Altico Capital India said Tuesday Naina Lal Kidwai has been appointed as chairman of the company.

Kidwai has been serving as an independent director on its board since February 2016, the company said in a statement. It said that Robert Petty will step down from the chairman role while continuing as a non-executive director.

Petty said: "This appointment is a conscious step, exemplifying the evolution of Altico's scale and institutional infrastructure". The company said that the company is set for the next phase of growth by providing end to end financing solutions to all segments.

Kidwai said that it is a tremendous opportunity to closely work with Altico Capital's shareholders, directors and leadership team in building a robust NBFC.

The company also said that its current focus is on senior secured lending to residential projects in the Real Estate sector across Tier-1 cities in India which include Mumbai, NCR, Chennai, Bangalore, Pune and more recently Hyderabad which is rebounding with the increased political stability.