AAVAS Financiers Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Net profit of AAVAS Financiers rose 12.34% to Rs 142.48 crore in the quarter ended March 2024 as against Rs 126.83 crore during the previous quarter ended March 2023. Sales rose 21.42% to Rs 546.02 crore in the quarter ended March 2024 as against Rs 449.69 crore during the previous quarter ended March 2023.

For the full year,net profit rose 14.21% to Rs 490.69 crore in the year ended March 2024 as against Rs 429.64 crore during the previous year ended March 2023. Sales rose 25.43% to Rs 2017.90 crore in the year ended March 2024 as against Rs 1608.76 crore during the previous year ended March 2023.

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AAVAS Financiers has received reaffirmation in credit rating at CARE AA; Stable and CARE A1+ for various debt facilities availed by the company.

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AAVAS Financiers will hold a meeting of the Board of Directors of the Company on 25 April 2024.

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The company’s disbursements are higher by 39% as compared with Q3 FY24.

For the fourth quarter, the company recorded incremental borrowings of Rs 1,850 crore. The value of the incremental securitized loan portfolio for the period under review was Rs 400 crore.

AAVAS Financiers’ liquidity position as on 31 March 2024 was Rs 3,000 crore.

AUM stood at Rs 17,300 crore as on 31 March 2024, up 22% YoY.

As per BSE bulk deals data for 04 April 2024, Smallcap World Fund Inc sold 582,973 shares (equivalent of 0.01% stake) AAVAS Financiers at an average price of Rs 1,420.19 per share.

Smallcap World Fund Inc held 1.92% stake in the company as on 31 March 2024.

AAVAS Financiers is housing finance company that is engaged in providing retail home loans with focus on affordable housing segment to customers in semi-urban and rural regions. As on 31 December 2023, the company operates through a network of 351 branches in 13 states – Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Delhi, Haryana, Punjab, Chhattisgarh, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Odisha and Karnataka.

The company had reported 8.96% rise in consolidated net profit to Rs 116.72 crore on a 23.51% increase in revenue to Rs 508.07 crore in Q3 FY24 over Q3 FY23.

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