| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 323 | | Target | | | | | 400 | | Reco | | | | | BUY | | Net Interest Income | 29,397 | 31,469 | 34,258 | 37,837 | 49,535 | | Growth (%) | | 7 | 9 | 10 | 31 | | Pre-provision Profit | 25,539 | 28,560 | 30,370 | 30,394 | 39,773 | | Net Interest Margin | 2.4 | 2.1 | 2.0 | 1.8 | 2.1 | | Net Profit | 14,133 | 15,060 | 14,347 | 5,617 | 14,291 | | Growth (%) | | 7 | -5 | -61 | 154 | | EPS, Rs | 95 | 102 | 94 | 34 | 85 | | ABVPS, Rs | 463.1 | 517.6 | 502.6 | 420.7 | 448.0 | | PER, x | 3.4 | 3.2 | 3.4 | 9.6 | 3.8 | | P/BV, x | 0.7 | 0.6 | 0.5 | 0.5 | 0.5 | | ROA, % | 1.1 | 1.0 | 0.8 | 0.3 | 0.6 | | ROE, % | 21.9 | 19.5 | 16.1 | 5.7 | 13.5 |
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