the balance sheet putting in place a strong risk management system and making each vertical head fully responsible and accountable says dubhashi as a part of the revamp he stopped disbursements to products classified as defocused and securitised some part of the portfolio to unlock capital the defocused areas include cars all types of commercial vehicles sme termloans and financing construction equipment gensets and threewheelers they also had people issues which was very topheavy admits dubhashi adding i also ensured that the rightsizing should be aligned to their remuneration as well so we linked a large chunk of their pay to performance dubhashi further says to build a sense of ownership at the lowerend he says his focus is on having more and more people on the ground than at the headquarters or at zonal offices today it is among the top 5 nbfcs in terms of market capitalisation with an mcap of close to rs 35514 crore lt finance is more valued than all other staterun banks barring sbi and is just behind hdfc bajaj finserv and indiabulls finance and way ahead of lichfl bajaj finance etc hdfc is the most valuable nbfc with rs 277 trillion in mcap so far in 2017 its share price has surged close 120 per cent while the sensex rose only around 19 per cent last friday its stock jumped 24 per cent to rs 195 while the market closed flat after seven consecutive days of losses the company reported a 49 per cent growth in net for the june quarter at rs 309 crore when its roe improved by 385 bps to 1363 per cent from 978 per cent a year ago gross npa decreased by 140 bps to 571 per cent the roe dubhashi says has already rose to 1363 per cent in end june which is well above the average and moved up from a low 95 per cent when he took over by march 2018 he is hopeful of it touching 16 per cent and 1820 per cent in march 2019 one full year ahead of the target on queried about the staff response to all the radical changes he quips there wasnt a single voluntary attrition from the top 100 at the mid and lower levels theres been some 10 per cent attrition which is on par with industry trend one immediate result is that our costtoincome ratio has improved to 23 from 33 per cent admitting that they failed on many counts till about fy16 dubhashi says from fy17 they began to concentrate on five products the results of which are all visible as it has been outperforming the market since then but today i want to reiterate that well give 1820 per cent roe by fy19 itself because i am confident that the past five quarters have been as per plans he concludes ben ars