Puravankara Strengthens Leadership, Appoints Deepak Rastogi as New Group CFO
Puravankara has announced the appointment of Deepak Rastogi as the new Group Chief Financial Officer (CFO), effective January 15, 2025. Rastogi brings a wealth of experience to the company, having previously served as the President and Group CFO at Deepak Fertilisers and Petrochemicals Ltd, a leading chemical company based in Pune. Before his tenure at Deepak Fertilisers, Rastogi held significant roles at Tata AutoComp Systems, where he contributed to the company’s growth strategy and financial management.
Rastogi is a qualified Chartered Accountant and holds an MBA degree from the SP Jain Institute of Management and Research, further enhancing his credentials. His career spans across various leadership roles in financial management, strategy, and transformation. This experience positions him well to drive Puravankara’s financial growth as it continues to expand its footprint in India’s dynamic real estate market.
Along with Rastogi’s appointment, the company has promoted Neeraj Gautam, the current President of Finance, to the role of Deputy Chief Financial Officer. This move signals Puravankara’s commitment to strengthening its leadership team and ensuring a smooth transition as the company embarks on its next phase of growth.
The real estate sector in India, particularly in cities like Bengaluru, has seen considerable activity in recent years, and Puravankara has been at the forefront of this expansion. The company has been expanding its portfolio, particularly outside its traditional southern markets, and has made significant strides in Mumbai and Pune. Puravankara has secured several redevelopment projects in Mumbai, including some in the highly lucrative South Mumbai market, which have attracted a great deal of attention from investors and customers alike.
Puravankara’s leadership transition comes at a time when the real estate sector in India is witnessing positive momentum, despite challenges such as fluctuating demand and rising construction costs. With a robust pipeline of upcoming projects, Puravankara’s strategic focus will likely continue to be on strengthening its presence in key markets, expanding its residential offerings, and diversifying its portfolio into commercial real estate, particularly office spaces.
The company’s decision to appoint Rastogi is viewed as a strategic move to further enhance its financial governance as it scales operations and continues to focus on business development. Rastogi’s expertise in handling large-scale financial operations and his experience in leading financial transformations will be invaluable as Puravankara aims to align its financial practices with the company’s long-term vision.
Puravankara's efforts in business development and its upcoming projects are expected to help the company maintain a strong position in India’s competitive real estate market. The appointment of a highly experienced professional like Deepak Rastogi is a clear indication of the company's commitment to strengthening its leadership team and ensuring continued growth.
