Latest news with #JLG
The Star
23-05-2025
- Business
- The Star
JLand Group and Eco World International to jointly explore real estate projects in Malaysia and Australia
From left: JLand Group managing director Datuk Sr. Akmal Ahmad, JLand Group managing director, property development Zamri Yusof, EcoWorld International Bhd (EWI) president & CEO Datuk Teow Leong Seng and EWI Chairman Cheah Tek Kuang. KUALA LUMPUR: JLand Group (JLG), the real estate and infrastructure arm of Johor Corp (JCorp), and Eco World International Bhd (EWI) have signed a framework agreement to explore joint real estate development opportunities in Malaysia and Australia. In a joint statement, the companies said the agreement reflects a shared ambition to unlock strategic value across both markets by leveraging the strengths of two forward-looking development platforms. The non-binding agreement, signed through JLG Investment Holdings Sdn Bhd, paves the way for both parties to jointly evaluate high-potential projects and explore appropriate partnership structures for sites owned or identified by either side. JLG has shown interest in EWI's residential site at Macquarie Park, a prime location just 18 kilometres from Sydney's central business district. Meanwhile, EWI is considering involvement in a proposed 300-acre industrial development within Ibrahim Technopolis (IBTEC), JLG's flagship integrated township in Sedenak, Johor. Situated within the Johor-Singapore Special Economic Zone (JS-SEZ), IBTEC benefits from over RM34bil in committed investments. JLand Group managing director Datuk Sr Akmal Ahmad said the framework agreement marks the next chapter in the company's deliberate regional growth strategy. 'Macquarie Park presents an opportunity to build on the momentum we've established in Australia, while IBTEC offers a compelling platform for global collaboration here in Johor. 'We remain firmly focused on our core mission to drive high-impact, sustainable development locally, and continue creating investor-ready ecosystems that attract the confidence of listed partners with international reach like EWI. This potential partnership reflects our commitment to scale with the right collaborators who share our long-term vision, values, and execution discipline,' he said in the statement. EWI president and CEO Datuk Teow Leong Seng said: 'We are equally excited about the opportunity to participate in a strategic development within IBTEC, which is already among the country's most prominent smart and sustainable industrial zones.' 'We look forward to working with JLG to create opportunities that attract high-value industrial players. The framework agreement creates a platform for us to explore how we can pool our combined capabilities, strengths, and resources to capture a larger share of the rapidly growing industrial demand in the Johor-Singapore Special Economic Zone and Iskandar Malaysia as a whole,' Teow said. Should the collaboration progress to formal agreements, it will represent EWI's first entry into Malaysian real estate development, and a continued regional stride for JLG—affirming that the group's formula for integrated, sustainable growth continues to resonate beyond domestic borders.
Time of India
04-05-2025
- Business
- Time of India
Personal loans & credit card stress has moderated, but microfinance pain persists', Kotak CEO Vaswani says
Private lender Kotak Mahindra Bank is re-evaluating its long-term approach to the microfinance sector , citing limitations in the traditional joint liability group (JLG) model. In an interview, managing director and chief executive Ashok Vaswani tells Saloni Shukla that fiscal 2026 may bring new challenges due to global trade tensions and geopolitical risks . Edited excerpts: #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad You've completed one full fiscal year at Kotak. How do you see it? There were speed bumps and headwinds that hit us last year, whether it was microfinance, unsecured loans or the technology ban. We are systematically working our way through each of these. Some issues are now completely behind us, and some need a bit more work. But every day isn't going to be rosy. Overall, I remain very bullish. I still believe that the journey we've embarked upon is the right one. Play Video Play Skip Backward Skip Forward Mute Current Time 0:00 / Duration 0:00 Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions and subtitles off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Vietnam (Take A Look At The Prices) Container House Search Now Undo What are your expectations for FY26? I think many of the headwinds we faced in FY25 are now behind us, allowing us to grow more aggressively. That said, new challenges may emerge. For instance, we'll need to adjust our business model in response to changes in repo rates. Tariff tensions under (US President Donald) Trump and broader geopolitical uncertainties are also unknowns. But our North Star is now defined and once the engine is moving in the right direction, acceleration becomes much easier. I'm hopeful we can ramp up quickly and avoid too many distractions. What's your strategy for microfinance? Live Events In the last two quarters, microfinance caused a lot of pain. Will it continue for one more quarter? Absolutely. Possibly two. That said, the business still made money, we didn't lose any. The real question is about scale. A business that is this cyclical shouldn't grow to a size where it keeps you up at night. We know this sector tends to blow up every 3-5 years. We need to find a way to temper that volatility. How do you plan to do that? We need to ask ourselves, is what we're seeing now cyclical, or structural? The JLG model can no longer be relied on for protection. If we're going to evaluate each customer individually, we have to consider how many of them have credit histories or are captured by credit bureaus. Then comes the question, what's the cost of such credit assessments, and how does that impact the business model? This is a business model that has to be rethought. Is the stress on unsecured lending easing overall? Stress in personal loans has come down. Credit card concerns have plateaued. In microfinance, however, we're still seeing stress. We've already reduced our exposure significantly. In Q1, there could still be some elevated stress, but we expect some relief after that. With the credit card embargo now lifted, how do you plan to grow that business? We love the credit card business and customers love their cards too. The real question now is how to offer a range of cards that appeal to various customer segments. So yes, we're reworking our credit card strategy and plan to pursue a much more aggressive approach in the coming months. FY25 saw notable leadership attrition at Kotak. How are you addressing this? Some of these people had been with us for a long time. They got new opportunities and that's okay. We have enough bench strength to manage the transition. A certain level of fresh thinking is a good thing. You explored IDBI Bank . IndusInd Bank is also facing issues. Is M&A a real possibility for Kotak? M&A is definitely an important route for us. But any such transaction must fit both strategically and financially. Just because we have the capital doesn't mean we'll do a deal for the sake of it. We evaluate every opportunity that comes our way, and if it mee-ts both those criteria, we'll go ahead.
Business Standard
28-04-2025
- Business
- Business Standard
RBL Bank spurts as asset quality improves
RBL Bank jumped 8.49% to Rs 203.75 after the bank reported a reduction in its gross non-performing assets (GNPA) and net non-performing assets (NNPA) ratios in Q4 March 2025. The private lender's standalone net profit tumbled 80.52% to Rs 68.70 crore in Q4 FY25 as against Rs 352.64 crore posted in Q4 FY24. Total income increased 6.19% year on year (YoY) to Rs 4,475.60 crore in the quarter ended 31 March 2025. Profit before tax tanked 83.93% to Rs 76.05 crore in the fourth quarter of 2025 as against Rs 473.24 crore posted in the year-ago period. Operating profit in the quarter ended March 2025 was at Rs 861 crore, down 2.93% from Rs 887 crore recorded in Q4 FY24. Net interest income degrew 2% YoY to Rs 1,563 crore in the quarter ended 31 March 2025. Net interest margin (NIM) reduced to 4.89% in Q4 FY25, compared to 5.45% reported in the same quarter a year ago. Provisions (other than tax) and contingencies surged 89.74% YoY to Rs 785.14 crore during the fourth quarter of FY25. On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,465 crore as of 31 March 2025, compared to Rs 2,271 crore as of 31 March 2024. Encouragingly, early signs of improvement in asset quality have emerged, with gross slippages declining by 130 basis points quarter-on-quarter to 1.15%. The GNPA ratio improved to 2.60% as of 31 March 2025, as against 2.65% a year earlier. Additionally, the net NPA ratio significantly improved to 0.29%, compared to 0.74% as of 31 March 2024. The provision coverage ratio, including technical write-offs, was at 96.4% as of 31 March 2025, as against 89.8% as of 31 March 2024. As of 31 March 2025, net advances were at Rs 92,618 crore, registering a growth of 10% YoY, while deposits grew by 7% YoY to Rs 110,944 crore. CASA deposits stood at Rs 37,886 crore as of 31 March 2025, up 4% YoY. The CASA ratio reduced to 34.1% as of 31 March 2025, compared to 35.2% as of 31 March 2024. Capital adequacy was 15.54%, and the common equity tier 1 ratio was 14.06% as of 31 March 2025. The average liquidity coverage ratio came in at 133% for Q4 FY25. As of 31 March 2025, the bank has 2,033 total touchpoints, of which 561 are bank branches and 1,472 are business correspondent branches, of which 296 are banking outlets. R. Subramaniakumar, MD & CEO, RBL Bank, said, "We have navigated a complex environment with resilience and focus, delivering strong momentum in secured retail and commercial banking while deepening our base of granular, sticky deposits. With proactive, prudent provisioning on the JLG loan portfolio, the bank is entering FY26 with a clean slate for the JLG business. Our secured retail and wholesale portfolios have now seen eight consecutive quarters of near-zero credit costs. The core engine remains strongdriven by disciplined execution, profitability-led growth, and a sharp customer focus. Were pleased to close the year with steady performance and continued progress on our key priorities." Meanwhile, RBL Banks board has recommended a dividend of Rs 1 per share (10%) for the financial year ended 31 March 2025. RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals, namely corporate & institutional banking, commercial banking, branch & business banking, retail assets, and treasury and financial markets operations.
Mint
28-04-2025
- Business
- Mint
Why did RBL Bank share price jump 7% despite an 80% drop in Q4 net profit? Key reasons explained
RBL Bank share price today: Despite a sharp drop of over 80% in its consolidated net profit for Q4FY25 (March quarter), RBL Bank's share price kicked off Monday's trading session positively and continued to build on gains during early trade, spiking 7% to the day's high of ₹ 201.25 per share. Even with the significant fall in net profit, the numbers came in line with analysts' estimates. Domestic brokerage firm Centrum Broking said that RBL Bank's results for Q4FY25 were broadly in line with their expectations, with a beat on non-interest income (NII), offset by elevated credit costs — a recurring theme. Notably, the bank increased its PCR by 700 basis points QoQ to 89%, thanks to the utilization of contingent provisions ( ₹ 2.73 billion). Encouragingly, there are early signs of asset quality improvement: gross slippages declined 130 basis points QoQ, and the SMA pool for the JLG book reduced to ₹ 3.8 billion from ₹ 5.5 billion. Combined with seasonal recovery tailwinds, this led to improvements in GNPA and NNPA ratios, which are now at 2.6% and 0.3%, respectively, the brokerage said. Management's commentary suggests that the worst of the credit cost cycle is behind us, and FY26 is expected to be materially better in terms of growth and profitability. The brokerage acknowledged the strengthening of the balance sheet and early operational improvements. Additionally, it aligns with the view that the MFI cycle is turning, setting the stage for stronger business momentum and lower credit costs in 2HFY26. Motilal Oswal increases its EPS estimates by 12% each for FY26/FY27, as business growth is gaining traction and slippages are expected to normalize by 2QFY26. Motilal Oswal also estimates the C/I ratio to improve to 61% by FY27. The firm estimates FY26E RoA/RoE at 1.2%/12.8%. Motilal Oswal upgrades RBL Bank from Neutral to Buy with a target price of ₹ 220 (premised on 0.8x FY27E ABV). At an attractive FY27E P/ABV multiple of 0.65x, the brokerage views the risk-reward profile as compelling. Thus, it maintained its 'buy' rating with a revised target price of ₹ 232 (previous target: ₹ 231) at a recommended P/BV multiple of 0.8x. The brokerage's optimistic outlook on the stock is underpinned by sub-par returns below CoE, necessitating a discount to BV; gradual improvement in RoAE and operational efficiency, coupled with current valuations, justifying a positive recommendation; and early signs of stability in asset quality in the unsecured portfolio. One more washout quarter is expected. "RBL Bank reported beat in earnings, with margins remaining broadly stable. Asset quality ratios improved during the quarter, with NNPA on the JLG business being nil, following a 100% provision on this business," said Motilal Oswal. The bank, post-market hours on Friday (April 25), reported a standalone net profit of ₹ 68.7 crore in Q4FY25 (March quarter). In the same period last year, the bank reported a net profit of ₹ 353 crore, reflecting an 80.5% drop on a YoY basis, impacted by higher credit costs, which came in at 3.4% vs. 2.0% in Q4FY24 and 5.3% in Q3FY25. On a sequential basis, the net profit improved, rising from ₹ 33 crore posted in the December quarter. NII came in at ₹ 1,560 crore (down 2.5% YoY/down 1.3% QoQ), in line with Centrum Broking estimates of ₹ 1,580 crore. PPoP stood at ₹ 880 crore, down 2.3% YoY/up 1.3% QoQ, owing to an uptick in NII, which was better than the brokerage expectations of ₹ 810 crore. RBL Bank has guided for 16–18% loan growth in FY26, led by 25–30% growth in the secured RA segment and 10–12% in wholesale. The brokerage expects NIMs may face pressure in FY26, and OPEX growth will remain controlled.
Business Standard
26-04-2025
- Business
- Business Standard
RBL Bank PAT drops 81% YoY to Rs 69 crore in Q4 FY25; provisions zoom by 90% YoY
The private lender's standalone net profit tumbled 80.52% to Rs 68.70 crore in Q4 FY25 as against Rs 352.64 crore posted in Q4 FY24. However, total income increased 6.19% year on year (YoY) to Rs 4,475.60 crore in the quarter ended 31 March 2025. Provisions (other than tax) and contingencies surged 89.74% YoY to Rs 785.14 crore during the fourth quarter of FY25. Profit before tax tanked 83.93% to Rs 76.05 crore in the fourth quarter of 2025 as against Rs 473.24 crore posted in the year-ago period. Net interest income degrew 2% YoY to Rs 1,563 crore in the quarter ended 31 March 2025. Net interest margin (NIM) reduced to 4.89% in Q4 FY25, compared to 5.45% reported in the same quarter a year ago. Operating profit in the quarter ended March 2025 was at Rs 861 crore, down 2.93% from Rs 887 crore recorded in Q4 FY24. On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,465 crore as of 31 March 2025, as against Rs 2,271 crore as of 31 March 2024. The GNPA ratio reduced to 2.60% as of 31 March 2025, as against 2.65% as of 31 March 2024. The net NPA ratio stood at 0.29% as of 31 March 2025, compared to 0.74% as of 31 March 2024. The provision coverage ratio, including technical write-offs, was at 96.4% as of 31 March 2025, as against 89.8% as of 31 March 2024. As of 31 March 2025, net advances were at Rs 92,618 crore, registering a growth of 10% YoY, while deposits grew by 7% YoY to Rs 110,944 crore. CASA deposits stood at Rs 37,886 crore as of 31 March 2025, up 4% YoY. The CASA ratio reduced to 34.1% as of 31 March 2025, compared to 35.2% as of 31 March 2024. Capital adequacy was 15.54%, and the common equity tier 1 ratio was 14.06% as of 31 March 2025. The average liquidity coverage ratio came in at 133% for Q4 FY25. As of 31 March 2025, the bank has 2,033 total touchpoints, of which 561 are bank branches and 1,472 are business correspondent branches, of which 296 are banking outlets. R. Subramaniakumar, MD & CEO, RBL Bank, said, We have navigated a complex environment with resilience and focus, delivering strong momentum in secured retail and commercial banking while deepening our base of granular, sticky deposits. With proactive, prudent provisioning on the JLG loan portfolio, the bank is entering FY26 with a clean slate for the JLG business. Our secured retail and wholesale portfolios have now seen eight consecutive quarters of near-zero credit costs. The core engine remains strongdriven by disciplined execution, profitability-led growth, and a sharp customer focus. Were pleased to close the year with steady performance and continued progress on our key priorities. Meanwhile, RBL Banks board has recommended a dividend of Rs 1 per share (10%) for the financial year ended 31 March 2025. RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals, namely corporate & institutional banking, commercial banking, branch & business banking, retail assets, and treasury and financial markets operations. The scrip declined 5.30% to close at Rs 187.80 on Friday, 25 April 2025.
