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Motilal Oswal Group appoints Sukesh Bhowal as CEO of Motilal Oswal Home Finance Limited

As CEO, he will work closely with Motilal Oswal, Group MD & CEO, MOFSL.

Sukesh Bhowal has a rich experience of over 27 years in Business Management, Sales & Distribution, Retail Lending, Mortgage Lending, Real Estate Lending and Retail Banking. Prior to joining MOHFL, he was associated with DCB Bank, where he headed the Mortgages, Micro-Mortgages, Construction Finance and Gold Loans segments and was responsible for starting and scaling up these businesses. He was also associated with HDB Financial Services, Citibank and HSBC.

As CEO, he will work closely with Motilal Oswal, Group MD & CEO, MOFSL, to further expand and enhance the operations of Motilal Oswal Home Finance.

Further, the company has bolstered the management team with the appointment of Mr Shobhit Doru as Chief Operating Officer (COO), Mr Rajesh Maiya as Chief Business Officer (CBO) and Ms Priyanka Shrivastav as Head- Human Resource Officer over the last two months.

Shobhit Doru has a rich experience of around 25 years in Sales, Product, Strategy and Analytics in Mortgage, SME Lending and LAP product. Previously, he was associated with Bajaj Finserv, where he was Head- Risk of the SME Business vertical. In his previous stints, he was also associated with Bajaj Housing Finance, Standard Chartered Bank and IDBI Bank. Shobhit has done an Accelerated Management Program at the Indian School of Business.

Rajesh Maiya has a rich experience of around 25 years in Sales & Distribution, Channel Management and Customer Service. Prior to joining MOHFL, he was associated with Aavas Financiers, where he was National Sales Manager and was responsible for developing and managing Home loan and LAP business. He was also associated with ICICI Bank in his previous stint. Rajesh has done PGDM from Mangalore University.

Priyanka Shrivastav is a management graduate with over 14 years of experience in Human Resource Development, Learning & Development, Sales & Business Development and Corporate Relationship Management. Previously, she was Head- Corporate HR and Legal and Compliances at HDFC ERGO General Insurance. She was also associated with Bharti AXA Life Insurance, Hero Fincorp, Aditya Birla Capital and ICICI Prudential Life Insurance Company.

Motilal Oswal Home Finance Limited (MOHFL) is India's leading new-age Housing Finance Company, registered with the esteemed Reserve Bank of India (RBI). Operating across 12 states in Western, North-Central, and Southern India, MOHFL has established itself as a key player in the industry. As one of the fastest-growing businesses of the Motilal Oswal Group, MOHFL has reported an impressive profit growth of 44% year-on-year in FY23.

Expressing his enthusiasm, Motilal Oswal, MD & CEO of Motilal Oswal Financial Services, stated, "We are delighted to welcome Sukesh as our new Chief Executive Officer of the Home Finance business. Further, the addition of Shobhit, Rajesh & Priyanka will strengthen our Home finance business. The new team and Sukesh, with their extensive knowledge and proven experience, make an invaluable addition to the Company as we pursue our ambitious goals of further expanding and enhancing our home finance operations. We are eager to leverage the expertise and visionary leadership of Sukesh to unlock exciting new avenues of growth and capitalize on emerging opportunities in the market."

Sukesh Bhowal added, "I am immensely grateful and excited to become a part of the Motilal Oswal Group and to lead its Home Finance business. Leveraging the larger reach and esteemed legacy of the Motilal Oswal Group, a trusted name in the financial services industry, the Home Finance business caters to affordable housing space. We aim to provide best-in-class service to our esteemed customer base. India's thriving housing finance sector presents a significant untapped market for low-cost homes, fuelled by the increasing demand for housing in tandem with the growing population. We are fully committed to fulfilling the housing dreams of our people and contributing to the nation's development."

Under the new leadership, MOHFL will embark on a new journey of sustainable growth.

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