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Premium member Presentation Transcript PowerPoint Presentation: October 2006 Kotak Mahindra BankPowerPoint Presentation: Page 2 Trade Finance 1985 1986 1990 2003 2001 1998 1996 1995 1992 1991 Ford Credit JVs Mutual Fund Stock Broking Goldman Sachs JVs IPO Investment Banking Auto Finance Life Insurance Old Mutual JV Dubai London New York BANK In October 2005, Kotak Group acquired the 40% stake in Kotak Prime held by Ford Credit International (FCI) and FCI acquired the stake in Ford Credit Kotak Mahindra (FCKM) held by Kotak Group. In May 2006, Kotak Group bought 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Kotak Securities Restructuring Ford & Goldman JVs 2006 Journey so far…PowerPoint Presentation: Page 3 Group Structure *100% 100% *74% Mutual fund Life insurance *100% Stock broking eBroking Distribution IPOs Private equity Project advisory M&A Primary Dealership Kotak Mahindra Capital Company Kotak Mahindra Prime Kotak Mahindra Old Mutual Life Insurance Kotak Securities Car Finance Consumer Finance Kotak Mahindra Asset Management Company *60% Kotak Forex Brokerage 100% Kotak Mahindra Investments Kotak Mahindra Trustee Company 100% 100% Trustee companies Interbank forex broking 26% held by Old Mutual *100% 100% 100% Kotak Mahindra Securities Kotak Mahindra (International) Kotak Mahindra (UK) Kotak Mahindra Inc. 100% Kotak Mahindra Private-Equity Trustee Global Investments Opportunities Fund 100% 100% *Includes direct and indirect holdings Investment Lending *100% All companies are regulated Over 7,800 employees Presence in 264 cities and towns across India Offices in New York, London, Dubai & Mauritius Around 1.6 mn customer accounts Wealth Management Retail branch banking Retail lending Corporate Banking TreasuryPowerPoint Presentation: Page 4 Leadership in the Indian Market In the Annual Euromoney Private Banking Survey Poll for 2006 for India, Kotak Mahindra Bank was ranked no. 1 in six categories Topped the Bloomberg India M&A Financial Advisory League table (India announced deals) for the calendar year 2005 Topped the India Advisory Partners Indata League table for the calendar year 2005 'Kotak Bond Regular Plan' was ranked ICRA-MFR1 and was the recipient of the Silver Award Best Bond Fund House 2006 Kotak Bond Regular Plan was ranked the best debt fund over 3 years 2006 Winner in 33 categories in the Asiamoney Private Banking Poll 2006; including the Best Private Bank award in Southern Asia Best Investment Bank in India 2006, 2004, 2003PowerPoint Presentation: Page 5 Leadership in the Indian Market Best Equity House in India: 2005, 2004, 2002-2003 Best Domestic Equity house: 2004, 2002-2003 Best Investment Bank in India 2004 IFR Asia's India Equity House Award for the year 2004 Best Broker - Kotak Securities : 2005 # 1 Book runner/ Lead Manager in terms of value of Indian equity offerings (PRIME Database) 2006, 2005, 2004, 2003PowerPoint Presentation: Page 6 Assets & LiabilitiesPowerPoint Presentation: Page 7 Retail assets 87% of advances NIMs – 5.3% (5.1% Q1FY06) Net NPA 0.26% (0.33% June 05) Stressed assets portfolio Rs 4.19 bn – March 06; outstanding recoverable Rs 24 bn - March 06 – potential for significant returns Target 30% growth in advances Total Advances Growth Advances Rs 106.5 bn (June 06) CAGR: 51% Growth in Advances - June 06 v/s June 05 Consolidated AdvancesPowerPoint Presentation: Page 8 65 full fledged bank branches across 43 cities Target around 110 branches across 65 cities by March 07 Focus primarily on HNI and mass affluent population Emphasis on personalised advisory solutions CASA ratio 16% (12% June 05) Significant contribution from distribution of financial products Overview High Net-worth Super Affluent Mass Affluent Mass Retail Retail Bank Customer Focus No. of full fledged Bank branches 50% of mass affluent reside in 6 cities Retail LiabilitiesPowerPoint Presentation: Page 9 Wealth ManagementPowerPoint Presentation: Page 10 Focus on HNI customers Managing wealth of over 3,000 families Presence in 14 cities with over 100 relationship managers Amongst top 3 distributors of equity products in India Winner in 33 categories in the Asiamoney Private Banking Poll 2006; including the Best Private Bank award in Southern Asia Awards in six categories in Euromoney Private Banking Poll 2006 Best Private Bank for ultra high net worth investors Wide Range of Products Portfolio Management Services Mutual Funds Private Equity Equity & Derivatives Life Insurance Real Estate Fund Structured Products IPO Wealth ManagementPowerPoint Presentation: Page 11 Asset ManagementPowerPoint Presentation: Page 12 Around Rs 182.3 bn (US$ 4 bn) of assets managed / advised by the group Alternate asset classes added during FY06 Private equity – India Growth Fund with commitments of Rs 7 bn Kotak Mahindra Realty Fund with commitments of over Rs 4.6 bn International tranche launched Overview Asset Management Group AUM (Rs bn) Equity AUM CAGR: 188%PowerPoint Presentation: Page 13 Life InsurancePowerPoint Presentation: Page 14 Total Premium Income (Rs mn) First year premium (single @ 1/10 th ) (Rs mn) Life Insurance JV with Old Mutual Group synergies contribute to growth Continue investments to build a long-term stable business Focus on value creation while scaling size Q1FY07 premium income up 109%to Rs 1,237 mn CAGR: 106%PowerPoint Presentation: Page 15 Capability 2,120 employees 13,800 life advisors 226 corporate agents; 116 brokers Established systems and processes Geographical reach 51 branches in 39 cities Products Full suite of products – risk, saving and pension 15 products – Individual; 5 products – Group; 1 product - Rural Building blocks for growthPowerPoint Presentation: Page 16 Investment BankingPowerPoint Presentation: Page 17 Best Equity House in India 2005,2004, 2003 Best Equity House in India 2004, 2003 Best Investment Bank in India 2006, 2004, 2003 Best Equity House in India 2004 Topped league tables for book running equity offerings for last four years in a row Topped Bloomberg M&A league tables for CY2005 International Subsidiaries Registered with International Offerings Investment Management Kotak Mahindra (UK) FSA, SEBI, DFSA Kotak Mahindra Inc NASD Kotak Mahindra (International) FSC Investment Banking KMCC - Investment Banking segment Industry Awards & Rankings (Rs mn)PowerPoint Presentation: Page 18 SecuritiesPowerPoint Presentation: Page 19 Strong presence in retail and institutional segments Institutional sales team in New York and London Network of 746 offices (own & franchisees) across 249 cities (515 offices in 181 cities June 05) India’s leading securities brokerage firm 8.5% market share in FY06 (6.3% in FY05) Best Broker 2005 Best Equity House 2005 Best Equity House 2004 SecuritiesPowerPoint Presentation: Page 20 Strong research team Wide coverage Institutional research 117 companies Retail research 150 companies Awarded Best Provider of Portfolio Management – Equities by Euromoney Private Banking Poll 2006 Over 2,45,000 secondary market customers KS Average Daily Volumes (Rs bn) Securities KS PAT (Rs mn) CAGR: 119%PowerPoint Presentation: Page 21 FinancialsPowerPoint Presentation: Page 22 Rs mn Q1 FY07 Q1 FY06 FY 06 Financing 3,043 1,945 9,404 Fees # 2,465 1,385 8,595 Insurance Premium 1,214 570 6,121 Treasury (excluding Hutch) 725 548 3,700 Others 319 108 721 Total Revenue (excl Hutch) 7,766 4,555 28,541 Q1FY07 – Rs 7,766 mn Q1FY06 – Rs 4,555 mn Financing Fees Insurance Premium Treasury Others Consolidated Revenue # brokerage income is net of sub-brokeragePowerPoint Presentation: Page 23 Rs mn Q1 FY07 Q1 FY06 FY06 Kotak Mahindra Bank 239.1 196.8 1,182.3 Kotak Mahindra Capital Company 129.5 34.4 565.7 Kotak Securities 688.0 340.0 2,155.4 Kotak Mahindra Prime 111.7 13.3 208.8 Kotak Mahindra Life Insurance (137.5) (150.5) (432.4) Kotak Mahindra AMC / Trustee 33.4 19.3 76.3 Kotak Mahindra Investments 55.5 48.1 278.0 International Subsidiaries 49.7 0.7 133.3 Kotak Mahindra Securities 1.3 35.7 70.3 Others (0.4) (1.7) (2.4) Total Group 1,170.2 536.2 4,235.3 Equity Affiliates 42.8 1.2 22.5 Minority interest - Goldman JVs (158.4) (102.7) (730.7) Balance MI and other adjustments (10.3) 30.1 (102.6) Consolidated for the Group 1,044.3 464.7 3,424.6 Consolidated PAT For FY06 all numbers are excluding profit on stake of sale in Hutch Consolidated Ratios: Page 24 Key Parameters June 06 June 05 Mar 06 Net Worth after Minority Interest (Rs mn) 28,158 15,138 22,471 Book Value per share (Rs) 86.7 49.1 72.7 Earning per share – diluted (Rs) 3.24 1.50 11.01 Gross NPA (Rs mn) 662 492 520 Net NPA (Rs mn) 275 255 235 Net NPA (%) 0.26% 0.33% 0.23% Net Interest Margin (%) 5.3% 5.1% 5.1% Post tax return on avg. Net worth (%) 16.5% 12.5% 20.5% Pre Tax return on avg. Net worth (%) (before Retail liabilities and Insurance) 30.2% 31.1% 39.3% Consolidated Ratios For FY06 all numbers are excluding profit on stake of sale in Hutch Bank Standalone - Segmental: Page 25 Q1FY07 Q1FY06 FY06 Lending 158.7 277.3 1,146.1 Corporate Banking 194.2 60.2 386.6 Retail Liabilities (27.5) (136.2) 17.8 Treasury and Investments 22.8 (16.3) (173.9) Corporate Centre - 111.1 270.6 Venture Fund Management 23.4 11.2 86.4 Less: Un-allocable expenditure - - 2.3 Profit before tax 371.6 307.3 1,736.0 Profit after tax 239.1 196.8 1,182.3 Rs million Bank Standalone - Segmental Numbers of the previous period are not comparable since the segments have been reclassifiedPowerPoint Presentation: Page 26 SummaryPowerPoint Presentation: Page 27 Build retail liabilities & distribution business – 110 branches by Mar07 Focus on wealth management Retail and commercial lending with focus on NIMs Stress assets business Leadership in securities broking Integrated corporate & investment bank Thrust in asset management business across asset classes Life insurance – a long term value creator New businesses – bullion, custodial services International expansion Effective utilisation of surplus capital in subsidiaries Value DriversPowerPoint Presentation: Page 28 This document contains certain forward-looking statements based on current expectations of Kotak Mahindra management. Actual results may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of Kotak Mahindra Group as well as its ability to implement the strategy. Kotak Mahindra does not undertake to update these statements. This document does not constitute an offer or recommendation to buy or sell any securities of Kotak Mahindra Bank or any of its subsidiaries and associate companies. This document also does not constitute an offer or recommendation to buy or sell any financial products offered by Kotak Mahindra, including but not limited to units of its mutual fund and life insurance policies. This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America unless they are registered or exempt from registration. Any public offering of securities to be made in the United States of America will be made by means of a prospectus that will contain detailed information about the Kotak Mahindra Group and management, as well as financial statements. All investments in mutual funds and securities are subject to market risks and the NAV of the schemes may go up or down depending upon the factors and forces affecting the securities market. The performance of the sponsor, Kotak Mahindra Bank Limited, has no bearing on the expected performance of Kotak Mahindra Mutual Fund or any schemes thereunder. Figures for the previous period/ year have been regrouped wherever necessary to conform to current period’s/ year’s presentation. Totals in some columns/ rows may not agree due to rounding off. Safe Harbour You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Kotak Bank aSGuest126082 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 55 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: February 08, 2012 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript PowerPoint Presentation: October 2006 Kotak Mahindra BankPowerPoint Presentation: Page 2 Trade Finance 1985 1986 1990 2003 2001 1998 1996 1995 1992 1991 Ford Credit JVs Mutual Fund Stock Broking Goldman Sachs JVs IPO Investment Banking Auto Finance Life Insurance Old Mutual JV Dubai London New York BANK In October 2005, Kotak Group acquired the 40% stake in Kotak Prime held by Ford Credit International (FCI) and FCI acquired the stake in Ford Credit Kotak Mahindra (FCKM) held by Kotak Group. In May 2006, Kotak Group bought 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Kotak Securities Restructuring Ford & Goldman JVs 2006 Journey so far…PowerPoint Presentation: Page 3 Group Structure *100% 100% *74% Mutual fund Life insurance *100% Stock broking eBroking Distribution IPOs Private equity Project advisory M&A Primary Dealership Kotak Mahindra Capital Company Kotak Mahindra Prime Kotak Mahindra Old Mutual Life Insurance Kotak Securities Car Finance Consumer Finance Kotak Mahindra Asset Management Company *60% Kotak Forex Brokerage 100% Kotak Mahindra Investments Kotak Mahindra Trustee Company 100% 100% Trustee companies Interbank forex broking 26% held by Old Mutual *100% 100% 100% Kotak Mahindra Securities Kotak Mahindra (International) Kotak Mahindra (UK) Kotak Mahindra Inc. 100% Kotak Mahindra Private-Equity Trustee Global Investments Opportunities Fund 100% 100% *Includes direct and indirect holdings Investment Lending *100% All companies are regulated Over 7,800 employees Presence in 264 cities and towns across India Offices in New York, London, Dubai & Mauritius Around 1.6 mn customer accounts Wealth Management Retail branch banking Retail lending Corporate Banking TreasuryPowerPoint Presentation: Page 4 Leadership in the Indian Market In the Annual Euromoney Private Banking Survey Poll for 2006 for India, Kotak Mahindra Bank was ranked no. 1 in six categories Topped the Bloomberg India M&A Financial Advisory League table (India announced deals) for the calendar year 2005 Topped the India Advisory Partners Indata League table for the calendar year 2005 'Kotak Bond Regular Plan' was ranked ICRA-MFR1 and was the recipient of the Silver Award Best Bond Fund House 2006 Kotak Bond Regular Plan was ranked the best debt fund over 3 years 2006 Winner in 33 categories in the Asiamoney Private Banking Poll 2006; including the Best Private Bank award in Southern Asia Best Investment Bank in India 2006, 2004, 2003PowerPoint Presentation: Page 5 Leadership in the Indian Market Best Equity House in India: 2005, 2004, 2002-2003 Best Domestic Equity house: 2004, 2002-2003 Best Investment Bank in India 2004 IFR Asia's India Equity House Award for the year 2004 Best Broker - Kotak Securities : 2005 # 1 Book runner/ Lead Manager in terms of value of Indian equity offerings (PRIME Database) 2006, 2005, 2004, 2003PowerPoint Presentation: Page 6 Assets & LiabilitiesPowerPoint Presentation: Page 7 Retail assets 87% of advances NIMs – 5.3% (5.1% Q1FY06) Net NPA 0.26% (0.33% June 05) Stressed assets portfolio Rs 4.19 bn – March 06; outstanding recoverable Rs 24 bn - March 06 – potential for significant returns Target 30% growth in advances Total Advances Growth Advances Rs 106.5 bn (June 06) CAGR: 51% Growth in Advances - June 06 v/s June 05 Consolidated AdvancesPowerPoint Presentation: Page 8 65 full fledged bank branches across 43 cities Target around 110 branches across 65 cities by March 07 Focus primarily on HNI and mass affluent population Emphasis on personalised advisory solutions CASA ratio 16% (12% June 05) Significant contribution from distribution of financial products Overview High Net-worth Super Affluent Mass Affluent Mass Retail Retail Bank Customer Focus No. of full fledged Bank branches 50% of mass affluent reside in 6 cities Retail LiabilitiesPowerPoint Presentation: Page 9 Wealth ManagementPowerPoint Presentation: Page 10 Focus on HNI customers Managing wealth of over 3,000 families Presence in 14 cities with over 100 relationship managers Amongst top 3 distributors of equity products in India Winner in 33 categories in the Asiamoney Private Banking Poll 2006; including the Best Private Bank award in Southern Asia Awards in six categories in Euromoney Private Banking Poll 2006 Best Private Bank for ultra high net worth investors Wide Range of Products Portfolio Management Services Mutual Funds Private Equity Equity & Derivatives Life Insurance Real Estate Fund Structured Products IPO Wealth ManagementPowerPoint Presentation: Page 11 Asset ManagementPowerPoint Presentation: Page 12 Around Rs 182.3 bn (US$ 4 bn) of assets managed / advised by the group Alternate asset classes added during FY06 Private equity – India Growth Fund with commitments of Rs 7 bn Kotak Mahindra Realty Fund with commitments of over Rs 4.6 bn International tranche launched Overview Asset Management Group AUM (Rs bn) Equity AUM CAGR: 188%PowerPoint Presentation: Page 13 Life InsurancePowerPoint Presentation: Page 14 Total Premium Income (Rs mn) First year premium (single @ 1/10 th ) (Rs mn) Life Insurance JV with Old Mutual Group synergies contribute to growth Continue investments to build a long-term stable business Focus on value creation while scaling size Q1FY07 premium income up 109%to Rs 1,237 mn CAGR: 106%PowerPoint Presentation: Page 15 Capability 2,120 employees 13,800 life advisors 226 corporate agents; 116 brokers Established systems and processes Geographical reach 51 branches in 39 cities Products Full suite of products – risk, saving and pension 15 products – Individual; 5 products – Group; 1 product - Rural Building blocks for growthPowerPoint Presentation: Page 16 Investment BankingPowerPoint Presentation: Page 17 Best Equity House in India 2005,2004, 2003 Best Equity House in India 2004, 2003 Best Investment Bank in India 2006, 2004, 2003 Best Equity House in India 2004 Topped league tables for book running equity offerings for last four years in a row Topped Bloomberg M&A league tables for CY2005 International Subsidiaries Registered with International Offerings Investment Management Kotak Mahindra (UK) FSA, SEBI, DFSA Kotak Mahindra Inc NASD Kotak Mahindra (International) FSC Investment Banking KMCC - Investment Banking segment Industry Awards & Rankings (Rs mn)PowerPoint Presentation: Page 18 SecuritiesPowerPoint Presentation: Page 19 Strong presence in retail and institutional segments Institutional sales team in New York and London Network of 746 offices (own & franchisees) across 249 cities (515 offices in 181 cities June 05) India’s leading securities brokerage firm 8.5% market share in FY06 (6.3% in FY05) Best Broker 2005 Best Equity House 2005 Best Equity House 2004 SecuritiesPowerPoint Presentation: Page 20 Strong research team Wide coverage Institutional research 117 companies Retail research 150 companies Awarded Best Provider of Portfolio Management – Equities by Euromoney Private Banking Poll 2006 Over 2,45,000 secondary market customers KS Average Daily Volumes (Rs bn) Securities KS PAT (Rs mn) CAGR: 119%PowerPoint Presentation: Page 21 FinancialsPowerPoint Presentation: Page 22 Rs mn Q1 FY07 Q1 FY06 FY 06 Financing 3,043 1,945 9,404 Fees # 2,465 1,385 8,595 Insurance Premium 1,214 570 6,121 Treasury (excluding Hutch) 725 548 3,700 Others 319 108 721 Total Revenue (excl Hutch) 7,766 4,555 28,541 Q1FY07 – Rs 7,766 mn Q1FY06 – Rs 4,555 mn Financing Fees Insurance Premium Treasury Others Consolidated Revenue # brokerage income is net of sub-brokeragePowerPoint Presentation: Page 23 Rs mn Q1 FY07 Q1 FY06 FY06 Kotak Mahindra Bank 239.1 196.8 1,182.3 Kotak Mahindra Capital Company 129.5 34.4 565.7 Kotak Securities 688.0 340.0 2,155.4 Kotak Mahindra Prime 111.7 13.3 208.8 Kotak Mahindra Life Insurance (137.5) (150.5) (432.4) Kotak Mahindra AMC / Trustee 33.4 19.3 76.3 Kotak Mahindra Investments 55.5 48.1 278.0 International Subsidiaries 49.7 0.7 133.3 Kotak Mahindra Securities 1.3 35.7 70.3 Others (0.4) (1.7) (2.4) Total Group 1,170.2 536.2 4,235.3 Equity Affiliates 42.8 1.2 22.5 Minority interest - Goldman JVs (158.4) (102.7) (730.7) Balance MI and other adjustments (10.3) 30.1 (102.6) Consolidated for the Group 1,044.3 464.7 3,424.6 Consolidated PAT For FY06 all numbers are excluding profit on stake of sale in Hutch Consolidated Ratios: Page 24 Key Parameters June 06 June 05 Mar 06 Net Worth after Minority Interest (Rs mn) 28,158 15,138 22,471 Book Value per share (Rs) 86.7 49.1 72.7 Earning per share – diluted (Rs) 3.24 1.50 11.01 Gross NPA (Rs mn) 662 492 520 Net NPA (Rs mn) 275 255 235 Net NPA (%) 0.26% 0.33% 0.23% Net Interest Margin (%) 5.3% 5.1% 5.1% Post tax return on avg. Net worth (%) 16.5% 12.5% 20.5% Pre Tax return on avg. Net worth (%) (before Retail liabilities and Insurance) 30.2% 31.1% 39.3% Consolidated Ratios For FY06 all numbers are excluding profit on stake of sale in Hutch Bank Standalone - Segmental: Page 25 Q1FY07 Q1FY06 FY06 Lending 158.7 277.3 1,146.1 Corporate Banking 194.2 60.2 386.6 Retail Liabilities (27.5) (136.2) 17.8 Treasury and Investments 22.8 (16.3) (173.9) Corporate Centre - 111.1 270.6 Venture Fund Management 23.4 11.2 86.4 Less: Un-allocable expenditure - - 2.3 Profit before tax 371.6 307.3 1,736.0 Profit after tax 239.1 196.8 1,182.3 Rs million Bank Standalone - Segmental Numbers of the previous period are not comparable since the segments have been reclassifiedPowerPoint Presentation: Page 26 SummaryPowerPoint Presentation: Page 27 Build retail liabilities & distribution business – 110 branches by Mar07 Focus on wealth management Retail and commercial lending with focus on NIMs Stress assets business Leadership in securities broking Integrated corporate & investment bank Thrust in asset management business across asset classes Life insurance – a long term value creator New businesses – bullion, custodial services International expansion Effective utilisation of surplus capital in subsidiaries Value DriversPowerPoint Presentation: Page 28 This document contains certain forward-looking statements based on current expectations of Kotak Mahindra management. Actual results may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of Kotak Mahindra Group as well as its ability to implement the strategy. Kotak Mahindra does not undertake to update these statements. This document does not constitute an offer or recommendation to buy or sell any securities of Kotak Mahindra Bank or any of its subsidiaries and associate companies. This document also does not constitute an offer or recommendation to buy or sell any financial products offered by Kotak Mahindra, including but not limited to units of its mutual fund and life insurance policies. This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America unless they are registered or exempt from registration. Any public offering of securities to be made in the United States of America will be made by means of a prospectus that will contain detailed information about the Kotak Mahindra Group and management, as well as financial statements. All investments in mutual funds and securities are subject to market risks and the NAV of the schemes may go up or down depending upon the factors and forces affecting the securities market. The performance of the sponsor, Kotak Mahindra Bank Limited, has no bearing on the expected performance of Kotak Mahindra Mutual Fund or any schemes thereunder. Figures for the previous period/ year have been regrouped wherever necessary to conform to current period’s/ year’s presentation. Totals in some columns/ rows may not agree due to rounding off. Safe Harbour