Ramesh Nair named CEO of Mindspace REIT

08 Aug 2023 CW Team

Mindspace Business Parks REIT (Mindspace REIT) announced the appointment of Ramesh Nair as their new Chief Executive Officer (CEO).

According to a regulatory filing, it was stated that the board of directors of K Raheja Corp Investment Managers, the manager of Mindspace REIT, had granted approval for Ramesh Nair to become the CEO and a significant figure within the company, effective from September 1, 2023.

The board acknowledged the resignation of Vinod Rohira, who currently holds the position of CEO and is a key figure within the company. His resignation would be effective as of August 31, 2023. Furthermore, the board sanctioned the appointment of Rohira as an additional (non-executive non–independent) director on the company's board of directors, starting from September 1, 2023.

In his new role, Rohira would also lead with a broader responsibility within the group as the Managing Director and CEO (Commercial Real Estate) at K Raheja Corp. He would also secure a position on the board of the Residential Business – K Raheja Corp Homes.

The company's net consolidated profit witnessed an increase of 6.62 percent during the quarter that concluded on June 30, 2023. The profit after tax for Q1 FY24 amounted to Rs 1.36 billion, marking a rise from Rs 1.28 billion recorded in the corresponding quarter of the previous fiscal year.

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