git running very slow

I have a git repository, which is part of NFS mounted directory. I have been working on it on my SLES12 ESXi VM, and it is running quite good.
Recently I got a new VM which is SLES15 sp2 VM, and accessing same git repository, and I found that all git commands are extremely slow on my newer VM. I have no clue why it works so slow.
On a** SLES12 VM**:
time git status
On branch master
Your branch is up-to-date with ‘origin/master’.
real 0m0.110s
user 0m0.012s
sys 0m0.004s
While on SLES15 sp2 VM -
time git status
On branch master
Your branch is up to date with ‘origin/master’.
real 0m16.765s
user 0m0.007s
sys 0m0.012s
And this repository is the smallest of all (has just 15 files). Other bigger repositories show time difference in minutes. Similarly, all commands are extremely slow.
Any clues ?

@Smash Hi, have you looked at the network traffic via wireshark or tcpdump. Network routing all ok?