This document is the transcript of the Q1 FY27 Earnings Conference Call for IDFC FIRST Bank, conducted after the meeting of the Board of Directors held on July 25, 2026. The call was hosted on a Saturday evening.

Management Participants:

  • Mr. V. Vaidyanathan – Managing Director and Chief Executive Officer
  • Mr. Sudhanshu Jain – Chief Financial Officer
  • Mr. Saptarshi Bapari – Head Investor Relations & ESG

Financial Highlights & Key Updates:

  • Business Momentum: Customer business (deposits + funded assets) crossed INR 6 lakh crores, growing 20% YoY.
  • Loan Book: Grew 20.6% YoY to INR 3.05 lakh crores. Retail, Agri, MSME book at INR 2.4 lakh crores (18% YoY growth). Wholesale book at INR 64,000 crores (30% YoY growth).
  • Asset Quality: Gross NPA improved 10 bps QoQ to 1.51%. Net NPA improved 4 bps QoQ to 0.44%. Gross slippages reduced 2% QoQ and 30% YoY. Collection efficiency stable at 99.5%.
  • Deposits: Customer deposits grew 16.6% YoY to nearly INR 3 lakh crores. CASA ratio improved to 50.8%; CASA deposits reached INR 1.58 lakh crores.
  • Profitability: Net profit reached a record INR 1,075 crores, up 132% YoY. Net Interest Income (NII) grew 21.1% YoY.
  • Margins: Net Interest Margin (NIM) was 5.96%. Adjusted for one-offs (8 bps benefit in Q4, 6 bps from tax refund in Q1), NIM improved 5 bps QoQ to 5.90%.
  • Credit Cost: Improved to 1.53%. The bank created a contingency provision of INR 515 crores as a prudent measure against macroeconomic and geopolitical uncertainties.
  • Capital Adequacy: Capital Adequacy Ratio at 15.05% with CET1 at 13.33%.

Guidance & Outlook (as updated during the call):

  • NIM: Full-year NIM guidance upgraded to ~5.8% from previous 5.75%.
  • Credit Cost: Full-year credit cost guidance revised down to 150-160 bps from previous 170-180 bps.
  • ROA: The bank is now targeting a Return on Assets (ROA) of 1% for FY27.
  • Opex: Aim to maintain the operating jaw (difference between income and opex growth) of 500 bps.

Compliance Statement:

The transcript is a disclosure made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document itself does not contain any unpublished price sensitive information (UPSI) beyond what was discussed in the public earnings call.

Additional Notes Section

The transcript is a detailed record of the earnings call, including the management presentation and the full Q&A session with analysts. The document was filed with the exchanges and is also available on the bank's website. No standalone financial data was disclosed in this specific intimation; it refers to the results announced previously. The transcript contains the complete management commentary and analyst interactions.