Times Group-owned property portal Magicbricks has hired Mayank Jain, who ran CarDekho’s auto classifieds business for over five years, as its chief executive officer.
The company announced the appointment on Friday, though Jain took charge on October 1. He will work out of Magicbricks’ Noida office and report to N Subramanian, Executive Director and Group CEO of The Times Group.
The move brings a car marketplace head to one of the country’s biggest property listing platforms. At CarDekho Group, Jain led a turnaround and expansion of the auto classifieds arm. Under him, the unit became profitable, was rebuilt with artificial intelligence (AI) at its core and moved into new markets abroad.
Mandate: growth, tech and better numbers
Magicbricks, which calls itself India’s leading property platform, said Jain’s job is to push the company into its next phase of growth. His focus areas include:
– Making fuller use of the platform’s digital strength and pushing tech-led products
– Sharpening its focus on property buyers, sellers and renters
– Driving business change and improving operational and financial results
– Strengthening Magicbricks’ place in India’s changing real estate market
The company described his appointment as an important step in its growth plans, saying his mix of experience across industries, commercial skills and tech-first approach would support its long-term goals.
From TV newsrooms to online marketplaces
Jain has more than 20 years of leadership experience across digital, media, technology and consumer businesses.
Before CarDekho, he was CEO of Network18’s Hindi news cluster, running seven news channels, including News18 India. He has also held senior roles at Disney Star, BT Group, Samsung and HT Media.
His work has covered sales, marketing, product, strategy and profit-and-loss responsibility, with a record in growing revenue, running tight operations and taking businesses digital.
Jain has an MBA from INSEAD, a PGDM from the Management Development Institute (MDI), Gurgaon, and a degree in computer engineering. He was named in IMPACT’s 40 Under 40 list and teaches as guest faculty at Ashoka University’s Centre for Entrepreneurship.
Outside work, he follows technology and investing, and is keen on fitness and team sports.
