Indian Reits Association appoints KRT CEO Shirish Godbole as chairperson

Knowledge Realty Trust CEO succeeds Brookfield India REIT's Alok Aggarwal, who stepped down following his retirement

The Indian Reits Association (IRA) has appointed Shirish Godbole, chief executive officer (CEO) of Knowledge Realty Trust (KRT), as its chairperson with immediate effect. He succeeds Alok Aggarwal, who stepped down following his retirement as managing director and CEO of Brookfield India Real Estate Trust.

 

Founded in 2023 under the guidance of the Securities and Exchange Board of India (Sebi) and the Ministry of Finance, IRA is a non-profit industry body established to promote the growth and development of India's real estate investment trust (Reit) sector.

 

Its members include Brookfield India Real Estate Trust, Embassy Office Parks Reit, Mindspace Business Parks Reit, Nexus Select Trust, Knowledge Realty Trust and Bagmane Prime Office Reit.

   

In a statement issued on Wednesday, the association thanked Aggarwal for his leadership and contribution during the formative years of India's listed Reit industry.

 

"Under his stewardship, the Association played a key role in strengthening investor education, fostering industry engagement, and supporting the growth of the country's listed Reit ecosystem," IRA said.

 

Commenting on his appointment, Godbole said, "I am honoured to assume the role of Chairperson of the Indian Reits Association at a defining moment for the sector. In just a few years, Reits have established themselves as a credible and transparent investment avenue, and the opportunity ahead is even more exciting. As India's commercial real estate market continues to mature, Reits have the potential to become a mainstream investment product for both domestic and global investors."

 

He added that he looked forward to working closely with members, regulators and other stakeholders to strengthen the Reit ecosystem, enhance investor awareness, uphold high standards of governance and transparency, and support the sector's next phase of growth.

 

Knowledge Realty Trust, led by Godbole, is backed by Bengaluru-based real estate developer Sattva Group and global investment manager Blackstone. It is India's largest listed Reit by market capitalisation.

 

Godbole has held senior leadership roles at AEW Capital Management in Boston, Morgan Stanley in New York, Morgan Stanley India Financial Services, and Goldman Sachs (India) Securities, where he served as managing director in the merchant banking division.