As per q4fy19 presentation, Canfin cost of fund is 7.9% which is less than 8.2%. You mentioned PNB housing finance cost of fund is 8.2% and also mentioned that Canfin cost of funds will be even higher than PNB housing. How can both be true simultaneously?
On page 17 of Canfin Homes, company has disclosed that their mortgage loan or flexi lap which I am assuming is LAP for salaried and professional is 369cr and for non-salaried is 439crore. Total about 808 crore. Their total loan book according to same slide is 15,743 crore which is 5% of book. Also their NIM of same period is 3.14%. I could not understand why do you say - Unless they underwrite successful LAP, how are they supposed to survive?