Mumbai, Maharashtra, India, April 2026 — Vishal Bhavsar has been promoted to Senior Vice President & Head ESG at Multiples Alternate Asset Management, marking a significant advancement in his leadership journey within the organization. In this expanded role, he will lead ESG strategy across the firm’s investment portfolio, driving sustainable value creation and strengthening governance frameworks.
Prior to this promotion, Vishal Bhavsar served as Head ESG at Multiples Alternate Asset Management, where he played a key role in embedding environmental, social, and governance principles into investment decision-making and portfolio management. His work has focused on aligning ESG frameworks with long-term value creation and investor expectations.
Before joining Multiples, he was Head – Corporate Sustainability at UltraTech Cement, where he led sustainability initiatives across more than 50 manufacturing locations. He was instrumental in integrating ESG into business strategy, driving disclosures such as DJSI, TCFD, and CDP, and contributing to sustainability-linked financing initiatives including green bonds.
Earlier, he worked with the Tata Sustainability Group, where he advised senior leadership on sustainability strategy and led initiatives in circular economy, water, and sustainable urban development. His role involved deploying sustainability assessment frameworks across Tata Group companies.
He also held leadership roles at Mahindra Lifespaces Developers Limited as DGM – Sustainability, where he led large-scale urban sustainability initiatives, climate mitigation strategies, and ESG reporting frameworks. His early career includes over seven years at Ernst & Young, where he worked in Climate Change & Sustainability Services, building deep expertise in ESG advisory and consulting.
With nearly two decades of experience in sustainability, ESG strategy, and corporate responsibility, Vishal Bhavsar continues to play a pivotal role in shaping sustainable investment practices in India.
About Multiples Alternate Asset Management
Multiples Alternate Asset Management, founded in 2009 by Renuka Ramnath, is a leading private equity firm focused on alternate asset investments in India. With approximately $3.5 billion under management and a portfolio of over 35 companies, Multiples has built a strong track record of value creation in partnership with entrepreneurs and investors.
The firm’s flexible investment approach, deep market insights, and strong network across corporate India enable it to identify and scale high-potential opportunities. Multiples actively collaborates with portfolio companies to drive sustainable growth and long-term impact.
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