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Manu Singh-currently heading at Kotak Mahindra Bank-is likely to take over as the next CEO, said the sources cited immediately above. CVC, which acquired control last year, holds a 48.95% stake in the through its fund Aquilo House.
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The move comes at a time when the company’s market performance has been under pressure. With a market capitalisation of about ₹10,000 crore, the stock has declined nearly 25% over the past six months, reflecting around growth visibility and executions.
“The company’s growth has been relatively subdued compared to its closest peers, which are clocking average monthly home loan disbursements of ₹800-₹1,000 crore, while Aavas is operating at roughly half that pace. The new investor is keen to put the company on a sharper growth trajectory, which has necessitated a leadership change,” said a person familiar with the matter.
A spokesperson for confirmed the departure of Singh, adding that a new home loan head has been appointed. ” has decided to move on from the Bank to pursue external opportunities,” the lender said in a statement to ET. “Nakul Saxena, who currently heads the Loan Against Property business, has taken over responsibility for the Home Loans business.”
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Aavas Financiers, Sachinder Bhinder and Manu Singh did not respond to requests for comment.
The leadership transition also comes amid a broader reset underway at Aavas following the change in ownership. Analysts say private equity-backed financial institutions typically push for tighter execution, sharper return metrics and faster scale-up post-acquisition, especially in segments like where competition has intensified and cost of funds remains a key differentiator. Bhinder has served as MD and CEO for over three years. Prior to that, he led Aavas Finserv’s MSME business for a similar period and spent more than eight years managing the housing portfolio at Kotak Mahindra Bank.
As of December 2025, Aavas reported a loan book of ₹22,203 crore and a profit after tax of ₹170 crore.
His likely successor brings significant depth in retail lending. Manu Singh has over two decades of experience, including more than six-and-a-half years at Kotak Mahindra Bank-around two-and-a-half of which were spent heading its housing finance portfolio. Prior to that, he spent nearly 18 years at , overseeing personal loans and consumer finance. His appointment is expected to signal a renewed focus on process discipline, distribution scale-up and strengthening the core home loan franchise, even as the company navigates a more demanding regulatory and competitive environment.
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