Mahindra Lifespace Developers Limited Appoints S. Durgashankar as Additional Non-Executive Non-Independent Director
March 23, 2021 at 05:08 am EDT
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Mahindra Lifespace Developers Limited at its board meeting held on March 23, 2021, approved appointment of S. Durgashankar as an Additional Non-Executive Non-Independent Director effective March 23, 2021. S. Durgashankar (Durga) is currently President - Group Controller of Finance & Accounts and Member of the Group Executive Board at Mahindra & Mahindra Ltd. (M&M). He is also Chairman of Mahindra Integrated Business Solutions Pvt. Ltd., Mahindra North American Technical Centre Inc. USA and Mahindra Vehicle sales and Service Inc. USA. He also serves on the boards of many Group entities, listed & unlisted, domestic & international. Prior to his current assignment, he was President - Group M&A, Corporate Accounts & Group Secretarial and Member of the Group Executive board and was instrumental in setting up the Mergers & Acquisitions (M&A) division at M&M. The M&A division at M&M has successfully completed over 125+ Inorganic transactions both (Domestic and International) for the Group. At M&M he has held various senior positions including as Corporate Treasurer and Head of Investor Relations. He was the CFO of Mahindra Satyam, when it was taken over by the Mahindra Group and was responsible for the company becoming current with respect to its Indian GAAP reporting requirements. Before joining M&M Group he was the Group CFO of a group of businesses with interest in the power sector, where he played a key role in the parent company of that Group getting listed at the NSE. Earlier he headed one of the Strategic Business Units of a Bank where he acquired rich experience in project evaluation, lending and corporate restructuring. He has served /serving as nominee Director on the board of various listed/unlisted companies. During his overall work experience of over 35 years, he has handled a wide spectrum of M&A, Corporate Finance and Investor Relations assignments, at senior levels.
Mahindra Lifespace Developers Limited is an India-based real estate development company. The Company is engaged in developing residential projects in the premium and value housing segments, as well as integrated cities and industrial clusters. Its segments include Projects, Project Management and Development, and Operating of Commercial Complexes. Projects, Project Management & Development segment of the business includes income from sale of residential units across projects, project management and development in India. Operating of Commercial Complexes segment of the business includes rental income from commercial properties at Delhi. Its projects include Roots, Vicino, Alcove, Meridian, Happinest Palghar 1, Happinest Palghar 2, Happinest Kalyan 1, Happinest Kalyan 2, Centralis, Happinest Tathawade, Bloomdale, Luminare, Aqualily, Lakewoods, Happinest Avadi, Happinest MWC and others.