AAVAS Financiers Limited has announced a significant change in its senior management with the early retirement of Chief People Officer Mr. Anshul Bhargava, effective from the close of business hours on April 01, 2026. The announcement was made through a regulatory disclosure filed under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Early Retirement Details

Mr. Anshul Bhargava, aged 59.5 years, submitted his request for early retirement citing personal reasons. The executive's regular retirement was originally scheduled for November 2026, making this an early departure by approximately seven months.

Board Approval Process

The Board of Directors and the Nomination & Remuneration Committee considered and approved the early retirement request through a circular resolution passed on April 01, 2026. The approval was granted in line with the applicable procedures of the company, ensuring compliance with regulatory requirements.

The company filed the disclosure pursuant to SEBI Master circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, providing comprehensive details about the senior management change.

Executive's Tenure and Contributions

In his resignation letter addressed to Managing Director and CEO Sachinder Bhinder, Mr. Bhargava expressed gratitude for his tenure with the company. He described his journey as "truly wonderful and enriching" and thanked the leadership team for their trust and support.

The company has placed on record its sincere appreciation for Bhargava's valuable contributions during his tenure and wished him continued success in his future endeavours. His departure represents a notable change in the senior management structure of the financial services company.

Regulatory Compliance

The announcement demonstrates AAVAS Financiers' commitment to transparent disclosure practices. The company has made the information available on its website at www.aavas.in , ensuring stakeholder access to the development. The disclosure was filed with both NSE and BSE, maintaining compliance with listing obligations and providing timely information to investors and market participants.

Aavas Financiers Limited has received a credit rating reaffirmation from CARE Ratings Limited, maintaining its strong credit profile with a CARE AA rating and positive outlook. The rating agency announced this decision on March 26, 2026, following its assessment of the company's operational and financial performance for FY25 (Audited) and 9MFY26 (un-Audited).

Credit Rating Details

CARE Ratings has reaffirmed the credit ratings for two key financial instruments of Aavas Financiers:

The long-term bank facilities have been enhanced by ₹500 crore from the previous limit, while the NCD amount has been reduced by approximately ₹64.19 crore from the earlier sanctioned amount.

Bank Facility Composition

The ₹12,262 crore long-term bank facilities comprise term loans and fund-based limits from multiple banking partners. The term loan component totals ₹12,132 crore, with State Bank of India being the largest lender at ₹3,132.89 crore, followed by Punjab National Bank at ₹2,630.86 crore and Axis Bank Limited at ₹1,349.26 crore.

Major Banking Partners

The company maintains credit relationships with 20 banks, including:

• Public Sector Banks: State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Central Bank of India, Indian Bank, UCO Bank, Union Bank of India, and IDBI Bank
• Private Sector Banks: Axis Bank, HDFC Bank, Bandhan Bank, Federal Bank, Karnataka Bank, South Indian Bank, ICICI Bank, CSB Bank, and Kotak Mahindra Bank
• Foreign Banks: Shinhan Bank
• Development Financial Institution: Small Industries Development Bank of India

Non-Convertible Debentures Portfolio

The NCD portfolio of ₹1,274.92 crore consists of multiple tranches with varying maturity periods and interest rates. The debentures carry interest rates ranging from 7.35% to 8.49%, with maturity dates extending from November 2026 to June 2030.

NCD Breakdown by Outstanding Amount

Regulatory Compliance

Aavas Financiers informed the stock exchanges about this rating reaffirmation in compliance with Regulation 30(6) and 51 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary Saurabh Sharma signed the regulatory filing on March 27, 2026.

Rating Significance

The CARE AA rating indicates high safety regarding timely servicing of financial obligations, with very low credit risk. The positive outlook suggests potential for an upgrade in the rating based on the company's improving credit fundamentals and business prospects. This rating reaffirmation reflects CARE's confidence in Aavas Financiers' credit quality and its ability to meet debt obligations across economic cycles.