Aavas Financers appoints V.G. Kannan as chairperson

Aavas Financiers announced that its board has appointed Vellur Gopalaraghavan Kannan as chairperson for a one-year term, effective 1 August 2026.

The board has also inducted Kannan as an additional director in the capacity of a non-executive independent director, effective 1 August 2026. His appointment as an independent director is for a five-year term, from 1 August 2026 to 31 July 2031, subject to shareholders' approval. He takes over as chairperson from Sandeep Tandon.

Kannan is a seasoned banking professional with over 40 years of leadership experience in the Banking, Financial Services and Insurance (BFSI) sector. He Joined the State Bank of India (SBI) as a Probationary Officer in 1978 and progressed to the board position of managing director, overseeing SBI?s domestic subsidiaries and associate banks until July 2016. Prior to joining the SBI Board, he served as managing director & CEO of SBI Capital Markets.

During his career at SBI, Kannan held several senior leadership roles, including chief general manager of the Mid Corporate Group, where he managed funded assets exceeding Rs 1.80 lakh crore. He also headed Forex & Money Markets at SBI Central Treasury and SBI Hong Kong, served as network general manager for Chennai, and was assistant general manager (Fixed Income Markets) at SBI Corporate Treasury, Mumbai.

Manu Singh, chief executive officer of Aavas, said: ?We are pleased to welcome Kannan to the Aavas board as its chairperson and independent director. His exceptional leadership pedigree and deep experience in banking, governance, risk management and financial services will be a tremendous asset to the company as we continue to strengthen our institutional foundations, deepen our governance framework and advance our long-term growth strategy.?

Vellur Gopalaraghavan Kannan said: ?I am truly honoured to join the board of Aavas Financiers at such an exciting stage in its journey. Aavas has built an impressive franchise, underpinned by a strong culture of governance and a genuine commitment to serving its customers responsibly. I look forward to working closely with the board and management to support the company?s sustainable growth and its continued commitment to all stakeholders.?

Incorporated in 2011 and headquartered in Jaipur, Aavas Financiers is a retail affordable housing finance company that primarily caters to low- and middle-income self-employed customers in semi-urban and rural India. Its product portfolio includes home loans, loans for home construction, extension and repair, loans against property, and MSME loans.

The company?s consolidated net profit jumped 12.3% to Rs 142.48 crore on 21.4% increase in total income to Rs 546.80 crore in Q4 FY26 over Q4 FY25.

The counter shed 0.01% to settle at Rs 1,361.50 on Friday.

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