year also as far as the CASA is concerned, we have set ourselves a target that we should be closing our CASA at somewhere around 3.30 lakh crores which is an increase of around 10% in the KASA number in FY27.<\/p>\n

So with that thing in mind, definitely we feel that we’ll be able to bring down the cost of deposits. However, having said that because there will be increase in credit and increase in advances and we said that we have given a guidance of 15 to 16% in growth in advances. So we’ll have to meet those resources through deposits only. This will be the the basic through which we will fund our credit growth which will be there. And definitely if the CASA growth, growth will be not up to the mark to match the increase in credit which is there, definitely we’ll be raising both retail term deposit and the bulk deposits which are there.<\/p>\n

As far as the Ram agriculture is concerned, as you rightly said, there have been the monsoon will be at somewhere around 92% kind of thing the reports which are coming. But if you see the pattern within the country now, not much of droughts are happening in India. There has been a very good canal network which is there across all these states. Earlier we used to See that when the monsoon used to go down there used to be a drought like situation in some of these states. But if you see in the last four, five years there has been some concern as far as the growth of plantation and other kinds of things is concerned on the agriculture side.<\/p>\n

But drought like situations are not prevalent in the last four or five years because of the good canal system which has been developed across all these states in the country. So we are very much confident that the agricultural growth that we are showing this year we had agricultural growth of 17% this this financial year. We are also confident that we’ll be able to show that number. And whatever the growth also you are showing seeing in the agriculture lot of it also is contributed by the gold loan factor which is there.<\/p>\n

So gold loan also we are giving there the Yield is around 9% and hardly any NPA is there any asset quality issue is there in the gold loan. So that is one play which is there with us through which we are able to increase our agriculture book and with a good yield on advances and also protecting the asset quality and which will final not impact the overall situation wherein the drought or agriculture rainfall situation is there. So this is just one thing I would like to share Apart from that in agriculture we are focusing not much on core agriculture.<\/p>\n

Now we are targeting allied agriculture which is a clear targets that we have given to our zones and FGM’s that we want to increase allied agriculture in agriculture rather than the core agriculture which used to be there. The kccs and the term loans which we to the farmers. The delta that we want to create is through the allied agriculture. So but with the kind of thing which is there we are very confident that we’ll be able to increase our agriculture book and also protect the asset quality. Yeah, gold alone advances are somewhere around 50,000 crores overall gold loan total.<\/p>\n

So the entire gold loan book is not classified in agriculture. Some of that is also classified under MSME because wherever the this the borrower is having Udyog Aadhar with them registration they are classified under the the MSME category also. So that is another thing which is there. So there as I said that the yield is more than 9, 9% and hardly any asset delinquency is there. The NPA is hardly 60 crore something in the entire agriculture book. And as per the SOP we have in case of NPA within 90 days it has to be sold.<\/p>\n

And unless and until it is a spurious gold the entire recovery happens in such accounts. So agriculture gold loan within the agriculture you are asking. So around 40%, 35 to 40%. It should be there.<\/p>\n

Gaurav Girdhar<\/strong><\/p>\n

Thank you. Thank you, gentlemen. Let us wrap up now. It’s been a long time. Thank you very much. MD sir and all the executive directors present on the dais. And thank you very much for all the analysts who are present here and also those who have joined online. I also want to thank the concept PR team, the analyst who has taken care of the analyst, Amit Ganesh and Gaurav for putting up a good show. And special thanks to Bank’s team from travel and hospitality, Finance IT and of course, publicity, npr.<\/p>\n

Thank you all. Good night.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Bank of India Ltd (NSE: BANKINDIA) Q4 2026 Earnings Call dated May. 08, 2026 Corporate Participants: Gaurav Girdhar \u2014 Investor Relations Rajneesh Karnatak \u2014 Managing Director and Chief Executive Officer Analysts: Ashok Ajmera \u2014 Analyst […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-182568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":173439,"url":"https:\/\/alphastreet.com\/india\/ice-make-refrigeration-ltd-icemake-q4-2025-earnings-call-transcript\/","url_meta":{"origin":182568,"position":0},"title":"Ice Make Refrigeration Ltd (ICEMAKE) Q4 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Ice Make Refrigeration Ltd (NSE: ICEMAKE) Q4 2025 Earnings Call dated May. 21, 2025 Corporate Participants: Aryan Rana \u2014 Investor Relations Chandrakant P Patel \u2014 Chairman and Managing Director Ankit Patel \u2014 Chief Financial Officer Nikhil Bhatt \u2014 Vice President Strategy Unidentified Speaker Analysts: Arnav Sakhuja \u2014 Analyst Shashi \u2014\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, 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Speaker Heena Khatri Srinivasan Giridhar \u2014 Chief Financial Officer Balkishan Jalan \u2014 Whole Time Director Analysts: Unidentified Participant Hiral \u2014 Analyst Darshan \u2014 Analyst Tuti Agarwal \u2014 Analyst Ajit Sethi \u2014 Analyst Presentation:\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 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