The foundation of what would grow to become the Nitesh Group was laid in 1997 by Nitesh Shetty, first generation Indian entrepreneur – then a 19-year- old with a capital of INR 12,000 (USD 300) borrowed from his mother, by establishing a billboard business for advertising in Bangalore and branded ‘Serve and Volley’.


Serve & Volley: Out of Home (OOH) business, started executing in more prime locations & building up good cash flow business.


Entered into Public Equities and Trading business. Started working in the Indian Stock Market.


• Scaling up Out of Home Bill Board business.

• Trying to professionalize Public Equity space.


Started agriculture trading business.


• Completed a Small infrastructure work in Telecom Sector.

• Started working towards entering into Real Estate business.

• Serve & Volley growing to become dominating player in the Outdoor media Industry.


• Started working on acquisition of Real Estate space in M.G. Road, Bangalore.

• S&V becomes a profitable venture.

• Public Equities started doing well.

• Ventured into media business segment.


• Founded ‘Nitesh Estate’ by venturing into Property development.

• “Nitesh Broadway”Office Building in MG Road, Bangalore, the first of many property developed by Nitesh Estate.


• Rapid growth of real estate business. Commenced development of “Nitesh Timesquare” Office building on MG Road, Central Business District, Bangalore.

• Signed“Nitesh Wimbledon Park”a luxury resident development on Race courseroad, Bangalore and Signed “Nitesh Mayfair” luxury homes off Lavelle Road, Bangalore.


• Ventured into Hotel segment with an agreement to develop the first “Ritz Carlton in India”, located on Residency Road, Bangalore.

• Launch of “Nitesh Forest Hills”, a high-rise condominium development in Whitefield –suburbs of Bangalore.

• Signed a ‘built to suit’ Development for ITC ltd, one of India’s largest built to suit corporate housing projects.

• Ventured into Nitesh Agrico, an integrated Corporate Agricultural Company focusing on the entire back-end of the food business, headquartered at New Delhi, India.


• Design work for "Ritz Carlton, Bangalore" started.

• Och Ziff invested 2 tranches of 8 million equity and further 20 million

• Citigroup property partners invested 70 million into hotel platform

• Won the bid for an 8.26 acre property in the Boat Clubarea in the heart of Chennai.

• Serve & Volley won 3 large tender for outdoor advertising.

• Real Estate started scaling up in residential space.

• Nitesh Estates got two rounds of Private Equity funding.


• Nitesh Agrico started trading by export of Fruits & Vegetables.

• Team was built to foray into Hotel Business.

• Partnered with Ritz. Brought them into India as a Partner.


• HDFC AMC pick up 10.1% stake in Nitesh Housing, an SPV formed to develop projects.

• Consolidation of assets through long term consent with Delhi and Calcutta Metro by Serve & Volley

• Scaling up on the public equity space.


• Nitesh Estates goes public on the Bombay Stock Exchange (BSE) and raises $70 million.

• Launch of “Nitesh Ceasers Palace” located in the fastest growing locality South Bangalore on the Kanakapura Main Road, a modern development for young urban India.


• Nitesh Estates, receives CNBC Awazaward for Nitesh Garden Enclave, Bangalore in the Best Luxury Segment Residential Property in India held at Marina Bay Sands in Singapore.

• Launch of “Nitesh Hyde Park” a premium condominium located at South Bangalore on Banerghatta.


• Launch of villas Nitesh Napa Valley, Airport Road, North Bangalore – California living brought to Bangalore.

• Completed Nitesh Lexington, Office building on Brigade Road, Central Business District, Bangalore.


• Opening of India's first "Ritz Carlton" in downtown Residency Road, Bangalore on 31 October.

• Launch of “Nitesh Logos” exclusive luxury homes designed to meet most discerning needs, on Aga Abbas Ali Road CBD Bangalore.

• Launch of “Nitesh Fisher Island” super stylish premium resort villas, in Cavellosim South Goa.


• Ventured into Water Business.

• Recognized by Track2Realty’s Brand X Report 2014-2015 as a ‘top 10’ developer in the ‘Hospitality’ segment across India for The Ritz-Carlton, Bangalore.

• Travel+ Leisure recognizes The Ritz-Carlton, Bangalore as Number 1 Business Hotel in India.

• GeoSpa Asia Spa-India Awards-Best New Spa (Hotel) The Ritz Carlton, Bangalore.

• Times Food Award, The Lantern Best Chinese Restaurant.


• Launched technology based companies, HeyHolidays (Vacation Rental) and Photoconcierge (Stock Photography).

• More diversification in the real estate portfolio, Nitesh Estates buys Shopping Mall (Nitesh Hub) located in up market Koregaon Park, Pune for Rs 250 crore.

• Received the Highly-Commended Asia Pacific Property Award– hotel interiors category for The-Ritz Carlton, Bangalore.

• Received the International Property Awards Asia Pacific, for Nitesh Napa Valley “Highly Commended Landscape Architecture, India”.


• Ventured into Financial Service business by registering Nitstone Capital Private Limited.

• Partnered with Virat Kohli – ace cricketer, to be our Brand Ambassador.

• Nitesh Estates logo evolves, launch of new logo. Nitesh Fisher Island awarded A+ rating in Track2Realty Investment Magnet Report 2015, Identified as one of India’s top luxury projects.


• Formal inauguration of Nitesh HUB, shopping mall at Koregaon Park, PuneNitesh states is recognized as one Asia’s Greatest Brands and Mr. Nitesh Shetty Founder and Chairman Nitesh Estates is one of Asia’s Greatest Leaders.

• An award audited by PWC. We were commended with these titles at Marina Bay Sands Singapore.


• Nitstone Finserv, the flagship financial service company of Nitesh Group, has registered with Reserve Bank of India.

• Nitstone Finserv commenced NBFC operations.

• Nitstone Finserv Opens Its First Retail Branch


• NEL company decides to exit Residential Housing business and not pursue home building in the future and halt complete on going projects.

• Nitesh Estates is now NEL Holdings.

• Nitesh Pune Mall Ltd sells its 1 million sqft mall to reduce 400 cr of debt.

• NEL Holdings (Nitesh Estates) exits from Cunningham Road residential asset.


• Nitesh Land the commercial and rental arm of Nitesh Group was created to focus on rental assets.

• Also incorporate Waste Bull to venture into the garbage collection business and be a strong player in Urban Municipal waste business.


• Nitstone Finserv ventures into Gold Loan business.

• Nitesh Group decides to focus on 12 sectors for the next decade and bring in capital and professional management to grow the 12 sectors.

• Company decides to enter into Data Center space.

• Nitesh Group names it's warehousing arm as NitLogis.