Corporate Governance
Shriram Properties Appoints Revathy Iyer and R. Seetharaman as Independent Directors
Shriram Properties Limited has appointed Revathy Iyer and Dr. R. Seetharaman as additional, non-executive independent directors. The decision was taken at a board meeting on 22 October 2026 and remains subject to shareholder approval. The announcement concerns board composition only and does not involve any project, land deal or financial figure.
| Decision date | 22 October 2026, at a board meeting |
|---|---|
| Appointees | Revathy Iyer and Dr. R. Seetharaman |
| Role | Additional, non-executive independent directors |
| Approval status | Pending shareholder approval as of 24 October 2026 |
| Proposed term for Revathy Iyer | Five years from 22 October 2026, subject to shareholder approval |
| Registered office | Shriram House, No. 31, T Chowdaiah Road, Bengaluru |
| Chairman and Managing Director | M. Murali |
| Independent directors before these appointments | T.S. Vijayan, Anita Kapur, K.G. Krishnamurthy and Prof. R. Vaidyanathan (four, per the company's notice dated 12 August 2026) |
What happened
Shriram Properties Limited announced that its board had appointed Mrs. Revathy Iyer and Dr. R. Seetharaman as additional, non-executive independent directors. The board made the decision at its meeting on 22 October 2026. Under the appointment, both directors are subject to approval by shareholders.
Revathy Iyer's proposed term is five years from 22 October 2026, subject to shareholder approval. No term length has been set out for Dr. Seetharaman's appointment.
The announcement names no chairman, managing director or other board member as speaking on the appointments.
Who the appointees are
Revathy Iyer holds a Master's degree in Chemistry from the University of Delhi. She is a former Central Board member of the Reserve Bank of India and a former Deputy Comptroller and Auditor General (Government Accounts). She has held senior positions in the Indian Audit and Accounts Service since 1980.
Dr. R. Seetharaman was Chief Executive Officer of Doha Bank from 2007 to 2022. He resigned in March 2022 after 15 years as CEO. He is currently an independent director on the board of L&T Finance Limited, according to that company's board page.
About the developer and its board
Shriram Properties is a residential developer focused on mid-market and affordable housing, with its key markets in Bengaluru and Chennai. The company also has operations in Coimbatore, Visakhapatnam and Kolkata, and lists Pune and West Bengal among its markets.
The company's own release, as reproduced by CB Insights, says it has delivered 50 projects with a saleable area of 30.8 million square feet. A Business Standard report gives the figure as 48 projects delivered. The two figures differ.
As of 31 March 2026, the company reported a development pipeline of 41 projects with an aggregate development potential of 35.2 million square feet, including 16.6 million square feet of ongoing projects.
The company's shareholders adopted the audited financial statements for FY26 at the fifth annual general meeting on 26 September 2026. M/s. Abarna & Ananthan were appointed as new statutory auditors.
Recent land and joint venture activity
- 16 February 2026: the company acquired a 4-acre land parcel on Sarjapur Main Road, South-East Bengaluru.
- 15 June 2026: the company signed a Joint Development Agreement for a 9.1-acre land parcel at Doddagubbi, North-East Bengaluru. The project has about 6.7 lakh sq ft and an estimated gross development value of over Rs 600 crore, and is expected to be launched in the current financial year.
- Equity stakes in four joint ventures: the company agreed to pay a total cash consideration of Rs 37 crore to increase its ownership stakes, with completion targeted for 30 September 2026.
These transactions are separate from the board appointments and are not affected by them.
What it means for buyers, investors and the market
The announcement changes the composition of the board only. It does not alter any project, price, delivery schedule or land position, and no impact on home buyers is stated.
For investors, the appointments add two independent directors with banking, central audit and economic experience to a board that, as of the company's 12 August 2026 notice, had four independent directors and one non-executive non-independent director. The board count after 22 October 2026 is not stated in the announcement.
No market reaction to the announcement has been reported.
What comes next
Both appointments need shareholder approval before they take effect. Revathy Iyer's five-year term runs from 22 October 2026 if approved. Any further company filing on the appointments will set out the approval outcome and the final terms.
Frequently asked questions
Who has Shriram Properties appointed to its board?
The board appointed Mrs. Revathy Iyer and Dr. R. Seetharaman as additional, non-executive independent directors at its meeting on 22 October 2026.
Are the appointments final?
Not yet. Both appointments are subject to approval by shareholders.
How long is the term for the new directors?
Revathy Iyer's proposed term is five years from 22 October 2026, subject to shareholder approval. No term length has been set out for Dr. Seetharaman.
Does this announcement involve any new project or land deal?
No. The announcement concerns board composition only and names no project, land parcel, deal value or unit count.
What is Dr. Seetharaman's banking background?
He was Chief Executive Officer of Doha Bank from 2007 to 2022 and resigned in March 2022 after 15 years as CEO. He is currently an independent director at L&T Finance Limited.
Who are the company's current independent directors?
As of the company's notice dated 12 August 2026, the independent directors were T.S. Vijayan, Anita Kapur, K.G. Krishnamurthy and Prof. R. Vaidyanathan.