In his new role, Jaiswal will lead the overall business and growth strategy for Reliance MET City, with responsibility for driving industrial, residential and commercial development, attracting new investments and businesses, strengthening the development pipeline and expanding the integrated ecosystem across multiple asset classes. He will also oversee the platform’s strategic partnerships and business expansion initiatives as MET City scales into a major economic and urban destination in the National Capital Region (NCR).

Jaiswal brings over 20 years of experience in real estate, with expertise spanning business strategy, development, revenue growth, sales and marketing, land transactions, fundraising and strategic partnerships. Prior to joining Reliance MET City, he served as CEO of Eldeco Group, where he drove the growth of the multi-city development platform across North India. He has also served as CEO of Tribeca Developers, where he was associated with the development of Trump branded real estate projects.

Commenting on his appointment, Manish Jaiswal, Chief Executive Officer, Reliance MET City, said, “I am happy to join Reliance MET City at an exciting stage of its growth. The scale and ambition of the development, coupled with its strategic location and strong infrastructure, present a significant opportunity to build a globally competitive commercial hub and urban destination. I look forward to working with the team to accelerate growth, attract new investments and enterprises and further strengthen MET City’s position as an important economic hub of India.”

Commenting on the appointment, Shrivallabh Goyal, Whole Time Director, Reliance MET City, said, “Manish brings a strong combination of business leadership, real estate expertise and a proven track record of scaling businesses and driving growth. His experience across development, strategic partnerships, revenue generation and branded real estate makes him well suited to lead Reliance MET City through its next phase of expansion. We are confident that his leadership will further strengthen the platform and accelerate its growth as an integrated destination for industry, investment and urban development.”

Spread across 8,250 acres in Jhajjar, Haryana, Reliance MET City brings together industrial, residential and commercial development within an integrated, master-planned environment. The development has attracted companies across sectors and geographies and includes a dedicated Japanese Industrial Township.

Manish Jaiswal holds a Bachelor of Engineering from Netaji Subhas Institute of Technology (NSIT), Delhi University, and an MBA from the Indian Institute of Management Calcutta.

The Sensex traded 1,504.58 points – or 4.00 per cent – lower at 36,072.04 while the Nifty was down 417.35 points – or 3.80 per cent – at 10,572.10. All the 11 sectoral indices traded sharply lower, with the Nifty Bank – comprising stocks of 12 major lenders in the country – down 4.11 at the time.

Forty six stocks in the Nifty basket of 50 shares struggled against losses at the time. Worst hit in percentage terms were ONGC, Vedanta, Reliance Industries, Zee Entertainment, IndusInd Bank and Tata Steel, down between 5.96 per cent and 10.62 per cent each. On the other hand, Yes Bank and Bharat Petroleum managed gains, up 18.27 per cent and 10.79 per cent respectively.

Analysts who have been tracking coronavirus news over past few weeks say the pandemic is a huge negative in the near term, and further market correction cannot be ruled out for the time being.

US and European market futures pointed to sharp losses. Wall Street E-Mini futures were down 4.6 per cent, while Europe’s EUROSTOXXX 50 and FTSE futures tumbled 4.4 per cent and 4.8 per cent respectively. Crude oil prices nosedived 31.5 per cent to $31.02 a barrel in their biggest percentage slump since the start of the first Gulf War.