Aavas Financiers Limited said its board approved the appointment of Manu Yeshpal Singh as managing director and chief executive officer, subject to Reserve Bank of India and shareholder approvals, effective April 21. The appointment followed a structured, board-led succession process to ensure continuity of leadership, strategy and governance as the company enters its next phase. The board said the move reflected its focus on sustaining strategic direction and governance as the firm pursues scalable growth. Singh joins from Kotak Mahindra Bank where he served as president and business head, housing finance, overseeing the home loans business.

He brings more than 25 years of experience across Kotak Mahindra Bank, Tata Capital and ICICI Bank and has scaled retail lending businesses across markets. His career included sourcing, credit, operations and collections, with experience operating in regulated environments and a focus on risk management, governance and execution discipline. The board said the appointment aligns with Aavas's strategic priorities for disciplined growth in affordable housing finance. His operational background will complement the company's on-ground reach and distribution capabilities.

The company said it will continue to pursue prudent underwriting, investment in compliance, distribution and technology, and long-term value for stakeholders. Sachinderpalsingh Jitendrasingh Bhinder will remain as a senior adviser to provide continuity. Under his leadership the company delivered improving operating momentum, with disbursements in the quarter ended March 31, 2026 growing by 36 per cent quarter on quarter and 16 per cent year on year, and the branch network expanding by 38 during the year to reach 435 branches. The board expressed appreciation for the outgoing chief executive's contribution to the growth and institutionalisation of the business.

The chairperson said the board believed the company was ready to enter the next phase and welcomed the incoming chief executive's sector expertise and leadership. The incoming chief executive indicated his intention to work with the board, management, employees and regulators to build on the company's foundation and drive sustainable growth. The company said it will provide further updates in line with applicable law and disclosure practices.