Nationality Indian Name Nitesh Shetty Residence Bengaluru | Ethnicity Mangalorean (Bunt) Spouse Sujatha Shetty | |
 | ||
Occupation Founder & CEO - Nitesh Group of Companies
Chairman - Nitesh Estates Ltd. | ||
Cowboy mix by nitesh shetty jayesh bhawsar
Nitesh Shetty, an Indian Entrepreneur, is the Founder of Nitesh Group of companies, of which the portfolio includes property development, hotels, internet, billboards and diversified investment. He is the founder and chairman of Nitesh Estates Limited, which claims to own more than 20 million sq.ft. of under various stages of development.
Contents
- Cowboy mix by nitesh shetty jayesh bhawsar
- Birthday wish from nitesh shetty resonance events wmv
- Early life
- Entrepreneurial ventures
- Philanthropy
- References
Birthday wish from nitesh shetty resonance events wmv
Early life
Born to Pushpa and PV Shetty, Nitesh is the eldest of 3 children. He has studied in St. Josephs Boys’ High School in Bangalore. He has played professional tennis and was ranked top 10 in India in the juniors and the state of Karnataka. He has also represented his school for 3 years in cricket.
Entrepreneurial ventures
Nitesh started his first business in September 1997 at the age of 19, with a capital of INR 12,000 (USD 300) borrowed from his mother. He started a billboard business for advertising in Bangalore under ‘Serve and Volley’ brand. In 2004 he got into property development and founded Nitesh Estates Limited.
He first developed a property on MG road (Bangalore), where he already had a billboard and relationship with the landowner. He did a joint venture and developed an office building. In 2006 he bought two land parcels in Race-Course road and Kasturba road from a German MNC and HNI family in New York and built a residential development.
In 2007 he won a project with ITC Limited to build a corporate housing project of over half a million sqft. Och-Ziff, Citigroup Fund, Apollo Global Capital, HDFC ventures and HDFC asset management invested in Nitesh Estates.
In partnership with US based Ritz-Carlton Hotel Company for its first venture in India, Nitesh built the The Ritz Carlton Bangalore hotel.
He took his company public at the age of 33 on the India stock exchanges (BSE and NSE). He has diversified over from billboards and real estate, into water, e-commerce technology, hotels, shopping malls and other investments.
His company Nitesh Estates was amongst many being investigated for tax evasion by IAS officer D. K. Ravi prior to his death. A tax evasion of 10 crore was discovered in two properties alone.
Nitesh Estates has signed a $250 million partnership with Goldman Sachs for buying income producing assets. He has also acquired a shopping mall for Rs. 250 crores in Pune of 1 million sqft. at Koregaon Park.
Philanthropy
Nitesh has been working on education, child welfare via the personal foundation and CSR activities within the company.