The appointment will be effective from April 21, following receipt of necessary regulatory and shareholder approvals. The decision was taken by the Board of Directors after a structured succession planning process aimed at ensuring leadership continuity and strengthening governance as the company enters its next phase of growth.

Singh joins Aavas from Kotak Mahindra Bank, where he served as President – Business Head, Housing Finance, overseeing the home loans business. He brings over 25 years of experience across Kotak Mahindra Bank, Tata Capital and ICICI Bank, with expertise in retail lending, credit, operations, and collections. His career has focused on scaling lending businesses in regulated environments, with emphasis on risk management, governance, and execution.

The company reiterated its focus on disciplined growth in the affordable housing finance segment, prudent underwriting, and continued investments in compliance, distribution, and technology to drive long-term value creation.

Sachinderpalsingh Jitendrasingh Bhinder will continue as senior advisor to ensure continuity and support during the transition period.

Sandeep Tandon, Chairperson of Aavas, said: “Following a comprehensive succession process, the Board believes that Aavas is ready to enter the next phase of scalable growth on it’s ambitious journey. Manu Singh brings relevant sector expertise, operating experience and leadership capabilities, and we look forward to working with him as Aavas builds on the strong foundation already in place. “

Sachinderpalsingh Jitendrasingh Bhinder, outgoing Managing Director & CEO said: 'It has been a privilege to lead Aavas and to be part of its journey in building a strong and resilient affordable housing franchise. I want to place on record my deep gratitude to our Board for their unwavering support, and the trust they placed in the management team at every step of this journey. I am proud of what we have collectively achieved - expanding the business, while upholding strong compliance and governance. I am confident that under Manu’s leadership, Aavas will build on this strong foundation and continue to serve the millions of families who deserve a home of their own.'

On his appointment, Manu Yeshpal Singh said: 'Aavas has established a strong foundation in affordable housing finance, backed by robust risk management and deep on-ground expertise. I look forward to working with the Board, the management team, employees and the regulators to build on this platform and drive the next phase of sustainable growth, while continuing to serve customers with discipline and care.'

AAVAS Financiers is engaged in long-term financing activity in the domestic markets to provide housing finance.

The company’s standalone net profit jumped 16.13% to Rs 170.04 crore in Q3 FY26, compared with Rs 146.42 crore posted in Q3 FY25. Total revenue from operations soared 12.97% to Rs 674.19 crore in Q3 FY26 as against Rs 596.74 crore posted in Q3 FY25.

The scrip declined 0.20% to Rs 1,345 on the BSE.