Valor Estate Limited (formerly D B Realty) announced key leadership transitions effective February 12, 2026. Mr. Mahesh Gandhi is retiring as an Independent Director upon completing his maximum tenure. He is being replaced by the appointment of Mr. Sundaram Rajagopal as a new Independent Director for a five-year term, subject to shareholder approval. Consequently, the Board approved a full reconstitution of all major committees, including the Audit, Nomination & Remuneration, and CSR Committees.
Cessation of Independent Director
The company formally announced the cessation of Mr. Mahesh Gandhi (DIN: 00165638) as an Independent Director, effective at the close of business hours on February 11, 2026. This retirement is due to the completion of two terms of five years, as stipulated under Section 149(11) of the Companies Act, 2013.
Appointment of New Independent Director
Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Sundaram Rajagopal (DIN: 01951392) as an Independent Director. This appointment will be effective from February 12, 2026, for a term of 5 years, pending shareholder approval.
Profile of Mr. Sundaram Rajagopal
Mr. Rajagopal, aged 59 years, brings extensive experience to the role. He holds degrees including a Bachelor of Science in Civil Engineering from the University of Texas at Austin, a Master of Science in Civil Structural Engineering from the University of California at Berkeley, and an MBA in Finance with Distinction from Harvard Business School. He possesses over 26 years of Real Estate experience, having previously served as a Managing Director for Starwood Capital Group in Asia and CEO Real Estate of private equity. He was previously associated with the Company in various director capacities between 2007 and 2019.
Committee Reconstitution Effective February 12, 2026
Consequent to the changes in directorship, the Board approved the reconstitution of several Board Committees effective from February 12, 2026.
Audit Committee
- Chairman: Mr. Sundaram Rajagopal (Independent Director)
- Member: Mr. Shahid Balwa (Vice- Chairman & Managing Director)
- Member: Mr. Maryam Khan (Independent Director)
Nomination & Remuneration Committee
- Chairman: Mr. Sundaram Rajagopal (Independent Director)
- Member: Ms. Maryam Khan (Independent Director)
- Member: Mr. Rajeev RA (Independent Director)
Stakeholders Relationship Committee
- Chairman: Mr. Rajeev RA (Independent Director)
- Member: Mr. Shahid Balwa (Vice- Chairman & Managing Director)
- Member: Mr. Sundaram Rajagopal (Independent Director)
CSR Committee
- Chairman: Mr. Sundaram Rajagopal (Independent Director)
- Member: Mr. Vinod Goenka (Chairman & Managing Director)
- Member: Mr. Rajeev RA (Independent Director)
Risk Management Committee
- Chairman: Mr. Vinod Goenka (Chairman & Managing Director)
- Member: Mr. Shahid Balwa (Vice- Chairman & Managing Director)
- Member: Mr. Sundaram Rajagopal (Independent Director)
Finance & Investment Committee
- Chairman: Mr. Shahid Balwa (Vice-Chairman & Managing Director)
- Member: Mr. Maryam Khan (Independent Director)
- Member: Mr. Sundaram Rajagopal (Independent Director)
Source: BSE
