Borrowing costs may come down from Q3: Mahindra Finance's Ramesh Iyer

Ramesh Iyer, vice-chairman and managing director, tells Manojit Saha, in a telephonic interview, that NBFC is on track to increase its balance sheet to Rs 1.25 trillion by 2025

Mahindra and Mahindra Financial Services (Mahindra Finance) posted 58 per cent rise in net profit to Rs 353 crore for the first quarter of 2023-24 (Q1FY24). Ramesh Iyer, vice-chairman and managing director, tells Manojit Saha, in a telephonic interview, that the non-banking financial company (NBFC) is on track to increase its balance sheet to Rs 1.25 trillion by 2025. Edited excerpts:

During the first quarter, Mahindra Finance said margins were impacted due to change in portfolio mix and increase in interest cost. How much have interest costs gone up by? How has the portfolio mix changed? 

There are two things. One is,