Buildpro appoints Dhananjay Srinivas after founder’s death

Shankara Buildpro Limited appointed Dhananjay Mirlay Srinivas as managing director for five years from November 1, 2026, following founder and managing director Sukumar Srinivas’s death on October 30, 2026. Buildpro said the new managing director had spent six years with the company and independently led its non-steel marketplace business.

Why did Buildpro appoint a new managing director?

Buildpro appointed Dhananjay Mirlay Srinivas after Sukumar Srinivas, its founder and managing director, died on Friday, October 30, 2026. The appointment took effect on November 1, 2026 and carries a five-year term, according to the company’s investor presentation.

Buildpro said Sukumar Srinivas founded the business and built it into a building-materials and home-improvement marketplace, as well as a steel tube and pipe distribution and retail business. In its October 2026 tribute, the company said the institution was built on integrity, customer trust and operating discipline.

The leadership transition was disclosed two calendar days after the founder’s death. Buildpro presented the appointment as leadership continuity, saying its Board, comprising executive and independent directors, and its professional managers remained committed to executing the company’s roadmap.

Who is Dhananjay Mirlay Srinivas at Buildpro?

Dhananjay Mirlay Srinivas had completed six years with Buildpro when he became managing director on November 1, 2026. He joined Shankara Building Products Limited in a senior managerial role on January 1, 2020, and had served on that Board since its inception on October 13, 2023.

Before the managing director appointment, he was most recently a whole-time director. Buildpro said Sukumar Srinivas had prepared him for the role over the previous six years, which is the company’s stated basis for management continuity after the October 30, 2026 death.

His prior responsibilities covered both marketplace areas. Buildpro said he independently led the non-steel marketplace business and played a key role in the steel marketplace alongside C. Ravikumar, executive director; non-steel revenue reached Rs 181 crore in Q2FY27.

Buildpro also identified Mr. Ravikumar, Alex Varghese, chief financial officer, and senior management personnel as support for the new managing director. The presentation did not disclose changes to those roles, a revised strategy, or a separate succession programme beyond the five-year appointment effective November 1, 2026.

What business did Dhananjay Mirlay Srinivas lead before becoming managing director?

Dhananjay Mirlay Srinivas led Buildpro’s non-steel marketplace business, which reported revenue of Rs 181 crore in Q2FY27. That was 17% higher than Rs 155 crore in Q2FY26 and 10% above Rs 165 crore in Q1FY27.

For H1FY27, Buildpro’s non-steel revenue rose 16% to Rs 345 crore from Rs 299 crore in H1FY26. The company said fitting, sanitaryware, electrical and accessories drove Q2FY27 growth, while tiles and plumbing had yet to pick up.

The Q2FY27 comparison shows growth against both the prior quarter and the prior-year quarter. Buildpro described it as the second consecutive quarter of growth after subdued FY25 and FY26, while noting that recovery remained uneven across building-material categories and that lighting and paints grew from a small base.

How was Buildpro performing when the leadership changed?

Buildpro reported consolidated revenue from operations of Rs 2,280 crore in Q2FY27, up 43% from Rs 1,595 crore in Q2FY26 and 21% from Rs 1,890 crore in Q1FY27. The company attributed the increase to volume growth, complemented by realisations and non-steel recovery.

Profit after tax, or PAT, was Rs 46.18 crore in Q2FY27, up 57% from Rs 29.39 crore a year earlier and 29% from Rs 35.78 crore in Q1FY27. Buildpro called this its highest quarterly profit to date, while PAT margin increased 18 basis points year on year to 2.02%.

For H1FY27, revenue increased 32% year on year to Rs 4,170 crore and PAT increased 33% to Rs 81.96 crore. Earnings before interest, tax, depreciation and amortisation, or EBITDA, rose 34% to Rs 139 crore, while EBITDA margin increased 6 basis points to 3.33%; Buildpro labelled these figures consolidated and rounded where necessary.

What operating platform will Buildpro’s management oversee?

Buildpro’s management will oversee 99 operational stores and 35 fulfilment centres, or 134 locations, across more than 5.71 lakh square feet of retail space. The company said its customer ticket sizes range from Rs 500 to Rs 1.50 crore.

The marketplace carries more than 2 lakh stock-keeping units across more than 25 verticals and more than 75 categories, with more than 100 leading brands. Buildpro said it sells through in-person visits, tele-calling and e-commerce to customers ranging from independent home buyers to large institutions.

Steel remains a major part of the platform that Dhananjay Mirlay Srinivas helped manage with Mr. Ravikumar. Buildpro reported a four-year compound annual growth rate, or CAGR, of 38% in core steel-product volume from FY22 to FY26, compared with a 31% four-year revenue CAGR in non-steel products.

The company said its branch network covers metro, tier-1, tier-2 and tier-3 markets, including urban, semi-urban and rural locations. Its stated model combines standardisation with local flexibility across a customer base that includes contractors, dealers, builders and independent home buyers.

Conclusion

Buildpro’s November 1, 2026 appointment of Dhananjay Mirlay Srinivas provides an immediate formal succession after the October 30, 2026 death of founder Sukumar Srinivas. The company’s continuity case rests on his six-year tenure, prior non-steel leadership and involvement in steel, alongside Q2FY27 revenue of Rs 2,280 crore and PAT of Rs 46.18 crore.

The disclosed item to watch next is execution of the roadmap that Buildpro said its Board and management remain committed to delivering during the five-year managing director term. Operating markers include non-steel revenue, up 17% year on year to Rs 181 crore in Q2FY27, and whether tiles and plumbing, which had yet to pick up, begin contributing to category growth.