Nitesh Shetty a first-generation entrepreneur, is the Founder and Chairman of Nitesh Group of companies. A former tennis player, he started his career in 1997 at the young age of 19 with a modest budget of US$ 300 borrowed from his mother to start a billboard business. The company Serve & Volley outdoors went on to become a well-recognised company in the out of home advertisement industry.
Born to Pushpa V Shetty and P V Shetty in Bangalore, Karnataka, India. Nitesh Shetty studied in St. Joseph High School, Bangalore. He played competitive cricket for the school and at the state level. He was then playing on the national and state tennis circuit and was ranked in the top 10 in the juniors.
With the vision of the group to be in the key sectors of the Indian economy, he forayed into the following:
- Property Development: 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 and retail projects.
He was on the first few to attract FDI in India with large institutions like Och Ziff, Citi, Appolo, Goldman Sachs investing into his companies.
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.
- Financial Services: In 2018, he diversifies into the Financial Services space and obtained the NBFC licence from the Reserve Bank of India.
Nitstone Finserv caters to lending in the personal finance and consumer space.
- Self Storage: In 2016, Mr Shetty launched Orange Self Storage, long and short term storage facilities.
- Public Equities: Nitesh Group focuses on the India Equity Market and with its well-researched team, working on taking long positions in public listed Equities and short term trading on the stock market.
- Agriculture: Started Agriculture trading business in 2001 and 5 years down the line, Mr Nitesh Shetty with an idea to create Corporate Agricultural Company focusing on the entire back-end of the food business, headquartered at New Delhi, India.
- Media: 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.
- Hotels: In the year 2008, he envisioned the top 5-star hotel in the city of Bangalore with the shortfall of hotel rooms. With that, he diversified into the hospitality space.
Citigroup Property Investors earmarked an investment of $30 million in Nitesh Estates to develop the Ritz Carlton Hotel in the heart of Bangalore city. The bid was won over some of the biggest developers in the country for a 267-room top-end luxury hotel with an investment of over US$ 125 million.
Nitesh Shetty started venturing into different sectors like Waste Water Management, Vacation Rentals and Stock Photography.
Awards and Recognitions
Nitesh Shetty wins the title of Asia’s Greatest Brand & Leader 2016
Industry associations and affiliations
Confederation of Indian Industry (CII)
Federation of Indian Commerce and Industry (FICI)