About Us

Ireo is a leading property developer in India. Since establishing our presence in 2004, we have assembled one of the largest property portfolios in India, with a focus on the Delhi NCR (including Gurgaon), Punjab, Tamil Nadu and Goa regions. Combining the best of Indian and international resources, our team consists of accomplished Indian and expatriate professionals from diverse backgrounds to lead initiatives and to deliver best in class products and services to our customers.

The Ireo portfolio is owned by affiliated investment funds that are backed by global blue chip investors and financial institutions, and these funds have invested approximately $2 billion since 2004.

Operating Team

  • Madhukar Tulsi - President

    Madhukar Tulsi - President

    Madhukar Tulsi has more than 35 years of experience in real estate investment, development and construction at leading firms including ITC Limited, DLF Universal Group and Lalbhai Realty.

    He has led the development of several landmark projects including Capital Court in New Delhi; The Laburnum, a luxury condominium complex in Gurgaon, and Classic Golf Resort (CGR), South Asia’s first signature golf course designed by internationally renowned golfer, Jack Nicklaus.

  • Anupam Nagalia - Chief Operating Officer

    Anupam Nagalia - Chief Operating Officer

    Anupam Nagalia is a Fellow Chartered Accountant (FCA) and Fellow Company Secretary (FCS). He has vast experience in Finance, Accounting and Real Estate Development. Prior to joining Ireo, he held key positions at various organizations. Over the last decade, Anupam worked with the Vatika group as a whole time Director and was actively involved in land acquisitions, project approvals, project development and product launches. He played an important role in the overall growth of the organization.

  • Ramesh Avadhani - Director

    Ramesh Avadhani - Director

    Ramesh Avadhani has around 21 years of experience in a wide spectrum of industries including 14 years of experience in the real estate industry alone.

    As Head of Chennai office at Ascendas India (a Singapore-based provider of business space solutions across Asia) he played an important role in developing the ITPL in Bangalore, acquiring the Vanenburg IT Park in Hyderabad and setting up the Ascendas IT Park Fund for India. Besides this, he was also associated with various group companies of TATAs for over a period of 7 years.

  • Varun Khanna - Chief Executive Officer, Knowledge Corp

    Varun Khanna - Chief Executive Officer, Knowledge Corp

    Varun Khanna has more than two decades of experience in the services sector in India and overseas. He has set up business operations in more than 30 countries.

    As the CEO of DS Construction’s overseas operations in Dubai, he was directly responsible for concluding mega-sized deals in Infrastructure Development in India and large-scale construction projects in the Middle East.

  • Pankaj Dugar - Chief Executive Officer, Hospitality & Delhi

    Pankaj Dugar - Chief Executive Officer, Hospitality & Delhi

    Pankaj Dugar has over 15 years of experience in the hospitality sector focusing on aspects such as identifying and establishing new businesses, sourcing strategic partners, leading venture negotiations and commercial structuring, managing project planning, design and execution of mixed-use and hotel projects. Prior to Ireo, he was based in Singapore with Grove International Partners where he focused on real estate investments in non-Japan Asia and global hospitality investments.

    Pankaj has also worked for Global Hyatt Corporation in the USA, Europe and Asia in several positions, including Vice President of Real Estate and Development in their Chicago headquarters. While at Hyatt, he was responsible for the acquisition and development of hotels and asset management. He was involved in the development of trophy hotels such as the Grand Hyatt (Mumbai) and Park Hyatt (Paris, Milan and Zurich). He also led the launch of Hyatt Place in India.

    Pankaj holds a degree in commerce from St. Xavier's College, Calcutta and an MBA from IMI, New Delhi (in collaboration with IMD, Lausanne).

  • Ramesh Sanka - Chief Executive Officer, Greater Gurgaon

    Ramesh Sanka - Chief Executive Officer, Greater Gurgaon

    Prior to joining Ireo, Ramesh Sanka served as the Managing Director of DLF Rental. He has over 30 years of experience and was associated with DLF for nearly a decade. Apart from spearheading DLF's rental business, he also served as Group CFO at DLF. He has handled versatile work portfolio including Finance, Banking, Treasury, Accounting, Direct Tax Planning, IPO and Investor Relations. Ramesh has also managed Design, Development and Construction, Power Generation, Customer Relations, Finance/Legal/Secretarial Compliances, Infrastructure Development, Safety, etc. for DLF Offices, Malls, DT Cinema, DLF Power and MLCP's.

    His previous experience comprises of working in various capacities in Finance and Strategy roles with Moser Baer, Bharti Mobitel and Alcatel. He is tech savvy and brings to the table his expertise in implementing various ERP solutions.

    Ramesh is a B.Tech from Jawaharlal Nehru Technological University and holds a degree in Masters of Management Studies from Bombay University.

Madhukar Tulsi - President

Madhukar Tulsi - President

Madhukar Tulsi has more than 35 years of experience in real estate investment, development and construction at leading firms including ITC Limited, DLF Universal Group and Lalbhai Realty.

He has led the development of several landmark projects including Capital Court in New Delhi; The Laburnum, a luxury condominium complex in Gurgaon, and Classic Golf Resort (CGR), South Asia’s first signature golf course designed by internationally renowned golfer, Jack Nicklaus.

Madhukar Tulsi - President

Madhukar Tulsi
President

Anupam Nagalia - Chief Operating Officer

Anupam Nagalia - Chief Operating Officer

Anupam Nagalia is a Fellow Chartered Accountant (FCA) and Fellow Company Secretary (FCS). He has vast experience in Finance, Accounting and Real Estate Development. Prior to joining Ireo, he held key positions at various organizations. Over the last decade, Anupam worked with the Vatika group as a whole time Director and was actively involved in land acquisitions, project approvals, project development and product launches. He played an important role in the overall growth of the organization.

Anupam Nagalia - Chief Operating Officer

Anupam Nagalia
Chief Operating Officer

Ramesh Avadhani - Director

Ramesh Avadhani - Director

Ramesh Avadhani has around 21 years of experience in a wide spectrum of industries including 14 years of experience in the real estate industry alone.

As Head of Chennai office at Ascendas India (a Singapore-based provider of business space solutions across Asia) he played an important role in developing the ITPL in Bangalore, acquiring the Vanenburg IT Park in Hyderabad and setting up the Ascendas IT Park Fund for India. Besides this, he was also associated with various group companies of TATAs for over a period of 7 years.

Ramesh Avadhani - Director

Ramesh Avadhani
Director

Varun Khanna - Chief Executive Officer, Knowledge Corp

Varun Khanna - Chief Executive Officer, Knowledge Corp

Varun Khanna has more than two decades of experience in the services sector in India and overseas. He has set up business operations in more than 30 countries.

As the CEO of DS Construction’s overseas operations in Dubai, he was directly responsible for concluding mega-sized deals in Infrastructure Development in India and large-scale construction projects in the Middle East.

Varun Khanna - Chief Executive Officer, Knowledge Corp

Varun Khanna
Chief Executive Officer, Knowledge Corp

Pankaj Dugar - Chief Executive Officer, Hospitality & Delhi

Pankaj Dugar - Chief Executive Officer, Hospitality & Delhi

Pankaj Dugar has over 15 years of experience in the hospitality sector focusing on aspects such as identifying and establishing new businesses, sourcing strategic partners, leading venture negotiations and commercial structuring, managing project planning, design and execution of mixed-use and hotel projects. Prior to Ireo, he was based in Singapore with Grove International Partners where he focused on real estate investments in non-Japan Asia and global hospitality investments.

Pankaj has also worked for Global Hyatt Corporation in the USA, Europe and Asia in several positions, including Vice President of Real Estate and Development in their Chicago headquarters. While at Hyatt, he was responsible for the acquisition and development of hotels and asset management. He was involved in the development of trophy hotels such as the Grand Hyatt (Mumbai) and Park Hyatt (Paris, Milan and Zurich). He also led the launch of Hyatt Place in India.

Pankaj holds a degree in commerce from St. Xavier's College, Calcutta and an MBA from IMI, New Delhi (in collaboration with IMD, Lausanne).

Pankaj Dugar - Chief Executive Officer, Hospitality & Delhi

Pankaj Dugar
Chief Executive Officer, Hospitality & Delhi

Ramesh Sanka - Chief Executive Officer, Greater Gurgaon

Ramesh Sanka - Chief Executive Officer, Greater Gurgaon

Prior to joining Ireo, Ramesh Sanka served as the Managing Director of DLF Rental. He has over 30 years of experience and was associated with DLF for nearly a decade. Apart from spearheading DLF's rental business, he also served as Group CFO at DLF. He has handled versatile work portfolio including Finance, Banking, Treasury, Accounting, Direct Tax Planning, IPO and Investor Relations. Ramesh has also managed Design, Development and Construction, Power Generation, Customer Relations, Finance/Legal/Secretarial Compliances, Infrastructure Development, Safety, etc. for DLF Offices, Malls, DT Cinema, DLF Power and MLCP's.

His previous experience comprises of working in various capacities in Finance and Strategy roles with Moser Baer, Bharti Mobitel and Alcatel. He is tech savvy and brings to the table his expertise in implementing various ERP solutions.

Ramesh is a B.Tech from Jawaharlal Nehru Technological University and holds a degree in Masters of Management Studies from Bombay University.

Ramesh Sanka - Chief Executive Officer, Greater Gurgaon

Ramesh Sanka
Chief Executive Officer, Greater Gurgaon

Fund Management Team

  • Anurag Bhargava - Chairman

    Anurag Bhargava - Chairman

    Anurag Bhargava was previously Head of Private Equity for MSD Capital, the private investment firm for Michael Dell, where he managed a successful portfolio of private equity investments. He is the co-founder of India Equity Partners and El Dorado Holdings, and has also served on the board of the State Bank of Mauritius. He is also a member of the Board of Directors of the US-India Business Council (USIBC) and The Magic Bus.

    Anurag completed the dual-degree Management and Technology Program at the University of Pennsylvania, where he received a B.A. from the Wharton School of Business and a B.S. from the Moore School of Engineering.

  • Lalit Goyal - Vice Chairman & MD

    Lalit Goyal - Vice Chairman & MD

    Lalit Goyal is a successful business entrepreneur with a foresight that enables him to identify intrinsic potential in business opportunities and allows him to transform them into commercial success. His business acumen and insight of the Indian economy has helped him transform various ventures in the last two decades.

    An Electronics and Communications Engineer from Delhi College of Engineering, Lalit has ventured in diverse industries ranging from international trade to flooring, organized retail, food ingredients and IT education. Some of the organizations where he played a catalytic role are Wimco Exports, a subsidiary of Wimco Limited; Gateway Information Technology, an alliance of NIIT; Total Care, a JV with Bodiam International, Australia and Pergo India, a JV with Pergo AB of Sweden.

    Lalit’s zeal and passion has helped in setting up several multinational ventures including the current foray in Real Estate and Infrastructure.

  • Louis Klein - Founding Partner

    Louis Klein - Founding Partner

    Louis Klein is a Founding Partner of Ireo with a leading role in making and managing investments as well as other aspects of fund management for Ireo for more than 11 years.

    Prior to Ireo, Louis was with Colony Capital, where he participated in the consideration, acquisition and management of private equity investments in real estate encompassing residential, commercial, gaming, hospitality, agriculture and telecommunications related properties in the US, Europe and Asia. Investments included development properties, distressed assets and portfolios, and operating businesses with a strategic dependence on real estate. Louis began his career with Secured Capital, where he did merchant banking and advisory work focused on the real estate sector including whole mortgage loan portfolio trades, debt and equity placements, property and portfolio sales, and principal investments in distressed and dislocated assets.

    Louis is a graduate of the Wharton School of the University of Pennsylvania and a member of the Urban Land Institute.

Anurag Bhargava - Chairman

Anurag Bhargava - Chairman

Anurag Bhargava was previously Head of Private Equity for MSD Capital, the private investment firm for Michael Dell, where he managed a successful portfolio of private equity investments. He is the co-founder of India Equity Partners and El Dorado Holdings, and has also served on the board of the State Bank of Mauritius. He is also a member of the Board of Directors of the US-India Business Council (USIBC) and The Magic Bus.

Anurag completed the dual-degree Management and Technology Program at the University of Pennsylvania, where he received a B.A. from the Wharton School of Business and a B.S. from the Moore School of Engineering.

Anurag Bhargava - Chairman

Anurag Bhargava
Chairman

Lalit Goyal - Vice Chairman & MD

Lalit Goyal - Vice Chairman & MD

Lalit Goyal is a successful business entrepreneur with a foresight that enables him to identify intrinsic potential in business opportunities and allows him to transform them into commercial success. His business acumen and insight of the Indian economy has helped him transform various ventures in the last two decades.

An Electronics and Communications Engineer from Delhi College of Engineering, Lalit has ventured in diverse industries ranging from international trade to flooring, organized retail, food ingredients and IT education. Some of the organizations where he played a catalytic role are Wimco Exports, a subsidiary of Wimco Limited; Gateway Information Technology, an alliance of NIIT; Total Care, a JV with Bodiam International, Australia and Pergo India, a JV with Pergo AB of Sweden.

Lalit’s zeal and passion has helped in setting up several multinational ventures including the current foray in Real Estate and Infrastructure.

Lalit Goyal - Vice Chairman & MD

Lalit Goyal
Vice Chairman & MD

Louis Klein - Founding Partner

Louis Klein - Founding Partner

Louis Klein is a Founding Partner of Ireo with a leading role in making and managing investments as well as other aspects of fund management for Ireo for more than 11 years.

Prior to Ireo, Louis was with Colony Capital, where he participated in the consideration, acquisition and management of private equity investments in real estate encompassing residential, commercial, gaming, hospitality, agriculture and telecommunications related properties in the US, Europe and Asia. Investments included development properties, distressed assets and portfolios, and operating businesses with a strategic dependence on real estate. Louis began his career with Secured Capital, where he did merchant banking and advisory work focused on the real estate sector including whole mortgage loan portfolio trades, debt and equity placements, property and portfolio sales, and principal investments in distressed and dislocated assets.

Louis is a graduate of the Wharton School of the University of Pennsylvania and a member of the Urban Land Institute.

Louis Klein - Founding Partner

Louis Klein
Founding Partner

  • Michel Zaleski

    Michel Zaleski

    Michel Zaleski is the current Chairman of Soros Economic Development Fund. He is a retired Chairman of the Board of the investment firm Zaleski, Sherwood & Co., Inc., which during his leadership acquired over thirty mid-sized American companies, reorganized them, helped them grow and ultimately sold them; yielding an IRR of 48% to investors.

    Over the last 30 years, he has served on the Board of Directors of 16 companies including six publicly traded companies. He is also the Founder and President of the Dominican Republic Education and Mentoring Project ("The DREAM Project"), a US foundation that is engaged in educating more than 4,000 indigent children in the Dominican Republic. Michel is a graduate of Dartmouth College and holds a Master’s degree from MIT.

  • Prasoon Joshi

    Prasoon Joshi

    Prasoon Joshi straddles myriad worlds. One, in his roles as Chairman & CEO McCann Worldgroup India and Executive Creative Director of the Asia Pacific. Add to which his avatar in the world of literature and music, as an acclaimed writer and poet. The overlap of these creative fields gives Prasoon’s work a distinct edge. Unique brand and content creation that transcends boundaries and becomes part of popular culture is his forte. His poetry at seminal socio-political events in the country has a tremendous mass connect and especially resonates with the youth.

    Exploiting the inherent ‘chaos’ of the Indian way of life, he is known for his authenticity and his work has been highly respected. He has judged prestigious award shows like The One show, D&AD, Andy’s Clio and many others. He has served as Jury Chairman at Cannes, Dubai lynx and Adfest and been on the Cannes Titanium and Integrated jury. His distinguished contribution to the field of Poetry, Cinema and Communication has won him the highly respectable Padma Shri award from the Government of India. Moreover, in recognition of his work in socially relevant cinema and communication, he has been conferred the acclaimed ‘National Award' by the President of India. His work in mainstream popular Indian films has won him the Filmfare twice over and all the major Film Industry awards. The World Economic Forum has also designated him as the Young Global Leader. Prasoon has been part of Indian Prime Minister's Board of Advisors (Communication).

    Wielding his intellect and pen across mediums and creating unique content for reputed brands, a critical Malnutrition campaign for the Government of India, three published books or writing Poetry that resonates with the youth, Prasoon is deliciously poised to leverage creativity across form.

  • Shardul Shroff

    Shardul Shroff

    Shardul Shroff is the Executive Chairman at Shardul Amarchand Mangaldas & Co; one of the leading law firms in India. He has over 30 years of legal advisory experience and is a leading authority on banking, finance and M&A, and a senior attorney and advocate-on-record of the Supreme Court of India. Shardul was recently awarded for 'Outstanding Contribution to the Field of Law' by Chambers & Partners 2012.

    Shardul is a board member at several publicly listed companies including Infrastructure Development Finance Company Limited, Apollo Tyres Limited, Hindustan Media Ventures Limited, Jubilant Life Sciences Limited, Jindal Steel Power Limited, Visa Power Limited, and Ashok Leyland Limited. He has also been a member of a number of Government nominated committees including the Justice V.U. Eradi Committee for Reforms in Corporate Insolvency, Naresh Chandra Committee and the JJ Irani Committee for amending the Companies Act (2006) and two SEBI appointed Bhagwati Committees for redrafting and modifications to the SEBI Takeover Code.

  • Subodh Bhargava

    Subodh Bhargava

    Subodh Bhargava is a Mechanical Engineer from University of Roorkee and retired as Group Chairman and CEO of Eicher Group. He is former President of Confederation of Indian Industry (CII) and the Association of Indian Automobile Manufacturers as well as former Vice-President of Tractor Manufacturing Association. He sits on the board of Governors of prestigious academic institutions including IIT Roorkee, IIFT, IIM Indore, IIM Lucknow and EDI Ahmedabad.

    Subodh is the Chairman of Tata Communications Limited, Independent Director at Tata Motors Limited, Independent Non-Executive Director at Tata Steel Limited and GlaxoSmithKline Consumer Healthcare Limited as well as Non-Executive Director at Larsen & Toubro Ltd. He was recognized as the "Best Independent Director 2011" by Asian Center for Corporate Governance and Association chaired by Mervyn King.

Michel Zaleski

Michel Zaleski

Michel Zaleski is the current Chairman of Soros Economic Development Fund. He is a retired Chairman of the Board of the investment firm Zaleski, Sherwood & Co., Inc., which during his leadership acquired over thirty mid-sized American companies, reorganized them, helped them grow and ultimately sold them; yielding an IRR of 48% to investors.

Over the last 30 years, he has served on the Board of Directors of 16 companies including six publicly traded companies. He is also the Founder and President of the Dominican Republic Education and Mentoring Project ("The DREAM Project"), a US foundation that is engaged in educating more than 4,000 indigent children in the Dominican Republic. Michel is a graduate of Dartmouth College and holds a Master’s degree from MIT.

Michel Zaleski

Michel Zaleski

Prasoon Joshi

Prasoon Joshi

Prasoon Joshi straddles myriad worlds. One, in his roles as Chairman & CEO McCann Worldgroup India and Executive Creative Director of the Asia Pacific. Add to which his avatar in the world of literature and music, as an acclaimed writer and poet. The overlap of these creative fields gives Prasoon’s work a distinct edge. Unique brand and content creation that transcends boundaries and becomes part of popular culture is his forte. His poetry at seminal socio-political events in the country has a tremendous mass connect and especially resonates with the youth.

Exploiting the inherent ‘chaos’ of the Indian way of life, he is known for his authenticity and his work has been highly respected. He has judged prestigious award shows like The One show, D&AD, Andy’s Clio and many others. He has served as Jury Chairman at Cannes, Dubai lynx and Adfest and been on the Cannes Titanium and Integrated jury. His distinguished contribution to the field of Poetry, Cinema and Communication has won him the highly respectable Padma Shri award from the Government of India. Moreover, in recognition of his work in socially relevant cinema and communication, he has been conferred the acclaimed ‘National Award' by the President of India. His work in mainstream popular Indian films has won him the Filmfare twice over and all the major Film Industry awards. The World Economic Forum has also designated him as the Young Global Leader. Prasoon has been part of Indian Prime Minister's Board of Advisors (Communication).

Wielding his intellect and pen across mediums and creating unique content for reputed brands, a critical Malnutrition campaign for the Government of India, three published books or writing Poetry that resonates with the youth, Prasoon is deliciously poised to leverage creativity across form.

Prasoon Joshi

Prasoon Joshi

Shardul Shroff

Shardul Shroff

Shardul Shroff is the Executive Chairman at Shardul Amarchand Mangaldas & Co; one of the leading law firms in India. He has over 30 years of legal advisory experience and is a leading authority on banking, finance and M&A, and a senior attorney and advocate-on-record of the Supreme Court of India. Shardul was recently awarded for 'Outstanding Contribution to the Field of Law' by Chambers & Partners 2012.

Shardul is a board member at several publicly listed companies including Infrastructure Development Finance Company Limited, Apollo Tyres Limited, Hindustan Media Ventures Limited, Jubilant Life Sciences Limited, Jindal Steel Power Limited, Visa Power Limited, and Ashok Leyland Limited. He has also been a member of a number of Government nominated committees including the Justice V.U. Eradi Committee for Reforms in Corporate Insolvency, Naresh Chandra Committee and the JJ Irani Committee for amending the Companies Act (2006) and two SEBI appointed Bhagwati Committees for redrafting and modifications to the SEBI Takeover Code.

Shardul Shroff

Shardul Shroff

Subodh Bhargava

Subodh Bhargava

Subodh Bhargava is a Mechanical Engineer from University of Roorkee and retired as Group Chairman and CEO of Eicher Group. He is former President of Confederation of Indian Industry (CII) and the Association of Indian Automobile Manufacturers as well as former Vice-President of Tractor Manufacturing Association. He sits on the board of Governors of prestigious academic institutions including IIT Roorkee, IIFT, IIM Indore, IIM Lucknow and EDI Ahmedabad.

Subodh is the Chairman of Tata Communications Limited, Independent Director at Tata Motors Limited, Independent Non-Executive Director at Tata Steel Limited and GlaxoSmithKline Consumer Healthcare Limited as well as Non-Executive Director at Larsen & Toubro Ltd. He was recognized as the "Best Independent Director 2011" by Asian Center for Corporate Governance and Association chaired by Mervyn King.

Subodh Bhargava

Subodh Bhargava