Sobha appoints Jagadish Nangineni as managing director for 5 years

Realty developer Sobha has approved the appointment of Jagadish Nangineni as managing director for a period of five years with effect from 1 April, according to an exchange filing.

"We wish to inform that, at the Board Meeting held today, i.e. Monday, March 14, 2022, subject to the approval of the Shareholders, the Board has approved the appointment of Jagadish Nangineni as an Additional Director in the capacity of Whole-time Director, designated as Managing Director and Key Managerial Personnel of the Company for a period of five years, with effect from 01 April, 2022," the company said in a filing.

Jagadish Nangineni has about twenty years of experience in the fields of real estate, consulting and technology. He is associated with Sobha since 2009 in senior strategic and operational roles.

He was recently deputy managing director, overseeing the operations of Ahmedabad, Chennai, Gurgaon and Pune regions. He established the business ground up at Gurgaon, one of the key markets for the company.

In the past year, Nangineni was actively involved in all facets of the Company's business across India. Prior to Sobha, he worked with technology and management consulting firms. He holds a B Tech in civil engineering from IIT Bombay and PGDM from IIM Calcutta.

Jagadish Nangineni is not related to any of the Directors of the company, Sobha said in a filing.

On Monday, Sobha shares closed 5.42% lower at ₹706.80 apiece on NSE.