New Delhi: Realty firm Puravankara Projects on Monday 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 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," the Bengaluru-based developer said in a filing to the BSE.

The board, in its meeting held on 15 May, 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 is present 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.

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