AAVAS Financiers received Reserve Bank of India approval on September 17, 2026, for the appointment of Manu Yeshpal Singh as Managing Director. The regulatory green light clears a key hurdle in the leadership transition process.

The company disclosed the development under Regulations 30 and 51 of the SEBI LODR Regulations. This follows an earlier intimation on April 20, 2026, regarding the proposed appointment.

Appointment Details

Mr. Singh will serve a tenure of 5 years from the date of appointment. His Director Identification Number is 11687234. The role includes serving as Chief Executive Officer.

Next Steps

The appointment remains subject to shareholder approval. The company stated it will update the exchanges once the Board of Directors approves the appointment in due course.

The disclosure was made available on the company website at www.aavas.in .

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.