Pramod Bhasin Clarifies; Won’t be Heading DLF’s Rental Business

A report in The Economic Times about Pramod Bhasin, non-executive Vice Chairman, Genpact, taking up the chairmanship of DLF's rental business, could be erroneous.

Bhasin refuted the veracity of the report in a quick communication with media this morning. He said that he had joined the company's board as an independent director a few months ago.

Our take is that his ascension to the post of chairmanship might have been under discussion, but it has not been formalized. Bhasin's clarification might have been offered to that effect.

According to the report, most of DLF's 25 million sq ft of leased assets, which include offices and malls, have been rented to IT and outsourcing entities. Understandably, Bhasin's deep expertise in the BPO industry would be helpful to revive the fortunes of a sagging business real estate sector.