Five Star Business Management Guidance Tracker

11 forward-looking guidance items tracked across 3 quarters.

Growth

Q2 FY26Full-year AUM growth of 25%Active

Management reiterated 25% AUM growth guidance for FY26, expecting stronger H2 performance.

Q3 FY26No specific growth guidance for FY27Tracked

Management declined to provide growth or disbursement guidance, stating they will share numbers after Q4 results once collection setup is fully in place.

Q4 FY26AUM growth of ~20% for FY27Tracked

Management expects AUM to grow around 20% in FY27, driven by pent-up demand and improved collections.

Q4 FY26Disbursements target of ₹6,200-6,400 crore for FY27Tracked

To achieve 20% AUM growth, disbursements need to be around ₹6,200-6,400 crore, up from ~₹5,000 crore in FY26.

Margins

Q2 FY26Credit cost guidance of 1.25-1.35% for FY26Active

Credit cost as % of total assets expected in 1.25-1.35% range; on AUM basis ~1.5-1.6%.

Q2 FY26Spread guidance of 13-13.5% on steady stateTracked

Management expects spreads to stabilize at 13-13.5% as cost of funds declines and yields moderate.

Q3 FY26Cost of funds expected to decline further by 10-15bpsActive

Incremental debt cost at 8.19% and repo rate cut transmission should reduce book cost by another 10-15bps over next 3-6 months.

Q4 FY26Credit cost guidance of 1.7-1.75% for FY27Tracked

Credit cost expected to be 1.7-1.75% of average AUM, with steady state of 1.5-1.6% over next 2-3 years.

Q4 FY26ROA of 8.25-8.5% for FY27Tracked

Return on average assets expected to be in the range of 8.25-8.5% for the current financial year.

Expansion

Q2 FY26Housing loan portfolio of ~₹150 crore by FY26-endTracked

New housing product launched; targeting ₹150 crore AUM by March 2026.

Other

Q3 FY26Asset quality improvement expected in Q4 and thereafterActive

Management expects visible improvement in slippages and stage 3 assets from Q4 FY26 onwards as collection efforts bear fruit.