Lodha Group revamps top level to meet Rs 20,000 crore turnover target

April 11, 2016 Economic Times


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 Rs 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 byour 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 Rs 20,000 crore 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. We are currently at the size they were in 2006-07 and aim to achieve the size that they are todayover the next five year .

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