Nexus Select Trust, India’s first publicly listed retail real estate investment trust (REIT), has appointed Siddharth Nawal as Managing Director and Chief Executive Officer Designate. Nawal will succeed Dalip Charanjit Sehgal as Managing Director and Chief Executive Officer from January 1, 2027, following a planned leadership transition announced by the board on Monday.
Siddharth Nawal currently serves as a Managing Director in Blackstone’s India Real Estate team and has been closely involved in the development of Nexus Select Trust since its inception. He joined the board of the trust in November 2025 and played a key role in its listing in May 2023.
A Chartered Accountant and CFA charterholder, Nawal joined Blackstone in 2015 and has worked on direct asset investments across retail, commercial, hospitality and residential real estate in India. He was recognised in the Institute of Chartered Accountants of India’s 40 Under 40 Awards in 2024 for his contributions to finance and real estate.
As Managing Director and Chief Executive Officer, Nawal will lead the trust through its next phase of growth, building on its portfolio of retail assets and urban consumption centres. His appointment comes as Nexus Select Trust seeks to expand its retail platform and capitalise on growth opportunities in India's consumption and organised retail markets.
Leadership Transition After a Decade of Growth
Dalip Sehgal has played a significant role in building Nexus Select Trust into a leading retail real estate platform. During his tenure, the trust established its operating platform, strengthened its governance practices and pursued a disciplined growth strategy. He also led the organisation through its public listing, making it India's first publicly listed retail-focused REIT.
Asheesh Mohta, Chairman of Nexus Select Trust, said the board was confident that Nawal's investment expertise and understanding of the platform would position him well to lead the business through its next phase of growth.
Mohta thanked Sehgal for his contribution to building the trust and said the leadership transition would focus on strengthening the business and creating long-term value for investors.
Commenting on his appointment, Siddharth Nawal said he had worked closely with Nexus over the years and had witnessed the strength of its portfolio and management team. He highlighted India's retail growth prospects and said the trust was well positioned to benefit from emerging opportunities.
Nawal added that he would work with the Nexus team, Blackstone and its partners to strengthen the portfolio, improve customer experiences and create long-term value for tenants and investors.
Dalip Sehgal said leading Nexus had been a privilege and credited the organisation's people for its achievements. He expressed confidence in the trust's future under Nawal's leadership and said he would work with the incoming chief executive and the board to ensure a smooth transition.
The leadership change marks a new phase for Nexus Select Trust as it looks to build on the retail platform established under Sehgal and pursue further growth under Nawal's leadership.
