Lodha group India revamps Top Management to meet $3000 million turnover target

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 #3000 Million 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 byour people, talent and our collective ability to learn. We aim to be among India’s 10 most profitable companies, other than stateowned entities, with a turnover of over Rs 20,000 crore (Approx $ 3000 Million) by 2021,”

Lodha Group MD 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 decision, 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.

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 CocaCola, 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 highticket purchase and consumer involvement is also high. Out of our 450member sales team, 100 associates will meet consumers directly to understand and analyse their decision making,” said Bindal. CFO Mehrotra has over 25 years of experience across industries and held the same post at ING Vysya Bank and was part of executive management council. (News extract from Economic Times)