Real estate veteran Sanjay Dutt looks set to join the Tata Group’s real estate arm Tata Housing Development Company as its managing director and chief executive. He will be replacing the company’s outgoing MD Brotin Banerjee.
Last week Tata Group had announced about the resignation of Banerjee from the company due to “personal reasons.” Tata Sons owns 99.9% of the equity share capital of Tata Housing.
Dutt is currently working in his capacity as chief executive officer, India operations & Private Funds, at Ascendas-Singbridge. He had joined the company, which is jointly owned by Temasek Holdings and JTC Corporation through a 51:49 partnership, in August 2016.
Banerjee is expected to serve a six-month notice period and oversee the transition along with Banmali Agrawala, president of Tata Group’s infrastructure, defence and aerospace business.
Dutt has more than 23 years of experience in the real estate industry and is known for his turnaround stints. Prior to taking up the assignment with Ascendas-Singbridge, he worked as managing director of international property consultant Cushman & Wakefield’s India operations for over four years. He has also worked as CEO Business at Jones Lang LaSalle and head of corporate services, north & west, CBRE.