By Ms. Aditi Jhunjhunwala, Head of Operations, Banke International Properties
India’s skyline is changing faster than ever. Unfortunately, leadership within real estate boardrooms is not changing as quickly. As India’s real estate sector grows in scale, sophistication and economic significance, it continues to reflect an older reality when it comes to its women leaders. Today nearly 48.5 per cent of India’s population and around 10 per cent of the construction workforce, is made up of women. Yet, as per the recent the JLL–NAREDCO MAHI report, they occupy only 1–2 per cent of the top positions in the country’s real estate sector, a disconnect further highlighted by Deloitte’s research on board diversity.
But as things stand, this leadership imbalance is no longer simply a diversity concern. As Indian real estate aims to become a US$1 trillion market by 2030, it is now a business imperative. It is also the reason why industry bodies including NAREDCO and CREDAI have increasingly initiated conversations that will help attract and retain more women professionals across the sector.
Over the years, I have often found myself being one of the few women participating in leadership discussions. What has consistently surprised me is that the shortage has never been one of capable women, but of opportunities for them to progress into decision-making roles. That experience fundamentally changed my perspective on what the real estate industry must do to build a stronger leadership.
The real estate sector in India contributes around 7 per cent to the country’s GDP today and this is expected to account for nearly 13 per cent by 2030. Projected to reach a market size of US$1 trillion, Indian real estate will be among fastest-growing sectors in the next few years. Yet, our present leadership teams continue to reflect an older industry structure rather than the future it seeks to build.
For decades, Indian real estate has been driven by relationship-led business models led by traditionally male leadership networks. While women now play significant roles across architecture, engineering, finance, legal advisory, marketing, sustainability and project management, only a relatively few have progressed into senior decision-making positions. This is particularly striking when compared with global markets. Women occupy double-digit leadership positions across the US, Europe and Asia-Pacific, while India’s real estate sector remains a clear outlier. Globally, women leaders account for around 14.5 per cent of C-suite positions in real estate, underlining the scale of leadership gap that India needs to fill.
Modern real estate extends far beyond construction and land acquisition. Technology, AI-enabled planning, PropTech, digital transformation, ESG compliance, smart city development, sustainability, customer experience and flexible workplaces are now the drivers of long-term value creation. Success increasingly depends on collaboration across multiple disciplines, making diversity of thought one of the sector’s strongest competitive advantages. McKinsey’s research has consistently demonstrated that organisations with more diverse leadership teams outperform their peers, reinforcing that inclusion is a business advantage. Women leaders offer perspectives that are particularly valuable for the real estate sector looking to embrace AI, digital innovation and ESG-led development. Their diverse leadership style can help shape smarter, more sustainable and customer-centric urban environments while leading to more balanced business decisions.
Across the wider built-environment ecosystem that includes construction, infrastructure and PropTech, women are increasingly leading innovation, customer engagement and digital transformation. Sanya Runwal at Runwal Realty, Shraddha Goradia at Dosti Realty, Anushka Singh at DLF, and Pavitra and Nirupa Shankar at Brigade Group are examples of leaders successfully leading strategy, marketing, business development and organisational transformation. Similarly, Godrej Properties, Embassy Group and Lodha Group have all initiated visible steps towards strengthening the pipeline of women professionals and leaders. These industry actions are a demonstration of meaningful change being possible through sustained institutional commitment.
This conversation on why we need more women leaders has only become more relevant through the lens of today’s customer. Women are no longer only influencing household purchasing decisions, but are increasingly first-time, independent and single homebuyers, entrepreneurs, investors and NRI buyers. Their priorities often extend beyond square footage to include safety, accessibility, community infrastructure, sustainability, digital convenience and quality of life. Leadership teams that better reflect this evolving customer profile are naturally better positioned to anticipate changing market demand and deliver products that respond to it.
However, women’s representation alone will not close the gap. One of the greatest barriers is not capability but continuity. Many talented women leave the profession during critical career stages because workplaces are still adapting to the realities of maternity, childcare and caregiving responsibilities. While statutory maternity benefits exist, long-term career progression requires flexible work arrangements where feasible, structured return-to-work pathways, childcare support, mentoring, leadership sponsorship programmes and equitable performance evaluations. Equally important is encouraging shared parental responsibilities through progressive paternity policies and ensuring career breaks do not become permanent leadership barriers.
Disparities in pay further compounds the challenge. As studies by Primus Partners and the WTC India Services Council indicate, women in technical roles within real estate often earn 30–40 per cent less than their male counterparts. Likewise, women in leadership positions earn approximately 15 per cent less. Therefore, closing the leadership gap therefore also requires addressing compensation equity alongside career progression.
Thus, building a stronger leadership pipeline demands coordinated action beyond individual organisations. Organisations like CREDAI and NAREDCO can play a larger role by publishing annual diversity benchmarks, recognising organisations demonstrating measurable progress and establishing leadership sponsorship forums through which senior women executives’ mentor emerging professionals. Government and educational institutions can complement these efforts through scholarships, structured internships, skill-development programmes and stronger industry-academia partnerships encouraging more women to enter engineering, construction, finance and real estate development. Greater transparency and measurable diversity standards would only help in encouraging accountability across the industry.
Ultimately, diversity should be viewed as a business performance metric rather than a social obligation. As investors increasingly evaluate companies through ESG principles and governance standards, only organisations with inclusive leadership will attract capital, talent and long-term stakeholder confidence. The question is no longer whether women deserve a seat at the table. The real question is whether Indian real estate can afford to build the cities of tomorrow without the perspectives, innovation and leadership that women bring.
Finally, building a more inclusive leadership is not simply about fairness, it is about creating stronger businesses, more resilient organisations and better communities. If Indian real estate truly aspires to shape the future of urban India today, it must first ensure that the people leading that transformation are as diverse as the society they seek to serve in the future.
