Shrikant Joshi

Shrikant Joshi started with Wipro from IIM, Ahmedabad campus and had a long and successful tenure from 1983 to 1996. He was the founding member of Wipro Lighting. He was also a member of Wipro Infotech Council and chaired the Wipro Corporation, Marketing Council.

At Philips (1996- 2000), he was the Internationally Certified Auditor for the Philips Leadership Labs & Philips Quality Award. He conducted world class quality audits in China and Singapore and was also an assessor for Leadership labs.

Under his leadership, Sify (2000-2006) went on to become the largest internet café franchisee operations in the country and its home subscriber base crossed 1,00,000 subscribers. Also, Sify became the first company to launch high quality Net telephony[2] in India with the prime objective of making international calls affordable for users. He teamed up with the Indian Institute of Banking to conduct their professional examination online at Sify iWays.

He worked in Heinz where he successfully launched the Heinz Tomato Ketchup in India.

The real estate journey started with Emaar MGF where he became the CEO in 2008.

Shrikant Joshi joined L&T Realty in the year 2011 as a chief executive and currently serving as CEO and MD of the company.

In his current role, he is responsible for L&T's long-term vision to create a sustainable and strong real estate business.[3] L&T Realty currently develops high end residential developments to integrated townships, commercial and retail spaces across 6 major cities in India. In the commercial space, he led the development of India's first Trans-oriented development spanning across 2.7 million sq. ft. in phase-1 at Seawoods Grand Central, Navi Mumbai. Seawoods Grand Central is the combination of an embedded Transit zone (Train station), commercial space & retail mall under one roof. The retail mall (now Nexus Mall) was sold to Blackstone Group[4] for Rs. 1450 crores (US$226 million) in March 2017.

On May 26, 2017, Shrikant Joshi announced [5] the plan of launching three malls of 1.2 million sq ft in Hyderabad in the next six months.

On August 2, 2017, speaking on the occasion of L&T Realty's agreement[6] with Nirmal Lifestyle Developers to jointly develop a nearly 20-acre land parcel on LBS Marg in Mumbai's north central suburb of Mulund, Mr. Joshi said "With this launch, L&T Realty would be developing close to 15 million sq. ft of residential space within Mumbai alone. The proposed development of over 3 million sq. ft comprising over 2,000 apartments will be developed in phases spanning seven to eight years and has an estimated project revenue of close to Rs 5,000 crore".

On September 8, 2017, Shrikant Joshi confirmed the Global pharmaceutical major Teva's arm Watson Pharma has rented[7] 105,000 sq. ft. of office space (and further looking to rent an additional 28,000 sq. ft. built-up area). With the total take-up of 133,000 sq ft, it is the second biggest office lease deal in the last three years.

On December 25, 2017, citing on lenders looking for developers with strong brand and good track record, Mr. Joshi stated[8] to Business Standard "A number of proposals exploded on us, our deal pipeline with lenders also grown 10 times in the past two-three months". Also emphasised[9] "With RERA coming in, land owners and developers are rethinking their real estate strategies. So, people who have land parcels are looking for a credible partner on the other side”.

Real Estate industry is on a revival[10] in residential sales as recent data of Q3 FY18 accompanied positive sign towards home buyers showing interest. "There has been a revival in residential sales in the Q3 FY17-18. L&T Realty has seen an upswing in the sales across our three projects in Mumbai and Bengaluru. Our recently launched project, Emerald Isle, Phase-II in Powai, has drawn an unprecedented interest, generating around 2,000 walk-ins in 120 days. Also, the sales velocity at our maiden project in Bengaluru is at all-time high. Our total gross sales for Q3 FY17-18 stand 20 per cent higher than the sales of Q3 FY16-17" said Shrikant Joshi to Business Standard.

Three SBDs (Secondary Business Districts) — Kharbao in Bhiwandi, Nilaje in Kalyan and Shedung in Panvel will be developed as per recent Maharashtra government regional plan. These new development will multiply job opportunities in regions around Vasai-Virar, Mira-Bhayander, Thane and Bhiwandi. Mr. Joshi said[11] "Unlike the generation prior, the millennial isn’t keen to spend a few hours of his workday in a commute, urging realty developers to plan markets closer to where the labour force is, Seawoods Grand Central one of the few transit-oriented developments in India."

On July 4, 2018, Mr. Joshi addressed IIM Ahmedabad 2018-19 PGPX batch on "Real Estate Industry: New paradigms and trends"[12]

On December 14, 2019, In April 2019, the company sold 490 apartments out of the 510 it launched in the Seawoods area of Navi Mumbai – a huge success in otherwise sluggish market.

In a recent interview with the Business Standard,[13] Mr.Joshi highlighted that there is a good customer response to the recently launched project at Mulund, Mumbai. He added that apartment sizes are becoming smaller and markets are moving towards more appropriate pricing. “Earlier a two bedroom apartment used to cost Rs 2.25 crore. Today, we are launching it at Rs 1.5 crore (in Mulund),” he said.

Shrikant Joshi was born in Malkapur, Maharashtra and raised in Bhilai, the steel city of Chhattisgarh. He graduated from IIT Delhi in 1981 and then completed PGDBM from IIM, Ahmedabad in 1983. He also attended the Breakthrough Program at the University of Lausanne, Switzerland in 2015. His wife, Jyotsna Joshi, an Architect working for L&T Construction.

2019–Present: Member, Board of Governors, IIM Ranchi

2016–Present: Managing Director, L&T Realty

2012–Present: Board Member, L&T Realty

2012–Present: Director, L&T Seawoods Limited

Shrikant Joshi receiving the 'Real Estate CEO of the Year 2017' award at Grohe Hurun Real Estate Leadership Summit in Mumbai, January 18, 2018

• 'Real Estate CEO of the year 2017'[14] by Grohe Hurun Real Estate Leadership Summit and Excellence Awards
• 'Scroll of Honor' at Realty Plus Excellence Awards 2015