| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 154 | | Target | | | | | 200 | | Reco | | | | | BUY | | Net Interest Income | 40,361 | 44,180 | 45,291 | 43,604 | 51,425 | | Growth (%) | | 9 | 3 | -4 | 18 | | Pre-provision Profit | 32,917 | 34,632 | 30,613 | 29,006 | 32,789 | | Net Interest Margin | 4 | 3 | 3 | 3 | 3 | | Net Profit | 17,141 | 17,993 | 15,811 | 11,589 | 13,209 | | Growth (%) | | 5 | -12 | -27 | 14 | | EPS, Rs | 40 | 42 | 37 | 25 | 28 | | ABVPS, Rs | 178.0 | 195.4 | 204.1 | 186.2 | 189.7 | | PER, x | 4 | 4 | 4 | 6 | 5 | | P/BV, x | 1 | 1 | 1 | 1 | 0 | | ROA, % | 2 | 1 | 1 | 1 | 1 | | ROE, % | 23.5 | 21.0 | 16.1 | 10.5 | 11.0 |
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