Shapoorji Pallonji Real Estate names two co-CEOs

Shapoorji Pallonji Real Estate has appointed two co-CEOs as part of a restructuring aimed at accelerating growth and preparing for an upcoming IPO. This new leadership structure will help the company achieve its financial goals. The co-CEOs, Sriram Mahadevan and Sumit Sapru, will report to Managing Director Venkatesh Gopalakrishnan, who will focus on the IPO and strategic initiatives. The company aims for a $1 billion turnover by 2025-26 and plans to raise funds through an initial public offering. This move follows a restructuring of Shapoorji Pallonji's real estate business, consolidating assets under a new holding company. The company has a substantial land bank and plans to expand its presence in the residential market.