Godrej Properties Limited (GPL) managing director and chief executive officer Mohit Malhotra has resigned the positions, the company said on August 2.
In a filing to the Bombay Stock Exchange, Godrej Properties said Gaurav Pandey, CEO-North Zone, takes over from Malhotra, who resigned with effect from December 31. Pandey has more than 17 years of experience in the real estate sector, it said.
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"Gaurav Pandey, who is currently the Chief Executive Officer of the North Zone of GPL, will take over from Mohit Malhotra as Managing Director and Chief Executive Officer of GPL," the company said.
Commenting on the leadership changes, Pirojsha Godrej, Executive Chairman, Godrej Properties, said, "I am delighted that we are appointing Gaurav as our next Managing Director and Chief Executive Officer. The strong value creation he has delivered as CEO of our business in the North Zone combined, with his demonstrated passion and leadership, makes him a great fit for this role.
"We believe the opportunities in the Indian real estate sector are immense and that Godrej Properties is very well placed to further strengthen its position in the industry. "
Malhotra said as he embarks on the "next more entrepreneurial phase" of his career, he was pleased to hand the leadership over to Pandey. "Having worked closely with him, I am confident he will guide Godrej Properties to continued success in the years ahead," he said.
Prior to joining Godrej, Pandey was the CEO of Burman GSC, the joint real estate platform of the Burman family and Golden State Capital.
He also served as the senior vice president and head of research & consulting for real estate research firm, PropEquity, and advised private equity funds, mutual funds, foreign institutional investors, developers, NBFCs and banks on real estate investments in India.
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