New Delhi: The Public Enterprises Selection Board (PESB) has recommended the name of Lagadapati Venkata Srinivasa Sudhakar Babu for the post of Managing Director of Sagarmala Finance Corporation Limited, a Schedule ‘B’ central public sector enterprise under the Ministry of Ports, Shipping and Waterways.
The selection was made during PESB’s meeting No. 70/2025 held on August 13, in which 10 candidates were interviewed for the position. Babu is currently serving as Executive Director at Housing and Urban Development Corporation Limited (HUDCO).
Other candidates interviewed for the post included senior executives from REC Limited, RITES Limited, Bridge and Roof Company (India) Limited, Engineers India Limited, Kochi Salem Pipeline Pvt Ltd, Coal India Limited, Rail Vikas Nigam Limited, and the Inland Waterways Authority of India.
Sagarmala Finance Corporation plays a key role in financing port-led development projects under the Sagarmala Programme, which aims to enhance the performance of India’s logistics sector and promote port-based industrialisation.
The recommendation of PESB will now be placed before the Appointments Committee of the Cabinet (ACC) for final approval.
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