Conscient Infrastructure Appoints Rishi Raj as CEO

In a move that signals ambitious expansion in India's bustling real estate sector, Conscient Infrastructure Private Limited (CIPL) has named Rishi Raj as its new Chief Executive Officer.

With a storied 40-year legacy of crafting landmark projects, the company is gearing up to multiply its business fivefold over the next five years, and Raj's appointment is seen as the linchpin in this high-stakes strategy.

Founded on principles of trust, quality, and innovation, Conscient has etched its name in the annals of Indian real estate by delivering over 20,000 housing units and developing a sprawling portfolio of 35 million square feet across Delhi-NCR, Dehradun, and Goa.

But the firm isn't resting on its laurels. Recent milestones, including a strategic tie-up with global giant Hines, the wrap-up of its luxury residential gem Elevate, and a slew of marquee projects in the pipeline, have set the stage for what insiders call a "transformative leap."

Announcing the leadership change, Rajesh Jain, Executive Director at Conscient, didn't mince words about the timing. "Coming on the heels of our strategic relationship with Hines, a global leader in real estate development, the completion of our luxury residential project Elevate, and multiple upcoming marquee projects, Rishi’s appointment comes at the right time to act as the arrowhead of our ambition to grow our business 5 times in the next 5 years," Jain said in a statement that buzzed with optimism.

Jain's confidence in Raj stems from the latter's impressive track record. With over 26 years of experience spanning research, consulting, corporate strategy, business building, and full P&L ownership, Raj brings a multifaceted expertise that's rare in the industry. His most recent stint as Chief Operating Officer at Max Estates stands out as a masterclass in scaling operations. Under his watch, the company's footprint ballooned from a modest 1 million square feet to a whopping 18 million square feet of saleable and leasable area. Market capitalization surged multifold, turning heads in boardrooms across the capital.

But Raj's journey didn't start at the top. Before Max Estates, he steered corporate strategy for the broader Max Group for three years, rubbing shoulders with diverse sectors like insurance (life and health), healthcare, senior living, specialty films manufacturing (BOPP), and, of course, real estate. This cross-pollination of ideas equipped him with a panoramic view of business dynamics – something Conscient hopes will fuel its next phase.

Dig deeper into Raj's resume, and you'll find a 17-year tenure at McKinsey & Company, the gold standard in global management consulting. Starting in research and climbing to leadership roles, he served as the global COO of McKinsey’s Center of Excellence for Strategy and Corporate Finance Practice. Here, he orchestrated transformations in tandem with the firm's senior brass, consulting clients on strategy and shareholder value creation across industries and geographies. Leading large, dispersed teams from the US, Costa Rica, Poland, Netherlands, China, and India, Raj honed his skills in navigating complex global operations. He even donned the hat of senior faculty, conducting capability-building programs for clients and consultants worldwide.

This blend of consulting acumen and operational grit makes Raj "the ideal choice," as Jain put it. "Rishi’s background of distinguished leadership and proven experience in the real-estate sector makes him the ideal choice for this role," he added, underscoring how Raj's hands-on approach at Max Estates – overseeing strategy, growth (both organic and inorganic), construction, sales, marketing, digital initiatives, IT, ESG frameworks, SOPs, regulatory interfaces, investor relations, and P&L – aligns perfectly with Conscient's growth blueprint.

For his part, Raj steps into the role with a sense of reverence and resolve. "It is an honor to join Conscient at such a pivotal time," he said. "The company’s rich heritage, delivery track record, and visionary partnerships set a powerful foundation. My team and I will work tirelessly to strengthen Conscient’s foundations and expand its footprint, while fully demonstrating our motto – ‘Where Value Meets Values.’"

Conscient's motto isn't just corporate jargon; it's woven into the fabric of its operations. Beyond bricks and mortar, the group has left an imprint in education and sports, reflecting a holistic vision that resonates in today's socially conscious market. The company's emphasis on design, customer centricity, and sustainability shines through in recent ventures. Take the partnership with Texmaco, Hines, and HDFC Capital to redevelop the erstwhile Birla Cotton Mills site into a 10-acre residential-led mixed-use haven in Delhi – a project that's already generating buzz for its innovative urban renewal approach.

Then there are the successful launches of Elaira Residences, Parq, and Elevate Reserve, premium offerings in Gurugram's prime pockets. These aren't mere housing blocks; they're lifestyle statements, blending luxury with eco-friendly elements. Looking at the pipeline, Conscient and its partners have over 10 million square feet of developments waiting to break ground, including Elaira Phase 2 and the Birla site, among others.

But the ambition doesn't stop at NCR's borders. Plans are afoot for multifold expansion into existing micro-markets and fresh territories like Noida. The company is also eyeing entry into built-to-lease commercial office spaces, diversifying beyond residential into commercial and mixed-use realms. This strategic pivot comes at a time when India's real estate market is rebounding post-pandemic, with demand surging for sustainable, integrated developments.

Industry watchers see Raj's arrival as a catalyst. "In a sector plagued by delays and trust deficits, Conscient's track record stands out," says a Delhi-based real estate analyst who requested anonymity. "Raj's experience in scaling Max Estates suggests he can inject the same momentum here, especially with Hines' global muscle backing them."

As Raj assumes charge on October 1, Conscient is scripting a narrative of aspiration and innovation. From humble beginnings to a diversified powerhouse, the company's journey mirrors India's own growth story – one of resilience amid challenges like regulatory hurdles and economic fluxes. With Raj at the helm, the focus will likely sharpen on digital transformation, ESG compliance, and customer-centric innovations, areas where he excelled at Max.

Yet, challenges loom. The real estate landscape is fiercely competitive, with players like DLF and Godrej vying for prime land and talent. Conscient's bet on mixed-use projects could pay off handsomely if executed well, but it demands flawless orchestration. Raj's McKinsey-honed strategic lens will be key in navigating these waters.

In the end, Conscient's story is about more than square footage; it's about building communities that endure. As Jain and Raj steer the ship, the company is poised for "enduring impact," as the announcement aptly puts it. For homebuyers, investors, and the industry at large, this leadership shift isn't just news – it's a harbinger of exciting times ahead in India's real estate saga.