AAVAS Fin soars after recording disbursements of Rs 18.9 bn in Q4

AAVAS Financiers jumped 6.54% to Rs 1551.55 after the company reported 20% YoY jump in disbursements to Rs 1,890 crore in Q4 FY24.

The companys 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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