Lodha Rejigs Top Deck to Achieve .₹ 20k-cr Turnover Tar­get in 5 Years

Realty de­vel­oper ap­points 11 se­nior as­so­ci­ates; group seeks to be among In­dia’s 10 most prof­itable com­pa­nies

The Economic Times - - Companies - Kailash.Babar@ times­group.com

Mum­bai: Realty de­vel­oper Lodha Group has ap­pointed close to 11 se­nior as­so­ci­ates at var­i­ous lev­els, in­clud­ing CXO, to sup­port its aim to achieve a turnover of .₹ 20,000 crore in the next five years. Many of those hired in the past three months have ex­pe­ri­ence in the con­sumer and banking in­dus­tries.

Re­cent ap­point­ments in­clude chief fi­nan­cial of­fi­cer Jayant Mehro­tra, chief sales of­fi­cer Prashant Bindal, vice pres­i­dent, cor­po­rate fi­nance and equity, Hari Kis­han Movva, and Akhil Jain, ex­ec­u­tive vice pres­i­dent, sales.

“We are a strong be­liever that our growth is led by our peo­ple, tal­ent and our col­lec­tive abil­ity to learn. We aim to be among In­dia’s 10 most prof­itable com­pa­nies, other than state-owned en­ti­ties, with a turnover of over .₹ 20,000 crore by 2021,” Lodha Group man­ag­ing di­rec­tor Ab­hishek Lodha told ET. “To achieve this am­bi­tion, we have iden­ti­fied tal­ent as an im­por­tant pil­lar of growth and will con­tinue to in­vest re­lent­lessly in build­ing a strong, di­verse and pro­fes­sional team.” Seek­ing peo­ple with con­sumer and banking ex­pe­ri­ence was a de­lib­er­ate de-

CFO Jayant Mehro­tra

Chief Sales Of­fi­cer Prashant Bindal

Vice-Pres­i­dent, Cor­po­rate Fi­nance and Equity, Hari Kis­han Movva

Ex­ec­u­tive Vice-Pres­i­dent, Sales, Akhil Jain ci­sion, he said. The group cur­rently em­ploys more than 4,000 as­so­ci­ates and around 75% of its man­age­ment is from a con­sult­ing back­ground, hail­ing from McKin­sey, BCG, Bain and Ac­cen­ture.

“We look up to Hin­dus­tan Unilever, take in­spi­ra­tion from the growth they have achieved in the past few years. We are cur­rently at the size they were in 2006-07 and aim to achieve the size that they are to­day­over the next five years,” he said. The group cur­rently em­ploys over

as­so­ci­ates Around 75% of its mgmt has a con­sult­ing back­ground, hail­ing from McKin­sey, BCG, Bain and Ac­cen­ture

Lodha Group’s con­sol­i­dated rev­enue for the year ended March 2015 was .₹ 8,000 crore. Its chief mar­ket­ing of­fi­cer and chief fi­nan­cial of­fi­cer left the com­pany last year to work on a plan to start a real es­tate com­pany op­er­at­ing in the Mum­bai prop­erty mar­ket.

Bindal will head sales for the or­gan­i­sa­tion, ex­clud­ing the Lodha Lux­ury col­lec­tion and NRI sales. Bindal used to be chief ex­ec­u­tive of­fi­cer at Spice Mo­bil­ity prior to this and has more than 18 years of ex­pe­ri­ence in lead­er­ship po­si­tions in com­pa­nies such as Coca-Cola, Cad­bury and Wal­mart.

Ac­cord­ing to Bindal, who has not worked in realty be­fore, the de­ci­sion to join Lodha was rel­a­tively easy, be­cause the group func­tions quite like a con­sumer goods com­pany.

“We want to iden­tify and con­nect with con­sumer needs. This is a high-ticket pur­chase and con­sumer in­volve­ment is also high. Out of our 450-mem­ber sales team, 100 as­so­ci­ates will meet con­sumers di­rectly to un­der­stand and an­a­lyse their de­ci­sion mak­ing,” said Bindal. CFO Mehro­tra has more than 25 years of ex­pe­ri­ence across in­dus­tries and held the same post at ING Vysya Bank and was part of the ex­ec­u­tive man­age­ment coun­cil.

Jain used to work with Citi­Fi­nan­cial, Reli­gare and Magna FinCorp. Other new hires in­clude San­jay Jad­hav as vice-pres­i­dent, MEP con­struc­tion man­age­ment, Vinod Singh Uprari, vice-pres­i­dent, sales, Man­mo­han P Awasthi, vice-pres­i­dent, fi­nance, Dheeraj K Dhawan, vi­cepres­i­dent, sales (com­mer­cial prop­er­ties), Mu­n­ish Suri, vice-pres­i­dent, sales, San­jeev Pathak, vice- pres­i­dent, sales, and Van­dana Kamra, vice-pres­i­dent, mar­ket­ing.

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