Sammaan Capital Ltd

- The company expects the preferential allotment to IHC to complete soon, with approvals pending from RBI and SEBI, after which share allotment and funds receipt will take about 15 days (Pages 2-3). - Post investment, the company plans to expand rapidly, including branch expansion and product suite diversification (Page 4). - No specific mention of immediate new debt fundraising, but the company has done aggressive borrowing recently with plans to reduce cost of funds (Page 11). - The cost of borrowing is expected to reduce by about 270 basis points within 9 to 12 months after the investment (Page 11). - The future strategy may include increased leverage from current 2.2x to around 4x-4.5x by 2030 to support product suite expansion (Page 9). - There is no explicit mention of additional equity fundraising beyond the preferential allotment to IHC currently in process.

- The company is awaiting regulatory approvals for a preferential allotment to IHC (Investment Holding Company), expected to be completed by March 2027. - Post investment, there will be a strategic shift with consolidation of lending business and expansion into a full suite of mortgage-backed loans and other financial services. - The merger of Sammaan Finserve into Sammaan Capital is a key part of this strategy to facilitate growth and diversify products. - Expansion is planned into Tier 3 and Tier 4 cities with about 10 new branches added per quarter currently, expected to accelerate significantly after the investment. - The company aims to build technology-driven platforms improving operational efficiency by 15-18% cost savings, with digital onboarding and underwriting. - No specific capex figures disclosed yet; major investments are planned post-investment, focusing on product suite expansion and broader lending. - Overall, the future capital use is towards growth, branch network expansion, product diversification, and technology enhancement.

- Management is close to completing a strategic shift in operations aligned with an impending investment. - Current core mortgage product expected to maintain stable credit cost, but specific revenue guidance is withheld until the new strategy is finalized. - Post-investment, expect expanded product suite which may impact credit costs and revenue streams. - Business volumes in co-lending arrangements expected to grow steadily, reaching original levels by May/June 2026. - Expansion into Tier 3 and Tier 4 cities planned, with a blueprint to cover 400-500 cities over the next 2 years. - Pace of branch rollout currently calibrated at about 10 per quarter, expected to accelerate after investment. - The technology platform upgrades aim at 15%-18% operating cost savings, supporting volume growth. - Overall, revenue growth guidance will be detailed post-investment, reflecting broader product strategy and scale-up plans.

- The company anticipates a strategic shift post the proposed investment by IHC, with detailed plans to be shared after the transaction completes, implying potential changes in revenue streams. - Current revenue guidance is limited as they are close to a strategic pivot; thus, meaningful revenue projections will follow once the new strategy and wider product suite are outlined. - The focus remains on an asset-light model with expansion into diverse loan products, potentially increasing yields and overall profitability. - Annualized credit cost is expected to remain around 100 basis points for the existing mortgage product suite, supporting stable credit expenses. - Cost savings on operating expenses of 15%-18% are expected from technology integration and process automation. - The net profit for 9 months ended December 2025 was INR 957 crores, a significant turnaround from the loss a year earlier, indicating improved profitability trends. - With reduced borrowing costs and increased leverage (potentially up to 4x-4.5x by 2030), RoE and dividend payouts are expected to improve. - Dividend payouts are anticipated in 1-2 years with a policy targeting 30%-40% payout ratio long-term.

The transcript does not provide explicit details on current or expected orderbook or pending orders for Sammaan Capital Limited. However, the following points related to business operations and outlook can be noted: - The company is awaiting regulatory approvals for a major preferential allotment investment by IHC, expected to finalize soon. - Post-investment, they plan rapid expansion into 400-500 cities over 2 financial years, scaling branch network from about 10 added branches per quarter currently. - Co-lending arrangements with banks and other financial institutions have started in January and expected to pick up steadily through May-June 2026. - Focus on consolidating lending business by merging Sammaan Finserve with Sammaan Capital. - Emphasis on asset-light lending model and expanding loan product suite post-investment. No specific orderbook or pending order numbers are mentioned in the call.