GTPL Hathway appoints Piyush Pankaj as CFO from 1 October

MUMBAI: GTPL Hathway is giving its finance function a new captain, with Piyush Pankaj set to move from strategy and B2B operations into the CFO’s chair as the company enters another phase of investment and expansion.

Pankaj will take over as Chief Financial Officer from 1 October 2026, succeeding Saurav Banerjee, who will retire on 30 September following his superannuation. The company’s board approved the appointment at its meeting on 18 September.

Pankaj has been with GTPL Hathway for around a decade and currently serves as Business Head – B2B (CATV & Broadband) and Chief Strategy Officer. His elevation represents an internal transition, putting an executive with experience across the company’s operations in charge of its finance function.

The change comes at an interesting point for GTPL Hathway’s books. The company reported consolidated total revenue of Rs 1,019.9 crore for Q1 FY27, up 12 per cent year on year. However, consolidated profit after tax fell 78 per cent to Rs 2.3 crore during the quarter, reflecting pressure on profitability even as revenue expanded.

Infrastructure spending remains an important part of the equation, including investments linked to the company’s HITS platform, as GTPL continues to develop its cable television and broadband businesses.

The company has also expanded its digital television footprint through the acquisition of seven ACT Group digital television businesses for Rs 36.23 crore. The transaction adds to the operational and financial integration work facing the company as it expands its distribution network.

For the incoming CFO, the agenda will therefore extend beyond the balance sheet. Working capital, capital expenditure, cost management and integration spending will become key considerations as GTPL balances infrastructure investment with profitability.

The leadership changes are not limited to the finance function. GTPL Hathway has appointed Ashwinkumar Patel as Company Secretary and Compliance Officer with effect from 19 September, succeeding Shweta Sultania.

The board has also appointed Gurjeev Singh Kapoor, CEO of Hathway Cable & Datacom, as an Additional Director with effect from 18 September.

Pankaj’s move comes as GTPL Hathway navigates two contrasting numbers: a double-digit rise in quarterly revenue and a sharp drop in profit. With further investment planned across broadband and digital television, the new CFO will be taking charge at a time when growth and cost control need to stay on the same financial page.