YOUNG ENTREPRENEUR WHO STARTED OF WITH 15K ONLY!!
Founder and Managing Director of Nitesh Group of companies Nitesh Shetty began
his career in 1997 at the young age of twenty with a modest budget of US$ 300
borrowed from his mother.
Nitesh first ventured into the business of outdoor billboards with his company Serve & Volley Outdoors. With two key assets - ¬the advertising rights at the prestigious Delhi Metro and Park Street metro station, Kolkata, and with over 2000 advertising panels pan India, Serve & Volley can be counted amongst the country′s top outdoor agencies today.
Nitesh′s journey from billboards to buildings has been challenging and remarkable. Banks waved off a young businessman with big dreams and little money. However, two prominent banks (Dhanalakshmi Bank and Corporation Bank) had been of exceptional help in his formative years. The first big break came when the then Chairman of Dhanalakshmi Bank sanctioned him the required loan to put up a building on a property on M.G. Road.
It was in 2002 that Nitesh made his maiden foray in the real estate industry with Nitesh Estates, an integrated property development company for office buildings, residential, hotels and retail projects. Currently Nitesh Estates has over 8 million square feet under construction in residential and commercial space, hospitality and retail projects that are in the advanced stages of planning. Och Ziff, a New York-based hedge fund has picked up an equity stake of $51 million and Citigroup Property Investors earmarked an investment of $30 million in Nitesh Estates. The latter is specifically to develop the Ritz Carlton Hotel in the heart of Bangalore city. The bid was won over some of the biggest developers in the country for a 267-room top end luxury hotel with an investment of over US$ 125 million Nitesh Estates has also bagged a US$ 25 million project from ITC Limited, one of India′s top five corporates, to build top¬ end condominiums in Jakkur, Bangalore. This is lTC′s largest corporate housing project till date in the country.
Nitesh Estates, as part of its expansion strategy has acquired a high value nine acre plot in Chennai at US$ 161 million making it the fifth largest land deal in the country and the largest in South India. This will be a premium mixed use development encompassing luxury hotels, malls and high end service apartments creating an integrated 360 degree development. In Kochi, it is developing one of South India′s largest mixed use developments. It is also developing a two-million sq ft Special Economic Zone in Mangalore, which will employ more than 10,000 people once it is completed. From A-grade office and residential spaces to IT parks, shopping malls and five-star hotels, the company has taken a quantum leap in terms of scope and reach.
Nitesh Estates is also developing one of the largest elite lifestyle malls in India at Indiranagar, Bangalore, which will provide a select avenue for several major consumer brands to explore and create their footprint in Indiahttp://www.niteshestates.com/
Nitesh first ventured into the business of outdoor billboards with his company Serve & Volley Outdoors. With two key assets - ¬the advertising rights at the prestigious Delhi Metro and Park Street metro station, Kolkata, and with over 2000 advertising panels pan India, Serve & Volley can be counted amongst the country′s top outdoor agencies today.
Nitesh′s journey from billboards to buildings has been challenging and remarkable. Banks waved off a young businessman with big dreams and little money. However, two prominent banks (Dhanalakshmi Bank and Corporation Bank) had been of exceptional help in his formative years. The first big break came when the then Chairman of Dhanalakshmi Bank sanctioned him the required loan to put up a building on a property on M.G. Road.
It was in 2002 that Nitesh made his maiden foray in the real estate industry with Nitesh Estates, an integrated property development company for office buildings, residential, hotels and retail projects. Currently Nitesh Estates has over 8 million square feet under construction in residential and commercial space, hospitality and retail projects that are in the advanced stages of planning. Och Ziff, a New York-based hedge fund has picked up an equity stake of $51 million and Citigroup Property Investors earmarked an investment of $30 million in Nitesh Estates. The latter is specifically to develop the Ritz Carlton Hotel in the heart of Bangalore city. The bid was won over some of the biggest developers in the country for a 267-room top end luxury hotel with an investment of over US$ 125 million Nitesh Estates has also bagged a US$ 25 million project from ITC Limited, one of India′s top five corporates, to build top¬ end condominiums in Jakkur, Bangalore. This is lTC′s largest corporate housing project till date in the country.
Nitesh Estates, as part of its expansion strategy has acquired a high value nine acre plot in Chennai at US$ 161 million making it the fifth largest land deal in the country and the largest in South India. This will be a premium mixed use development encompassing luxury hotels, malls and high end service apartments creating an integrated 360 degree development. In Kochi, it is developing one of South India′s largest mixed use developments. It is also developing a two-million sq ft Special Economic Zone in Mangalore, which will employ more than 10,000 people once it is completed. From A-grade office and residential spaces to IT parks, shopping malls and five-star hotels, the company has taken a quantum leap in terms of scope and reach.
Nitesh Estates is also developing one of the largest elite lifestyle malls in India at Indiranagar, Bangalore, which will provide a select avenue for several major consumer brands to explore and create their footprint in Indiahttp://www.niteshestates.com/
