The board of directors of Nexus Select Trust (Nexus), which is sponsored by private-equity firm Blackstone and is India’s first publicly listed retail real-estate investment trust (REIT), has announced a planned leadership transition, appointing Siddharth Nawal as managing director and chief executive officer designate.
A retail REIT is one that owns and manages retail properties.
Dalip Sehgal currently serves as the REIT's managing director and chief executive officer. Nawal will succeed Sehgal effective January 1, 2027.
Nawal is currently a managing director in Blackstone’s India real estate team and has been closely involved in the development of Nexus, most recently serving as a director on its board since November 2025.
In his new role, he will lead Nexus through its next phase of growth, building on its portfolio of urban-consumption centres.
Sehgal has played an important role in building Nexus into a leading retail-platform and successfully led its public listing over the past decade, the company said in the statement, adding that under his leadership, the organisation established a resilient operating platform, strong governance practices and a disciplined approach to growth.
“We are confident that Siddharth, given his deep investment expertise and a strong understanding of the Nexus platform, is well positioned to lead the company's next chapter of growth,” said Asheesh Mohta, chairman, Nexus Select Trust.
"India presents exciting opportunities for retail, and Nexus is well positioned to capture that growth,” said Nawal.
Nexus Select Trust owns a portfolio of 19 urban-consumption centres across 15 cities, comprising approximately 10.7 million square feet of Grade A retail real estate.
The trust claims that its assets attract over 136 million annual footfalls and is complemented by hotels and office assets.