Blackstone-backed Nexus Select Trust has appointed Siddharth Nawal as Managing Director and CEO designate ahead of his takeover from Dalip Sehgal on January 1, 2027. According to reports from Business Standard, Nawal currently serves as a managing director in Blackstone's India Real Estate team and has been closely associated with the Nexus group, most recently serving as a director on its board since November 2025. The leadership transition was announced on October 12, 2026, and marks a significant milestone for India's first publicly listed retail real estate investment trust (REIT). In his new role, Nawal will lead Nexus through its next phase of growth, building on its portfolio of high-quality urban consumption centres.
Nawal brings over eight years of experience across finance, strategy, and business operations to his new role. As per the latest company announcement, he has been actively involved in asset management across several Blackstone portfolio companies in India since joining Blackstone in 2015, including Nexus Select Trust, Mindspace REIT, Panchshil, Ventive Hospitality, and Kolte Patil. Prior to joining Blackstone, he held finance and strategy roles at PwC, Shell, and Trans Maldivian Airways. Nawal is a Chartered Accountant and CFA Charter holder, and was recognized among the CA Business Leaders 40 Under 40 by CNBC, securing an All India Rank 32 in the Chartered Accountancy Final Examination.
In the June quarter of FY27, Nexus reported strong financial performance with net operating income (NOI) growing 11% year-on-year to ₹510 crore. As reported by Business Standard, the company's earnings before interest, tax, depreciation and amortisation (Ebitda) stood at ₹491 crore, up 10.18% Y-o-Y, while revenue from operations reached ₹681 crore, up about 11% Y-o-Y. On a quarterly basis, Nexus' NOI grew marginally by about 2.28%, Ebitda increased by 7.79%, and revenue by 4.38%. The company's portfolio of urban consumption centres continues to drive consistent growth across key metrics.
Nawal expressed optimism about India's retail opportunities, stating that India presents exciting opportunities for retail and Nexus is well positioned to capture that growth. According to Business Standard, he emphasized his commitment to working with the team, Blackstone and partners to strengthen the portfolio and deliver exceptional experiences for customers. "I have been fortunate to work closely with Nexus over the years and have seen firsthand the strength of its portfolio and the talent of its team," Nawal stated, adding that he looks forward to working with the team to strengthen the portfolio, deliver exceptional experiences for customers and create long-term value for tenants and investors. The company has been building its position as a leading retail platform over the past decade, with Sehgal playing an important role in this development.
Sehgal has played an important role in building the company into a leading retail platform and successfully led its public listing over the past decade. As reported by Business Standard, he expressed confidence that Nexus will continue to grow and succeed under Nawal's leadership. Asheesh Mohta, chairman of Nexus Select Trust, thanked Dalip for his contributions in building Nexus into the business it is today and expressed confidence that Nawal is well positioned to lead the company's next chapter of growth given his deep investment expertise and strong understanding of the Nexus platform. "It has been a privilege to lead Nexus, and I am proud of what we have built together," Sehgal said, adding that he is confident Nexus will continue to grow and succeed under Siddharth's leadership. Under his leadership, the organization established a resilient operating platform, strong governance practices and a disciplined approach to growth.
