New Delhi: Shapoorji Pallonji Real Estate Pvt. Ltd. (SPRE) has established a new leadership structure in which two CEOs will report to the managing director of the business, according to sources.
Following a reorganisation at Shapoorji Pallonji Real Estate (SPRE), Sriram Mahadevan, who currently serves as Managing Director of SPRE’s mid-income housing platform Joyville, has been appointed as CEO of SPRE. Sumit Sapru, the former CEO of SPRE, will continue to serve as the CEO within the real estate holding company, though his specific portfolio is not detailed in this announcement.
Previously, Venkatesh Gopalakrishnan held the position of MD and CEO. In the new structure, he will serve as Managing Director of SPRE and also take on the role of Director at the group promoter’s office. Both Sriram Mahadevan and Sumit Sapru will report to Venkatesh Gopalakrishnan.
This restructuring of the 160-year-old infrastructure-to-energy conglomerate Shapoorji Pallonji Group’s real estate arm is being undertaken in preparation for an upcoming Initial Public Offering (IPO).
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