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Aavas Financiers Ltd

Aavas Financiers is a Jaipur, Rajasthan based retail, affordable housing finance company, primarily serving low and middle income self employed customers in semi-urban and rural areas in India.


Company got registered with National Housing Bank (subsidiary of Reserve Bank of India) as a Housing Finance Company (HFC) and awarded the license from National Housing Bank (NHB) in August 2011.  Aavas Financiers Limited came out with an initial public offer (IPO) during the period from 25 September 2018 to 27 September 2018. The IPO was a combination of fresh issue of Rs 400 crore and an offer for sale of upto 1.62 crore equity shares from 6 selling shareholders. The IPO was priced at Rs 821 per share. The stock made its debut on the bourses on 8 October 2018.

Business Segment

AAVAS is primarily engaged in the business of providing housing loan to customers belonging to low and middle income segment in semi-urban and rural areas. These are credit worthy customers who may or may not have the income proof documents like IT return, salary slip and hence are financially excluded by other large housing finance companies and banks. AAVAS uses unique appraisal methodology to assess these customers individually. The financing solution need to be appropriated and suitable to them.

A majority of its customers have limited access to formal banking credit. According to ICRA Report, the Company had the lowest Gross NPAs as of March 31, 2018 and the second highest growth rate of assets under management for the last three financial years, among affordable housing finance companies that had assets under management between Rs. 25 billion and Rs. 200 billion.

Area Of Operations

AAVAS caters the needs of various small families in rural areas, towns, and a city's peripheral area and other semi-urban areas to meet their life time dream to own their own house. Presently AAVAS is operating in 10 states namely Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Delhi, Uttar Pradesh, Chattisgarh, Haryana, Uttarakhand and Punjab.

Manpower

The Company has a team of dedicated staff members including highly qualified professionals like Chartered Accountants, Company Secretaries, MBAs etc. who have been contributing to the progress and growth of the Company. The manpower requirement of the offices of the Company is assessed and recruitment is conducted accordingly. Personal skills of employees are fine-tuned and knowledge is enhanced by providing them internal and external training, keeping in view the market requirement from time to time.

Products

AAVAS is engaged in 3 types of products mentioned below under its housing finance business:-

  • Finance for Purchase
    The product is designed to purchase individual dwelling units, flats in low cost buildings, detached and semi-detached units, cluster units, and residential units. This is also applicable for properties under construction or ready built property.
  • Finance for Construction
    The product is designed to offer loans for construction on a plot of land, which has been already acquired.
  • Finance for Home Extension
    This product is designed to offer loans to individuals for extension of an existing home unit, which can include construction of additional rooms, floors etc. AAVAS also launched "Special Urban Low Income Housing Product" and "Specific Women Ownership Product" in line with NHB's refinance scheme for the Special Urban Housing Refinance Scheme for Low Income Households and Refinance Scheme for Women.

CHARGES - Only Rs. 1000 for consultation

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