Emaar India, part of Dubai-based realty major Emaar Properties, has appointed Prashant Gupta as CEO to strengthen its business and is also streamlining processes to make the organisation more efficient.

This is the second major appointment by Emaar India in the last 3 months.

In April, Emaar Properties appointed Hadi Badri as managing director of India business to drive growth following the de-merger of its joint venture with a local partner.

According to sources, Prashant, who was working with Aditya Birla group since 2011, has been appointed as CEO of Emaar India.

He held various positions in Aditya Birla group, including that of President and CEO of online retail business ABOF.com.

When contacted, Emaar India confirmed the appointment of Prashant.

“The company has been streamlining processes and adapting its organisation to become more productive and efficient. The company has recently appointed Prashant Gupta as CEO,” said Emaar India.

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, in April 2016, it decided to end this JV and two months later Shravan Gupta, the then executive vice chairman & managing director of the JV, resigned from the post.

In January this year, the National Company Law Tribunal (NCLT) approved the proposed demerger scheme of Emaar MGF Land, paving the way for two JV partners - Emaar Properties and MGF Development - to go separate ways.

It has raised debt to speed up construction of its various housing projects in Gurgaon, Jaipur, Lucknow, Mohali and Chennai. It also has a land bank of about 5,000 acres for future development.

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