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PropertyPistol names Sachin Malhotra partner and CEO for UAE
Former Damac and Aldar executive to drive cross-border growth
NATIONAL: PropertyPistol has appointed Sachin Malhotra as partner and chief executive for its UAE business, as the Indian real estate advisory steps up its international expansion.
The appointment, announced on 10 February, strengthens the company’s senior leadership as it looks to deepen its footprint in the UAE and build cross-border investment capabilities.
Malhotra brings more than two decades of leadership experience across real estate, banking and financial services, with a focus on international markets. He has previously held senior roles at Damac Properties and Aldar Properties PJSC, where he led UAE and global business development initiatives and executed high-value transactions across multiple geographies.
In his new role, Malhotra will oversee PropertyPistol’s UAE strategy, strengthen developer partnerships, expand cross-border investment platforms and build a scalable regional organisation aligned with the company’s global ambitions.
Commenting on the appointment, PropertyPistol founder and managing director Ashish Narain Agarwal, said Malhotra’s deep understanding of the UAE real estate ecosystem and his execution experience would support the company’s international roadmap.
Malhotra said PropertyPistol’s technology-led, data-driven advisory model had built strong credibility in the market. He said his focus would be on scaling the UAE business, strengthening stakeholder partnerships and building an organisation grounded in transparency, governance and long-term value creation.
Founded in 2012 and headquartered in Navi Mumbai, PropertyPistol operates a full-stack real estate services platform connecting builders, buyers and brokers, with zero brokerage for buyers. The company has more than 30 offices across India and the UAE, including Dubai, Abu Dhabi and Sharjah, and has sold over 32,000 homes worth $4 billion in transactions to date.
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YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
