Home / Business and Economy / India's First REIT Welcomes Siddharth Nawal as Next Leader
India's First REIT Welcomes Siddharth Nawal as Next Leader
12 Oct
Summary
- Siddharth Nawal to take over as MD and CEO of Nexus Select Trust in 2027.
- Dalip Sehgal to step down after a decade of leadership and successful listing.
- Nexus reported 11% YoY growth in net operating income in Q2 FY27.
Siddharth Nawal is set to become the new Managing Director and Chief Executive Officer of Nexus Select Trust, India's pioneering retail real estate investment trust. His tenure officially begins on January 1, 2027, succeeding Dalip Sehgal.
Nawal, who has been a key figure in Blackstone's India Real Estate team and a director on Nexus's board since November 2025, has been appointed as CEO designate to facilitate a seamless leadership change. He expressed enthusiasm for India's retail sector opportunities and his commitment to enhancing Nexus's portfolio and investor value.
Dalip Sehgal, who has been instrumental in building Nexus into a leading retail platform and guiding its public listing over the past decade, commended Nawal's capabilities. Sehgal expressed confidence in Nexus's continued success under Nawal's leadership and pledged his support for a smooth transition.
In financial highlights from the June quarter of FY27, Nexus Select Trust demonstrated robust performance, achieving an 11% year-on-year increase in net operating income (NOI) to ₹510 crore. Earnings before interest, tax, depreciation, and amortisation (Ebitda) rose by 10.18% year-on-year to ₹491 crore, with revenue from operations reaching ₹681 crore, an 11% year-on-year increase.
