Aavas Financiers Limited has announced the appointment of Mr. Manu Yeshpal Singh as its new Managing Director and CEO, effective from April 21, subject to approval from the Reserve Bank of India. This strategic move is part of a Board-led succession process aimed at ensuring leadership continuity as the company embarks on its next phase.
Mr. Singh joins Aavas from Kotak Mahindra Bank, where he was the President and Business Head of Housing Finance. He brings over 25 years of experience from notable institutions such as Kotak Mahindra Bank, Tata Capital, and ICICI Bank. His expertise spans retail lending, credit, operations, and collections, with a strong emphasis on risk management and governance.
Aavas continues to focus on disciplined growth in the affordable housing finance sector, maintaining prudent underwriting standards and investing in compliance, distribution, and technology. Mr. Sachinderpalsingh Jitendrasingh Bhinder, the outgoing Managing Director & CEO, will remain as a senior advisor to ensure a smooth transition.
Sandeep Tandon, Chairperson of Aavas, expressed confidence in Mr. Singh’s ability to lead the company into its next growth phase, citing his sector expertise and leadership skills. The Board also extended its gratitude to Mr. Bhinder for his significant contributions to the company’s growth and stability.
Under Mr. Bhinder’s leadership, Aavas achieved a 36% quarter-on-quarter and 16% year-on-year growth in disbursements for the quarter ending March 31, 2026. The company expanded its distribution network by adding 38 new branches, bringing the total to 435 across India.
Mr. Bhinder expressed his pride in leading Aavas and his confidence in Mr. Singh’s leadership to continue serving families seeking affordable housing. Mr. Singh, on his appointment, highlighted his commitment to leveraging Aavas’s strong foundation to drive sustainable growth and customer service excellence.
Aavas will continue to provide updates as required by law and its disclosure practices.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).