Latest news with #AbhishekKapoor
Hindustan Times
10-05-2025
- Business
- Hindustan Times
Abhishek Kapoor tenders resignation as Group CEO from Puravankara Group, Mallanna Sasalu appointed as CEO-South
Bengaluru-based real estate developer Puravankara Group has announced that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation. The company also announced the appointment of Mallanna Sasalu AS CEO-South. The company in its regulatory filing said that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation effective from the closure of business hours on May 9, 2025. The company in the regulatory filing added that Mallanna Sasalu has been appointed as the CEO-South, with effect from May 9, 2025, subject to the approval of the nomination and remuneration committee and Board of Directors in its forthcoming meeƟngs, respectively. According to the company, Sasalu is a seasoned professional with over 32 years of extensive experience spanning engineering, architecture, and real estate development in both India and Canada. Also Read: Puravankara Ltd in advanced stages of discussion for redevelopment of 3-4 housing societies in Mumbai: Group CEO Sasalu holds a degree in Civil Engineering and is an alumnus of Harvard Business School, adding a strong academic foundation to his diverse professional expertise, the company said. Currently, Sasalu has been instrumental in scaling Provident Housing Ltd. to new heights. The company said in a statement that his strategic leadership and operational expertise have positioned him as a pivotal figure in the organisation's growth and success. On May 9, the company also announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru. According to a statement issued by the company, the project has an estimated gross development value of ₹3,300 crore. Also Read: Puravankara Group announces 24.59-acre joint venture project in North Bengaluru, having ₹3,300 crore potential According to the company, the land parcel has a total saleable area of approximately 3.48 million sq ft, and the project is expected to be launched in the next six months.
&w=3840&q=100)
Business Standard
09-05-2025
- Business
- Business Standard
Real estate major Puravankara Group's CEO Abhishek Kapoor steps down
Bengaluru-based real estate major Puravankara Group on Friday announced the resignation of Abhishek Kapoor from the position of chief executive officer and executive director of the group. In parallel, the company unveiled a joint venture to develop a 24.59-acre land parcel in North Bengaluru, with a gross development value (GDV) of ₹3,000 crore. As per a BSE filing by the company, Kapoor cited 'personal reasons' in his resignation letter and noted that his departure would be effective from 9 May, close of business hours. The joint development agreement with KVN Property Holdings LLP marks the group's continued expansion in the city. The land parcel has a total saleable area of approximately 3.48 million square feet, and the project is expected to launch within the next six months. The site benefits from proximity to Kempegowda International Airport, emerging employment hubs, and ongoing infrastructure development. Ashish Puravankara, managing director, Puravankara Limited, said: 'This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction. The scale, location, and partnership model of this project position it as an ideal platform for integrated development that resonates with the aspirations of urban homebuyers. It aligns with our broader vision of creating high-quality, community-focused housing across emerging corridors.' Mallanna Sasalu, newly appointed CEO of Puravankara Ltd – South, said that North Bengaluru continued to attract discerning homebuyers, driven by infrastructure upgrades and connectivity to key economic hubs. 'This project is conceived on the back of the successes of our previous projects, which validates this joint venture development in this micro-market. The project is expected to come to market in 6–9 months, and we are confident it will be a great addition to our impressive portfolio.' Puravankara competes with other real estate majors such as Prestige, Brigade, and Sobha in the Bengaluru market. The group has also forayed into developing Grade-A commercial real estate, with a presence of 3 million square feet, and is expanding its footprint rapidly.
Business Upturn
09-05-2025
- Business
- Business Upturn
Abhishek Kapoor resigns as Group CEO of Puravankara; Mallanna Sasalu named CEO–South
Puravankara Limited has officially announced a leadership transition in its senior management team. Mr. Abhishek Kapoor, who served as the Executive Director and Group CEO, has tendered his resignation effective at the close of business hours today. The company confirmed the resignation in a regulatory filing and has attached the resignation letter as part of the disclosure in compliance with SEBI's Master Circular dated November 11, 2024. No specific reasons for the resignation were mentioned in the public communication. In parallel, Puravankara has proposed the appointment of Mr. Mallanna Sasalu as CEO–South, effective May 9, 2025, subject to approval by the Nomination and Remuneration Committee and the Board of Directors at their upcoming meetings. Mr. Sasalu is currently associated with Provident Housing Ltd., a subsidiary of Puravankara, and brings over 32 years of experience in engineering, architecture, and real estate development. He is a Civil Engineering graduate and an alumnus of Harvard Business School. According to the disclosure, Mr. Sasalu is not related to any existing directors of the company. Abhishek KapoorPuravankara Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
