Mahindra Lifespace Developers Limited announced that the Board of Directors of the Company has at its Meeting held on 2nd February 2024, basis the recommendation of the Nomination and Remuneration Committee and Audit Committee, considered and approved the following changes in the Key Managerial Personnel viz. Chief Financial Officer of the Company: Resignation of Mr. Vimal Agarwal as the Chief Financial Officer and Key Managerial Personnel of the Company on account of his transition to a new role within the Mahindra Group with effect from close of 30th April 2024; and Appointment of Mr. Avinash Bapat as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from 1st May 2024. Mr. Avinash Bapat is the Chief Financial officer (CFO) at Mahindra Susten Private Limited.

He began his career with Nirma Limited, where he worked in treasury for five years, gaining valuable insights into financial management. He joined the Mahindra Group in 2003 and has since held notable stints as CFO for Mahindra USA and Mahindra South Africa, each for six years. This diverse experience has equipped him with a deep understanding of various sectors and corporate teams within the Mahindra Group, enabling him to provide invaluable leadership.

In terms of his educational background, he holds a PGDBA from ICFAI Institute and is a Cost & Works Accountant. His educational qualifications have played a significant role in his growth as a leader, equipping him with a strong foundation in financial management and accounting. Notably, he was recognized as one of the Top 100 CFOs in 2020 by the CFO Next Institute, highlighting his exceptional achievements and leadership capabilities.