Corporate Presentation November

Transcription

1 Corporate Presentation November

2 Agenda Company Overview Niche housing finance company..04 Business performance 05 Key milestones.06 Focus on under penetrated markets and segments...07 Geographic presence.. 08 Differentiated business model 09 Robust credit process...10 Board and Management Industry Opportunity H1FY14 Financial Performance Historical Financial Performance Outlook & Strategy Annexure Repco Home Finance Limited Corporate Presentation November

3 Company Overview

4 Niche housing finance company Focus on under penetrated markets & segments Significant focus on providing loans to segments underserved by larger HFCs & banks Target segment comprises of self employed professionals and self employed non-professionals Loans to salaried and non-salaried borrowers constitute 46% and 54% of loan book Tap customers in tier 2 & 3 cities and peripheries of tier 1 cities Strong base and brand in Southern India Promoter, Repco Bank, is operating in Southern India since branches and satellite centres, with ~90% located in Southern India Expanding footprint by selectively setting-up new branches in the states of Maharashtra, Gujarat, Odisha and West Bengal Robust business model with control on cost and risk Direct marketing and customer contact ensuring greater transparency, ownership and efficiency Low cost of operations: lean branch model, centralized loan process, no DSA sourcing Robust risk management processes and checks at every step of loan process ensuring good asset quality Experienced board and management team T S Krishna Murthy, Chairman: Over 50 years experience, served as Chief Election Commissioner of India, Chief Commissioner of Income Tax, sits on the boards of Shriram Life, Edelweiss ARC, DSP Blackrock Trustee and RRB Energy R Varadarajan, Managing Director: Over 35 years experience in banking & financial services Repco Home Finance Limited Corporate Presentation November

5 With strong business performance Loans outstanding (Sept 30, 2013) Rs 40,356 million Cumulative disbursements (Sept 30, 2013) Rs 56,000 million Loan book CAGR (FY09-13) 38% Total income CAGR (FY09-13) 38% Profit after taxes CAGR (FY09-13) 31% Capital adequacy ratio (CAR) 25.3% Networth (Sept 30, 2013) Rs 6,696 million Cost to Income ratio 15.7% Gross NPA (%) (Sept 30, 2013) 1.67% Net NPA (%) (Sept 30, 2013) 0.92% Repco Home Finance Limited Corporate Presentation November

6 Has emerged as a well known brand Loan book grew from Rs 1 billion in FY03 to over Rs 35 billion in FY13, CAGR of 43% Incorporat ed as Repco Home Finance Limited 2002 Received certificate of registration from NHB 2003 Loan book crossed Rs. 1 bn 2007 Opening of our 25th branch Investment by Carlyle Loan book crossed Rs. 5 bn 2009 Loan book crossed Rs. 10 bn 1st branch outside the southern states opened in Pune 2010 Rated A+ (stable) by ICRA Opening of our 50th branch Opening of our 70th branch Loan book crossed Rs. 30 bn IPO and listing of shares on NSE and BSE Rating upgrade by ICRA to AA-; rates NCD (AA-) and CP (A1+) Loan book crosses Rs 40bn Repco Home Finance Limited Corporate Presentation November

7 Focus on underpenetrated markets and segments Not reliant on highly competitive salaried segment and focus on self employed which are ignored by larger HFCs Direct customer contact, tailored approach and personal evaluation processes enabled to tap this segment Focus on financing customers in tier 2 and tier 3 cities and peripheral areas of tier 1 cities Expected to benefit from rapid urbanization leading to significant growth in these areas Loan book composition Average loan size (Rs million) 100% 90% 80% 70% 60% 50% 53.9% 55.9% 55.1% 53.5% 53.1% 54.0% % 30% 20% 10% 0% 46.1% 44.1% 44.9% 46.5% 46.9% 46.0% FY09 FY10 FY11 FY12 FY13 Q2FY14 Salaried Non Salaried FY10 FY11 FY12 FY13 Q2FY14 Target lower competition segments and markets through direct customer centric approach Repco Home Finance Limited Corporate Presentation November

8 Strong base in South India; expanding footprint 82 branches and 20 satellite centres Focus on under penetrated markets with two third branches in tier-ii & tier-iii cities Converted 8 satellite centers into branches and opened 1 new branch and 9 satellite centers during H1FY14 Region-wise loan book (30 th Sept 13) Maharashtra Andhra, 4.4% Pradesh, 13.1% Others, 3.3% Kerela, 3.7% Karnataka, 11.9% Tamil Nadu, 63.5% Strong presence Significant presence Recent expansion State-wise retail network June 13 Sept 13 Tamil Nadu Karnataka Andhra Pradesh Kerela 7 7 Maharastra 5 8 Gujarat 2 2 West Bangal 1 1 Odisha 1 1 Total Repco Home Finance Limited Corporate Presentation November

9 Differentiated business model Direct marketing and customer contact Reaching out to customer through direct & localized advertising, loan camps & word of mouth referrals Branch offices serve as a single point of contact for customers Loan origination system with real time transmission & review of loan applications Centralized credit appraisal team Greater transparency, reduced incidence of fraud and speedy operations Low cost operations Lean branch model with 3-4 employees per branch with local knowledge Lower rentals in tier 2/3 and peripheries of tier 1 Low administrative costs due to centralized credit approval mechanism Direct business sourcing, no commission expenses Robust risk management systems and processes Risk management systems at every step of loan process: personal interview, property site & business premises visit, valuation and legal opinion from independent experts, linking interest rates to credit score, etc. Same person involved in origination, appraisal, monitoring and recovery Conservative lending metrics: LTV 65% and IRR 50% Total loans written off since inception: 0.08% of total cumulative disbursements RHFL has developed a low cost operating model and a robust asset quality control mechanism translating into strong growth Repco Home Finance Limited Corporate Presentation November

10 Collection & Recovery Ongoing Monitoring 2 Tier Credit Appraisal Loan proposal via loan origination system Robust credit process Appraisal, Monitoring, Collection Branch Level Process Through branch Head Office Level Process Loan sanction order to borrower Personal interview Thorough review of documents & CIBIL checks Scrutiny of property documents & visit to property Visits to business & residential premises; Employment checks Technical valuation report Independent legal opinion Scrutiny by credit officer Approval by sanctioning authority Appraisal note, evaluation summary Loan amount based on LTV & IIR Credit score-linked interest rate Verification & submission of original title deeds as security Loan & security document execution & registration Loan disbursement (progress-linked for under construction property) Annual inspection of each branch by internal inspection team Internal audit by external chartered accountant firms Head office visits during loan camps Periodical inspections of secured properties before and after disbursement Audit of strategic branches on random basis by Statutory Auditor Strong co-ordination between branch and HO: Monthly performance scoring of branches, Monthly MIS and branch manager report, Periodic review meetings Incentivizing branch personnel for timely recovery Post-dated cheques Insuring of loans with property insurance Dedicated recovery team at head office, Focused recovery camps when needed Visits by branch personnel Proceedings under Negotiable Instruments Act, 1881 & SARFAESI Act, Proceedings instituted under SARFAESI Act: 466 cases and implemented successfully & loan outstanding collected in full: 302 cases Repco Home Finance Limited Corporate Presentation November

11 Organization structure and board of directors Marquee Promoters/Investors Experienced Board of Directors Managing Director Executive Directors Finance Human resource Legal Marketing Risk Technology Board of Directors T S Krishna Murthy, Chairman Over 50 years experience, served as Chief Election Commissioner of India, Chief Commissioner of Income Tax Serving on the boards of Shriram Life, Edelweiss ARC, DSP Blackrock Trustee and RRB Energy R Varadarajan, Managing Director Over 35 years experience, was with Syndicate Bank for 23 years and thereafter with Repco Bank S C Panda Over 28 years experience; Currently holds the position of Additional Secretary and Financial Advisor, Ministry of Home Affairs. V Nadanasabapathy Over 35 years experience in the banking sector, ex- DGM at Syndicate Bank, ex-chairman of North Malabar Gramin Bank G R Sundaravadivelu Over 37 years experience at various nationalized banks including senior management positions such as Director at PNB Iqbal Singh Chahal Over 24 years experience in public service, currently Joint Secretary, Ministry of Home Affairs Thomas Paul Diamond Over 40 years experience including 33 years at LIC former CEO of LIC Housing Finance B.Anand 24 years of work experience in government service; currently Principal Secretary/Commissioner of Rehabilitation, Government of Tamil Nadu C Thangaraju Over 20 years experience as practicing lawyer in the District Court at Namakkal, Tamil Nadu Madhava Menon Shankar, Nominee of Carlyle Over 24 years experience, ex-md & CEO of Hathway Investments Mahesh Parasuraman, Nominee of Carlyle Over 15 years experience, worked at E&Y and Arthur Andersen Repco Home Finance Limited Corporate Presentation November

12 Functional Heads Executive Directors Professional management with significant experience in financial services R Varadarajan Managing Director Over 35 years of experience in banking V Raghu Executive Director Over 32 years of experience. Earlier worked as GM with NHB and also with RBI and SBI P Natarajan Executive Director Over 30 years of experience in banking and financial services. Earlier worked at Repco Bank as General Manager. K Ashok Chief GM, Credit Over 24 years experience in the banking industry; been with Company since 2005 Earlier worked at Syndicate Bank at its regional offices & branches T Karunakaran, Deputy GM, Accounts Over 20 years experience in the housing finance industry; been with Company since 2004 Worked for 14 years with the Housing and Urban Development Corporation and Ind Bank Housing Poonam Sen Deputy GM, Planning, BD, HR Over 12 years experience in the housing finance industry; been with Company since 2006 Worked for 7.5 years with the NHB across corporate planning, refinance, market research & training G Ramanujam Assistant GM, Legal Over 32 years experience in banking & legal matters; been with Company since 2005 Worked for 22 years with Syndicate Bank including as legal officer S Shenbagaraj Assistant GM, IT Over 8 years experience in development and implementation of application software; been with Company since 2006 K Prabhu CS & Compliance Officer Been with Company since 2008 Repco Home Finance Limited Corporate Presentation November

13 Industry Opportunity

14 Multiple growth drivers for housing finance Increasing urbanization 40 % of urban population Source: Crisil Low mortgage penetration Shortage of urban housing (mn units) Obsolesce nt houses, 2.27 Katcha units, 0.99 Homeless conditions, 0.53 HFCs gaining market share Congested houses requiring new houses, Source: Ministry of Housing and Urban Poverty Alleviation Total urban housing shortage of mn units 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 10% 17% 20% Source: Research reports Mortgage as % of GDP 26% 29% 32% 81% 88% 100% 80% 59% 57% 56% 54% 53% 60% 40% 20% 41% 43% 44% 46% 47% 0% E E E P P HFCs Banks Source: Crisil Share gain through focused efforts on housing finance products Repco Home Finance Limited Corporate Presentation November

15 Significant opportunities in under served segments High % of self employed in total workforce Salaried, 15.5% 100% 80% Metro & Urban areas continue to dominate banks home loan portfolio 10.3% 8.8% 7.1% 7.5% 15.2% 12.4% 14.1% 16.0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Casual labor, 33.5% Source: National Sample Survey Office 2.5% 6.8% 13.7% Source: NHB Self employed, 51.0% Declining share of low ticket housing in bank's loan book 14.1% 19.9% 28.5% 23.6% 20.8% 22.9% 37.1% 25.6% 22.7% 26.9% 17.4% 17.5% <0.2mn mn mn mn >2.5mn FY05 FY09 FY12 60% 40% 20% 27.2% 47.3% 24.4% 26.7% 27.8% 54.5% 52.1% 48.7% 0% FY05 FY07 FY09 FY12 Metro Urban Semi urban Rural Source: NHB Self employed (including professionals and non professionals) constitute 51% of the workforce; however, banks and large HFCs focus on salaried segment (15.5%) due to ease of appraisal Clear property titles in metro and urban led banks to focus on these areas Considerable opportunities for smaller HFCs to focus to non salaried and tier 2/3 markets, largely under served by banks and larger HFCs Repco Home Finance Limited Corporate Presentation November

16 H1 FY 14 Performance

17 Strong growth in loan book continues 30% YoY Figures in Rs million Sanctions and disbursements Loan Book 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000-5,669 4,959 H1FY13 Sanctions 8,437 7,597 H1FY14 Disbursements 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000-30,978 Sept'12 40,356 Sept'13 Loan book composition Mix of loan portfolio 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 52.8% 54.0% 47.2% 46.0% Sept'12 Sept'13 Salaried Non Salaried 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 14.0% 16.3% 86.0% 83.7% Sept'12 Individual home loans Sept'13 Loans against property No exposure to developer loans Repco Home Finance Limited Corporate Presentation November

18 With robust growth in income and profits Figures in Rs million Income from operations Net interest income 3,000 2,500 2,486 1, ,000 1, , , H1FY13 H1FY14 - H1FY13 H1FY14 Net profit Cost to income ratio % 18.0% 16.0% 15.4% 15.7% % 12.0% % 8.0% 6.0% % 2.0% - H1FY13 H1FY14 0.0% H1FY13 H1FY14 Repco Home Finance Limited Corporate Presentation November

19 Steadily expanding margins and returns Spread Net interest margins 3.5% 3.0% 2.5% 2.8% 3.3% 5.0% 4.0% 3.9% 4.7% 2.0% 3.0% 1.5% 1.0% 2.0% 0.5% 1.0% 0.0% Sept'12 Sept'13 0.0% Sept'12 Sept'13 Return on assets Return on average networth 3.0% 2.5% 2.4% 2.7% 25.0% 20.0% 22.8% 20.6% 2.0% 15.0% 1.5% 1.0% 10.0% 0.5% 5.0% 0.0% Sept'12 Sept'13 0.0% Sept'12 Sept'13 Repco Home Finance Limited Corporate Presentation November

20 Continuous improvement in asset quality Figures in Rs million Gross NPA Net NPA % 1.67% 2.50% 2.00% 1.50% 1.00% 0.50% % % 1.80% 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% - Sept'12 Sept' % - Sept'12 Sept' % Gross NPA Gross NPA % Net NPA Net NPA % CRAR Provision Coverage CRAR well above regulatory requirement of 12% consisting entirely of Tier 1 capital 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 15.9% Sept' % Sept' % 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 25.3% Sept' % Sept'13 Repco Home Finance Limited Corporate Presentation November

21 Business model lends itself to seasonal variation in NPA Quarter on quarter movement in NPA Q2 NPA movement 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 1.9% 1.4% 3.2% 2.6% 1.2% 0.9% 2.2% 1.8% 1.8% 1.3% 2.8% 2.2% 1.4% 1.0% 2.6% 2.0% 2.1% 1.6% 2.9% 2.3% 1.5% 1.0% 2.2% 1.5% 1.7% 0.9% 2.2% 2.0% 1.8% 1.6% 1.4% 1.2% 1.0% 0.8% 2.1% 1.9% 1.7% 1.8% 1.7% 1.6% 1.4% 1.3% 1.2% 0.9% Q1FY10 Q2FY11 Q2FY12 Q2FY13 Q2FY14 Gross NPA % Net NPA % Series1 Series2 Significant variability in NPA profile quarter to quarter due to lumpy income profile of the non-salaried segment, so NPAs look high in some quarters. Variability in NPA profile not representative of asset quality given conservative underwriting policies of the Company However, a comparison of the second quarter (Q2) NPAs for the last 5 years shows the same is trending down Repco Home Finance Limited Corporate Presentation November

22 ICRA upgrades long term rating to AA- Figures in Rs million Sources of borrowing Sources (as on 30 Sept 13) Amount Repco Bank Ltd, 7% National Housing Bank, 30% Banks 20,830 National Housing Bank 9,970 Repco Bank Ltd 2,400 Total 33,190 Banks, 63% During the quarter, ICRA upgraded the rating assigned to RHFL s term loans from banks from A+ to AA- with stable outlook. CARE assigned AA- to long term loans. The non convertible debenture (NCD) programme of the company has been assigned a rating of AAand commercial paper has been rated A1+ by ICRA and CARE. Category ICRA Rating CARE Rating Term loans from banks AA- AA- Non convertible debenture AA- AA- Commercial paper A1+ A1+ Repco Home Finance Limited Corporate Presentation November

23 Historical Financial Performance

24 Strong loan book growth Figures in Rs million Loan book Sanctions and disbursements 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 9,906 38% CAGR 14,080 20,753 28,041 35,448 14,000 12,000 10,000 8,000 6,000 4,000 2,000 4,730 4,284 6,490 5,831 9,918 9,156 11,116 10,423 12,848 11,674 - FY09 FY10 FY11 FY12 FY13 - FY09 FY10 FY11 FY12 FY13 Sanctions Disbursements Mix of loan portfolio 100% 80% 16.4% 16.2% 14.9% 14.0% 14.9% 60% 40% 83.6% 83.8% 85.1% 86.0% 85.1% 20% 0% FY09 FY10 FY11 FY12 FY13 Individual home loans Loans against property Repco Home Finance Limited Corporate Presentation November

25 Driving robust income and earnings growth Figures in Rs million Income from operations Net interest income 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, ,057 1,400 1,256 38% CAGR 3,188 1,200 1,032 36% CAGR 1, , , , FY09 FY10 FY11 FY12 FY13 FY09 FY10 FY11 FY12 FY13 Net profit % CAGR FY09 FY10 FY11 FY12 FY13 Repco Home Finance Limited Corporate Presentation November

26 And healthy margins and returns Net interest margins Return on average networth 6.0% 5.0% 4.0% 4.5% 5.4% 4.9% 4.2% 4.0% 30.0% 25.0% 20.0% 18.7% 25.5% 26.5% 22.8% 24.0% 3.0% 15.0% 2.0% 10.0% 1.0% 5.0% 0.0% FY09 FY10 FY11 FY12 FY13 Return on assets 0.0% FY09 FY10 FY11 FY12 FY13* *RoANW for FY13 calculated by removing money raised in IPO CRAR 4.0% 3.5% 3.0% 2.5% 2.0% 3.3% 3.7% 3.3% 2.5% 2.5% 30.0% 25.0% 20.0% 15.0% 25.0% 21.1% 18.2% 16.5% 25.5% 1.5% 1.0% 0.5% 10.0% 5.0% 0.0% FY09 FY10 FY11 FY12 FY13 0.0% FY09 FY10 FY11 FY12 FY13 Repco Home Finance Limited Corporate Presentation November

27 Outlook & Strategy

28 Profitable growth with increased market presence Customer Focus on underserved nonsalaried segment Increase penetration through better customer engagement Profitability Access low cost and diversified sources of funds Maintain low operating costs Stable net interest margins and returns Growth Strategy Coverage Deeper penetration in Southern region markets and expansion in other regions Open new branches every year 2/3 rd in South and 1/3 rd in other states Process Robust credit appraisal process Maintaining strong asset quality through continued focus on risk management Product Variety of home loan products as well as loan against property Customize products as per requirements of borrowers Repco Home Finance Limited Corporate Presentation November

29 Annexure

30 Shareholding pattern As on Sept 30, 2013 Outstanding shares million NRIs/Foreig n Individuals/ Non Resident Companie s, 35.8% Promoters, 37.4% DII, 15.9% Others, 4.8% FII, 6.3% Major Non-Promoter Shareholders % shareholding Carlyle (First Carlyle Growth VI) WCP Holdings III 9.96 Creador I, LLC 7.46 SBI Emerging Business Fund 3.65 Nomura India Investment Fund 2.00 Bengal Finance & Investment 1.29 Reliance Capital 1.22 Citigroup Global Markets 1.09 Repco Home Finance Limited Corporate Presentation November

31 H1 and Q2 FY 14 Results P&L (Rs million) Q2FY14 Q2FY13 Q1FY14 YoY QoQ H1FY14 H1FY13 YoY Interest Income 1, ,143 31% 9% 2,387 1,825 31% Interest Expenses % 7% 1,490 1,254 19% Net Interest Income % 11% % Non-interest Income % 14% % Operating Expenses % 2% % Provision for Contingencies % 82% % Provision for NPAs 37 (12) 91 NA -59% % Bad Debt Written Off PBT % 33% % Tax Expense % 41% % PAT % 31% % Loan (Rs million) Q2FY14 Q2FY13 Q1FY14 YoY QoQ H1FY14 H1FY13 YoY Sanctions 4,862 3,780 3,575 29% 36% 8,437 5,669 49% Disbursements 4,259 3,107 3,338 37% 27% 7,597 4,950 53% Loan Book 40,356 30,978 37,467 30% NA 40,356 30,978 30% Repco Home Finance Limited Corporate Presentation November

32 Balance sheet Sept 30, 2013 (Rs million) Sept 13 Sept 12 YoY EQUITY AND LIABILITIES: Share Capital % Reserves and Surplus 6,238 2, % Networth 6,860 3, % Long-term borrowings 24,206 19,684 23% Short-term borrowings 2,988 3,067-3% Other current liabilities 6,514 5,030 30% Provisions % Total 41,077 31,491 30% ASSETS: Fixed assets % Investments % Deferred tax assets (net) % Cash and Bank Balances % Housing loans 40,356 30,978 30% Other loans and advances % Other current assets % Total 41,077 31,491 30% Repco Home Finance Limited Corporate Presentation November

33 Key ratios For period ended Sep 13 Sept 12 June 13 Mar 13 Yield 12.6% 12.4% 12.6% 12.3% Cost of Debt 9.3% 9.6% 9.4% 9.6% Spread 3.3% 2.8% 3.2% 2.8% NIM 4.7% 3.9% 4.7% 4.0% Cost to Income 15.7% 15.4% 16.4% 17.3% Return on Assets 2.7% 2.4% 2.7% 2.5% Return on Equity 20.6% 22.8% 18.8% 24.0% Gross NPA 1.67% 2.12% 2.22% 1.48% Net NPA 0.92% 1.59% 1.52% 0.99% Provision Coverage 45.3% 25.3% 32.1% 33.7% CAR 25.3% 15.9% 24.8% 25.5% Loan book break-up - Non Salaried 54.0% 52.8% 53.4% 53.1% - Salaried 46.0% 47.2% 46.6% 46.9% - Individual Home Loans 83.7% 86.0% 84.7% 85.1% - Loans against Property 16.3% 14.0% 15.3% 14.9% Repco Home Finance Limited Corporate Presentation November

34 FY13: Profit and loss statement P&L (Rs million) FY13 FY12 YoY (%) Income: Revenue from operations 4,057 3, % Other Income 3 1 Total Income 4,060 3, % Expenses: Interest and other Financial Charges 2,657 2, % Employee benefit expense % Depreciation and amortization expense % Other expenses % Provision for Non-Performing Assets % Provision for Standard Assets % Provision for Diminution in Value of Investment - - Bad-Debts Written Off 2 NIL Total Expenses 2,992 2, % Profit before tax 1, % Tax expense: Current tax % Deferred tax (33) (52) Net Profit/(Loss) % Repco Home Finance Limited Corporate Presentation November

35 Last 5 years - Key metrics Particulars Units FY09 FY10 FY11 FY12 FY13 Outstanding Loan Book Rs mn 9,906 14,080 20,753 28,041 35,448 Sanctions Rs mn 4,730 6,490 9,918 11,116 12,848 Disbursements Rs mn 4,284 5,831 9,156 10,423 11,674 Income from Operations Rs mn 1,128 1,636 2,256 3,188 4,057 Net Interest Income Rs mn ,032 1,256 PAT Rs mn Networth Rs mn 1,550 1,931 2,450 2,953 6,233 Debt Rs mn 8,493 12,577 18,098 24,860 30,647 Loan Book Composition: Salaried % Non-Salaried % NIM % Gross NPA % Net NPA % ROA % ROANW % CRAR % Repco Home Finance Limited Corporate Presentation November

36 Contact us For any Investor Relations queries, please contact: V. Raghu, Executive Director/ Bala Ganpathy, Chief Manager, Investor Relations Repco Home Finance Limited Phone: Pooja Dokania/Seema Shukla Phone: / Safe Harbor: This presentation may have certain statements that may be forward looking including those relating to general business plans and strategy of Repco Home Finance Ltd., (RHFL), its future outlook and growth prospects. The actual results may differ materially from these forward looking statements due to a number of risks and uncertainties which could include future changes or developments in RHFL, the competitive environment, the company s ability to implement its strategies and initiatives, respond to technological changes as well as sociopolitical, economic and regulatory conditions in India. All financial data in this presentation is obtained from the audited financial statements and the various ratios are calculated based on these data. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, invitation or a solicitation of any offer, to purchase or sell, any shares of RHFL and should not be considered or construed in any manner whatsoever as a recommendation that any person should subscribe for or purchase any of RHFL s shares. None of the projection, expectations, estimates or prospects in this presentation should be construed as a forecast implying any indicative assurance or guarantee of future performance, nor that the assumptions on which such future projects, expectations, estimates or prospects have been prepared are complete or comprehensive. This presentation is for information purposes only. This document and its contents should not forwarded or delivered or transmitted in any manner to any person other than its intended recipients, and should not be reproduced in any manner whatsoever. The recipients further represents and warrants that : (i) It is lawfully able to receive this presentation under the laws of the jurisdiction in which it is located, and / or any other applicable laws, (ii) It is not a U.S. person, (iii) This presentation is furnished to it, and has been received, outside of the United States, and (iv) It will not reproduce, publish, disclose, redistribute or transmit this presentation, directly or indirectly, into the United States or to any U.S. person either within or outside of recipient s organisation. Repco Home Finance Limited Corporate Presentation November