Aavas Financiers Ltd., formerly Au Housing Finance Limited, is a housing finance company registered with the National Housing Bank (NHB), focusing on long-term financing for low and middle-income segments in sub-urban and rural India. Established in 2011, it provides home loans for residential property purchase, construction, and renovations, along with mortgage loans against property. The company leverages technology and data analytics for customer onboarding, underwriting, and risk management, having invested significantly in IT systems between 2014 and 2018.
The company has expanded its branch network to 346 locations across 13 states by March 2023, serving over 129,000 customers, primarily economically weaker sections. Aavas secures financing through various sources, including term loans, NCDs, and refinancing from NHB, and actively engages in securitization and direct assignments. In FY 2022-23, its Assets under Management reached Rs 14,167 crore, with a significant focus on affordable housing finance, supported by a professional management team and diverse funding strategies.
