AAVAS Financiers Ltd Share Price

(AAVAS)

Aavas Financiers Limited (formerly known as Au Housing Finance Limited) is a Housing Finance Company registered with the National Housing Bank and engaged in the long term financing activity in the domestic market, offering customers home loans for purchase, construction, extension and repair of residential properties as well as other mortgage loan options. The company serves customers in low and middle income segments, with limited access to formal banking credit facilities and has served over 129,000 customers since its commencement in March 2012. The company is led by a professional management team and made investments of Rs 150.45 million in information technology systems between Fiscals 2014 and 2018. It created an MSME loan pool which enabled to mobilise funds at low rates and lend to small businesses. Company expanded its branch network to 13 states with 314 branches, continued to diversify funding sources by issuing NCDs to Mutual Funds, NHB Refinance, Debt capital market and banking products like Priority Sector/Non-Priority Sector Term Loans Cash Credit Facilities and Working Capital Demand Loans, and raised purchase consideration of Rs. 778.37 crore from assets assigned in pool buyout transaction. As of March 31 2022, the average size of loan sanctioned was Rs. 8.64 lakh with average tenure of 178.33 months. 65.4% of Gross loan assets were from customers in the economically weaker section EWS and low income group LIG earning less than Rs. 50000 per month.

Revenue: ₹546.80Cr as on March 2024 (Q1 24)
Net Profit: ₹142.48Cr as on March 2024 (Q1 24)
Listing date: 08 Oct, 2018
Chairperson Name: Sandeep Tandon