Mumbai: Ironwood has appointed Balaji Raghavan to spearhead its affordable housing and real estate development initiatives, reinforcing its presence in one of India’s most resilient residential segments.
This announcement follows Ironwood Education Limited’s acquisition of 100% of Trio Infrastructure Private Limited (TIPL) through a share swap, making TIPL a wholly owned subsidiary of Ironwood, as disclosed in its BSE filing dated 26 February 2025. In a recent board meeting on 25 November 2025, the company also approved raising funds through a preferential issue or private placement and appointed Raghavan as Additional Director and Managing Director. The preferential issue is set to include marquee investors such as Capri Global Capital, Darius Pandole, former MD & CEO of JM Financial Private Equity, and Sanjiv Rastogi.
Balaji Raghavan brings over 20 years of experience across mortgage finance, real estate investments, and development. He played a pivotal role in building India’s modern mortgage business at ICICI Bank, managing a ₹60,000 crore home-loan portfolio, and later established a leading real estate investment platform at IIFL, deploying over ₹12,000 crore across 100+ transactions with major developers and global investors. Since 2021, Raghavan has focused on affordable housing development in Mumbai, gaining deep insight into homebuyer needs, credit gaps, and India’s urban housing deficit.
Under his leadership, TIPL is currently developing the first phase of a 2,52,000 sq. ft. residential project in Madhuban Township, Gokhivare, Vasai East, offering 1 BHK and 2 BHK homes. A second phase spanning 1,50,000 sq. ft. is planned for the next financial year. The project is progressing on schedule, supported by strong sales traction, stable financial backing from SBI, and customer collections.
Ironwood is also advancing approvals for two additional affordable housing projects, expected to launch within the next six months, further strengthening its footprint in India’s growing affordable housing sector.
