Aavas Financiers Limited has announced a major milestone as it surpasses ₹20,000 crores in Assets Under Management (AUM). The affordable housing finance company’s shares were trading at ₹1,983.65, up by ₹3.65 or 0.18 per cent on the NSE at 3.05 pm today.
Since its inception, Aavas Financiers Limited has disbursed ₹33,500 crores to over 3.62 lakh customers. Operating 373 branches across 14 states, with 80 per cent located in Tier 2 to Tier 5 towns, the Jaipur-based lender continues to focus on underserved markets.
Managing Director & CEO Sachinder Bhinder credited stakeholders, customers, partners, and employees for this achievement. He emphasized the company’s commitment to serving unbanked and underbanked populations in smaller towns.
Amid favorable conditions for India’s housing sector, including rising disposable incomes and government initiatives promoting affordable housing, Aavas Financiers’ milestone is significant. According to RBI estimates, India faces a housing shortage of 100 million units, with 95 per cent of the demand coming from lower-income groups.
Established in 2011, Aavas Financiers primarily serves low- and middle-income self-employed customers in semi-urban and rural areas with limited access to formal banking credit. The company aims to become “India’s largest and most trusted affordable housing finance company” according to its leadership.
The achievement reflects the company’s commitment to its mission, amidst the growing demand for affordable housing solutions in India.
