MAM
Embassy Developments appoints Aditya Virwani as managing director
Mumbai: Embassy Developments Limited has appointed Aditya Virwani as managing director to spearhead its next phase of growth. Previously serving as chief operating officer at Embassy Group, Virwani played a crucial role in business expansion and strategic planning. Jitendra Virwani remains chairman, while the team includes Sachin Shah as CEO & executive director, and Rajesh Kaimal as CFO & executive director.
The company is set to enhance its residential portfolio with new projects across major cities, bolstered by the recent merger of Equinox India Developments Ltd. (formerly Indiabulls Real Estate Ltd.) and Nam Estates Private Limited. This strategic move has reinforced its position in the real estate sector, alongside efforts to optimise its capital structure through asset acquisitions and financial initiatives.
An alumnus of the University of Virginia, Virwani has been instrumental in shaping Embassy Group’s business strategies and fostering industry partnerships. The company has appointed Vikas Khandelwal as company secretary & group chief compliance officer, Shailendra K Subbaraya as chief operating officer, and Maria Rajesh as chief human resources officer.
With a focus on long-term value creation through strategic planning and governance, Embassy Developments aims to solidify its market presence. As the real estate sector evolves, the company is positioning itself for sustainable growth.
Aditya Virwani currently serves as the managing director of Embassy Developments Limited, a position he assumed in March 2025. Based in Bangalore Urban, Karnataka, India, he handle the company’s strategic growth initiatives. Prior to this role, he was with Embassy Group for over eight years. From September 2018 to March 2025, he served as chief operating officer, overseeing business expansion and operational efficiencies. Before that, he worked as executive assistant to the chairman from September 2016 to September 2018, gaining valuable insights into corporate direction and strategic decision-making. Aditya Virwani holds a degree from the University of San Francisco, where he studied from 2013 to 2016.
Brands
Aditya Birla Fashion & Retail reshuffles top deck; Nikhil Modha to take over as CFO
Phased transition sees Marco Agnolin head OWND!, Nikhil Modha lined up as CFO as company readies next growth leg
MUMBAI: Aditya Birla Fashion & Retail is redrawing its leadership map, lining up a new generation of executives across key roles as it prepares for its next phase of growth.
The company has named Suraj Bahirwani as chief executive (designate) of Pantaloons, effective April 1, 2026, with a full transition to the top role slated for October 1, 2026. He will also be designated as senior managerial personnel.
A two-decade veteran of the Aditya Birla Group, Bahirwani joined as a group management trainee in 2002 and has since held a string of leadership roles across retail and manufacturing. His resume spans stints at Aditya Birla Retail, a tenure as chief operating officer of Pantaloons, and most recently, head of global sales at the group’s cellulosic fibres business, where he drove international expansion and strengthened value-added portfolios.
Academically, he holds a PhD from the University of Mumbai, a postgraduate management diploma from SP Jain Institute of Management and Research, and is a chartered accountant. Over the years, he has picked up multiple chairman’s awards, including distinguished achiever, exceptional contributor and accomplished leader.
The transition at Pantaloons will be staged. Incumbent chief executive Sangeeta Tanwani will continue until September 30, 2026, steering the handover before moving into an advisory role to the managing director from October 1, 2026. She is set to retire on January 31, 2027, at which point she will step down as whole-time director and key managerial personnel.
Alongside, the company has brought in Marco Agnolin as chief executive of OWND! and senior managerial personnel, effective April 6, 2026. Agnolin arrives with over three decades of global experience, having held senior roles at Inditex, where he helped expand Zara in Italy, and later served as chief executive of Bershka and Diesel. His track record spans fast fashion, brand turnarounds and youth-focused retail.
On the finance side, Nikhil Modha has been appointed chief financial officer (designate) and senior managerial personnel from April 1, 2026. He will assume full charge as chief financial officer and key managerial personnel from January 1, 2027.
Current chief financial officer Jagdish Bajaj will oversee a phased transition until December 31, 2026, before retiring and stepping down from his roles.
The reshuffle signals a calibrated succession plan rather than a sudden overhaul, with the company staggering exits and appointments to ensure continuity even as it refreshes leadership across verticals.
As Aditya Birla Fashion & Retail juggles legacy brands and new-age formats, the message is clear: steady hands for the present, sharper ones for the future—and no pause in the push for scale.
