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AAVAS Financiers Ltd.

BSE: 541988 Sector: Financials
NSE: AAVAS ISIN Code: INE216P01012
BSE 00:00 | 23 May 2174.80 -13.95
(-0.64%)
OPEN

2207.15

HIGH

2211.90

LOW

2161.85

NSE 00:00 | 23 May 2171.90 -24.15
(-1.10%)
OPEN

2207.55

HIGH

2212.60

LOW

2160.00

OPEN 2207.15
PREVIOUS CLOSE 2188.75
VOLUME 889
52-Week high 3336.95
52-Week low 2025.00
P/E 48.12
Mkt Cap.(Rs cr) 17,170
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2207.15
CLOSE 2188.75
VOLUME 889
52-Week high 3336.95
52-Week low 2025.00
P/E 48.12
Mkt Cap.(Rs cr) 17,170
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

AAVAS Financiers Ltd. (AAVAS) - Chairman Speech

Company chairman speech

We will invest every resource in ensuring that each one who associates with us uses theword ‘safe' to describe our relationship

Dear shareholders

Overview

Each year my communication to shareholders focuses on the strategic direction of thecompany to enhance stakeholder value. This year I intend to focus on how we intend toprotect stakeholders' interest in the medium-term with the objective to enhance valueacross the future. At Aavas Financiers we believe that to finish first one must firstfinish. This statement has acquired a deeper connotation in today's environment marked bythe sweeping resurgence of the second pandemic wave in India. Any discussion about ourbusiness must begin and end with what needs to be done to protect our most preciouscapital – our people. These are challenging times for people-intensive andknowledge-driven businesses; there is a premium on the ability to protect talent from theeffects of the pandemic. In view of this no achievement can be considered more importantthan the fact that we ended FY 2020-21 with most of our talent capital safe and most oftheir family members protected.

Responsive

As a responsive organization Aavas Financiers had foreseen the impending lockdown inMarch 2020; immediately following the imposition of the lockdown the company empoweredemployees to work from their homes; the company created an operating architecture thatcould be shifted from our offices to homes across cities. This cautious and sensitiveapproach helped the company protect most of its talent capital from the risk of infection.I must add here that we were not completely successful; despite making no compromises withsafety we lost 11 Aavas professionals to the pandemic and I consider this to be ourbiggest loss. No financial number and no profit margin that we reported last year cancompensate for this loss. On the other hand we are grateful that we finished the yearunder review with most of our talent and their family members safe. We believe that this‘internal customer' focus will continue to empower our company to address the needsof our external customers.

Preparedness

At Aavas Financiers we believe that there has never been a moment when our businessmodel has been more relevant than it is now. During the last decade the company deepenedits brand around ‘home ownership'. The company positioned itself as a home ownershipfacilitator for individuals (generally from the low income segment) seeking to graduatefrom rented dwellings. We believe that the pandemic has proved to be a watershed momentfor our business. As individuals will seek to stay safe and live well there will be agreater priority to buy or construct their own homes. In view of this we believe that thesize of our market has widened considerably during the last year; it is only a matter oftime when the need for customers to enhance their home ownership becomes even morepronounced bringing housing financing companies like ours into sharper focus. AavasFinanciers is attractively placed to capitalize on the emerging opportunity for anotherreason. Over the years the company overcame a number of challenges each time emergingsafer and stronger. Our lenders patronize us because we possess a multi-year domainexpertise; our customers turn to us because we service their needs with speed andsensitivity; our employees continue to associate because we provide them career growth andholistic protection. By the virtue of protecting the interests of all our stakeholders weare empowered to provide a clarity that we will invest every resource in ensuring thateach one who associates with us uses the word ‘safe' to describe our relationship. Intoday's unprecedented environment there can be no bigger achievement.

Sandeep Tandon

 

Chairperson and Independent Director

.