Aavas Financiers has announced the appointment of Manu Singh as its new Managing Director and Chief Executive Officer (CEO), subject to approval from the Reserve Bank of India, following the resignation of Sachinderpalsingh Jitendrasingh Bhinder. The company said the appointment ensures leadership continuity while maintaining its existing growth and governance framework.
The transition, expected to take effect from April 21 upon regulatory and shareholder clearances, comes after a structured, Board-led succession process and reflects a continued focus on leadership continuity, strategic stability, and governance as the company moves into its next phase.
Singh joins Aavas from Kotak Mahindra Bank, where he served as President and Business Head for Housing Finance. With over 25 years of experience across institutions such as Kotak Mahindra Bank, Tata Capital, and ICICI Bank, his background spans key areas including credit, operations, collections, and distribution. His experience has largely been centred on scaling retail lending businesses within regulated environments, with an emphasis on risk management and execution discipline.
The leadership change comes as Aavas closes a year marked by steady operational performance. For the quarter ending March 31, 2026, the company reported a 36% quarter-on-quarter growth in disbursements and a 16% increase year-on-year, indicating improved execution across its branch network. Asset quality remained stable during this period, while the company expanded its distribution footprint by adding 38 branches over the year, taking its total network to 435 branches nationwide.
The Board acknowledged the contribution of outgoing Managing Director and CEO Sachinderpalsingh Jitendrasingh Bhinder, under whose leadership the company maintained consistent performance and strengthened its operational momentum. Bhinder will continue to be associated with Aavas in a senior advisory capacity to support the transition and provide continuity where required.
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.”
He further added, “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.”
