Smart People: Sandeep Presswala

SMART EYE

Sandeep Presswala

At first sight, Sandeep Presswala, chief operating officer, IL&FS Investsmart, is a typical private sector executive, with usual comforts like a plush office, a fancy PC and obliging attendants in place. But wait.

"I am a different man," he says. A teetotaller and a pure veggie who doesn't enjoy parties, Presswala is more of a spiritual seeker.

"Spiritualism is not about reading books and acquiring knowledge. It's about transformation. I have discovered that putting these values and principles in our work or play is equally effective. These override all management principles," he elaborates.

Coming back to the mundane world, the company has recently launched the first ever value-added PMS (portfolio management scheme) service in the form of a 'fund of funds' called iPreserve. IL&FS Investsmart will invest in various categories of funds available across the board for their clients with a minimum investment of Rs 5 lakh.

But what makes it different from other PMSs in the market? The scheme will provide investment plans to clients covering all available debt and equity schemes with an unbiased viewpoint. "We will survive with commissions from mutual funds," he says, elaborating the revenue stream.

Interestingly, Presswala keeps himself away from dabbling in equity markets. But having said that he is sure the markets will end with gains for the year.

Equipped with a chartered accountancy degree, he started his own investment boutique in 1991. 1997 saw him joining IL&FS where he handled investment banking, project finance and merchant banking, before assuming the current position.

Apart from reading books on religion, Presswala likes music that is based in spiritualism. "I would like to be a part of the internal world," he says.

So does he visit religious places during vacations? "Vacation destinations are decided by my sons," says Presswala, whose wife is also a chartered accountant. One expects the markets, too, to shrug off mood swings and embrace (spiritual) stability!