Aavas Financiers Ltd. · NSE:AAVAS
Aavas Financiers — Investor Presentation
39 slides from Aavas Financiers's investor presentation
Slide 1: Investor Presentation 9MFY26
INVESTOR PRESENTATION 9MFY26
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: Executive Summary – 9MFY26
Executive Summary – 9MFY26 Financial Capital Assets Customers Distribution Performance Structure ₹ 222.04 bn 99.5% ₹ 4,739 mn 404 ₹ 48.6 bn AUM Retail Loans PAT* Branches Net Worth ₹ 44.3 bn 66% | 34% 13.02% | 7.68% 15 46.39% Disbursement HL | NHL Yields | CoB States/UTs CRAR ₹ 46.40 bn | 7.66% 2,62
Slide 4: Key Performance Highlights – 9MFY26
Key Performance Highlights – 9MFY26 AUM (₹ mn) Disbursement (₹ Mn) 1+ DPD (%) +15.4% +8.0% -5 bps 222,035 192,380 44,271 3.85% 3.80% 40,992 Dec-24 Dec-25 9M FY25 9M FY26 Dec-24 Dec-25 Spread (%) NIM (%) PAT (₹ mn) +40 bps +28 bps +13% 5.34% 4,739 7.82% 4,203 7.54% 4.94% Dec-24 Dec-25 9M FY25 9M FY26
Slide 5: Key Performance Highlights – Q3FY26 (YoY)
Key Performance Highlights – Q3FY26 (YoY) NII (₹ mn) NIM (₹ Mn) PAT (₹ Mn) +17% +18% +16% 3,436 3,978 1,703 2,929 3,367 1,464 Q3FY25 Q3FY26 Q3 FY25 Q3 FY26 Q3FY25 Q3FY26 Net Worth (₹ mn) RoA (%) RoE (%) +16% +6 bps +8 bps 48,581 14.29% 3.43% 3.37% 14.21% 41,969 Dec-24 Dec-25 Q3 FY25 Q3 FY26 Q3 FY25
Slide 6: Key Performance Highlights – Q3FY26 (QoQ)
Key Performance Highlights – Q3FY26 (QoQ) Disbursement (₹ mn) Spread (%) Cost to Income (%) +10% +11 bps -75 bps 17,219 5.34% 43.65% 42.90% 5.23% 15,599 Sep-25 Dec-25 Q2 FY26 Q3 FY26 Q2 FY26 Q3 FY26 Opex Ratio (%) 1+ DPD (%) GNPA (%) -7 bps -19 bps -5 bps 3.51% 1.24% 3.44% 3.99% 1.19% 3.80% Q2 FY26
Slide 7: Pillars of Strength
Pillars of Strength Strengthening through Diverse Geographical Distribution In-house Execution Model IT Transformation Institutionalization Professional Management Experienced Board of Directors Diversified Shareholding Base Team 7 Aavas | Investor Presentation 9MFY26
Slide 8: 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) 204.2 222.0 173.1 113.5 141.7 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 9: 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 10: Diverse Geographical Distribution
Diverse Geographical Distribution Data as on 31st Dec 2025 Geographical diversification journey Branch Vintage (No of Branches) 80% Himachal Pradesh 35 76% 23 <1 yr Punjab 4 Chandigarh 74% 54 53 1 71% 5 75 1-3 yrs Uttarakhand 9 69% 87 Haryana 67% 65% 3-6 yrs 20 Delhi 64% 5 169 6-9 yrs Rajasthan 166
Slide 11: 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 12: Aavas's "Branch Excellence Project"
Aavas’s “Branch Excellence Project” Neev Improved sales productivity Rise Sampoorn Motivated and high performing Faster decision TAT & workforce improved quality of login Setu Nipun Faster conversions and Better workflow transparency & improved throughput deviation handling 12 Aavas | Investor Prese
Slide 13: 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 14: Technology Transformation & AI Adoption Outcomes
Technology Transformation & AI Adoption Outcomes Login to Sanction TAT (days) Digital Led Business (Rs. In Mn) 13 ~54% ~3,000 10 11 9 7 6 ~1,050 FY21 FY22 FY23 FY24 FY25 9MFY26 9MFY25 9MFY26 Unique Customer login in App Gen AI Bot Conversation 1,10,000+ ~ 78,000 82,000+ ~ 23,000 9MFY25 9MFY26 9MFY25
Slide 15: Strong Management depth continues to drive Outperformance
Strong Management depth continues to drive Outperformance Sachinder Bhinder Ghanshyam Rawat Ashutosh Atre Ripudaman Bandral Managing Director & President & Chief President & Chief Risk Chief Credit Officer CEO Financial Officer Officer • 27+ years of experience • 30+ years of experience in financial
Slide 16: 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 17: Diversified Shareholding Base
Diversified Shareholding Base Shareholding Pattern as on Top Institutional Shareholders as on 31st Dec 2025 31st Dec 2025 Investor Details % Holding CVC Capital 48.95 UTI Asset Management^* 3.05 Others, 12.04% Wasatch^ 2.89 Axis Max Life 2.88 SBI Asset Management^* 2.85 48.95% 2.48 FII, Capital Grou
Slide 18: Business Performance
Business Performance Healthy Business Growth Business Mix Spreads, Margins and Yields Cost Efficiency and Return Ratios Key Financial Ratios Asset Quality Liability Franchise ALM and Liquidity Position 18 Aavas | Investor Presentation 9MFY26
Slide 19: Healthy Business Growth
Healthy Business Growth Assets under Management (AUM) (₹ mn) 2,04,202 2,13,566 2,22,035 1,73,126 2,04,202 2,07,397 1,41,667 1,92,380 1,13,502 94,543 77,961 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 (YoY %) 31% 21% 20% 25% 22% 18% 20% 18% 16% 16% 15% Disbursement (₹
Slide 20: Business Wise Mix
Business Wise Mix Average ticket size AUM (Segment wise) AUM (Occupation wise) ₹ 0.73 mn 13% 13% ₹ 0.77 mn ₹ 0.97 mn ₹ 1.00 mn 40% 39% ₹ 0.83 mn 18% 21% ₹ 0.89 mn ₹ 1.05 mn 69% 66% ₹ 1.09 mn ₹ 0.94 mn 60% 61% ₹ 1.00 mn Dec-24 Dec-25 Dec-24 Dec-25 HL MSME LAP Self employed Salaried Disbursement (Segm
Slide 21: Well Diversified Portfolio Mix
Well Diversified Portfolio Mix AUM by Geography AUM by Ticket size (No of Loans) Karnataka, 4% Others, 4% 1% Haryana, 5% 5% Uttar Pradesh, 6% Rajasthan, 33% Upto ₹ 1.5 Mn 10% Delhi, 5% ₹ 1.5 to ₹ 2.5 Mn ATS: ₹1.0mn ₹ 2.5 to ₹ 5.0 Mn Madhya Pradesh, 12% Above ₹ 5.0 Mn Maharashtra, 84% Gujarat, 12% 20
Slide 22: Spreads, Margins and Yields
Spreads, Margins and Yields Yield and Cost of Borrowings (%) 14.5% 13.63% 13.16% 13.12% 13.13% 13.13% 9.5% 12.66% 14.0% 13.5% 13.18% 13.13% 13.13% 13.08% 13.02% 9.0% 13.0% 8.5% 12.5% 8.24% 8.24% 12.0% 8.0% 8.44% 8.24% 8.02% 8.07% 7.85% 11.5% 7.40% 7.61% 7.68% 7.5% 6.88% 11.0% 10.5% 7.0% FY20 FY21 FY
Slide 23: Cost Efficiency & Return Ratio
Cost Efficiency & Return Ratio Opex to Asset and Cost to Income (%) 45.2% 45.7% 46.3% 4.5% 41.9% 44.5% 43.4% 4.5% 41.5% 50.0% 39.1% 43.7% 42.9% 46.0% 42.2% 45.0% 40.0% 4.0% 4.0% 3.69% 3.71% 42.0% 3.58% 35.0% 3.45% 3.46% 3.51% 3.44% 3.38% 30.0% 3.5% 3.32% 25.0% 3.5% 3.27% 38.0% 3.01% 20.0% 15.0% 3.0%
Slide 24: Key Financial Ratios
Key Financial Ratios Profit after tax (PAT) Net Worth Without raising Capital (₹ mn) (₹ mn) 5,743 6,50 0 6,00 0 48,581 5,50 0 4,908 4,739 43,608 4,283 37,733 5,00 0 32,697 4,50 0 3,575 28,086 4,00 0 3,50 0 2,903 24,014 3,00 0 2,50 0 2,491 20,979 2,00 0 1,50 0 1,00 0 FY20 FY21 FY22 FY23 FY24 FY25 9MF
Slide 25: Pristine Asset Quality
Pristine Asset Quality Gross Stage 3 (%) Net Stage 3 (%) 1.08% 1.22% 1.24% 1.19% 0.77% 0.81% 0.73% 0.84% 0.85% 0.79% 1.14% 1.08% 0.73% 0.98% 0.99% 0.71% 0.92% 0.94% 0.68% 0.67% FY21 FY22 FY23 FY24 FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 FY21 FY22 FY23 FY24 FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 1+D
Slide 26: Robust Liability Management
Robust Liability Management AUM – Fixed/ Floating Mix (%) 120 % 192.4 204.2 207.4 213.6 222.0 120 % 100 % (₹ bn) 78.0 94.5 113.5 141.7 173.1 204.2 90% 100 % 100 % 80% 80% 70% 80% 59% 60% 56% 60% 66% 60% 69% 70% 70% 70% 70% 60% 70% 50% 60% 40% 40% 40% 30% 41% 40% 44% 40% 20% 34% 31% 30% 30% 30% 30% 2
Slide 27: Diversified Funding Profile & Credit Rating
Diversified Funding Profile & Credit Rating Borrowings Mix (%) (₹ bn) Term Loans Direct Assignment NHB refinance NCDs CP & CC 172.2 179.5 182.9 186.9 193.0 120% 69.5 82.7 102.6 125.2 155.6 179.5 10% 1% 1% 10 0.0 9% 9% 9% 9% 10% 100% 18% 19% 18% 12% 11% 20% 14% 16% 14% 14% 14% 12% 0.0 21% 80% 14% 23%
Slide 28: Disciplined ALM & Comfortable Liquidity Position
Disciplined ALM & Comfortable Liquidity Position Surplus Management ALM Position As on Dec – 25 (₹ bn) Surplus: 12.06 19.21 19.84 25.01 23.57 36.66 49.98 202.20 Assets 181.62 Liabilities 148.98 144.96 152.23 125.41 105.80 80.80 51.90 37.13 32.06 21.58 17.91 9.52 <3 months <6 months <1 year <3 years
Slide 29: Financial Statements
Financial Statements Profit and Loss Statement Balance Sheet ECL Provisioning PAT Reconciliation Net Worth Reconciliation 5 Year Financials & ROE Tree ESG 29 Aavas | Investor Presentation 9MFY26
Slide 30: Profit And Loss Statement
Profit And Loss Statement Particulars (₹ mn ) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Interest Income on Loans (incl. Processing Fee) 5,917.4 5,188.0 14.1% 5,772.9 2.5% 17,288.7 14,991.2 15.3% Interest Income on Fixed Deposits 285.8 352.9 (19.0%) 309.3 (7.6%) 917.9 1,018.5 (9.9%) U
Slide 31: Balance Sheet
Balance Sheet Particulars (₹ Mn ) 31-Dec-25 31-Mar-25 Sources of Funds Share Capital 791.8 791.5 Reserves & Surplus 47,789.6 42,816.8 Borrowings 1,50,033.3 1,39,184.8 Deferred Tax Liability (Net) 903.6 755.7 Other Liabilities & Provisions 3,379.1 2,635.9 Total 2,02,897.4 1,86,184.7 Application of Fu
Slide 32: ECL Provisions
ECL Provisions Particulars (₹ mn ) Stage 1 Stage 2 Stage 3* Total For the period ended Dec’25 Gross Loan Principal Outstanding 1,69,573 2,652 2,066 1,74,291 % of Portfolio 97.29% 1.52% 1.19% 100% ECL Provision Amt. 317 251 700 1,268 ECL Provision % 0.19% 9.45% 33.89% 0.73% For the period ended Mar’2
Slide 33: PAT Reconciliation
PAT Reconciliation Particulars (₹ mn ) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Net Profit as per IGAAP 1,511.7 1,309.6 15.4% 1,430.4 5.7% 4,354.7 3,866.9 12.6% Add / (Less) : Adjustments as per IndAS on account of: Adoption of effective interest rate (EIR) for amortisation of Incom
Slide 34: Net Worth Reconciliation
Net Worth Reconciliation Particulars (₹ mn ) 31-Dec-25 31-Mar-25 Net Worth as per previous GAAP 44,354.2 39,927.1 Adjustments increasing/(decreasing) net worth as reported under previous GAAP: Adoption of EIR for amortisation of Income and expenses - financial assets at (181.1) (230.7) amortised cos
Slide 35: 5-year Financial Snapshot
5-year Financial Snapshot CAGR (FY20 Particulars (₹ bn) FY20 FY21 FY22 FY23 FY24 FY25 to FY25) AUM 78.0 94.5 113.5 141.7 173.1 204.2 21% Disbursement 29.3 26.6 36.0 50.2 55.8 61.2 16% Total Assets 76.6 89.6 110.2 134.1 165.2 186.2 19% Borrowings 53.5 63.5 79.7 98.4 123.4 139.2 21% Net Worth 21.0 24.
Slide 36: ROE Tree - Trend
ROE Tree - Trend Particulars FY20 FY21 FY22 FY23 FY24 FY25 Interest income 11.84% 12.57% 12.10% 12.27% 12.51% 12.40% Less: Interest Expense (incl. Finance Charges) (5.44%) (5.59%) (4.84%) (4.90%) (5.59%) (5.78%) Net Interest Income (NII) 6.41% 6.98% 7.27% 7.38% 6.92% 6.62% Add: Fees and Other income
Slide 37: 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 38: Annexure - Glossary
Annexure - Glossary Ratios Formula Used Ratios Formula Used NIM (%) Net Total Income / Average Total Assets A/E (x) Average Total Asset / Average Equity Opex to Asset (%) Operating cost / Average Total Assets ROCI (%) PAT / Capital Invested Cost to Income (%) Operating cost / Net Total Income (NIM)
Slide 39: 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 -