Raymond Realty Strengthens Board Ahead of Listing, GH Singhania appointed Chairman

New Delhi, June 25, 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 directors include K Narsimha Murthy, Dipali Sheth, Ashish Kapadia and Bharat Khanna. The Board will be chaired by Group chairman Gautam Hari Singhania with Harmohan Sahni serving as MD and CEO of Raymond Realty.
 
The constitution of the Raymond Realty Board is as follows :

“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,” said Singhania

“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
 
Four Non-Executive Independent Directors

K Narsimha Murthy is a qualified CA and member of the Chartered Institute of Management Accountants. He has served on the Board of 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 is on the Board of 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, Department of Corporate Affairs.
 
Dipali Sheth is a BA and brings extensive experience in human resources management across IT, FMCG and MNC banking sectors. She is an 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, HR, marketing, sales/distribution, mergers and acquisitions, transformational growth and restructuring. She was with Royal Bank of Scotland-India and Standard Chartered Bank as country head for HR and with Procter & Gamble India in marketing and sales.
 
Ashish Kapadia is BCom and is MD 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.
 
Bharat Khanna is a BSc (hotel administration) from Cornell University and brings 25 years of experience in real estate and hospitality Services. He had served with Morgan Stanley as executive director and country head and he is executive MD and founding partner of Och-Ziff Asia Real Estate. He has also worked with Starwood Hotels and Resorts. He is an independent director on the Board of Ventive Hospitality Limited.
 
Gautam Trivedi is Co-founder and Managing Partner of Nepean Capital, bringing over three decades of experience in the Indian and Asian financial industry. He was with global financial institutions, including Religare, Goldman Sachs, Reliance Industries, DSP Merrill Lynch and CLSA Asia. He is an MBA from the University of Southern California and bachelor degrees in law and commerce from Mumbai University. He is an Aspen Institute fellow and serves on the Boards of several organisations, including Collective Artist Networks, Landmark Cars Ltd., Maddock Films and UFO Moviez India Ltd.
 
The Board’s constitution follows Raymond Group’s plan to list the demerged business, Raymond Realty, in early July. The 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 real estate sector with a solid runway for future growth.