Aavas Financiers Limited on Monday announced the appointment of Manu Yeshpal Singh as its new Managing Director and Chief Executive Officer, effective April 21, 2026, subject to Reserve Bank of India and shareholder approval. The Jaipur-based affordable housing finance company’s stock rose 1.28 per cent to ₹1,365.20 on the NSE.

Singh joins from Kotak Mahindra Bank, where he served as President and Business Head for Housing Finance. He brings over 25 years of experience spanning Kotak Mahindra Bank, Tata Capital and ICICI Bank, with a background in sourcing, credit, operations, and collections across retail lending businesses.

The appointment concludes a Board-led succession process following the departure of Sachinderpalsingh Bhinder, who will transition to a senior advisory role to support continuity. Under Bhinder’s tenure, disbursements for the quarter ending March 31, 2026 grew 36 per cent quarter-on-quarter and 16 per cent year-on-year. The company added 38 branches during the year, expanding its network to 435 branches nationwide.

Board Chairperson Sandeep Tandon said the company is positioned for its next phase of scalable growth, citing Singh’s sector expertise and operating experience as key factors in the selection.

Aavas shares, however, remain under significant long-term pressure. The stock is down roughly 32.5 per cent over the past year and has lost nearly 39 per cent over five years, considerably underperforming the Nifty 500, which returned approximately 90.5 per cent over the same period. The company’s total market capitalisation stands at ₹10,823.68 crore.

The new MD’s mandate will centre on sustaining growth in affordable housing finance, prudent underwriting, and continued investment in technology and distribution — areas the company has flagged as strategic priorities heading into its next phase.

Published on April 20, 2026