Shriram Properties names two independent directors to its board

Shriram Properties has named two independent directors to its board, each for a five-year term. The Bengaluru-headquartered developer announced the appointments of Revathy Iyer and Dr R. Seetharaman on 2 November 2026. Both appointments need shareholder approval.

Who the new directors are

Revathy Iyer retired from the Indian Audit and Accounts Service in 2014. She later served as a Central Board Member of the Reserve Bank of India and as Chairperson of the Government Accounting Standards Advisory Board. She is now an independent director and audit committee chair at TVS Holdings Limited and at Bharatiya Reserve Bank Note Mudran Private Limited.

Dr R. Seetharaman has more than four decades of experience in global financial services. He was Chief Executive Officer of Doha Bank from 2007 to 2022. He received the Pravasi Bharatiya Samman, the highest honour the Government of India gives overseas Indians, in 2017. He is an independent director and audit committee chair at L&T Finance Limited.

What the company said, and what it left out

The company describes the change as routine. Its release makes no reference to projects, sales, pricing or RERA matters. Chairman and Managing Director M. Murali said the company was delighted to welcome both directors. He said their experience would strengthen the board's vision, governance framework and collective capabilities, and that their guidance would be valuable as the company pursues growth while keeping high governance standards.

The release does not name the outgoing directors. It says the appointees will succeed independent directors whose two consecutive terms end in November 2026, but it does not give the exact end date. The company's governance page already lists Ms Iyer and Dr Seetharaman as independent directors. The release does not explain this.

The timing also needs care. The company filed an "Outcome of Board Meeting" and an "Appointment" filing on the stock exchange on 22 October 2026. The 2 November release, however, presents the appointments as forthcoming. The release does not say on what date the appointments take effect, or when the shareholder vote will be held.

Where the company stands

Shriram Properties is the real estate arm of the Shriram Group. Its shares have been listed on the NSE and BSE since December 2021. As of 31 December 2025, it had delivered about 50 projects covering 30.8 million sq ft. Its development pipeline at that date comprised 42 projects with an aggregate potential of 36 million sq ft, of which 18 million sq ft was ongoing.

Mr Murali was re-appointed Chairman and Managing Director in August 2024 for the period 1 April 2025 to 31 March 2030. In February 2026, the company announced the outright purchase of about 4 acres on Sarjapur Main Road in South-East Bengaluru. It plans about 5 lakh sq ft of saleable area there, with an estimated gross development value of ₹550–600 crore, and expects to launch the project in the latter part of 2026.

For buyers, the announcement does not change any project, price or delivery schedule. The board change is a governance item to be completed after shareholders vote. The figure to watch is the 36 million sq ft pipeline, which will show whether the company's expansion keeps pace with its delivery record.