Brotin Banerjee, managing director and chief executive officer of Tata Housing Development Company Ltd, has resigned citing personal reasons.
Banerjee joined Tata Housing as deputy chief executive officer in 2006. He was appointed managing director and CEO in 2008.
“The board of directors has accepted his resignation and is in the process of appointing a new CEO. In the interim, Banerjee will oversee the transition in consultation with Banmali Agrawala, president, infrastructure and defence & aerospace at Tata Sons,” the company said in a statement.
Banerjee began his career with Tata Group at Tata Chemicals. He was deputed to Barista Coffee Company in 2003 when Tata Group acquired a strategic stake in the coffee chain. He completed his masters in international studies from the School of International Studies at Jawaharlal Nehru University in Delhi. He holds a bachelor’s degree from St. Stephen's College in Delhi.
Tata Housing has 70 million sq ft under various stages of planning and execution and an additional 19 million sq ft in the pipeline.
Tata Value Homes is the affordable housing subsidiary of Tata Housing.
In 2016, the UK government-owned development finance institution CDC agreed to invest $25 million (Rs 168 crore) in Tata Value Homes.
In December 2017, Tata Housing raised $23 million (Rs 148 crore) from global real estate investment firm Hines for its wellness homes project in Thane.