| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 900 | | Target | | | | | 1050 | | Reco | | | | | BUY | | Net Interest Income | 29,109 | 31,904 | 33,908 | 33,759 | 41,418 | | Growth (%) | | 10 | 6 | -0 | 23 | | Pre-provision Profit | 23,724 | 26,492 | 28,670 | 28,621 | 32,264 | | Net Interest Margin | 9 | 8 | 8 | 7 | 7 | | Net Profit | 12,299 | 12,574 | 13,606 | 12,642 | 13,900 | | Growth (%) | | 2 | 8 | -7 | 10 | | EPS, Rs | 54 | 56 | 60 | 56 | 61 | | ABVPS, Rs | 216.8 | 264.8 | 317.1 | 364.6 | 416.2 | | PER, x | 17 | 16 | 15 | 16 | 15 | | P/BV, x | 4 | 3 | 3 | 2 | 2 | | ROA, % | 4 | 4 | 3 | 3 | 3 | | ROE, % | 28.1 | 23.1 | 20.6 | 16.3 | 15.7 |
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