Realty firm Puravankara Projects today said that Ashish Puravankara has been promoted as the Managing Director of the company.
Puravankara, who is currently joint MD in the company, has also been appointed its Chief Executive Officer.
His father, Ravi Puravankara, the current Chairman and Managing Director (CMD) of the company, will hold the post of Chairman.
"As a part of corporate restructuring, the board of directors approved the proposal to re-designate Ravi Puravankara, the Chairman and Managing Director of the company, as the Chairman of the company," Bengaluru-based developer said in a filing to the BSE.
The board, in its meeting held on May 15, also approved the proposal to re-designate Ashish Puravankara as Managing Director of the company.
"Ashish has also been appointed as the Chief Executive Officer of the company," the filing added.
Nani R Choksey, the deputy MD, has been re-designated as Joint MD, while the group's CEO Jackbastian K Nazareth has been re-designated as Chief Development Officer.
Puravankara Projects has presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad and Mysore.
The company has 24.87 million sq ft of projects under development, while an additional 81.83 million sq ft is in the pipeline.
