Dubai-based Emaar Properties‘ India CEO Prashant Gupta has resigned from the company citing personal reasons. After his exit, the company has hired his replacement. The name of the new CEO is yet to be announced.
Prashant Gupta joined Emaar India as CEO in June last year. According to reports, Prashant resigned as he decided to move back to Bengaluru for personal reasons.
Prior to joining Emaar India, Gupta was working with Aditya Birla group since 2011. He held various positions including that of President and CEO of online retail business ABOF.com, at Aditya Birla group.
In 2005, Emaar Properties entered Indian real estate market in partnership with India’s MGF group and invested Rs 8,500 crore through joint venture Emaar MGF Land. However, the JV ended two months later in April 2016.
Post-demerger, Emaar India has about 4,500 acres of land bank across the country.
Emaar India is currently developing projects in Gurgaon, Jaipur, Lucknow, Mohali and Chennai.