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Stock-based compensation (Tables)

12 Months Ended

Mar. 31, 2018

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of options has been estimated on the dates of each grant using a binomial option pricing model with the following assumptions:

		Years ended March 31,
		2016		2017		2018
Dividend yield		0.73%		—		0.65%-0.66%
Expected volatility		23.29%-26.46%		—		19.94%-21.65%
Risk-free interest rate		7.71%-8.07%		—		6.73%-7.20%
Expected term (in years)		4.21-5.66		—		4.66-6.06

Schedule of Share-based Compensation, Stock Options, Activity

Activity in the options available to be granted under the Employee Stock Option Scheme is as follows:

		Number of options available to be granted years ending March 31,
		2016				2017				2018
Options available to be granted, beginning of period*			72,847,350				31,534,850				133,673,650
Equity shares allocated for grant under the plan			—				100,000,000				—
Options granted			(44,836,200	)			—				(16,882,050	)
Forfeited/lapsed*			3,523,700				2,138,800				1,050,000
Options available to be granted, end of period			31,534,850				133,673,650				117,841,600

* Does not include options exchanged on acquisition of CBoP since these options on forfeiture/ lapse are not available for re-issue.

Activity in the options outstanding under the Employee Stock Option Scheme is as follows:

		Years ended March 31,
		2016								2017								2018
		Options				Weighted average exercise price				Options				Weighted average exercise price				Options				Weighted average exercise price
Options outstanding, beginning of period			109,033,000			Rs.	683.16				128,654,300			Rs.	840.19				92,156,300			Rs.	904.97
Granted			44,836,200				1,092.65				—				—				16,882,050				1,433.23
Exercised			(21,691,200	)			563.78				(34,359,200	)			658.20				(32,544,550	)			837.59
Forfeited			(3,466,800	)			900.81				(1,992,500	)			981.44				(986,800	)			1,055.59
Lapsed			(56,900	)			546.78				(146,300	)			857.61				(63,200	)			963.45
Options outstanding, end of period			128,654,300			Rs.	840.19				92,156,300			Rs.	904.97				75,443,800			Rs.	1,050.22
Options exercisable, end of period			49,681,000			Rs.	661.84				56,314,000			Rs.	835.06				46,810,250			Rs.	901.44
Weighted average fair value of options granted during the year						Rs.	377.69							Rs.	—							Rs.	464.17

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following summarizes information about stock options outstanding as of March 31, 2018:

				As of March 31, 2018
Plan		Range of exercise price		Number of shares arising out of options				Weighted average remaining life (years)				Weighted average exercise price
Plan C		Rs.680.00 to Rs.835.50 (or US$ 10.44 to US$ 12.83)			3,261,500				1.32				685.72
Plan D		Rs.680.00 (or US$ 10.44)			1,635,700				1.43				680.00
Plan E		Rs.680.00 (or US$ 10.44)			6,224,900				1.51				680.00
Plan F		Rs.835.50 to Rs. 1,462.15 (or US$ 12.83 to US$ 22.46)			64,321,700				3.59				1,113.95

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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