Shares of Aavas Financiers Limited surged nearly 4% on Monday, September 29, trading at ₹1,636.40, after CARE Ratings reaffirmed the company’s credit ratings while revising the outlook from ‘Stable’ to ‘Positive’.
The reaffirmation covers long-term bank facilities worth ₹9,662 crore and non-convertible debentures (NCDs) worth ₹1,339.11 crore. Both instruments have been reaffirmed at CARE AA; Positive, reflecting confidence in the company’s financial profile, prudent risk management, and operational discipline. The revised outlook indicates the potential for a future rating upgrade if Aavas maintains its steady growth trajectory and asset quality.
Commenting on the development, MD & CEO Sachinder Bhinder said the recognition validates Aavas’ commitment to strong governance, financial prudence, and customer-centricity. He added that the company remains focused on expanding affordable housing finance solutions, especially in semi-urban and rural India.
Aavas Financiers currently manages assets under management (AUM) exceeding ₹20,000 crore, with over 250,000 active customers across 400+ branches in 14 states. The company has a strong presence in the affordable housing segment, empowering underserved communities with homeownership opportunities.
