ABOUT VANTROCK

Vantrock is an operator-led real assets platform, built to work in the white space of every strategy it enters.

A real asset is three jobs: finding the land, building and running the asset, managing the capital that owns it. Vantrock does all three with one team. Headquartered in Mumbai, it originates, develops, operates and manages institutional-grade real assets from land to operations.

Warehousing, industrial and logistics parks are the first strategy. The platform is run by operators, and it is built to run lean. Suburban office campuses, strata offices, data centres, senior living and infrastructure assets follow, each as its own strategy, sequenced on delivery and each in a white space others have left open, with a clear path to REITs and InvITs.

Real assets only, across every class the platform grows into, in sequence.

WHY THIS ROLE EXISTS

We are launching the platform's portfolio management company. It will manage discretionary and non-discretionary portfolios and advisory mandates for investors, in listed and unlisted securities, within the rules. Those rules require one person to answer for every decision made for a client and for how the business runs. That person is the Principal Officer.

This seat is that person. You design the investment approaches, build the process and the operating platform, make the portfolio decisions and keep the record of why each one was made. You bring a securities-market discipline to a platform whose roots are in real assets.

You should not apply if your recent years have been spent in coverage or product while someone else ran the portfolios. We are looking for the person who ran them.

WHAT YOU WILL OWN

- Investment Strategy and Portfolio Management

- Develop and execute the PMS investment strategy, with a focus on listed real estate and real estate-linked companies.
- Identify investment opportunities across market capitalisations, sectors and investment styles, based on fundamental research and valuation discipline.
- Lead portfolio construction, security selection, position sizing, capital allocation and portfolio rebalancing.
- Develop investment theses based on business fundamentals, earnings growth, asset quality, management capability, balance-sheet strength and valuation.
- Monitor market conditions, sector developments, interest-rate movements, liquidity and macroeconomic factors affecting portfolio performance.
- Make investment recommendations and decisions in accordance with the approved investment mandate, client objectives and risk parameters.

2. Real Estate and Sector Research
- Conduct detailed research on listed real estate developers, REITs, warehousing and industrial park operators, construction companies, cement and building-material manufacturers, and other real estate-related businesses.
- Analyse real estate market cycles, residential and commercial demand, office leasing, rental growth, vacancy levels, absorption, project launches and inventory.
- Understand the business models of asset-heavy companies, developers, landlords, REITs and real estate service providers.
- Evaluate land banks, development pipelines, project-level economics, pre-sales, collections, rental yields, occupancy, lease expiries and capital expenditure requirements, wherever relevant.
- Assess the implications of interest rates, financing costs, leverage, refinancing requirements and regulatory changes on sector participants.
- Track listed-company disclosures, earnings announcements, corporate actions, industry data and competitor performance to identify emerging opportunities and risks.

3. Financial Analysis and Valuation
- Build and review financial models, forecasts, scenario analyses and valuation frameworks for investment opportunities.
- Apply relevant valuation methodologies, including discounted cash flow (DCF), comparable-company analysis, EV/EBITDA, price-to-earnings,



NAV-based valuation and cap-rate-based valuation, as appropriate to the business.
- Analyse revenue recognition, earnings quality, operating cash flows, working capital, debt maturity profiles and capital allocation.
- Evaluate the relationship between market prices and underlying business fundamentals, asset values and future earnings potential.
- Perform sensitivity analysis to assess downside risks arising from lower sales, rental pressure, delayed projects, higher financing costs or valuation multiple compression.
- Establish explicit investment theses, target valuations, downside scenarios, investment horizons and exit criteria.

4. Investment Research and Due Diligence
- Lead fundamental research on prospective investments and prepare detailed investment notes for internal review.
- Review annual reports, quarterly results, investor presentations, credit ratings, exchange disclosures and relevant industry publications.
- Conduct management interactions, analyst calls, industry expert discussions and other permitted research activities.
- Assess corporate governance, promoter track records, related-party transactions, auditor observations, capital allocation practices and other material risks.
- Maintain a documented investment process covering the rationale for entry, ongoing monitoring, changes in thesis and exit decisions.
- Track the performance of investment recommendations against relevant benchmarks and evaluate the effectiveness of the investment process.

5. Portfolio Risk Management and Performance Monitoring
- Monitor portfolio concentration, sector exposures, liquidity, volatility, drawdowns and security-specific risks.
- Establish and review appropriate portfolio risk limits, monitoring triggers and escalation procedures.
- Assess correlations between holdings and the portfolio's sensitivity to interest rates, credit conditions, real estate cycles and broader equity-market movements.
- Conduct portfolio stress tests and downside scenario analyses.
- Review portfolio performance against the appropriate benchmark and evaluate the contribution of individual securities, sectors and investment decisions.
- Take timely action when the investment thesis weakens, valuations become unattractive or risk parameters are breached.

6. Regulatory Responsibilities and Governance
- Discharge the responsibilities assigned to the Principal Officer under the applicable SEBI Portfolio Managers Regulations and other relevant regulatory requirements.
- Ensure that investment activities are undertaken within the PMS's approved investment mandate, applicable client agreements and internal investment policies.
- Work closely with the Compliance Officer to support compliance with SEBI requirements, disclosure obligations, reporting requirements and applicable internal controls.
- Ensure that investment decisions and material portfolio actions are appropriately documented and supported by the investment process.
- Promote fair treatment of clients, appropriate handling of conflicts of interest, confidentiality and adherence to applicable conduct standards.
- Participate in regulatory reviews, internal audits, compliance reviews and inspections, as required.
- Oversee the implementation of appropriate investment controls, escalation mechanisms and governance processes in coordination with the relevant functions.

7. Client and Stakeholder Engagement
- Explain investment strategy, portfolio positioning,



sector outlook and performance drivers to senior management and relevant stakeholders.
- Contribute to periodic investment updates, portfolio commentary and performance reviews.
- Support the preparation of investment-related content for client communications and marketing materials, subject to applicable regulatory requirements.
- Coordinate with the Compliance Officer, operations team, research analysts, custodians and other service providers to ensure smooth functioning of the PMS business.

WHO WE ARE LOOKING FOR

Essential

- One of these qualifications: a CFA charter. A Chartered Accountant or Cost and Management Accountant. A graduate degree with a professional qualification in finance, law, accountancy or business management, such as an MBA, PGDM or LLB. Or the one-year NISM Post Graduate Program in Securities Market (Portfolio Management). CFA Level I or II, FRM or CFP alone do not qualify.
- 8+ years work experience in the securities market, at a portfolio manager, alternative investment manager, asset manager, stock broker, investment adviser or research analyst, with at least 2 of those years in portfolio management, investment advisory or fund management. Real estate development, leasing or consulting does not count towards this.
- A current NISM-Series-XXI-B Portfolio Managers certificate when you join.
- A clean record: no adverse securities-market proceedings, no relevant conviction and no regulatory debarment.
- You use AI tools every day in your work and can show what you have done with them.
- Mumbai, on site.

Advantageous

- Real estate, infrastructure or credit portfolios at an alternative investment manager, a REIT or an InvIT.
- NISM-Series-XIX-C or XIX-D certification.
- Setting up or scaling a portfolio management or advisory business.
- Credit analysis of debentures and structured debt.

What this role is not

- It is not the co-investment seat. Co-investment alongside the investment manager sits with the investment manager's own team.
- It is not a capital-raising seat. Investor and capital-partner coverage for the platform sits with the capital formation team.
- It is not a land origination seat. Land sits with the land and investments team.
- It is not a finance or treasury seat. Accounts, treasury and banking relationships sit with the finance team.

STANDING REQUIREMENTS AI proficiency is a standing requirement in every seat at Vantrock. You use AI tools daily as force multipliers, and you judge their output rather than forwarding it. This is tested for every appointment through a supervised assessment. There are no exceptions by seniority.

Partner command is the second standing requirement. Vantrock runs on outsourced partners, so every person here must be able to scope, brief, hold to an SLA, score and commercially discipline a partner, and must know what should never be delegated.

COMPENSATION PHILOSOPHY The people who build the platform own a piece of it, vesting over time. A market salary covers the month.

The rest of what you earn here is built: pay on what you bring in, for land, leases and capital, so a good year in your seat is yours and not only the company's, and a stake in a platform designed to be worth more for every rupee it manages than one assembled the old way. Most careers in this industry pay you for your time. This one is built to make you wealthier for what you build. Run your seat like it is yours, because part of it is.

CULTURAL FIT

We're building Vantrock over a decade, not a funding cycle. We're looking for people who treat technology as the default answer rather than a supplement, who want to be co-builders of the platform rather than employees executing instructions, and who are comfortable saying "I don't know" and "I was wrong." If you want a defined role with defined edges, this isn't the right seat. If you want to help build an institution from zero, it might be.

We don't fill seats. We build the platform.

📌 Principal Officer- PMS (Mumbai)
🏢 Vantrock
📍 Mumbai