economy

Aditya Virwani is Embassy Group’s new COO

aditya-virwani-is-embassy-groups-new-coo
Aditya Virwani is Embassy Group’s new COOAditya Virwani

, the youngest son of real estate developer

Embassy Group

’s managing director Jitu Virwani, has been appointed chief operating officer.

In his new role, he will oversee the commercial, residential and hospitality business, apart from new developments. “I am currently working on several large development projects, from funding to development stage,” said Virwani.

Before his elevation, he worked as executive assistant to his father across business functions for two years. Prior to joining Embassy, Aditya interned with an NGO called Episcopal and a startup called Brevitas, an off-market commercial real estate platform in San Francisco.

He studied at the University of Massachusetts in Boston and the University of San Francisco.

Embassy Office Parks, an entity formed by Blackstone and Embassy Group, has filed for a ₹5,000 crore real estate investment trust, India’s first, which is expected to hit the market in 2019. “We have seen great response from investors but I cannot speak about it at this moment as we are awaiting regulatory approvals,” said Virwani.

Embassy Office Parks earns annual lease rentals of over ₹2,000 crore from tenants including Google, JP Morgan, Microsoft, Cisco, IBM, Wells Fargo and Mercedes-Benz. It counts more than 150 tenants, over half of which are Fortune 500 companies.

Earlier last year, Jitu Virwani’s elder son Karan Virwani formed a joint venture with New York-based WeWork to tap the flexible office business, operating as a separate entity from the Embassy Group. WeWork will double its seats across New Delhi, Mumbai and Bengaluru and reach 35,000 desks by the year-end.


Leave a Reply

Your email address will not be published. Required fields are marked *