New Delhi: Realty firm DLF Ltd on Saturday announced the appointment of its two whole-time directors Rajeev Talwar and Mohit Gujral as co-chief executive officers (CEOs) of the company with immediate effect.
The decision to appoint Gujral and Talwar as co-CEOs was taken at a meeting of the board of directors held on Friday. In a BSE filing, the country’s largest real estate firm said the board has “entrusted additional responsibilities upon Mohit Gujral and Rajeev Talwar, both of whom are whole time directors of the company, by re-designating/appointing them as Chief Executive Officers of the company with immediate effect”.
In February last year, Talwar and Gujral were appointed as whole-time directors of the company for a period of five years. After the retirement of DLF managing director T.C. Goyal on 31 March this year, Gujral and Talwar were made responsible for signing of all statutory and regulatory filings.
Talwar, who joined DLF in 2006, completed his master’s degree from St Stephen’s College, Delhi University. He started his career as a probationary officer in State Bank of India and was selected for Indian Administrative Service in 1978. He held many important positions in the central and state governments.
Gujral, who is an architect, has a diverse experience of more than 25 years in developing real estate. He got his degree in architecture from CEPT, Ahmedabad. He joined DLF in 2010.
DLF has a land bank of about 300 million sq. ft, of which nearly 50 million sq. ft is under construction. The company has commercial assets, which includes office buildings, shopping malls and SEZs, comprising of about 30 million sq. ft, with an annual rental income of ₹ 2,200 crore. In 2014-15, DLF posted a consolidated net profit of ₹ 540 crore on revenues of ₹ 8,168 crore.
