The company said that the re-appointment is based on the recommendation of Nomination and Remuneration Committee, subject to approval of the shareholders at the ensuing annual general meeting.

Raunika Malhotra is president – marketing and corporate communications of the Lodha group. She has been with the Lodha group for 14 years, including two years as deputy regional chief executive officer. She holds a bachelor's degree in engineering (electronics and telecommunication branch) from the University of Pune and a post-graduate diploma in industrial engineering from the National Institute of Industrial Engineering, Mumbai.

She has more than 18 years of experience in leadership, corporate strategic planning, consumer insights and brand management. Prior to joining the Lodha group, she has worked with ECS and Adayana Learning Solutions in strategic consulting.

Macrotech Developers (Lodha Group) is primarily engaged in the business of real estate development.

The company's net profit jumped 39% to Rs 744.36 crore despite of 5.5% decline in net sales to Rs 3,255.38 crore in Q4 FY23 over Q4 FY22.

Shares of Macrotech Developers rose 0.78% to Rs 578.30 on the BSE.