Aavas Financiers Ltd. · NSE:AAVAS
Aavas Financiers — Investor Presentation (2026)
41 slides from Aavas Financiers's investor presentation, 2026
Slide 1: Corporate Presentation
CORPORATE PRESENTATION
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Aavas Financiers Ltd. (the “Company”), without any specific objectives and solely for information purposes and do not constitute directly or indirectly any advertisement, advise, offer, recom
Slide 3: Aavas 3.0: Building a Lasting Institution
Aavas 3.0: Building a Lasting Institution Aavas 1.0 Aavas 2.0 Aavas 3.0 550.0 2012 2016 2023 Change in Promoter AUM (INR Bn) Investment (2016) by: IPO (October 2018) 204.2 234.5 173.1 113.5 141.7 78.0 94.5 40.7 59.4 0.0 1.8 4.1 8.4 16.8 26.9 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY2
Slide 4: Scaled & Resilient Organization Built On Strong Pillars
Scaled & Resilient Organization Built On Strong Pillars People, Processes & Technology Built For Scale Risk Financial Human Capital Technology Capital In-house seasoned Risk and Strong Equity Capital Base & Organization Structure Built For Technology like Bank and Agility of Collections Team support
Slide 5: Executive Summary – FY26
Executive Summary – FY26 Financial Capital Assets Customers Distribution Performance Structure ₹ 234.5 bn 99.5% ₹ 6,556 mn 435 ₹ 50.5 bn AUM Retail Loans PAT* Branches Net Worth ₹ 67.8 bn 65% | 35% 12.82% | 7.62% 15 44.56% Disbursement HL | NHL Yields | CoB States/UTs CRAR ₹ 67.1 bn | 7.61% 2,70,852
Slide 6: Management Commentary on FY26
Management Commentary on FY26 FY26 was a year of landmarks and milestones. • Change of promoter welcoming CVC Capital Partners a leading global private market manager with > €200 bn of AuM • Balance Sheet crossing Rs. 200 billion • Net Worth crossing Rs. 50 bn mark. • Lifetime disbursements > Rs 400
Slide 7: Pillars of Strength
Pillars of Strength Healthy Business Growth Business & Portfolio Mix Diverse Geographical Distribution Diverse Customer Mix Lead Generation In-house Execution Model IT Transformation 7 Aavas | Corporate Presentation
Slide 8: Healthy Business Growth
Healthy Business Growth AUM (₹ Bn) Disbursements (₹ Bn) 234.5 67.8 204.2 61.2 173.1 55.8 50.2 141.7 113.5 36.0 94.5 26.6 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 FY21 FY22 FY23 FY24 FY25 FY26 NIM (₹ Mn) PAT* (₹ Mn) 6,556 15,797 5,743 13,426 4,908 11,844 4,283 10,120 3,575 8,223 2,903 6,409 FY21 FY2
Slide 9: Well Diversified Portfolio Mix
Well Diversified Portfolio Mix Average Ticket Size AUM by Product AUM by Occupation ₹0.79 mn HL ₹1.03 mn 22% MSME 39% LAP 61% 13% 65% ₹0.79 mn ₹1.14 mn ₹1.01 mn Salaried Self-employed AUM by Geography AUM by Ticket size (No of Loans) Karnataka, 4% Others, 4% 1% Haryana, 5% 5% Rajasthan, 33% Upto ₹ 1
Slide 10: Product Portfolio
Product Portfolio Share in Average Ticket Size Segments Products Product ROI Average LTV AuM (Rs. In Mn) Home Loan Self construction Home Improvement Housing 65% 1.11 11-15% 59.3% Plot + Construction Home Loan Balance Transfer Cash Salaried Plus MSME Business Loan 22% 0.79 12-15% 48.2% Loan Against
Slide 11: Diverse Geographical Distribution
Diverse Geographical Distribution Data as on 31st Mar 2026 Geographical diversification journey Branch Vintage (No of Branches) Himachal Pradesh 80% 76% 43 Chandigarh 31 <1 yr Punjab 4 74% 53 1 71% 54 1-3 yrs 4 9 Uttarakhand 69% 94 Haryana 67% 104 3-6 yrs 20 Delhi 65% 64% 5 153 6-9 yrs Rajasthan Utt
Slide 12: Contiguous Expansion Strategy
Contiguous Expansion Strategy FY13 FY19 FY26 FY30 25 210 435 600+ Focused on building a Pan-India Affordable Housing Institution 12 Aavas | Corporate Presentation
Slide 13: Deeper penetration in core states unlocks large growth prospect
Deeper penetration in core states unlocks large growth prospect 111 50 55 55 5 Branches State Rajasthan Maharashtra Gujarat Madhya Pradesh Delhi AuM 7,740 4,560 2,738 2,796 1,257 (Rs. in crs) MSME AuM 2,487 474 486 723 175 (Rs. in crs) *Cumulative Disbursement 13,685 6,515 4,393 4,355 2,171 (Rs. in
Slide 14: Substantial whitespace opportunity in UP & Southern States
Substantial whitespace opportunity in UP & Southern States 48 38 20 Branches State Uttar Pradesh Karnataka Tamil Nadu Andra Pradesh Telangana AuM 1,411 880 14 - - (Rs. in crs) MSME AuM 312 112 2 - - (Rs. in crs) *Cumulative Disbursement 2,086 1,086 14 - - (Rs. in crs) District Coverage 53% 87% 47% -
Slide 15: Diversified Customer Base
Diversified Customer Base Self Employed Salaried Home Loan MSME LAP Home Loan Customer -1: Customer -2 Customer -3 Customer -4: Age- 42 | Town: Ramgarh Age-44 | Town:Kheragarh Age-48 | Town: Coimbatore Age – 35 | Town: Navalgund (Rajasthan) (Uttar Pradesh) (Tamil Nadu) (Karnataka) • The applicant pe
Slide 16: Right to Win with In-house Model
Right to Win with In-house Model In-house CSC & E-Mitra: Common service centers Focused on Direct: In-house across India Open market, cold calling, Sourcing canopy activity, etc. Building Four-tiered Institutional collection Partnership Mitra: architecture for Lead People in allied1 generation indus
Slide 17: Major Technology Transformation Completed
Major Technology Transformation Completed 1 2 3 Guiding Be like a Bank Enable Sustainable Growth with Create a Superior Customer Principles by Technology Capabilities Significant Operating Leverage Experience Origination Loan Management System ERP / GL System CRM ✓Consolidation of processes into a s
Slide 18: Financial Performance
Financial Performance Yields, Margins and Spreads Cost Efficiency and Return Ratios Asset Quality Liability Franchise Key Ratios 18 Aavas | Corporate Presentation
Slide 19: Yield, Spread, Margin and Cost Efficiency
Yield, Spread, Margin and Cost Efficiency Yield and Cost of Borrowings (%) OPEX to Total Assets (%) Yield% CoB% 3.7% 3.6% 13.2% 12.7% 13.1% 13.1% 13.1% 12.8% 3.5% 3.5% 3.3% 3.0% 7.6% 8.1% 8.2% 7.6% 7.4% 6.9% FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Spreads & Margins (%) Cost to In
Slide 20: Pristine Asset Quality
Pristine Asset Quality Gross NPA / Stage 3 (%) Net NPA / Stage 3 (%) 1.08% 1.05% 0.98% 0.99% 0.94% 0.92% 0.71% 0.77% 0.68% 0.73% 0.67% 0.68% FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 1+DPD (%) Credit Cost (%) 0.45% 6.37% 4.47% 0.23% 3.39% 3.17% 3.30% 3.12% 0.16% 0.15% 0.17% 0.10% F
Slide 21: Strong Liability Base
Strong Liability Base Diversified Funding Mix Particular Period Up to FY16 Up to FY26 Difference 0.9% Total Share Capital (₹ Cumulative 1,438 14,654 13,216 Terms Loans Mn) 9.1% Diversified Retained Earnings 10.7% Assignment & Co- Cumulative 593 35,854 35,261 Mix: 35 lending and Profit (₹ Mn) Lenders
Slide 22: Steady Credit Rating Upgrades over the years
Steady Credit Rating Upgrades over the years CARE Mar-26 AA / Positive Mar-17 A+ /Stable AA / Positive AA AA- ICRA Mar-26 AA / Positive A+ Mar-16 A / Stable A Short-term A1+ rating A- reaffirmed by ICRA, CARE, & India Ratings BBB- Long Term Outlook Upgraded to Positive by ICRA & CARE FY13 FY14 FY16
Slide 23: Positive ALM across Buckets
Positive ALM across Buckets ALM position Surplus Management AUM & Borrowings (₹ Mn) (₹ bn) As on Mar – 26 (As on Mar-26) Surplus: 13.62 18.93 18.64 23.14 21.55 37.08 52.25 211.86 Assets 190.64 166,769 167,781 Liabilities 155.66 153.56 159.61 134.11 108.93 85.79 51.38 36,472 35.94 32.74 67,748 29% 28
Slide 24: Comfortable Liquidity Position
Comfortable Liquidity Position Particulars (₹ Mn) As on Mar-26 Cash & Cash Equivalents 17,990 High-Quality Liquidity of Un-availed CC Limits 1,010 ₹ 19,000 Mn Documented & Un-availed Sanctions from Banks 9,750 Total Liquidity Position 28,750 Particulars (₹ mn ) Q1FY27 Q2FY27 Q3FY27 Q4FY27 Opening Li
Slide 25: Key Financial Ratio
Key Financial Ratio Return on Assets – ROA (%) Return on Equity – ROE (%) 14.1% 13.9% 14.1% 13.93% 13.7% 3.6% 3.5% 12.9% 3.5% 3.3% 3.3% 3.3% FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 BVPS & EPS Trend Capital Adequacy Ratio BVPS (₹) EPS (₹) 82 100 54.5% 51.4% 47.0% 44.0% 44.5% 44.6%
Slide 26: Financial Statements
Financial Statements Financial Snapshot & RoA Tree Balance Sheet PAT Reconciliation Net worth Reconciliation ECL Provisioning 26 Aavas | Corporate Presentation
Slide 27: Historical Financial Snapshot
Historical Financial Snapshot CAGR Particulars (₹ bn) FY21 FY22 FY23 FY24 FY25 FY26 (5 Years) AUM 94.5 113.5 141.7 173.1 204.2 234.5 20% Disbursement 26.6 36.0 50.2 55.8 61.2 67.8 21% Total Assets 89.6 110.2 134.1 165.2 186.2 212.1 19% Borrowings 63.5 79.7 98.4 123.4 139.2 156.9 20% Net Worth 24.0 2
Slide 28: ROE Tree - Trend
ROE Tree - Trend Particulars FY21 FY22 FY23 FY24 FY25 FY26 Interest Income 12.57% 12.10% 12.27% 12.51% 12.40% 12.36% Less: Interest Expense (incl. Finance Charges) (5.59%) (4.84%) (4.90%) (5.59%) (5.78%) (5.55%) Net Interest Income (NII) 6.98% 7.27% 7.38% 6.92% 6.62% 6.81% Add: Fees and Other income
Slide 29: Balance Sheet
Balance Sheet Particulars (₹ in mn) FY20 FY21 FY22 FY23 FY24 FY25 FY26 Sources of Funds Share Capital 783 785 789 791 791 792 793 Reserves & Surplus 20,196 23,229 27,297 31,906 36,942 42,817 49,716 Borrowings 53,520 63,454 79,725 98,407 1,23,365 1,39,185 1,56,856 Deferred Tax Liability (Net) 317 285
Slide 30: PAT Reconciliation
PAT Reconciliation Particulars (₹ Mn ) FY20 FY21 FY22 FY23 FY24 FY25 FY26 Net Profit as per IGAAP 2,297.4 3,077.8 3,282.3 3,793.1 4,435.1 5,291.0 5,927.8 Add / (Less) : Adjustments as per IndAS on account of: Adoption of effective interest rate (EIR) for amortisation of Income and expenses - financi
Slide 31: Networth Reconciliation
Networth Reconciliation Particulars (₹ Mn ) FY20 FY21 FY22 FY23 FY24 FY25 FY26 Net Worth as per previous GAAP 19,370.5 22,470.8 26,133.3 30,177.4 34,650.8 39,927.1 45,950.0 Adjustments increasing/(decreasing) net worth as reported under previous GAAP: Adoption of EIR for amortisation of Income and e
Slide 32: ECL Provisions
ECL Provisions Particulars (₹ Mn ) FY20 FY21 FY22 FY23 FY24 FY25 FY26 Gross Stage 3 GNPA 284 739 904 1,067 1,319 1,763 1,938 % portfolio in Stage 3 (GNPA%) 0.46% 0.98% 0.99% 0.92% 0.94% 1.08% 1.05% ECL Provision Stage 3 74 201 208 287 380 572 697 Net Stage 3 210 538 695 780 939 1,191 1,242 Provision
Slide 33: Experienced Board of Directors, Professional Management Team, Diversified Shareholding Base, ESG
Experienced Board of Directors Professional Management Team Diversified Shareholding Base ESG Industry 33 Aavas | Corporate Presentation
Slide 34: Strong Management depth continues to drive Outperformance
Strong Management depth continues to drive Outperformance Manu Singh Ghanshyam Rawat Ashutosh Atre Ripudaman Bandral MD* & Chief Executive President & Chief President & Chief Risk Chief Business Officer Officer Financial Officer Officer • 25+ years of experience in financial services • 30+ years of
Slide 35: New Board bringing in a wealth of experience
New Board bringing in a wealth of experience Kalpana Kaushik Sandeep Tandon Soumya Rajan Mazumdar Chairperson of Board, Independent Director & Independent Director & Independent Director & Chairperson of Nomination Chairperson of Stakeholders Chairperson of Audit & Remuneration Committee Committee R
Slide 36: Strong middle layer across core business functions
Strong middle layer across core business functions Business Origination Credit & Risk Collections 93 217 24 Strong middle 5 22 66 6 35 50 6 18 8 layer National Zonal Regional National Zonal Regional National Zonal Regional management 47% employees with 3+ 76% employees with 3+ 100% employees with 3+
Slide 37: Diversified Shareholding Base
Diversified Shareholding Base Shareholding Pattern as on Top Institutional Shareholders as on 31st Mar 2026 31st Mar 2026 Investor Details % Holding CVC Capital 48.94 ICICI Pru Asset Management^* 3.89 Others, 11.08% HDFC Asset Management^* 3.40 UTI Asset Management^* 2.98 FII, Axis Max Life^* 2.88 1
Slide 38: Environmental, Social & Governance
Environmental, Social & Governance Extra Mile of Corporate Governance Robust Corporate Governance The Board of Directors helps improve corporate credibility and governance 3 women Directors of the Board. standards and manage risk and independent oversight in the Company. The company has also impleme
Slide 39: Pioneer in Self-Built Green Housing
Pioneer in Self-Built Green Housing ▪ In 2021, IFC conducted a survey of 500 Aavas homes to understand the willingness and perceptions towards green homes, leading to affordable green home financing solutions – designed and implemented by Aavas. ▪ Aavas has successfully raised Non-Convertible Debent
Slide 40: Affordable Housing is a Secular Growth Story Backed by Long Term Structural Tailwinds
Affordable Housing is a Secular Growth Story Backed by Long Term Structural Tailwinds Backed by Long-term structural tailwinds Trend in Mortgage to GDP in India Share of Affordable Segment 16.0% 15.3% 28% 31% 12.3% 11.3% 10.8% By Volume By Value 8.1% 7.3% 69% 72% FY18 FY19 FY20 FY21 FY23 FY24 FY25 <
Slide 41: Thank You
Thank You Microsoft Excel SVG Vector icon PNG Free Download | UXWing Click here for Factsheet Aavas Financiers Limited CIN: L65922RJ2011PLC034297 Mr. Rakesh Shinde – Head of Investor Relations rakesh.shinde@aavas.in / investorrelations@aavas.in Visit us -