Yet again, we are compelled to reduce our estimates for DCBB over FY20-22E, as we build slower loan growth and higher slippages. These do not worry us and we like DCBB's relatively conservative approach. Sustainability of oplev improvement seen this qtr (key for RoAA expansion) and the NIM impact of linking of fresh retail loans to external benchmarks, will be watched for. Maintain BUY with a TP of Rs 243 (2 X Sep-21E ABV of Rs 122), especially given the recent correction. DCBBs 2QFY20 disappointed with broad-based asset quality deterioration while sustained cost control and stable margins were silver linings. MAINTAIN BUY with a TP of Rs 243.