In a real estate landscape often dominated by metro-centric narratives, Rajesh Damani has emerged as an exceptional leader with a deep belief in the untapped potential of India’s tier-II cities. As the managing director of Jamshri Realty, a BSE-listed company, he has redefined what responsible real estate development looks like in smaller cities. With a bold, future-oriented vision, Mr Damani has transformed a century-old family legacy into a model of economic revitalisation, turning dormant industrial assets into vibrant, integrated, commercial
ecosystems.

When textile operations at the family’s 111-year-old Jamshri Mills ceased in 2018, Mr Damani saw an opportunity where others may have seen decline. He led a strategic pivot from traditional manufacturing to real estate development, launching Solapur’s first mixed-use commercial campus. His ability to unlock value from legacy assets resulted in over Rs 150 crore worth of industrial-to- commercial transformation, the creation of over 500 high-value jobs in IT and hospitality and the successful onboarding of national brands like the Mahindra Group, Westside, Zudio, Star Bazaar and Mr DIY. Today, Jamshri Realty enjoys diversified revenue streams, spanning retail, corporate leasing, hospitality and food & beverage, making it one of the most resilient business models in the region.

Under Mr Damani’s leadership, Jamshri Realty has also attracted the confidence of leading corporate tenants. His long-term focus on institutional leasing over fragmented retail ensures predictable revenue flows and stability, an approach that sets Jamshri apart in India’s real estate landscape.

Beyond commercial success, Mr Damani’s leadership is defined by a deep-rooted commitment to environmental, social and governance (ESG) principles. His development philosophy is anchored in community upliftment, visible in the group’s sustained investment in local institutions. Initiatives like Damani Vidya Mandir (education), Damani Blood Bank (healthcare) and Gopabai Damani Lions Eye Hospital (specialised care) reflect his holistic approach to value creation. His support for institutions serving differently-abled individuals further reinforces his belief that inclusive growth is not just good ethics, it is a good strategy. This community integration has given Jamshri a powerful social licence to operate, helping reduce regulatory risk and building long-term stakeholders’ goodwill.

With decades of cross-sector experience, Mr Damani has transformed Jamshri Realty into a model for tier-II real estate growth. His leadership in converting legacy industrial assets into mixed- use hubs combines local insight with scalable strategy, positioning Jamshri at the forefront of India’s emerging city development. Mr Damani represents the future of Indian real estate, where legacy meets innovation and long-term community value drives sustained business success.

Sharmila Chand meets up with Mr Damani to get more insights into his personal and professional lives. In the process, she is highly impressed by the realtor’s firm conviction in his management principles and practices.

Your five management mantras

·         Follow the solution that is commercially as well as
socially viable.

·         Great experiences bring good products to life.

·         Business is a marathon that is run, one sprint at a time.

·         Do not let the crowd get to you – neither on the way up nor on the way down.

·         Be Aware.

A game that helps your career
I play tennis as much as I can. It is one of the few sports that can be played by a 5-year-old as well as a 90-year-old. It involves control, power, speed and stamina. Most of all, it involves focus and to be in “the zone”. As with all sport, it teaches us that the battle is never won (or lost!) till the final point is played. As with all sports, it also teaches us how to win and, more importantly, how to lose.

The turning point in your professional life
There have been many, but if I were to pick one, it would be the decision to stop textile manufacturing at Jamshri in November 2018 after 111 unbroken years of production.

Secret of your success
Belief

Your philosophy of work
Stay as transparent as possible. Stay as viable as possible. Stay socially relevant beyond your means.

Any person you admire who has inspired you
J R D Tata and Ratan Tata – They are unmatched and a gold standard for the entire world in terms of their careers, values and ability to create success where failure was a fait accompli.

Best advice you got
My father gave me this advice, which has remained with me for over 40 years now: “Take your time in making a decision, but once you make it, stay committed to it, and make it work.”

Your journey so far and the lessons learnt on the way
I began working in 1987 and have had almost 40 years of experience. It is difficult to encapsulate in words all the lessons learnt along the way. But one lesson that has become increasingly relevant is that once we are sure of something and have really thought it through, it is important to set milestones and timelines and make those our guides rather than what people will comment on the way.

Your favourite books
Autobiography of a Yogi by Paramhansa Yogananda is a brilliant book, telling us what depths and truths are hidden away in our country. Just so fascinating and makes me wonder all the time why we are not returning back to who we truly are.

The Fountainhead by Ayn Rand is a fabulous book which has stayed with me since my college days with a really charismatic and magnetic protagonist, an idealistic architect Howard Roark, whose values of life are centered on existentialism.

Siddhartha by Herman Hesse is the shortest yet hardest-hitting spiritual book I have read.

Your fitness regime
Workouts with a personal trainer thrice a week using weights and resistance training, cardio and the 10,000 steps daily rule

Maintaining calm and peace in stressful situations
Take a deep breath, and plunge into the deep end.

Your message on management to youngsters
Fluidity has replaced solidity. We have to be prepared to transform, pivot and reinvent as we need to.

Chand.sharmila@gmail.com