Aavas Financiers held its 16th Annual General Meeting on September 16, 2026. The housing finance firm reported a 14% year-on-year increase in net profit to ₹654.9 crore for the financial year ended March 31, 2026.

The company also disclosed that its Assets Under Management (AUM) grew by 15% to reach ₹23,451 crore. Disbursements expanded by 11% to ₹6,775 crore during the period.

Financial Performance Highlights

Management outlined key operational metrics for FY26 during the proceedings. The net interest margin improved to 7.93%, reflecting better asset-liability management. The capital adequacy ratio stood at 44.6%, indicating strong regulatory capital buffers.

Asset quality remained robust with gross Stage 3 assets at 1.05% and net Stage 3 assets at 0.68%. The company’s net worth crossed the ₹5,000 crore mark, while the total balance sheet exceeded ₹20,000 crore.

Strategic Developments

Chief Executive Officer Manu Yeshpal Singh highlighted the induction of CVC Capital Partners as a promoter during FY26. The branch network expanded to 435 branches across 13 states and two union territories. Total live customer accounts reached approximately 2.7 lakh.

What the Numbers Show

The simultaneous expansion of the balance sheet beyond ₹20,000 crore and the maintenance of a capital adequacy ratio above 44% suggests the company is scaling its loan book while preserving significant headroom for future leverage. This indicates a conservative approach to capital allocation despite aggressive growth in disbursements.

Governance and Resolutions

Chairperson Vellur Gopalaraghavan Kannan presided over the meeting. Shareholders approved several ordinary and special resolutions, including:

• Adoption of audited financial statements for FY26.
• Re-appointment of directors Nikhil Omprakash Gahrotra and Neha Sureka.
• Appointment of Vivek Anant Karve and Vellur Gopalaraghavan Kannan as independent directors.
• Increase in borrowing powers under Section 180(1)(c) of the Companies Act, 2013.
• Issuance of Non-Convertible Debentures (NCDs) via private placement.

Statutory auditors M/s M S K A & Associates LLP and M/s Borkar & Muzumdar issued reports without qualification. The Company Secretary confirmed compliance with SEBI Listing Regulations and Ministry of Corporate Affairs guidelines for the VC/OAVM-based meeting.

Aavas Financiers Limited allotted ₹100 crore of non-convertible debentures through a private placement on September 11, 2026. The Executive Committee of the Board approved the issuance, which carries an initial coupon rate of 7.60% per annum.

The instruments are structured as senior, secured, rated, listed, transferable, and redeemable NCDs. Each debenture has a face value of ₹1,00,000, with a total of 10,000 units issued. The company intends to list these securities on the Wholesale Debt Market of BSE Limited.

Issue Structure

The debt issuance features a tenor of 60 months, maturing on September 11, 2031. Interest payments are scheduled quarterly from the date of allotment. The principal repayment follows an amortizing schedule, with 20 equal quarterly installments of ₹5,000 per debenture beginning immediately after allotment.

Security and Terms

The NCDs are secured by a first-ranking exclusive charge of at least 110% of the aggregate principal and interest amount. This security is created via hypothecation over identified receivables, loans, book debts, and unencumbered fixed deposits. The coupon rate is subject to reset processes, including step-up and step-down mechanisms as defined in the key information documents.

The company stated there were no delays in interest or principal payments for this issue. No cancellation or termination of the proposal occurred. The allotment was executed in accordance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD/PoD2/I/3762/2026 dated January 30, 2026.