MAM
Plotting big moves Tribeca ropes in Dharam Mehta to lead new estates vertical
MUMBAI: Tribeca’s next chapter is being built brick by brick, and plot by plot with a fresh new leader at the helm. Tribeca Developers, known for its luxury real estate playbook, has appointed Dharam Mehta as managing partner of Tribeca Estates, a newly launched vertical focused on plotted developments, branded villas, and hospitality-led projects. With this move, the ‘trophy property’ developer is now stepping beyond high-rises to explore high-growth real estate segments with serious momentum.
An MBA from The Wharton School of Finance, Mehta brings with him a rich and varied track record across real estate investment, workspace strategy, and development. He’s held leadership roles at Wework India and Phoenix Workspaces and played a key role in scaling Delta Corp’s hospitality portfolio.
Tribeca Developers founder Kalpesh Mehta said, “I am thrilled to welcome Dharam to Tribeca. His deep expertise in real estate investment and operations aligns perfectly with our expansion into plotted developments and hospitality anchored projects. Dharam’s leadership, strategic mindset, and industry insights will be instrumental in shaping this new vertical and strengthening Tribeca’s position as a leader in innovative real estate solutions.”
On his appointment, Dharam Mehta said, “I am excited to join Tribeca at such a pivotal moment. They have set new benchmarks in luxury real estate, and I look forward to leading its entry into plotted developments. This new vertical presents immense opportunities, and I am eager to leverage my experience to create lasting value and deliver best-in-class real estate offerings.”
As India’s demand for gated plots, weekend villas, and lifestyle-led real estate rises, Tribeca’s Estates vertical is poised to meet it with the same design-first, quality-led approach that built its name. With Mehta now in the driver’s seat, the groundwork for a new kind of real estate play is officially in motion.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
