Senior Accountant

Company Description Akshay Group is a real estate organization known for delivering economical residential solutions while maintaining strong trust and reliability with its buyers. Since 2000, the Group has expanded significantly, adding notable luxury housing projects to its portfolio. Its success is driven by a clear understanding of market dynamics and the demand-to-supply ratio.

Strategic planning, innovative execution, and a consistent customer-first approach have enabled Akshay Group to achieve sustained growth. The Group is guided by a core belief that every challenge can be met with a “Yes, possible!” mindset.

Reports to: Chairman and Executive Directors

Key Responsibilities

Strategy & Fundraising

• Build project feasibility and cash-flow models covering member obligations, premiums, TDR, construction, finance costs and sales

• Raise and manage project funding from banks, NBFCs, AIFs and equity partners, and negotiate terms, security and covenants

• Manage investor relationships and help structure fund and co-investment arrangements

Treasury & Society Commitments

• Manage cash flow, customer collections, banking relationships, credit limits and escrow accounts

• Plan funds for MCGM premiums, TDR purchases, stamp duty and construction milestones

• Issue and track bank guarantees to societies, and make sure member rent, corpus and shifting payments go out on time

• Prepare financial credentials for society tenders and present them to society committees and PMCs. These include audited financials, net worth and solvency certificates, and comfort letters from lenders and investors.

Accounting, Reporting & Controls

• Oversee books of accounts, project-wise costing and revenue recognition (Ind AS 115 or the ICAI Guidance Note, as applicable)

• Deliver monthly MIS, budget-vs-actual and project cash-flow reports to the promoters

• Finalise accounts and manage statutory, tax and internal audits

• Strengthen internal controls, including approval matrices, contractor bill checks, payment authorisation and ERP systems

• Build, lead and develop the accounts team

Tax & Regulatory Compliance

• MahaRERA: designated project accounts, CA withdrawal certificates, quarterly updates and annual audited statements

• GST and income tax, including issues specific to redevelopment (development rights, TDR/FSI, members' units, TDS)

• ROC/MCA compliance, working with legal and secretarial advisors

Candidate Profile

• Chartered Accountant; a CFA or MBA (Finance) is a plus

• 5+ years of experience after qualifying, including 3+ years leading finance at a Mumbai residential developer

• Experience with society redevelopment strongly preferred

• Proven record of raising project finance and managing lender relationships

• Strong command of MahaRERA, GST and income tax as they apply to real estate

• Skilled in ERP and accounting systems (SAP, Farvision, Tally or similar)

• High integrity and discretion; comfortable in a hands-on, promoter-led company

• • Confident communicator with lenders, investors, auditors and society committees