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Anuj Puri, chairman and country head of JLL India, the country’s largest property advisory firm, has decided to quit to start his own real estate venture. Chief operating officer Ramesh Nair will take over Puri’s position on 1 March.
Puri joined JLL in 2007 when his company Trammell Crow Meghraj (TCM) merged with the Indian arm of global real estate firm JLL. This formidable partnership gave rise to the largest real estate services company on the Indian subcontinent, the company said in a statement on Monday.
“It’s been an incredible 10 years at JLL, but now is the time to step back and reflect before moving in a new direction,” said Puri who has been in the real estate business for 22 years. He will head the company till 28 February.
In a telephonic interview, Puri said he “wants to become an entrepreneur once again,” and start his own real estate venture, without revealing details.
“We have done stunningly well. I have done to the level that I could bring it within JLL and I thought from here onwards it needed different skill sets to take it to the next level. It has been going on in my mind for nearly 14-15 months and for about nine months ago, I agreed with JLL that I will call it quits,” Puri said.
“Going forward, the business requires a more technology-focused, more younger person to be able to drive and that’s where Ramesh was the right fit,” he added.
As chief executive officer (CEO) and country head, Ramesh Nair will be responsible for overall direction, strategy and growth of JLL’s India business. “He joined JLL in 1999, has risen swiftly through the leadership ranks and has been a member of the India Leadership Council since its inception in 2008,” the company said. He will report to JLL’s Asia Pacific CEO Anthony Couse.
In 2013, he was promoted to the role of chief operating officer, India and became an international director in 2014.
“Anuj Puri has been a great asset to JLL over the past 10 years, and has imparted a distinct identity to the firm due to his large industry stature and contributions… I look forward to working with Ramesh closely—and to seeing him put into action exciting new growth plans for our India business, which is almost Rs3,000 crore in size,” Couse said.