AAVAS

Aavas Financiers share price & financials

Price
₹1,481.4
Market cap
₹11.0k Cr
Sector
Financial Services
Calls analysed
8
Latest concall · Q1 FY27 · call held 21 Jul 2026

Aavas Financiers Limited Q1 FY27

ROE 13.34% +1%AUM ₹23,930 cr +15%NIM 7.7%

What went well

  • Robust disbursements of Rs. 16.1 billion, up 41% Y-o-Y, driven by strong pickup in volumes and resource productivity.
  • AUM grew 15.4% Y-o-Y to Rs. 239.3 billion, with monthly AUM additions improving by nearly 50% Y-o-Y.
  • Net profits grew 23% Y-o-Y to Rs. 1.71 billion, supported by 18% Y-o-Y NII growth and 22 bps NIM expansion to 7.70%.

What to watch

  • Anticipated spread compression, with management expecting spreads to fall 'a tad below 5%' due to competitive environment and strategic focus on lower-yield home loans.
  • Small uptick in repayment rates in April-May for specific segments (interest rates >14%, small ticket), though management expects it to normalize by June.
Read the full call →

What Aavas Financiers Limited does

Aavas Financiers Limited is an affordable housing finance company (HFC), established in 2011 (originally as AU Housing Finance Private Limited, a subsidiary of AU Financiers), that lends to low- and middle-income, self-employed and salaried customers in rural and semi-urban India who largely lack access to formal bank financing. It originates and services home loans, loans against property (LAP) and MSME/business loans through its own branch network, using in-house underwriting, risk-containment (RCU) and collections teams backed by technology such as a Salesforce-based loan origination system, an Oracle Flexcube loan management system and an Oracle Fusion ERP. It earns interest income on this retail loan book, which it funds through a diversified base of over 35 lenders including banks, NHB refinance and NCDs. The company listed on the stock exchanges in 2018 and, in FY26, underwent a change of promoter with CVC Capital Partners coming in.

Segments

  • Affordable Housing Finance
Branch network
435 branches across 15 states/UTs
Towns/locations covered
2,500+
Employees
7,649
Branches in Tier 3 and smaller towns
80%+
Active loan accounts
2,70,852
Cumulative families served (home loans enabled)
4,05,000+
Founded 2011Employees 7,649 (March 2026 (FY26)) Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 3 delivered 3 missed 9 open
  • Credit Cost delivered said Q2 FY25 Promised: below 25 bps on a sustainable basis Q1 FY27: Credit costs for Q1 FY27 stood at 24 bps, within the guided range of below 25 bps.
  • AUM Growth missed said Q2 FY25 Promised: 20% plus for FY25 Q1 FY27: FY25 promise period has passed. Not discussed.
  • AUM Growth revised down said Q1 FY26 Promised: 20-25% Q1 FY27: Management committed to a yearly AUM growth of 17%-18% for FY27, confirming the previously revised-down guidance and abandoning the original 20-25% target.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 12.9%, net profit up 23.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue579 597 636 628 667 +15%674 +13%715 +12%709 +13%
Net profit148 146 154 139 164 +11%170 +16%182 +18%171 +23%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −20.3% 1Y

₹1.2k₹1.4k₹1.6kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 5 Feb 2026Q4 FY26 — 5 May 2026Q1 FY27 — 21 Jul 2026

1Y: ₹1,599.7 on 10 Sept 2025 → ₹1,275.1. High ₹1,736.4 (13 Nov 2025), low ₹1,073.9 (23 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+1.6%
21 Jul
Q4 FY26
+4.6%
5 May
Q3 FY26
−2.9%
5 Feb
Q2 FY26
−2.1%
11 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 18.6% a year over 3 years, FY23 to FY26.

Year endingFY23FY24FY25FY26
Revenue₹1.6k Cr₹2.0k Cr₹2.4k Cr₹2.7k Cr
Interest₹591 Cr₹830 Cr₹1.0k Cr₹1.1k Cr
Depreciation₹29 Cr₹33 Cr₹37 Cr₹43 Cr
Net profit₹430 Cr₹492 Cr₹574 Cr₹655 Cr
Net margin26.7%24.4%24.4%24.4%
Cash from operations₹-1.9k Cr₹-2.0k Cr₹-1.7k Cr₹-1.4k Cr
Free cash flow₹-2.0k Cr₹-2.0k Cr₹-1.7k Cr₹-1.4k Cr
ROE14.0%14.0%14.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹78 Cr₹79 Cr₹79 Cr₹79 Cr₹79 Cr₹79 Cr
Reserves₹2.3k Cr₹2.7k Cr₹3.2k Cr₹3.7k Cr₹4.6k Cr₹5.0k Cr
Borrowings₹6.4k Cr₹8.0k Cr₹9.9k Cr₹12.4k Cr—₹15.7k Cr
Other liabilities₹181 Cr₹200 Cr₹254 Cr₹334 Cr₹349 Cr₹476 Cr
Total liabilities₹9.0k Cr₹11.0k Cr₹13.4k Cr₹16.5k Cr₹19.4k Cr₹21.2k Cr
Fixed assets₹58 Cr₹66 Cr₹78 Cr₹116 Cr₹157 Cr₹169 Cr
Capital work in progress₹0 Cr₹2 Cr₹20 Cr₹11 Cr₹0 Cr₹9 Cr
Investments₹4 Cr₹68 Cr₹123 Cr₹182 Cr₹209 Cr₹271 Cr
Other assets₹8.9k Cr₹10.9k Cr₹13.2k Cr₹16.2k Cr₹19.1k Cr₹20.8k Cr
Total assets₹9.0k Cr₹11.0k Cr₹13.4k Cr₹16.5k Cr₹19.4k Cr₹21.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −13.49 pp while DIIs added +10.63 pp. The shareholder count shrank 7% to 1,13,498.

Promoters
48.9%
FIIs
16.3%
DIIs
22.1%
Public
12.7%

Since Jun 2025

  • FIIs −13.49 pp
  • DIIs +10.63 pp
  • Public +2.94 pp

How it drifted, 12 quarters

Over this window FIIs fell from 35.5% to 16.3% — −19.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 39.1%, FIIs 35.5%, DIIs 14.1%, Public 11.2%.Dec '23: Promoters 39.1%, FIIs 32.3%, DIIs 15.3%, Public 13.3%.Mar '24: Promoters 26.5%, FIIs 34.8%, DIIs 24.0%, Public 14.8%.Jun '24: Promoters 26.5%, FIIs 35.9%, DIIs 24.4%, Public 13.3%.Sep '24: Promoters 26.5%, FIIs 35.5%, DIIs 25.6%, Public 12.5%.Dec '24: Promoters 26.5%, FIIs 34.0%, DIIs 25.7%, Public 13.9%.Mar '25: Promoters 26.5%, FIIs 29.7%, DIIs 10.8%, Public 33.1%.Jun '25: Promoters 49.0%, FIIs 29.8%, DIIs 11.5%, Public 9.8%.Sep '25: Promoters 49.0%, FIIs 25.9%, DIIs 14.1%, Public 11.0%.Dec '25: Promoters 49.0%, FIIs 24.7%, DIIs 14.3%, Public 12.0%.Mar '26: Promoters 48.9%, FIIs 16.7%, DIIs 22.1%, Public 12.2%.Jun '26: Promoters 48.9%, FIIs 16.3%, DIIs 22.1%, Public 12.7%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Aavas Financiers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Aquilo House Pte. Ltd. 48.88%unchanged
ICICI Prudential Banking And Financial Services Fu Mutual fund3.80%−0.09 pp
HDFC Trustee Company Ltd. A/C HDFC Balanced Advantage Fund Mutual fund3.47%+0.07 pp
Axis Max Life Insurance Limited A/C Reversionary Bonus Participating - Equity Insurer3.15%+0.27 pp
Sundaram Mutual Fund A/C Sundaram Services Fund Mutual fund2.52%+0.38 pp
UTI-Flexi Cap Fund Mutual fund2.46%+0.16 pp
Government Pension Fund Global Sovereign2.29%−0.50 pp
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund2.19%unchanged
Abu Dhabi Investment Authority - Monsoon Sovereign2.13%+0.48 pp
SBI Banking & Financial Services Fund Mutual fund2.01%newly disclosed
Massachusetts Institute of Technology - 2 Endowment1.10%newly disclosed
Aquilo Universe Pte. Ltd. 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in AAVAS

Filings to Aug 2026

0 new, 5 added, 6 trimmed, 0 sold out — net −0.94 L shares (−1.5%).

Held by funds
₹791 Cr
15 schemes
Biggest holder
HDFC Balanced Advantage Fund
₹273 Cr · 0.3% of that fund
SchemeHoldingLast month
HDFC Balanced Advantage Fund HDFC Mutual Fund₹273 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹160 Crheld
SBI Banking And Financial Services Fund SBI Mutual Fund₹112 Cr−0.09 L
SBI ELSS Tax Saver Fund SBI Mutual Fund₹81 Cr−0.07 L
HDFC Value Fund HDFC Mutual Fund₹72 Cr+0.20 L
Nippon India Banking & Financial Services Fund Nippon India Mutual Fund₹50 Crheld
HDFC Infrastructure Fund HDFC Mutual Fund₹24 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹8 Cr+0.01 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 6 trimmed — net −94,347 shares (−1.5%)

Funds are sitting on
-3%
vs est. average cost
Held by funds
₹791 Cr
15 schemes · ≈ 8.1% of the company
Biggest holder
HDFC Balanced Advantage Fund
₹273 Cr · 0.3% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
3y · since Sep '23

Shares held by these funds +1106%

Aug '23 61.74 L shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Aavas Financiers Limited

Guides on how to read this kind of business and the numbers that matter.