Mumbai, Feb 2 (IANS): Realty major Godrej Properties Ltd, part of the Godrej Group, announced major top-level changes in its set-up on Thursday with Chairman Adi Burjorji Godrej elevated as 'Chairman Emeritus', an official statement said here.

The company's Managing Director and CEO Pirojsha Adi Godrej will be the new Executive Chairman, while Executive Director Mohit Malhotra has been named the new Managing Director and CEO.

Karan Bolaria, head of Godrej Fund Management, a subsidiary of Godrej Properties Ltd, has been appointed its (Godrej Fund Management's) CEO and will report to Pirojsha A. Godrej.

Pirojsha A. Godrej, who joined Godrej Properties Ltd in 2004, was appointed its MD and CEO in 2012 and during his tenure, the company went on to become one of the fastest-growing real estate developers in India.

The company is currently engaged in developing residential, commercial and township projects across nearly 12 million square metres (around 130 million square feet) in 12 cities nationwide.

All the changes take effect from April 1 this year, the statement added.