Deven Maskara has joined Mahindra Susten in April 2024, as Head Commercial and M&A, based out of Mumbai. In this role, he is responsible for Project Finance and Asset Management for newly won projects. Deven is also responsible for Mergers & Acquisition role in flipping of built assets to InvIT and or to any third parties. With his acumen in commercial arena of business, he provides Commercial support to Business Development, Contracting and Compliance team. As a seasoned finance professional with more than 25 years of experience, he joins Mahindra Susten from parent company Mahindra & Mahindra Limited. Deven had joined Mahindra Group in Feb 1998.
Before joining Susten, Deven was Senior General Manager, Partnerships & Alliance in Mahindra Group’s Partnerships & Alliances Team. In this role, he was primarily responsible for leading projects in Partnership and Alliances function for various sectors in Mahindra group viz After Market, Holidays, Farm Equipment sector, Steel sector, Aerospace & Défense sector including Renewable Sector. He was instrumental in setting up Sustainable Energy Infra Trust InvIT with Susten as Co-Sponsor with OTPP and listing the largest InvIT in India and also by far in Asia in the renewable energy sector space. He has played key role in divestments of non-core business in the group i.e First Choices Services Business, dissolving of JV with Ford. He has also brought in financial and strategic investors in First Choice Wheels business, has done acquisition of Holiday Club Resort, the largest vacation ownership company in Europe in Finland for Club Mahindra to make it largest VO company outside US. In Mergers & Acquisition function he has also played important role in structuring the group companies within the Mahindar Group by way of various mergers and demergers. Before Partnership and Alliance or Mergers & Acquisition he has worked in group in different functions; FES tractor plant, R&D Project Finance, Corporate Finance. In Corporate Finance he has raised Project Finance and did financial closure for Mahindra’s flagships and biggest auto manufacturing plant in Chakan in 2009-2010. In Corporate Finance role, he has also raised Equity of ~ 150 Mn in form of Fully Compulsory Convertible Debentures from Goldman Sachs in 2008, he has rich experience in raising both rupee debt and foreign currency debt and quasi equity by way of ECB (External Commercial Borrowings) and FCCB’s (Foreign Currency Convertible bonds) issued in 2006. He has received CFO 100 Award in 2020 for his contribution in the areas of Corporate Finance and M&A.
Deven has done both post-graduation and graduation from Mumbai University. Master’s in Financial Management from Narsee Monjee Institute of Management Studies and Bachelors in Production Engineer from Saboo Siddik College of Engineering in Mumbai.