Maintain BUY with a TP of Rs 137 (2x Sept-19 ABV of Rs 68). After being marred by an expected yet large corp slippage in 1Q, FB delivered a stellar set of numbers. PPOP sustained an uptrend as loans (+25%) and fees (+23%) continued to grow. Stable NIMs (~3.31%, albeit up 18bps QoQ), steady asset quality (net stressed assets at ~3.1%), controlled opex and a well- diversified asset book augurs well for FB.