Aavas Financiers Limited
| Public | |
| Traded as | |
| ISIN | 🆔INE216P01012 |
| Industry | Financial services |
| Founded 📆 | February 2011 |
| Founder 👔 | |
Area served 🗺️ | India |
Key people |
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| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Aavas Financiers Limited (Aavas) is a Housing Finance Company that provides home loans to customers in the low and middle-income segments of society, especially in the rural and semi-urban locations. To make finance accessible to all, Aavas offers a variety of home and business loans.
Aavas is registered with National Housing Bank as a Housing Finance Company(HFC) and was awarded the license in August 2011. It formally started its operations in March 2012. It is currently being run by a professional management team backed by Marquee private equity players Kedaara Capital and Partners Group. it is led by Mr. Sushil Kumar Agarwal, Founder, Managing Director and CEO and Mr.Ghanshyam Rawat, Co-Founder and CFO.
Aavas got listed on NSE & BSE on 8th Oct 218 and its current market capitalization stands for more than ₹ 10,000 crores as of 14th September 2020. Over the years, AFL has attracted many marquee investors like Capital Group, Nomura, Wasatch Global Advisors, Buena Vista Fund Management, SBI Mutual Fund,Kotak Offshore and Tata ALF Life Insurance etc.
Aavas has registered CAGR growth of 46% in AUM in last 3 years. Annual revenue of ₹903.09 crore in FY' 19-20. Gross Asset Under Management of ₹7,935 Cr. Net Worth of ₹2150.6 crores and Gross NPA and net NPA OF 0.46% and 0.32% respectively as of June 30, 2020. Aavas is adequately capitalized with Total CRAR of 56% and Tier-I CRAR of 53.73%
History[edit]
AAVAS FINANCIERS LIMITED (Aavas) was incorporated in February, 2011 with the name of “Au Housing Finance Private Limited”, having its Registered and Corporate office at 201- 202, 2nd Floor, Southend Square, Mansarover Industrial Area, Jaipur 302020 for carrying out housing finance business in rural and semi urban areas. It formally started its operations in March, 2012. The name of the Company was changed to “Aavas Financiers Limited" (AAVAS) vide fresh Certificate of Incorporation (COI) dated 29th March, 2017.
Operations & Footprint[edit]
Presently, Aavas has a strong network of 259 branches operating in 11 states namely Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Delhi, Uttar Pradesh, Chhattisgarh, Haryana, Uttarakhand, Punjab and Himachal Pradesh.
Listings[edit]
Listing: The equity shares of Aavas are listed on Bombay Stock Exchange where it is a constituent of the BSE 150 Midcap, and the National Stock Exchange of India where it is a constituent of Nifty Midcap 150”.
[edit]
Shareholding: As on 30 June 2020, 24.5% of the equity shares of the company were owned by the Foreign Institutional Investors (FII). Promoter and promoter group holds 53.5% stake in the company.
Top Institutional shareholders as on 30 th June 2020
| Investers Details | % Holding |
|---|---|
| Au Small Finance Bank | 5.94% |
| Capital Group^ | 5.75% |
| Wasatch Global Advisors^ | 5.16% |
| SBI Mutual Fund^ | 3.56% |
| Kotak (Offshore) Asset Management ^ | 2.57% |
| Nomura Assets Management^ | 2.55% |
| Wellington Management | 1.92% |
| Buena Vista Fund Management | 1.49% |
| Tata ALA Life Insurance^ | 1.10% |
Credit Rating[edit]
Company has long term rating of CARE AA-/Stable and short term rating of CARE A1+.The rating is on standalone basis and backed by consistent healthy business growth, good asset quality, robust collection mechanism, high collection efficiency, strong ALM and Liquidity position, adequate capitalization, strong and experienced management team.
Further ICRA has enhanced long term rating of the company from ICRA A+/Positive to ICRA AA-/Stable and short term rating from ICRA is also ICRA A1+.
References[edit]
1. "Annual Report 2019-20" (PDF). Aavas Financiers Ltd .
2. https://www.moneycontrol.com/financials/aavasfinanciers/profit-lossVI/AF17
3. Aavas Financiers Q1 net profit up 11% at Rs 50 crore
4. Aavas Financiers raises Rs 444cr in debt from ADB; to use fund for on-lending to women
6. Aavas Financiers share price up by 2.34% Economic Times.
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