OWN THE NUMBERS: WOMEN LEADING IN FINANCIAL STRATEGY

In an industry long dominated by men, women are increasingly taking charge of financial strategy in real estate – owning the numbers, driving investment decisions, and shaping the future of the sector. Chintan Patel, Partner, Deal Advisory, Real Estate & Hospitality| Transport & Logistics, KPMG India noted that more men than women believe that women were better at financial management. Not surprisingly, from CFOs to fund managers and strategic advisors, female professionals influence is growing across banking, NBFCs, development finance, and asset management.”

I’s not uncommon I’s not uncommon for clients to direct for clients to direct responses to male responses to male colleagues even in the colleagues even in the presence of a senior women presence of a senior women professional, reflecting the professional, reflecting the biases women leaders face. biases women leaders face. – Hina Kamra

Hina Kamra, Managing Director, Neo Wealth and Asset Management, added, “Over the last 30 years, I’ve worked across different areas of the financial sector – from banking and NBFCs to real estate financing – each with its own challenges and varying levels of female representation. While progress has been made, particularly since I joined an NBFC in 2010, biases still surface; even today, it’s not uncommon for clients to direct responses to my male colleagues despite my seniority, reflecting the quiet but ongoing hurdles women leaders face.”

Incia Bagasrawala Gupte, Director, Advisory & Transaction Services, CBRE South Asia Pvt. Ltd., shared that coming from a conservative Muslim background, the unwavering support of her progressive family, particularly my mother-in-law, played a pivotal role in enabling her to build a fulfilling career.”

Reshmi Panicker, Executive Director - Land Services and Residential, Knight Frank India, articulated, “I began my career in architecture, later transitioning into land management and real estate. Though land was once a space with very few women, my experience has been defined by professionalism and equal opportunity, and I believe that focusing on competence over labels allows anyone to rise and lead.”

Monica Pirgal, Chief Executive Officer, Bhartiya Converge, added, “Trained as a lawyer and company secretary, I now lead a business at Bhartiya Converge, supporting global companies in establishing and expanding their presence in India across IT and non-IT sectors. Coming from a traditional Marwari background, entering the legal profession – and owning the assertiveness it requires – was a bold move that faced early resistance, but over time, demonstrating competence and intent earned respect, and it’s encouraging to see both corporate mindsets and industry norms evolving.”

My advice to women My advice to women is to ask for help, is to ask for help, don’t try to do don’t try to do everything yourself- everything yourself- rest, recharge, and delegate so rest, recharge, and delegate so you can be more focused and you can be more focused and effective. effective. – Monica Pirgal

Breaking Barriers, Leading & Thriving:
The women leaders share their recipe of work life balance. As per Monica Pirgal work-life balance is not about struggle, but perspective - embracing responsibilities at home and at work without viewing them as opposing forces. “I’ve found balance through acceptance, clarity, and genuine joy in both roles. Longer hours don’t mean better work – what matters is whether the job gets done, regardless of location or time. So instead of forcing ourselves to meet outdated expectations, we should focus on working efficiently and embracing the flexibility modern life offers.” Incia Bagasrawala Gupte added, “Work-life balance, in my view is about knowing your priorities. As someone who’s both ambitious and part of a demanding family ecosystem – with a young daughter, aging parents, and a multi-generational household – I’ve learned that balance doesn’t mean doing everything at once, what’s worked for me is compartmentalizing my personal and professional roles so I can show up mentally as well as physically.”

Reshmi Panicker stated that the key challenge for women often lies not at work, but at home, where responsibilities tend to follow us more than they do our male counterparts; however, with strong family support and a willingness to delegate, it’s absolutely possible to manage both roles effectively.

Hina Kamra said, “It’s also about recognizing how our priorities evolve over different phases of life. In the early years of my career, I pushed myself relentlessly, but over time I learned the value of setting boundaries and making space for myself, not because of external pressure, but to sustain the passion I had for my work without burning out.”

Women & The Finance Gap
It is a known fact that women still hesitate to take charge of their finances despite traditionally managing household budgets, and what needs to change to improve financial literacy, One of the main One of the main barriers to financial barriers to financial independence for independence for women is the cultural women is the cultural tendency to rely on family – tendency to rely on family – particularly male members for particularly male members for major financial decisions. major financial decisions. – Incia Bagasrawala Gupte

Hina Kamra agreed, “Whether it’s women in large business families unaware of what they’re signing or small-scale entrepreneurs lacking financial skills, this gap often leads to missed opportunities and reinforces the perception of gender bias in areas like funding and capital access – issues that still persist and warrant deeper discussion.” Sharing his experience Chintan Patel, said, “I’ve seen many women in senior roles within the financial sector who fully understand money management but choose not to handle their own finances.”

While women may While women may not always lead not always lead negotiations in negotiations in property transactions, property transactions, they play a crucial role in they play a crucial role in financial decisions in choosing financial decisions in choosing the home. the home. – Reshmi Panicker

Incia Bagasrawala Gupte added, “One of the main barriers to financial independence, even among financially literate women, is the cultural tendency to rely on family – particularly male members – for major financial decisions. While this mindset is beginning to shift, the habit of waiting for approval or support persists, limiting women’s autonomy and leaving a vast amount of financial potential unrealized.”

In discussing women’s participation in property buying, Reshmi Panicker said, “When a family comes to buy a home, it’s often clear who the key decision-maker is – it’s the woman who chooses the home, while the man may handle the finances. While women may not always lead negotiations in high-value transactions, they play a crucial role in financial decisions – particularly in choosing the home – even when the payment is handled by their husbands.” Monica Pirgal added, “We often talk about the lack of financial literacy, independence, and decision-making among women – but much of it starts with individual mindset and the willingness to participate, regardless of gender. From my experience as a lawyer and negotiator, I’ve seen that progress comes not just from qualifications but from the willingness to take risks, claim space at the table, and treat decisions – as shared responsibilities, not default roles.”

Shifting the Real Estate Lens
There is no doubt, real estate sector needs to improve mindsets and work conditions to attract and retain more women, given its traditionally low female participation. Reshmi Panicker added, "While representation is growing, there’s still room for improvement – and part of that requires women to persist through life’s challenges rather than stepping back entirely during transitions like marriage, motherhood, or care giving.”

Hina Kamra added, “Female representation in finance differs significantly across areas – while it’s relatively strong in banking, it drops in NBFCs and is even scarcer in fund management and among CFOs in the developer space. To close this gap, organizations must adopt flexible work models, support systems like childcare, and proactive return-to-work initiatives to retain and elevate talented women." On an encouraging note, Incia Bagasrawala Gupte stated, “When I joined the real estate sector 15 years ago, I was the only woman in the room, but the industry has evolved rapidly since then, we’re seeing balanced hiring and growing female representation.”

Chintan Patel added, “While women make up roughly half of the population, their overall participation in the economy remains significantly lower. Companies should continue to support gender diversity through policies that encourage more women to enter and thrive in every sector, including real estate.”

While equal access While equal access to education is now to education is now more common what more common what often holds women often holds women back isn’t opportunity, but the back isn’t opportunity, but the choice not to engage fully in choice not to engage fully in financial decisions. financial decisions. – Chintan Patel

Sharing a long-lasting solution, beyond the professional metrics,Monica Pirgal added, “To create lasting change, there is a need to normalize shared responsibilities at home from an early age, raising both boys and girls with equal expectations.”