Maintain BUY with a TP of Rs 1,773 (2.5x Mar-20E ABV of Rs 709). Post a stellar show in FY18, SHTF delivered robust growth (+22% YoY) yet again. New CVs were the primary driver, clocking a growth of ~62% YoY. Asset quality was largely stable as GNPAs grew merely ~1% sequentially. NIMs remained sticky at 7.44% despite the jump in CoF as yields provided some support.