D B Realty Limited informed that a subsidiary of the Company has appointed Mr. Rahul Pandit, as President & Executive Director and as Senior Management Personnel (SMP) effective March 1, 2024. Subject to necessary approvals and upon the proposed demerger scheme becoming effective, it is intended that Mr. Rahul Pandit will be appointed as the Managing Director & CEO of the demerged hotel entity, proposed to be listed on both the BSE & NSE.
Mr. Rahul Pandit has over 30 years of start-up, organization build out, operating and turnaround experience and has worked and trained across India, USA and Singapore. He led as Chief Executive Blackstone's India logistics platform, Horizon Industrial Parks. He was previously the MD & CEO of Hamstede Living, a Warburg Pincus JV for rental housing. Mr. Pandit was earlier the President & ED of Lemon Tree Hotels, and later the MD & CEO of TATA Group's Ginger Hotels. He also serves as an Independent Director on the Board of Le Travenues Technology Ltd. - an online travel agency owning ixigo, ConfirmTkt and Abhibus brands. A member of the 1988 Indian Karate
Team, he is also a Member - CII National Committee on Tourism & Member - CII National Committee on Logistics.