Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, today announced the appointment of Aravind Maiya as Chief Executive Officer of Embassy REIT with effect from July 1, 2023.
Vikaash Khdloya has expressed his intent to pursue other interests and will step down as CEO effective June 30, 2023, post which he will assume the role of Senior Advisor to the REIT until the end of this year.
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Aravind played a pivotal role in the growth of Embassy REIT since its listing as the Chief Financial Officer. With over 22 years of experience, Aravind rejoins the REIT from Tata Realty, where he was the CFO.
Vikaash and Aravind will work closely together to ensure a smooth transition.
Aravind Maiya, CEO Designate, Embassy REIT, said, “I am delighted to rejoin Embassy REIT to lead its next phase of growth. We have ambitious aspirations, and I’m excited about the potential that lies ahead. I look forward to working again with the wonderful team at the REIT to create long-term value for all our stakeholders.”
Jitu Virwani, Chairman & Managing Director, Embassy Group, said, “I welcome Aravind back and am very pleased for him to take over as CEO of Embassy REIT. Aravind was a core member of the REIT’s management team and was instrumental in driving its success since listing. We’re very grateful to Vikaash for his stewardship of Embassy REIT over the last few years, particularly during the two years of the pandemic. We wish him continued success in his future endeavours.”
Tuhin Parikh, Head of Real Estate India, Blackstone, said, “Vikaash has played a key role in the growth of this portfolio since 2011, and we thank him for his contribution to the success of Embassy REIT. As demonstrated in the recently announced full year results, Embassy REIT’s business is in excellent shape and the REIT delivered a strong business performance with record leasing of 5.1 msf. Under Aravind’s leadership, we look forward to taking Embassy REIT to greater heights.”
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Vikaash Khdloya, CEO, Embassy REIT, said, “After an incredible 12 year journey, I believe the time is right for me to pursue other interests and passions. It’s been a privilege to lead Embassy REIT, and I am extremely proud of the team and the results we’ve achieved over the last four years since our listing. Embassy REIT is very well placed today to deliver on the growth cycle accelerated over the last few years and I wish Aravind all the very best.”
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 45 msf portfolio of nine infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 34.3 msf completed operating area and is home to around 230 of the world’s leading companies.
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The portfolio also comprises strategic amenities, including four operational business hotels, two under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. Embassy REIT’s industry leading ESG program has received multiple accolades from renowned global institutions and was awarded a 5-star rating both from the British Safety Council and GRESB. Embassy REIT was also recognised as the world’s largest ‘USGBC LEED Platinum-Certified’ office portfolio (v4.1 O+M) by Green Business Certification Inc.
