CapitaLand Investment Ltd (CLI) on Wednesday announced the appointment of Gauri Shankar Nagabhushanam as chief executive officer of India business parks, with effect from April 1.
Gauri Shankar will bring over 20 years of experience to the role and will succeed Vinamra Srivastava, who will relocate to Singapore to assume a new role within the CapitaLand Group. Formerly the head of investment and chief financial officer of Ascendas-Firstspace, CLI’s India logistics venture, Gauri Shankar will be based in Bengaluru, the headquarters for CLI’s India business parks.
He will oversee CLI’s India business parks operations, investment, development, asset management and private fund management, as well as grow its portfolio of assets in the country. Jonathan Yap, CEO of Fund Management, who also oversees CLI’s business in India, said: “India is a core market for CapitaLand Investment, and it has significant potential for expansion as part of our growth strategy to position the company as a leading global real estate investment manager.”
A graduate of London Business School, Gauri Shankar has also held key positions in Accenture, Deloitte, Samba Financial Group and TAIB Bank, in Singapore, India as well as in the Middle East and North Africa. CLI has a presence in India across the full real estate value chain from owning, developing and managing properties to fund management through Ascendas India Trust (a-iTrust) and private funds.
The group has a strong presence in India with a portfolio of over 20 business and IT parks, industrial, lodging, logistics, as well as a data centre campus across seven cities Bengaluru, Chennai, Goa, Gurugram, Hyderabad, Mumbai and Pune.
Around 80 per cent of its portfolio is under a-iTrust and three private funds, while 20 per cent are under its balance sheet. CLI currently has over 20 million square feet of assets under management (AUM) valued at about Singapore dollar 3.3 billion (Rs 18,200 crore). In October 2019, CapitaLand said it aims to more than double its AUM in India to around Singapore dollar 7 billion (Rs 38,600 crore) by 2024.