Hunt Partners appoints Mr. Rajinder Pal Singh as the Independent Director at Nirlon:
About the Company:
Nirlon Limited, incorporated in 1958, was a leading manufacturer of synthetic yarns and industrial rubber products, it was listed on the BSE in 1976. Nirlon commenced development of Nirlon Knowledge Park (“NKP”), an IT Park in Goregaon, Mumbai in 2006. By 2015, Nirlon successfully developed and licensed approximately 1.9 Mn. Sq.ft. across four phases (Phase I-IV) in NKP. An additional 1.1 Mn. Sq.ft. is under development as phase V. One of the largest and very well recognized PE Funds operating in the RE sector, GIC Singapore, invested in the business and subsequently became the majority shareholder in 2015 vide an open offer. The property today boasts of more than 99% occupancy with marquee clients including TCS, Barclays, Deutsch Bank, Morgan Stanley, IBM, EY, Ericsson, Citi among several others. With approximately 3 Mn. Sq.ft. already built and another approximately 2 Mn. Sq. ft. under construction, NKP today hosts more than 25,000 people daily. This is expected to increase to more than 35,000 people post commissioning of Phase V. Promoters Mr. Rahul Sagar and Mr. Kunal Sagar conceptualized and developed NKP. They continue to play an integral role in leading the business today. The project has received multiple awards since 2010, including the Worldwide Achievers – Real Estate Award.
About the Independent Director:
Mr. RP Singh was an IAS Officer of the 1976 batch. He has worked in various areas like finance, industry, urban development and infrastructure development. Mr. Singh, retired as the Secretary, Department of Industrial Policy. He has also been the Chairman & Managing Director, Punjab & Sind Bank and served as Secretary, Department of Industrial Policy & Promotions. Mr. Singh served as the Chairman at National Highways Authority Of India from June 12, 2012 to June 11, 2015. He has been a Non-Executive & Independent director at Maruti Suzuki India Limited since January 25, 2013. He has been a Non-Executive Director at Lodha Developers Private Limited since January 01, 2016.
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