The Next Orbit - Breaking Barriers and Building Giants with Anand Deshpande
and a follow up module from June 17-19, 2027
ABOUT THE FLAME INVESTMENT LAB
FLAME was founded with the concept of interdisciplinary education as its cornerstone. FLAME celebrates ideas, cherishes diversity, and strives to deliver an academic experience that fosters intellectual curiosity, a critical thought process, self-reflection, leadership and teamwork skills, a sense of commitment and professionalism and a heightened sensitivity to one’s sociocultural environment. FLAME aims to provide an interdisciplinary platform of education by propagating different models and paradigms through, but not limited to, history, philosophy, political sciences, psychology, business, economics, mathematics and finance.
As part of its endeavor to constantly redefine education, FLAME inducted the FLAME Investment Lab (FIL), an initiative that strives to deliver the concepts and decipher the art of value investing to interested students. FIL believes in the dictum “invest in yourself”. It provides tools for self-learning and acquiring knowledge, constantly striving for intellectual stimulation and asking questions. FIL strives to widen your horizons, aiding you to connect the dots within seemingly disparate information. FIL truly believes that the best investment is investing in yourself. As Socrates has said, “I cannot teach anybody anything. I can only make them think.”
After successfully hosting multiple FLAME Investment Lab programs, we are excited to announce the ‘FLAME Investment Lab - The Next Orbit’ program from February 25-27, 2027 with a follow up module from June 17-19, 2027.
OUR PHILOSOPHY
FLAME Investment Lab (FIL) is a residential programme, structured keeping in mind our conviction that value investing is the only proven successful investment process that has delivered above market returns through various market cycles. It provides investors with various tools needed to form a temperamentally sound investment discipline.
It is an initiative that strives to deliver the concepts and decipher the art of value investing to interested students. FIL believes in the dictum “invest in yourself”. It provides tools for self-learning and acquiring knowledge, constantly striving for intellectual stimulation and asking questions. FIL strives to widen your horizons, aiding you to connect the dots within seemingly disparate information.
SPEAKERS
Dr. Anand Deshpande
Dr. Anand Deshpande is the Founder, Chairman, and Managing Director of Persistent Systems, which he has led since its inception in 1990 and is responsible for the overall leadership of the company.
He holds a B.Tech. (Hons.) in Computer Science and Engineering from IIT Kharagpur, and an M.S. and Ph.D. in Computer Science from Indiana University, Bloomington. Recognized by both alma maters, he received IIT Kharagpur’s Distinguished Alumnus Award (2012) and Indiana University’s Career Achievement Award (2007). Before founding Persistent, he worked at Hewlett-Packard Labs, Palo Alto.
Since transitioning as CEO in 2019, Dr. Deshpande has focused on entrepreneurship, data, biotechnology, health, research, and education. He co-founded the Persistent Foundation responsible for Persistent’s corporate CSR and DeAsra Foundation that supports over 300,000 nano-entrepreneurs. In collaboration with Dr. Ashok Korwar, he has also guided hundreds of entrepreneurs to scale their businesses through the Second Orbit program. He is a trustee of the VLDB Foundation, actively working to create a data platform for Indian patients suffering from cancer and diabetes. He is the co-chair of the Governing Body of the Biotechnology Research Innovation Council. He also serves as honorary Adjunct Professor of Practice at IIT Bombay’s Desai Sethi School of Entrepreneurship, and chairs the Boards of Governors at IIT Patna, IIIT Allahabad, and VJTI Mumbai.
Dr. Deshpande has previously served in various roles at NASSCOM, ACM India, SEAP, CSI, iSPIRT, UIDAI, and others. He has also been on the governing boards of College of Engineering, Pune and Gokhale Institute of Politics and Economics, Pune.
He is married to Sonali, and they have a daughter, a son and a daughter-in-law.
OTHER SPEAKERS
The program has also hosted the following distinguished speakers in the past. Their thought leadership and diverse perspectives have greatly enriched the program and added depth to the overall participant experience. These speakers may also be part of the upcoming edition based on their schedule and availability.
G. MARAN
Mr. Maran is one of Unifis co-founders and currently holds the position of Executive Director. Starting his Journey in capital market in early 90s, he has worked with some of the leading names in the financial markets. He currently manages some of Unifi’s key client relationships and has also been instrumental in spearheading Unifi’s initiatives into niche investment strategies and new geographies. His passion for granular details about Indian economy and consumption pattern helped to develop thematic investing styles far ahead of time. He generously shares his thoughts with data as a sought after speaker in academic and industry forums
G. N. Gauba
G.N. Gauba is an independent business advisor with over 40 years of experience in executive leadership roles, specializing in corporate finance and strategic management. He brings deep expertise in managing high-growth businesses, leading global acquisitions and integrations, establishing robust internal controls, and developing comprehensive financial and business performance reporting frameworks to enhance shareholder value.
Mr. Gauba currently advises corporations on establishing business processes for improved performance and management reporting processes. He serves as an Independent Director on the Board of a publicly listed company and is a Guest Speaker at FLAME Investment Lab, Pune and IIM Udaipur.
Before his superannuation in August 2023, Mr. Gauba served as Chief Financial Officer with the Motherson Group for about 26 years. His tenure included serving as Group CFO of Motherson Sumi Systems Limited (MSSL, now Samvardhana Motherson International Limited) from December 1997 to January 2022, followed by his role as CFO of the demerged listed entity, Motherson Sumi Wiring India Limited.
Mahesh Chhabria
Mahesh Chhabria is a seasoned business leader and finance professional with over three decades of experience spanning investment banking, private equity, and corporate leadership. He brings deep expertise in strategy, capital allocation, governance, and transformation across multiple sectors, underpinned by a strong conviction in the India growth story and the global potential of Indian enterprises.
Most recently, Mr. Chhabria served as Managing Director at Kirloskar Industries Ltd., where he led several critical strategic initiatives. His responsibilities included business incubation across real estate and NBFC ventures, mergers and acquisitions, capital allocation, and group-wide transformation efforts focused on growth acceleration, brand building, and leadership succession planning. His tenure was marked by a strong emphasis on longterm value creation and institutional strengthening.
Earlier in his career, Mr. Chhabria held senior investment roles at Actis and 3i, where he focused on investments in the industrial and healthcare sectors, contributing to the scaling and professionalization of portfolio companies. Prior to this, he spent over 13 years at ENAM, one of India’s premier investment banks, where he rose to become Co-Head of Investment Banking, advising leading Indian corporates on capital markets, M&A, and strategic transactions.
Today, Mr. Chhabria serves as an Independent Director on the boards of ZF Commercial Vehicle Control Systems India Ltd., Shoppers Stop Ltd., Deepak Nitrite Ltd., Waaree Energies Ltd., IndoSolar Ltd., and Axis Capital Ltd. Across these boards, he provides strategic insight and governance expertise, with active involvement in Audit and Risk Committees on the majority of them. He plays a key role in monitoring transformation journeys, guiding capital allocation decisions, mitigating enterprise risks, and enhancing shareholder value through prudent financial policies, robust controls, and best-in-class governance and disclosure practices.
In addition, Mr. Chhabria is an Independent Director for a prominent multi-family business conglomerate headquartered in Dubai, where he advises on growth strategy, people and organizational processes, governance frameworks, and internal controls. Leveraging his deep understanding of the manufacturing and retail sectors, he supports the creation of sustainable value for all stakeholders.
Natarajan Srinivasan
Natarajan Srinivasan (NS) is an award-winning, veteran corporate leader. He has successfully turned around large companies bringing them out of near bankruptcy transforming them into successful thriving businesses. His knowledge and experience span the length and breadth of business and corporate law in India combined with consensusbuilding negotiations with multiple stakeholders and an ability to push employees to ambitious goals. NS began his career of over 40 years with Bharat Heavy Electricals Limited (BHEL) and joined the Murugappa Group in 2004. He held several senior positions across the Group, including Director – Murugappa Corporate Board, Group Finance Director, Lead Director – Financial Services Business (NBFC and General Insurance), Executive Vice Chairman and MD of Cholamandalam Investments and Finance Company Ltd., and MD & CEO of CG Power and Industrial Solutions Ltd.
NS also served on the boards of Tube Investments of India Ltd., Cholamandalam MS General Insurance Ltd., TI Financial Holdings Ltd, and Godrej Agrovet Ltd. In 2018, the Government of India appointed him as an Independent Director to the Board of ILFS to help resolve its financial crisis. In 2020, he was appointed MD & CEO of CG Power and played a pivotal role in its successful turnaround postacquisition by the Murugappa Group.
He was honoured with Transformative Leader of the Year award (2024) by the Asian Society for Leadership and Corporate Governance and FE CFO Lifetime Achievement award (2025) by the Financial Express. He was featured in Mckinsey quarterly for his decisive leadership to turnaround CG power.
Mr. Srinivasan continues to contribute to the business world as a board member of CG Semi Private Limited, Multiples Private Equity Trustee Company Ltd, HDFC ERGO General Insurance Company Ltd, and an independent director and chairman of the board of HDB Financial Services Ltd.
NS is a commerce graduate, a member of the Institute of Chartered Accountants of India (ICAI) and of the Institute of Company Secretaries of India (ICSI).
Vinayak Deshpande
Vinayak Deshpande is a veteran corporate leader with over three and a half decades of experience building and growing companies focused on engineering, projects and services. A graduate in Chemical Engineering from IIT Kharagpur, his career has spanned diverse industries — from the design & implementation of Process Integrated Thermal Units and Captive Power Plants at Thermax, to Industrial Automation, Level 3 & 4 Manufacturing Systems at Tata Honeywell, and subsequently Large-Scale Infrastructure delivery at Tata Projects.
As Managing Director of Tata Projects for over a decade, Vinayak was instrumental in diversifying the company into ‘Urban Infrastructure’ and ‘Civil Construction’, winning landmark mandates to build Urban Metro systems across multiple cities. Earlier in his career, he served as Managing Director of Tata Honeywell’s India business, where he expanded operations pan- India to achieve 300%+ growth, followed by a successful tenure as Executive President (Operations) at Tata Teleservices. He has made significant contributions in many nationally important projects such as ‘Bandra Worli Sea Link’, ‘Atal Setu’, ‘Dedicated Freight Corridors’ across the country and most importantly the construction of ‘New Parliament Building’.
Vinayak was conferred the ‘Infrastructure Person of the Year’ award for 2016–17 by Construction World and recognised by several State and Central government entities for his notable contributions. He currently serves as Advisor in Tata Group,Chairman & Nonexecutive Director at Signify Innovations India Limited (formerly Philips Lighting) and Universal Projects, Independent Director at Voltas Limited, Kirloskar Brothers Limited, Praj Industries Limited, Atul Limited continuing to contribute to Indian industry through board and advisory roles
Yogesh Patgaonkar
Yogesh Patgaonkar is a seasoned HR leader, business executive, and coach with over three decades of experience spanning roles as CHRO, P&L leader, consultant, and facilitator. He holds a master’s degree in human resources from NMIMS and was honored with the prestigious Distinguished Alumnus Award (2025) by his alma mater for his outstanding contribution to the industry. In addition, he is credentialed as a Master Certified Coach (MCC) by the International Coaching Federation—an achievement earned by less than 5% of ICF-credentialed coaches globally.
In his most recent corporate role, Yogesh served as Chief People Officer at Persistent Systems, one of India’s fastest-growing IT services firms with a market capitalization of nearly USD 10 billion. Under his leadership, Persistent achieved industry-leading retention, won the highest number of awards at the Economic Times Human Capital Awards 2025, and set three Guinness World Records through employee engagement. Prior to this, Yogesh held CHRO positions at L&T Technology Services and Zensar Technologies. At Zensar, under his HR leadership, the company broke into DQ’s Top 10 Preferred Employers list for the first time, alongside achieving best-in-class retention and engagement scores.
Beyond HR leadership, Yogesh has successfully led business operations. As P&L Head for India, Middle East, and Africa at Zensar’s IT business, he steered the region to a four-fold revenue increase over three years while sustaining healthy profitability.
Currently Yogesh works as an Executive Coach to help leaders discover their true potential and as a fractional CHRO to help organizations scale.
An accomplished coach with more than 3,000 hours of coaching experience, Yogesh has worked with global and Indian organizations including WHO, John Deere, Bacardi, Reliance, Vodafone, Larsen & Toubro, SKF, and Barclays, among others. His facilitation expertise spans leadership development and addressing strategic challenges for large conglomerates, midsized enterprises, and founder-led companies.
PROGRAM DESCRIPTION
Business growth is rarely a straight line; it follows a pattern of successive S-curve-cycles of rapid expansion followed by plateaus that demand reinvention. When the right conditions align, businesses experience sharp growth at every stage, but inevitably, what once worked well stops yielding the same results. Despite continuing the same strategies, growth slows, and breaking out of this stagnation becomes increasingly tricky.
To sustain long-term success, businesses must recognize when they have reached the limits of their current orbit and take decisive steps to transition to the next one. This shift-moving from one S-curve to the next - is critical, yet it is one of the most complex challenges companies face. The paradox is that the very strategies that fueled growth in the current phase often become roadblocks in the next. Leaders must rethink, retool, and reorient their businesses to scale anew.
While companies face these transitions multiple times in their journey, the earliest shifts are particularly challenging. The first major transition-when a business outgrows the founder-driven model - requires a fundamental shift in leadership, operations, and strategy. Founders can take their companies to a certain level through sheer passion, grit, and hands-on execution. But beyond a point - typically when revenues reach tens of crores - this approach becomes limiting. Growth turns into an uphill battle, profitability plateaus, and many founders begin questioning whether the next stage is even worth the struggle.
At this pivotal moment, both the business and its leadership must evolve. To reach the next orbit, founders must transition from doers to enablers, from operators to architects of scale. They must build teams that take ownership, design systems that drive efficiency, and create cultures that sustain momentum. The decisions made at this stage determine whether a company continues growing or remains stuck in its current orbit.
In this program, we draw on our experience of working with numerous companies - including our own - to equip founders with the tools, frameworks, and mindset shifts needed to scale effectively. We will share practical strategies that can be applied in diverse business contexts, helping founders build a culture that fosters continuous growth.
While every company’s journey is unique, learning from others who have successfully navigated these transitions can be invaluable. That’s why we will bring in industry veterans who have experienced these inflection points firsthand. Peer learning will be a key component, with participants encouraged to share their challenges, exchange insights, and develop actionable solutions together.
When a company aspires to scale to its Next Orbit, it must strengthen the fundamentals that sustain long-term growth. These include:
- Market Position and Leadership
- Teamwork, People, and Delegation
- Financial Discipline
- Shareholder Dynamics
- Governance (From Day 1)
Yet, while these elements are necessary for scaling to the next orbit, they are not sufficient.
Scaling a business is not about finding a single formula but about mastering the art of reinvention - again and again. Whether you’re facing your first major transition or preparing for yet another leap to the next orbit, this program will provide the clarity, skills, and confidence to move forward.
PROGRAM OUTLINE
The formal program will commence with lunch on February 25, 2027 and will end with lunch and closing interactions on February 27, 2027.
Kindly note, the below stated program outline is indicative in nature and may be subject to change.
- Welcome & Framing
- Then & Now – Peer Commitments & Reflections
- Engines of Scaling
- Lessons from India’s Listed Legends
- Building a Sales Machine – Creating Repeatable GTM Motion
- AI and Disruptive Innovation – Transforming the Business
- Operations and Tech – Monitoring the Pulse of the Business
- M&A, JVs, Capital – Corporate Strategy Toolkit
- Leadership Succession and Family Constitution – Delegation, Legacy, Ownership
- Governance, Boards and Incentives – ESOPs, Structure, Alignment
- COO and JV Models – Lessons from other companies
- Theory of Constraints and Formalization – Institutionalizing Growth
- Fireside Chat: Scaling with Values
- Open Q&A: Hard Questions About Hard Things
- Why Companies Don’t Scale?
- ABCDE of Failure – Avoiding Common Scaling Pitfalls
- The Painted Picture – Orbit shifts and defining your future vision
- Market Leadership – Building Your Right to Win
- Teams That Scale – Hiring “With You” vs. “For You”
- Fireside Chat – Purpose, Core Values and Culture
- Founder’s Identity and Mental Health
- Scaling Globally and Inward
- International Expansion – Organically and Inorganically
- Mini-Talks:
- Vision + Execution
- Learnability = Scalability
- Focus: What Not to Do
- Octopus Strategy: One Brain, Many Arms
- Culture, Courage and Reputation - Scaling from Within
- Exit Strategy – When to Sell & Sharing the Spoils
- Closing
From June 17 to 19, 2027, a follow up module will be conducted, details of which will be shared subsequently. Certain topics mentioned above will be covered in the follow up module.
WHO SHOULD APPLY?
This program is designed for ambitious business leaders of privately held or publicly listed Indian companies with annual revenues typically ranging from ~INR 400 crores to ~INR 4,000 crores who are ready to propel their organizations into their next orbit of growth and impact. Ideal participants include:
- Founders and Promoters.
- CEO’s and CXO’s who are steering organizations through an inflection point-seeking to expand scale, strengthen capabilities, or enhance market positioning.
- Entrepreneurial leaders aiming to build resilient enterprises that can compete nationally and globally, while navigating challenges of growth, governance, and transformation.
- Second-generation leaders or successors preparing to take their family-owned or founder-led business into a new era of professionalization, innovation, and growth.
The program is particularly relevant for leaders who are:
- At the threshold of significant growth and diversification.
- At the crossroads seeking clarity on the path forward and facing critical decisions regarding succession, scaling or exit.
- Aspiring to strengthen organizational leadership, governance, and strategic agility.
- Committed to building enduring enterprises that create value beyond financial metrics-impacting industries, communities, and markets.
WHO SHOULD NOT APPLY?
This program is not intended for:
- Early-stage entrepreneurs or startups still in the process of establishing product-market fit or stable revenues.
- Leaders of very small enterprises, where the immediate focus is on survival and basic scaling rather than strategic transformation.
- Functional managers or mid-level executives who are not in a position to influence enterprise-wide strategy, leadership, or long-term direction.
- Individuals seeking purely technical, operational, or functional skill development rather than holistic leadership, strategy, and growth perspectives.
- Leaders unwilling to challenge existing assumptions or step outside their comfort zones to reimagine their organization’s future trajectory.
SELECTION CRITERIA
Participation in the program is highly selective to ensure a rich and balanced learning environment. Admission will be based on the following:
Nominations
- Each company may nominate up to two participants. While a single nomination is allowed, we encourage nominating two participants to foster internal collaboration and shared learning.
Company Representation
- The Founder/CEO/Promoter and one additional senior leader (such as a CXO or next-generation successor).
- Dual representation is encouraged, as it would ensure both strategic vision and operational leadership are brought into the program, while maintaining fair distribution across participating companies.
Applicant Evaluation
- Selection will be based on a holistic evaluation of each applicant’s leadership role, track record, and growth orientation.
- Candidates will be assessed for their capacity to contribute actively to discussions, share experiences openly, and enrich peer-to-peer learning.
- Particular consideration will be given to leaders who demonstrate:
- A strong commitment to scaling their organizations responsibly.
- The ability to engage in reflective, collaborative learning.
- A mindset open to challenge, innovation, and transformation.
Supporting Documents
- Company Profile
- Basic details: name, sector, year of incorporation, ownership type (private/public/family-owned).
- Revenue band confirmation.
- Key business highlights: scale, markets served, recent growth, or transformation milestones.
- Participant Profile
- Updated CV or professional bio.
- Current role, tenure, and decision-making responsibilities.
- Past leadership achievements or initiatives led.
- Leadership Intent
- Short personal statement (200–300 words) on:
- Why they want to join The Next Orbit.
- How they see the program supporting their leadership journey.
- How they plan to contribute to peer learning.
- Short personal statement (200–300 words) on:
All applicants to note the following:
- Admission to the program is not subject to early submission of application form.
- FLAME University reserves the right for selecting participants to this program.
- Selection decisions will take into account the responses submitted in the application form.
WHAT TO EXPECT?
The program is designed as an immersive experience that goes beyond classroom learning. Participants can look forward to:
- A curated peer group
- Actionable insights
- Leadership conversations
- Personal growth
- Enduring network
WHAT NOT TO EXPECT?
While the program is designed to be an immersive experience, it is important to clarify what this program is not about:
- Generic Management Training
- Functional Skill Workshops
- One-Size Fits All Solutions
- A Passive Learning Experience
- Quick Fixes
PROGRAM FEES
- INR 3,00,000 plus GST (INR 3,54,000) for the first participant. For two participants from the same company, the second participant will be charged INR 1,50,000 + GST (INR 1,77,000) which includes tuition, course materials, meals and on campus accommodation.
- Fee is inclusive of sessions scheduled for the program in February 2027 and June 2027.
- Fee does not include travel and other incidental expenses.
- On being selected for the program, candidates will receive the payment details and procedure.
- Selected candidates must complete the payment no later than December 31, 2026.
- Kindly note, even if the application is submitted, but the payment is not made, the application will be deemed incomplete and annulled.
APPLICATION DEADLINE
November 30, 2026
SELECTION NOTIFICATION
December 15, 2026
OTHER INSTRUCTIONS
- It is recommended to bring your own laptop.
- Please note that active participation of applicants is a must.
- There will be guest sessions by practitioners.
APPLICATION PROCEDURE
To apply the applicant must complete the application form.
WITHDRAWAL AND CANCELLATION POLICY
-
In the event that FLAME University is unable to provide the program, all fees will be fully refundable.
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For selected candidates:
- If a request for withdrawal is received on or before January 15, 2027, the full amount of the fee paid shall be refunded.
- If a request for withdrawal is received after January 15, 2027, 10% of the fee paid shall be refunded within one week after the program ends. GST on cancellation will be applicable.
- Under no circumstances shall the fee paid be carried forward to any future program.
FACILITIES AND INFRASTRUCTURE
FLAME offers 70 acres of tranquil space, just 13 kms from the Pune University main gate. It is an eco-friendly campus adjoining an 18-hole golf course. Our campus is designed to foster dynamic learning through state-of-the-art classrooms, art centers, conference venues, and administrative spaces. It features the Vivekananda Library with 55,000+ books and digital resources, and the APJ Abdul Kalam Academic Block, which houses advanced labs, including the Bloomberg Lab, lecture theatres, faculty spaces, and collaborative learning areas. The Shantiniketan Auditorium further supports lectures, performances, and cultural activities.
FLAME strongly promotes sports through the Arjuna Centre for Sports, offering over 20 indoor and outdoor sports including cricket, football, swimming, badminton, squash, and a modern gymnasium.
Some of the other amenities include cafes, Wi-fi connectivity, an infirmary and an ambulance in case of emergency.
During the duration of the program, participants are encouraged to explore the campus and use the facilities FLAME offers.
ACCOMMODATION
CONTACT
Phone: +91 84840 98259 (Text and WhatsApp only)
Toll-free No: 1-800-209-4567
E-mail:
Website: www.flame.edu.in
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VENUE
FLAME University
Gat No. 1270, Lavale, Off. Pune Bangalore Highway,
Pune - 412115, Maharashtra, India.