FY18 FINANCIALS MARCH 31, 2018

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2 FY18 FINANCIALS MARCH 31, 2018

3 3 INDEX 1. Key Highlights (IDFC Consol) 4 2. Entity wise P&L 5 3. Key Highlights - IDFC Bank 6 4. Highlights IDFC AMC Business Highlights IDFC Infrastructure Finance Business Highlights IDFC SecuritiesFund Snapshot IDFC Alternatives Shareholding 34

4 Key Highlights (IDFC Consol) Net worth CY - ` Cr PY - ` Cr Balance Sheet CY - ` 133,852 Cr PY - ` 117,641 Cr Alternatives Fee paying AUM : ` 9,578 Cr No of Investments : 90 (81) Revenue : ` 97 Cr (` 139 Cr) Loss: ` 8 Cr (PAT ` 19 Cr) Securities Market Share : MF 4.2% PY 4.1% DII 5.2% PY 5.4% FIIs 0.9% PY 1% Revenue : 105 Cr PAT : 23 Cr IDF Total Borrowings : ` 3,596 Cr (` 2,104) Loan Book : ` 4,220 Cr (` 2,683 Cr) PAT : ` 87 Cr (` 71 Cr) AMC QAAUM : ` 69,919 Cr (` 60,636 Cr) Market Share : 3.0% (3.2%) AMC Revenue: ` 318 Cr (` 309 Cr) PAT : ` 54 Cr (` 97 Cr) Consol Profit PBT 1376 cr (PY ` 1791 cr) PAT(after MI and share of associates) 590 Cr (PY ` 699 Cr) Board of IDFC Limited proposed a dividend of Rs per share.

5 5 Entity wise P&L (FY18) (Rs. in crore) Particulars IDFC Bank AMC Alternatives IDF Securities Others # Total Income 208 3, ,129 Operating Expenses 32 1, ,116 Pre Provisioning Operating Profit 176 1, ,013 Provisions 202 PBT before eliminations 1,810 Tax, MI and Others 1,221 PAT 590

6 6 IDFC BANK

7 Key Highlights: FY18 (1 of 2) No. of Customers (Total: 27 lacs IBL customers: 13 lacs) (In lacs) % CASA/Deposits 10.1% 8.2% 6.8% 11.8% Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Customers - excl IBL Customers IBL Customers acquired in Q4 FY18: 309K (B+: 59K; BB: 250K) Mar'17 Jun'17 Sep'17 Dec'17 Mar'18 March 17 (Rs. 70,248 Cr) Retail 4% Stressed Assets 11% PSL Buyout 15% Infrastructure 43% Funded book diversified into Corporates &Retail Corpor ates 27% Stressed Assets 8% March 18 (Rs. 70,932 Cr) Retail 11% PSL Buyout 10% Infrastructu re 34% Corporates 37% CASA 4,906 2,812 2,094 Core Deposits Retail TD 6,281 7,043 3,431 3,843 2,850 3,200 All figures in ` Crores 10,053 8,162 4,343 3,908 5,710 4,254 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 7 Note: Grama Vidiyal (GV) is now renamed as IDFC Bharat Ltd (IBL)

8 Key Highlights: FY18 (2 of 2) Network 18,096 (8,613) Branches: 150 (74) BC & IBL : 387 (350) Merchant points: 17,474 (8,142) ATM: 85 (47) CASA Ratio % (FY17: 5.2%) CASA: ` 5,710 Cr (`2,094 Cr) Retail: ` 1,617 (` 600) Wholesale: ` 4,093 Cr (` 1,495 Cr) Operating Income ` 3,056 Cr (FY17: ` 3,030) NII: ` 1,859 Cr (` 2,076) Non Int: ` 1,197 Cr (` 954) FY18 EPS Book value per share (FY17: ) Funded/Non Funded O/S Funded:`70,932 Cr (FY17:` 70,248) Non-funded: ` 27,905 Cr (FY17: `18,605)` Deposits CASA: ` 5,710 (` 2,094) Term Deposits: ` 22,826 (` 17,970) Certificate of Deposits: ` 19,662 (` 20,144) Cost/Income 54.1% (FY17: 42.1%) HR Cost/Income: 22.9% (FY17: 19.7%) Asset Quality GNPL: 3.3% (FY17: 3.0%) NNPL: 1.7% (FY17: 1.1%) Net RSA: 1.0% (FY17: 1.3%) Net SR: 3.0% (FY17: 3.3%) Asset mix ` 1,29,473 Cr 3 (FY17: ` 1,15,840) Gross Advances Gross Credit Inv. Cash & Bank Statutory Inv. Trading Inv. Other Assets 1,768 Loan NIMs: 2.4% (FY17: 3.1%) PAT 17,179 9,416 19,458 27,899 ` 859 Cr (FY17: ` 1020 Cr) Capital Adequacy 18.00% (FY17: 18.9%) 53,753 Tier 1: 17.67% Tier2: 0.32% Funding mix `105,485 Cr (FY17: ` 90, 470) CASA Retail FD Legacy long term Bonds Corp. fixed deposits Certificate of Deposits CBLO/Repo/LAF Others 5,710 4,343 4,915 Treasury NIMs: 1.1% (FY17: 1.0%) RoA RoE 0.7% 5.7% (FY17:1.0% 7.2%) Headcount 5,814 (FY17: 3,806) 31,839 18,483 19,662 20,534 Including IBL: 9,670 (FY17: 7,338) 8 1. CASA Ratio = CASA/(CASA+FD+CD) Note: ( ) denotes FY17 numbers

9 Balance sheet (reported) grows by 13% YoY; Deposits increase 20% YoY, Gross advances up 9% QoQ In INR Cr. Mar-17 Dec-17 Mar-18 % Growth (QoQ) % Growth (YoY) Shareholders' Funds 14,678 15,208 15,257 0% 4% Deposits 40,208 42,259 48,198 14% 20% Borrowings 50,262 54,506 57,287 5% 14% Other liabilities and provisions 7,011 6,226 5,778 (7%) (18%) Total Liabilities 112, , ,520 7% 13% Cash and Bank Balances 2,202 2,055 1,768 (14%) (20%) Net Retail and Corporate Assets 66,567 63,870 67,979 6% 2% Net Advances 1 49,402 47,127 52,165 11% 6% Gross Advances 51,631 49,398 53,753 9% 4% Less: Provisions (2,229) (2,271) (1,588) (30%) (29%) Credit Investments 17,165 16,743 15,814 (6%) (8%) Credit Book 15,103 14,896 14,016 (6%) (7%) Loan Equity 3,515 3,194 3,163 (1%) (10%) Less: Provision (1,452) (1,347) (1,365) 1% (6%) Statutory Investments 19,264 18,041 19,458 8% 1% CRR 2,900 2,798 3,124 12% 8% SLR 16,364 15,243 16,334 7% (0%) Trading Investments 15,562 25,392 27,899 10% 79% Fixed and Other Assets 8,564 8,841 9,416 7% 10% Total Assets 112, , ,520 7% 13% 9 1. Gross Advances and Provisions are net of Technical write off of Rs. 998 crore. Growth in Advances (ignoring Technical write off) was 11% QoQ and 6% YoY

10 Profit & Loss Statement (reported) In INR Cr FY 17 FY 18 % Growth Q3 FY18 Q4 FY18 % Growth Operating Income 3,030 3,056 1% (25%) Net Interest Income 2,076 1,859 (10%) (16%) Non Interest Income 954 1,197 25% (46%) Fee and Commission % (23%) Trading Gains (Debt & Equity) % 78 (32) NM Other Income % (1) 42 NM Operating Expenses 1,277 1,653 29% % HR % % Non HR % % Pre-Prov Op Profit (Ppop) 1,753 1,403 (20%) (82%) Provisions & Contingencies % % Profit Before Tax 1,471 1,027 (30%) 206 (186) NM Tax (63%) 60 (228) NM Profit After Tax 1, (16%) (71%) 10 Note: Figures for the previous periods have been reclassified for consistency with the current period. All figures in ` Crores

11 11 Funded Assets: Retail grows threefold; Corporate grows 38% In INR Cr. Mar'17 Dec'17 Mar'18 % Growth QoQ % Growth YoY Wholesale 49,477 46,514 50,249 8% 2% Corporate 18,949 21,376 26,059 22% 38% Infrastructure 30,528 25,138 24,190 (4%) (21%) Retail 2,598 5,991 7,966 33% 207% PSL Buyout 10,391 7,670 6,860 (11%) (34%) SRs 2,120 1,997 1,984 (1%) (6%) Stressed Assets 5,662 5,317 4,874 (20%) (25%) Technical Write offs 0 0 (998) n.m. Total 70,248 67,488 70,932 5% 1% Non Funded Assets Particulars Mar-17 Dec-17 Mar-18 % Growth (QoQ) % Growth (YoY) Trade Non Funded 18,605 27,258 27,905 2% 50% Fx 184, , ,428 (8%) 2% Others (23%) (27%) Total 203, , ,690 (7%) 6% Note: Figures for the previous periods have been reclassified for consistency with the current period.

12 12 Funded book diversified into Corporate & Retail March 17 (Rs. 70,248 Cr) March 18 (Rs. 70,932 Cr) Stressed Assets 11% Retail 4% PSL Buyout 15% Corporates 27% Stressed Assets 8% Retail 11% PSL Buyout 10% Corporates 37% Infrastructure 43% Infrastructure 34% Note: Figures for the previous periods have been reclassified for consistency with the current period.

13 13 Wholesale Overview Funded Outstanding Mar-17 Mar-18 % Growth (YoY) A) Wholesale Banking (I+II) 49,477 50,249 2% I ) Corporate Banking (a+b+c+d) 18,949 26,059 38% a) Conglomerates 3,680 3,941 7% b) LC 3,909 5,565 42% c) ELC 3,002 6, % d) Others 8,358 9,724 16% II) Infrastructure 30,528 24,190-21% * Gross position as on 31 Mar 2018 without considering technical write-off of Rs 990 Cr

14 14 Retail Overview Mar 17 Dec'17 Mar'18 YoY Growth (%) Rural 1,379 2,646 3, % JLG (incl BCs) 1,343 2,533 3, % Micro Enterprise Loan % Equipment Hypoth Loan % Micro Housing Loan Others 1,219 3,345 4, % Home Loan 441 1,243 1, % Loan Against Property % Personal Loan % Business Loan NM Business Loan Partnership % Commercial Vehicle % Two-Wheeler Loan % SME % MSME % Retail (Funded) 2,598 5,991 7,966* 207% Non Funded Retail % Retail (Funded + Non Funded) 2,916 6,483 8, % Retail funded grew 3.1x Home Loan grew 3.6X, LAP grew 6.6X, CV grew 5.5X since Mar 17 JLG grew 2.3X since March 17. Quarterly growth at 20% Note: Non Funded includes SME & MSME Note2: DA-622 Cr, PTC 6242 Cr not included

15 Treasury Particular 31-Mar Dec Mar-18 % Growth (QoQ) % Growth(YOY) CRR 2,900 2,798 3,124 12% 8% SLR & Treasury Investments 31,925 40,634 44,236 9% 39% Central Govt. Securities 21,523 26,778 31,526 18% 46% State Govt. Securities 3,332 5,339 7,245 36% 117% Treasury Bill 0 2, % NM Certificate of Deposits NM NM Commercial Paper % 854% Bond and Debentures 5,014 5,228 4,664-11% -7% Mutual Fund 2, NM NM Total 34,826 43,433 47,357 9% 36% 15 All figures in ` Crores

16 Borrowing & Deposit analysis Particulars 31-Mar Dec Mar-18 % Growth (QoQ) % Growth (YoY) Legacy Long Term Bonds 37,140 34,070 31,839-7% -14% CASA 2,094 4,254 5,710 34% 173% Retail Fixed Deposits 2,812 3,737 4,343 16% 54% Corporate Fixed Deposits 15,158 19,520 18,483-5% 22% Certificate of Deposits 20,144 14,748 19,662 33% -2% Others 5,346 3,998 4,915 23% -8% CBLO/Repo/LAF 7,776 16,437 20,534 25% 164% Total Borrowings + Deposits 90,470 96, ,485 9% 17% CBLO/Repo/LAF 9% Mar-17 Mar-18 Others 6% CBLO/Repo/LAF 19% CDs 22% Legacy LT Bonds 41% Others 5% CDs 19% Legacy LT Bonds 30% CASA 5% 16 Corporate FD 17% Retail FD 3% CASA 2% All figures in ` Crores Corporate FD 18% Retail FD 4%

17 17 Strong CASA trend CASA/Deposits 5.2% 6.8% 8.2% 10.1% 11.8% Mar'17 Jun-17 Sep'17 Dec'17 Mar'18 CASA/(Deposits+Borrowings) 2.3% 2.9% 3.2% 4.4% 5.4% Mar'17 Jun-17 Sep'17 Dec'17 Mar'18

18 Strong Core Deposits trend Core Deposits/Deposits 12.2% 15.0% 18.1% 18.9% 20.9% Mar'17 Jun-17 Sep'17 Dec'17 Mar'18 Core Deposits/(Deposits+Borrowings) 5.4% 6.4% 7.1% 8.3% 9.5% 18 Mar'17 Jun-17 Sep'17 Dec'17 Mar'18

19 Profit & Loss Statement (MIS) Particulars FY 17 FY 18 % Growth Operating Income 2,659 2,094 (21%) Net Interest Income 1,654 1,328 (20%) Wholesale 1,168 1,138 (3%) Retail % PSL Drag (23) (148) 553% SRs (33) (140) 318% Stressed Assets (62%) Non Interest Income % Recurring Income % Loan Related Fees % Trade & Cash Management Fees % Client Fx Margins % Wealth Management % Other Retail Fees % Others % IB, DCM & Syndication fees % Other Income (4) 1 (136%) Treasury Income (58%) Treasury NII % Trading Gain (incl MTM) 266 (156) (159%) Operating Expenses 1,237 1,549 25% HR % Non HR % PPOP 1, (62%) Provisions % Asset Sale/one offs % PBT 1,471 1,027 (30%) Tax (63%) PAT 1, (16%) 19 Note: Figures for the previous periods have been reclassified for consistency with the current period.

20 20 Spread Analysis Particulars FY17 FY 18 Yields 9.7% 8.9% WB 10.4% 9.5% Corporate Banking 9.9% 9.0% Infrastructure 10.7% 9.8% Retail 14.7% 12.6% PSL Buyout 8.1% 6.8% SRs 0.0% 0.0% Stressed Assets 6.4% 4.1% Average Cost of Funds 8.2% 7.6% Core Deposits 6.2% 5.6% Corporate Deposits 6.9% 6.5% Legacy Borrowings 8.9% 9.0% Spreads 1.5% 1.3% Note: Figures for the previous periods have been reclassified for consistency with the current period.

21 Stressed Assets Particular Mar'17 Jun-17 Sep'17 Dec'17 Mar'18 Stressed Assets (Net of SRs) 1 5,662 5,564 5,344 5,316 4,874 NPL 1,192 1,189 1,187 2,777 2,769 Others Loans 3,075 3,019 2,960 1, Stressed Equity 1,395 1,356 1,197 1,197 1,178 Provisions (Net of SRs) 3,458 3,458 3,361 3,399 3,707 NPL ,570 1,878 Others Loans 1,475 1,493 1, Stressed Equity 1,121 1, ,015 1,015 PCR 61% 62% 63% 64% 76% NPL (% of stressed assets) 21.1% 21.4% 22.2% 52.2% 56.8% GNPL 2 3.0% 4.1% 3.9% 5.6% 3.3% NNPL 1.1% 1.7% 1.6% 2.5% 1.7% 1. Without considering technical write off : 998 cr 2. Considering technical write-off Note: Figures for the previous periods have been reclassified for consistency with the current period 21

22 22 Financials: Key ratios Q4 FY17 Q3 FY18 Q4 FY18 FY17 FY18 Return on Assets 0.6% 0.5% 0.1% 1.0% 0.7% Return on Equity 4.9% 3.8% 1.1% 7.2% 5.7% EPS (Rs.) Book Value Per Share (Rs.) NIMs 2.0% 1.9% 1.5% 2.1% 1.7% Of which Loan NIMs 3.2% 3.0% 1.7% 3.1% 2.4% Cost/Income 53.4% 56.6% 89.7% 42.1% 54.1% Capital Adequacy Ratio 18.9% 19.2% 18.0% 18.9% 18.0% Of which Tier I 18.5% 18.8% 17.7% 18.5% 17.7% Gross NPL (% of Loans) 3.0% 5.6% 3.3% 3.0% 3.3% NIMs (Ex SSMG): FY 18: 1.8% FY 17: 2.1% Loan NIMs (Ex SSMG) FY 18: 2.9% FY 17: 3.3% Gross NPL: Mar 18 ` 1,779 Cr (Dec 17 ` 1,542 Cr), Net NPL: Mar 18 ` 891 Cr (Dec 17 ` 576 Cr) Net NPL (%) 1.1% 2.5% 1.7% 1.1% 1.7% CASA/Total Deposits 5.2% 10.1% 11.8% 5.2% 11.8% CASA/Gross Advances 4.1% 8.6% 10.6% 4.1% 10.6% Price/Book 1.4x 1.2x 1.1x 1.4x 1.1x

8% 7 Wellington Trust Company National Association FII / FDI 0.7% 8 Reliance Capital MF 0.6% 9 Capital Group Inc FII / FDI 0.6% 10 Kotak MF 0.6% GoI, 7.

23 23 Shareholding pattern % of top 10 shareholders Sr. No Shareholder Name Category % Of total Equity 1 GoI GoI 7.7% 2 Blackrock Fund FII / FDI 1.9% 3 Platinum Investment Management FII / FDI 1.5% 4 Vanguard FII / FDI 1.4% 5 Emerging Markets Funds FII / FDI 0.9% 6 LIC FIs / Insurance Co / Banks 0.8% 7 Wellington Trust Company National Association FII / FDI 0.7% 8 Reliance Capital MF 0.6% 9 Capital Group Inc FII / FDI 0.6% 10 Kotak MF 0.6% GoI, 7.68% FIs / Insurance Co / IDFC (Promoters Bodies Corporate), 52.80% FDI / FII / NRI / FN MF, 3.87% Corporate Bodies, 2.66% Retail, 15.58% Shareholding March'18

24 24 IDFC AMC

Key Highlights Improved fund performance, expansion of retail distribution and

in our growing AUM and diversify Our QAAUM* has grown by 15% year-over-year Equity

achieved during the year: Record equity gross sales, a 4X jump in run rate over the

in distribution: 3X over Q4 17 We launched our first Cat 3 AIF in Jan 18 15% IDFC MF

25 Key Highlights Improved fund performance, expansion of retail distribution and development of core capabilities is helping us retailise, improve equity proportion in our growing AUM and diversify Our QAAUM* has grown by 15% year-over-year Equity AUM proportion has improved from 22% in Mar 17 to 29% in Mar 18 Some key milestones achieved during the year: Record equity gross sales, a 4X jump in run rate over the year Rapid growth in addition of new investor folios: 6X over Q4 17 Steady expansion in distribution: 3X over Q4 17 We launched our first Cat 3 AIF in Jan 18 15% IDFC MF Qrly Avg AUM (INR cr) 60,636 69,919 Q4 '17 Q4 '18 *Quarterly Average Assets Under Management 25

Equity Our Equity assets grew ~45% over the last one year; On the back of strong performance, we now have 5 funds with AUM > INR 1,000 cr vs 2 funds last year Product proportion in Equity AUM* 45%

26 Equity Our Equity assets grew ~45% over the last one year; On the back of strong performance, we now have 5 funds with AUM > INR 1,000 cr vs 2 funds last year Product proportion in Equity AUM* 45% Equity Qrly Avg AUM (INR Cr) 19,943 Mar 18 ELSS, 7% Sterling, 15% Others, 10% Classic, 15% Balanced, 7% Focused, 8% Premier, 32% Infra, 7% 13,773 Mar 17 ELSS, 5% Others, 6% Classic, 8% Dynamic, 4% Sterling, 13% Balanced, 5% Q4 '17 Q4 '18 Premier, 58% *excluding arbitrage funds

- IDFC AA/AA-, 3% 11,992 40,000 30,000 35,124 37,628 Cash Debt AAA Equivalent / AA+, 97% Portfolio Credit Rating Distribution* -

27 Fixed Income We continue to stay focused on increasing our non-cash Fixed Income AUM while maintaining our higher than industry portfolio credit quality 50,000 IDFC MF Fixed Income QAAUM (INR Cr) 6% 49,976 47,115 12,348 Portfolio Credit Rating Distribution* - IDFC AA/AA-, 3% 11,992 40,000 30,000 35,124 37,628 Cash Debt AAA Equivalent / AA+, 97% Portfolio Credit Rating Distribution* - Industry 20,000 AA/AA-, 9% A/ BBB, 3% 10,000 AAA Equivalent/ AA+, 88% - Source: ICRA MFI explorer. * as at 31 Mar 18 Q4 '17 Q4 '18

28 28 IDFC IFL

29 Business Highlights Rs. 2,711 cr ofgross sanctions 28 assets Rs 1,826 cr ofgross disbursements 19assets Loan book grew to Rs 4,220 cr in FY18 from Rs 2,683 cr in FY17; y-o-y increase of 57% Prepayments of Rs 145 cr and repayments of Rs 144 cr Fee income of Rs 5.6 cr Pre-bonus Profit After Tax (PAT) of Rs 89.9 cr exceeded stretched budget Well diversified portfolio across 49 assets in multiple sectors renewables, roads, IT SEZs, healthcare, transmission, captive power, education, telecom infra etc. Healthy asset quality with NIL NPAs Net Incremental funds raised in FY18 by way of Bonds / CPs of Rs 1,491 cr 251 Investors in bonds as of March 31,

30 30 IDFC SECURITIES

31 31 IDFC Securities - Business Highlights Stable market share & Revenues in MF, FII and DII segment Healthy deal pipeline Investment banking Aiming to increase Brokerage revenue

32 32 IDFC ALTERNATIVES

33 IDFC Alternatives - Fund Snapshot Private Equity Infra RE Particular Office Total Fund I * Fun II * Fund III Fund IV IIF1 IIF2 Fund * REYF SCORE Fund Size ` 844 1,858 2, ,837 5, ,721 Number of Investments Number of Exit Events (Full & Partial) * Completely Exited 33 All figures in ` Crore

34 IDFC Shareholding % of Top 10 shareholders Sr No Name Category 31-Mar-17 31-Mar-18 1 Government of India GOI 16.38% 16.37% 2 Sipadan Investments (Mauritius) Ltd. FPI 9.47% 9.

48% 7 Aditya Birla Sun Life Trustee MF 0.56 1.68% 8 Akash Bhansali PUB - 1.63% 9 ICICI Balanced Prudential Fund MF 1.41% 1.21% 10 Platinum Asia Fund FII 1.38% 1.

34 34 IDFC Shareholding % of Top 10 shareholders Sr No Name Category 31-Mar Mar-18 1 Government of India GOI 16.38% 16.37% 2 Sipadan Investments (Mauritius) Ltd. FPI 9.47% 9.47% 3 Theleme Master Fund Limited FPI % 4 Orbis Sicav - Asia Ex-Japan Equity Fund FPI 3.18% 3.69% 5 Ashwin Dhawan PUB 2.62% 3.06% 6 East Bridge Capital Master Fund Limited FPI 2.43% 2.48% 7 Aditya Birla Sun Life Trustee MF % 8 Akash Bhansali PUB % 9 ICICI Balanced Prudential Fund MF 1.41% 1.21% 10 Platinum Asia Fund FII 1.38% 1.20% Shareholding as on 31st Mar, 2017 Shareholding as on 31st Mar, 2018 Corporate Bodies, 3.6% MF, 8.7% GoI, 16.4% Corporate Bodies, 5.91% MF, 16.17% GoI, 16.37% Retail, 17.8% Retail, 24.12% FII / FDI / NRI / FN, 46.9% FII / FDI / NRI / FN, 33.12% FIs / Insurance Co / Banks, 6.5% FIs / Insurance Co / Banks, 4.31%

35 THANK YOU

Q1FY19 FINANCIALS JUNE 30, 2018

Q1FY19 FINANCIALS JUNE 30, 2018 INDEX 1. Key Highlights 4 2. Standalone Financials 6 3. Financial Performance by Legal Entities 7 4. IDFC Bank 8 5. IDFC AMC 24 6. Shareholding Pattern 28 First time adoption