New Delhi: hBits, the fractional ownership real estate company offering fractional ownership to investors in pre-leased Grade A properties, announced the joining of Ex Nomura MD Samir Bhandari as Chief Financial Officer (CFO). This is in line with the company’s vision to be a leader in Proptech and offer World-Class Financial products to investors through Fractional Ownership. He will be responsible for expansion to newer markets within and outside India.
Samir has been a banker and worked for 33 years in Global Markets across multiple Fortune 500 firms. He started his career in 1989 as a management trainee at Bank of America and worked with the firm in Mumbai and Hong Kong. He has worked in Singapore for the past 26 years, holding senior leadership positions with UBS (Executive Director), JP Morgan (Managing Director) and Nomura (Managing Director). In his last role with Nomura (spanning over 13 years), he was responsible for sales across fixed income and equities in Asia and other countries. He was also a member of Nomura’s Asia and Global Executive Committee.
Samir is a Chartered Accountant with an MBA from IIM, Ahmedabad. His core focus areas have been devising strategies to boost productivity and revenue, building and forecasting business and balancing targets with resources for optimised long-term success.
Commenting on his joining, Shiv Parekh, Founder, hBits, said, “We welcome Samir on board and hope that we will be able to strengthen our positioning in fractional ownership, with more market outreach. Fractional ownership has been growing exponentially in India, and investors are attracted to the opportunities offered for investment in Grade A properties to build a regular income. 70% of our customer base is from MNCs, who understand the opportunities offered by CRE. We are serving more than 30,000 investors on our platform and hope to double the same by the end of this year.”
Samir Bhandari, Chief Financial Officer, hBits, said, “hBits has already disrupted the commercial real estate market in the country. We hope that we will leverage the interest of national and international investors and bring in more assets to build a stronger portfolio for our existing customers. The CRE market will see some action in the coming days, with stock markets giving volatile returns due to global issues.”
