Siddharth Nawal to succeed Dalip Sehgal as Nexus Select Trust CEO from 2027
October 12, 2026
Blackstone-backed Nexus Select Trust has appointed Siddarth Nawal as MD and CEO designate ahead of his takeover from Dalip Sehgal on January 1, 2027, marking a leadership transition
Blackstone-sponsored Nexus Select Trust, India's first retail real estate investment trust (REIT), said on Monday that Siddharth Nawal will succeed Dalip Sehgal as managing director (MD) and chief executive officer (CEO) from January 1, 2027.
Nawal, currently a managing director in Blackstone’s India Real Estate team, has been appointed managing director and chief executive officer designate to initiate the leadership transition. He has also been closely associated with the Nexus group, most recently serving as a director on its board since November 2025.
"India presents exciting opportunities for retail, and Nexus is well positioned to capture that growth. I look forward to working with our team, Blackstone and our partners to strengthen our portfolio, deliver exceptional experiences for our customers and create long-term value for our tenants and investors," Nawal said.
Nexus said Sehgal has played an important role in building the company into a leading retail platform and successfully led its public listing over the past decade.
“It has been a privilege to lead Nexus, and I am proud of what we have built together. Our people have been central to that success. I am confident Nexus will continue to grow and succeed under Siddharth’s leadership. I look forward to working with him and the Board to ensure a smooth transition and wish him every success as he leads Nexus into its next chapter,” Sehgal said.
In the June quarter of FY27, Nexus reported an 11 per cent year-on-year (Y-o-Y) growth in its net operating income (NOI) to ₹510 crore, while its earnings before interest, tax, depreciation and amortisation (Ebitda) stood at ₹491 crore, up 10.18 per cent Y-o-Y. Its revenue from operations reached ₹681 crore, up about 11 per cent Y-o-Y.
On a quarterly basis, Nexus’ NOI grew marginally by about 2.28 per cent. Meanwhile, its Ebitda increased by 7.79 per cent and revenue by 4.38 per cent.
"We thank Dalip for his contributions in helping build Nexus into the business it is today. We are confident that Siddharth, given his deep investment expertise and a strong understanding of the Nexus platform, is well positioned to lead the company's next chapter of growth," Asheesh Mohta, chairman of Nexus Select Trust, said.