DLF CFO Vivek Anand resigns

Realty firm DLF on Monday said its Chief Financial Officer (CFO) Vivek Anand has resigned from the company. He will continue as CFO till February next year.

DLF MD Ashok Kumar Tyagi, who has the overall responsibility for all corporate functions including Finance, will now have oversight of the Group Finance, IT, and secretarial functions in addition to his current responsibilities as Managing Director, the company said in a regulatory filing.

"...After a stint of over 4 years, Vivek Anand, Group Chief Financial Officer, has decided to move on from the company, to pursue other career avenues." Anand has played an important role in strengthening the finance organization, systems and controls over the past 4 years, DLF said.

"His resignation letter dated 11th December 2023 has been accepted by the Audit Committee in its meeting held on 11th December 2023 which placed on record their appreciation for his contributions to the company," DLF said. Anand will continue in his role until 29th February 2024.

Tyagi has had a long stint as the Group CFO and continued to review the function in his role as CEO and Whole-time Director. He brings significant expertise and continuity to this responsibility.

DLF, the country's largest real estate firm in terms of market capitalization, has developed more than 158 real estate projects and an area in excess of 340 million square feet. It has about 215 million square feet of development potential across residential and commercial segment.

The group has an annuity portfolio of over 42 million square feet. Its rental assets are parked into DLF Cyber ​​City Developers Ltd (DCCDL), a joint venture with Singapore sovereign wealth firm GIC.