Shriram Properties appoints five independent directors

IRB Infrastructure Developers  | In 2020 so far, the share price has moved up 76 percent to Rs 131.20. It's trailing twelve months (TTM) P/E was 6.40 multiple while 5-year average P/E was 8.30 multiple.

Realty firm Shriram Properties on Friday said it has appointed five independent directors to its board, including retired home secretary Anil Goswami.

The new independent directors who have joined the board are T S Vijayan (former chairman of LIC as well as IRDA), Anita Kapur (former chairperson of CBDT), K G Krishnamurthy (MD, HDFC Property Ventures), Professor R Vaidyanathan (retired professor of finance, IIM-B) and Anil Goswami (retired home secretary), the company said in a statement.

The board also elected M Murali as the chairman and managing director of the company. The new board comprise nine members, including two investor nominees and five independent directors.

Murali said the new board would add value to the company's endeavours, as it embarks on the next phase of growth. "We will leverage their experience to further strengthen our governance and managing systems."

Shriram Properties is part of the Shriram Group, which is a prominent business group with four decades of operating history and a well-recognised brand in India.