Key highlights from our Axis Bank?s (AXSB) management meet are (1) Gross impaired asset additions expected to increase QoQ; however maintained its guidance of Rs 65bn for FY15 (2) Exposure to leveraged companies have declined gradually to form ~7% of total loans vs. 10% over the trailing five quarters (3) 60% of power exposures to be operational in FY15 and rest 40% expected to be operational over FY16-17 (4) NIM to remain healthy in a tight band with a focus on high yield loans.