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- Four Independent Directors Appointed on the Board
- Gautam Hari Singhania appointed as Chairman of the Board
- Harmohan Sahni appointed as MD & CEO
- Gautam Trivedi Appointed as Non-Executive Director
Bengaluru, 25 June 2025: Raymond Realty Limited (RRL) has strengthened its Board by appointing several directors as part of the demerger and ahead of the upcoming listing. The four new Independent Director include K Narsimha Murthy, Ms. Dipali Sheth, Ashish Kapadia and Bharat Khanna. The Board will be chaired by Group Chairman Gautam Hari Singhania, with Harmohan Sahni serving as Managing Director and CEO of Raymond Realty.
The constitution of the Raymond Realty Board is as follows:
| Board Member | Designation |
| Mr. Gautam Hari Singhania | Chairman |
| Mr. K Narsimha Murthy | Independent Director |
| Ms. Dipali Sheth | Independent Director |
| Mr. Ashish Kapadia | Independent Director |
| Mr. Bharat Khanna | Independent Director |
| Mr. Gautam Trivedi | Non-Executive Director |
| Mr. Harmohan Sahni | Managing Director |
Speaking on the new appointments, Gautam Hari Singhania, Group Chairman, Raymond Ltd. said, “I welcome all members to the Raymond Realty Board as we embark on an exciting journey as a focused, pure-play branded real estate company. The Board’s diverse and in-depth expertise will provide invaluable guidance to our passionate and committed management team as we work towards our vision of transforming India’s skyline. With a firm emphasis on professional management, robust corporate governance, shareholder interest and transparency, we are well-positioned to achieve our long-term aspirations.”
Key Appointments
Non-Executive Independent Directors
The Board comprises four distinguished Non-Executive Independent Directors:
Mr. K Narsimha Murthy is a qualified Chartered Accountant and member of the Chartered Institute of Management Accountants. He has served on the Board of National Stock Exchange of India Ltd (NSE), ONGC, LIC Housing Finance Ltd., UTI, Infiniti Retail Limited (Tata Croma) NELCO, Max Life Insurance, Max Healthcare, Max Bupa Health Insurance and many other renowned companies. He presently holds board positions in several companies including Max Financial Services Limited, Max Life Pension Fund Management Limited, Axis Finance Limited, Raymond Limited, Raymond Lifestyle Limited etc. He is also associated with the development of Cost Accounting Record Rules as a Member of Advisory Committee, Dept. of Corporate Affairs, Govt. of India.
Ms. Dipali Sheth holds a Bachelor’s degree in Arts and brings extensive experience in human resources management across IT, FMCG, and MNC banking sectors. She is serving as Independent Director on the Board of UTI AMC, Welspun Corporation Ltd., Adani Wilmar Ltd., Adani Airport Holdings Ltd., Latent View Analytics Ltd., Advent International acquired DFM Foods Ltd., Kedaara Capital sponsored Spandana Spoorthy Ltd. etc., She serves as Chairperson of six Nomination and Remuneration Committees. She has expertise in Strategy, Human Resources, Marketing, Sales/Distribution, Mergers &Acquisitions, transformational growth and restructuring. Earlier, she has served with Royal Bank of Scotland-India and Standard Chartered Bank as Country head for HR and with Procter & Gamble India Ltd in marketing and sales.
Mr. Ashish Kapadia holds a Bachelor’s degree in Commerce and currently serves as Managing Director of Delta Corp Limited. He has been engaged in hospitality and gaming since 2009 and holds board positions in several companies including Raymond Ltd, Deltin Hotel & Resorts Private Limited, and Goodluck Renewable Energy Resources Private Limited.
Mr. Bharat Khanna holds a Bachelor’s degree in Science (Hotel Administration) from Cornell University and brings 25 years of experience in real estate and Hospitality Services. He has previously served with Morgan Stanley as Executive Director and Country head and he is Executive Managing Director and Founding Partner of Och-Ziff Asia Real Estate. He has also worked with Starwood Hotels and Resorts. He serves as Independent Director on the Board of Ventive Hospitality Limited.
Mr. Gautam Trivedi Mr. Trivedi is Co-Founder & Managing Partner of Nepean Capital, bringing over three decades of experience in the Indian and Asian financial industry. He has previously worked with global financial institutions including Religare, Goldman Sachs, Reliance Industries, DSP Merrill Lynch, and CLSA Asia. Mr. Trivedi holds an MBA from the University of Southern California (USC) and Bachelor degrees in Law and Commerce from Mumbai University. He is an Aspen Institute fellow and serves on the boards of several organizations including Collective Artist Networks, Landmark Cars Ltd., Maddock Films, and UFO Moviez India Ltd.
The constitution of Board follows Raymond group’s plan to list the demerged business – Raymond Realty, in early July. This strategic move is expected to unlock significant value for shareholders, offering them participation in a unique equity story featuring one of India’s fastest-growing players in the Mumbai Metropolitan Region (MMR) real estate sector, with a solid runway for future growth.
