Investor Presentaiton

Affordable Housing is a Secular Growth Story Backed by Long Term Structural Tailwinds The Affordable Housing Loan segment has a large headroom to grow Affordable Housing Loan Market Size (USD Bn) Affordable HFCs expected to gain market share Affordable HFCs Housing AUM (USD Bn) 44 47 53 70 10 FY18 FY20 FY22 FY25E 4 5 Aavas FINANCIERS LTD SAPNE AAPKE, SAATH HAMAARA 10 6 FY18 FY20 FY22 FY25E Share of AHFCs in total AHF Market (%) 8% 10% 11% 14% Backed by Long-term structural tailwinds Large headroom - one of the lowest mortgage penetrations globally... ...along with burgeoning middle-class population... ...with Tier-Il cities witnessing increasing share of India's population Mortgage Penetration as a % of GDP UK USA Population (Bn) 1% CAGR 1% CAGR 1.53 1.42 68% 1.33 3% Share of population of cities ranked 26-150 (by population)¹ Population (Mn) 26% 4% CAGR 4% 31% 11% 5% CAGR 52% 47% Share of Singapore Japan Malaysia 44% population 55% 52% 6.0% 8.5% 37% 39% 16% 14% 5% 34% 2016 2021 2031E China 18% 2011 2021E India 11% ■Lower Class (<INR 0.125 Mn p.a.) ■Middle Class (INR 0.5-3 Mn p.a.) Source: Credit Rating reports, Research reports; Note: 1 Ranking of population basis 2011A population Aspirers (INR 0.125-0.5 Mn p.a.) Rich (> INR 3 Mn p.a.) 76 120 19

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