Nitesh Estates Ropes in New CEO and CFO

/ -- Rakesh Singh appointed as Chief Executive Officer Kamal Daluka appointed as Chief Financial Officer Nitesh Estates, Bengaluru-based commercial real estate player, has wrung in top managerial changes, inducting new CEO (Chief Executive Officer) and Chief Finance Officer (CFO) as part of its strategy to shore up its operations.

Rakesh Singh has taken over as the Chief Executive Officer (CEO) while Kamal Daluka has been appointed as the Chief Financial Officer (CFO) with both bringing in vast amount of experience in their respective areas of operations.

Rakesh Singh is a Bachelor of Technology from IIT-Delhi and holder of Post Graduate Diploma in Business Management from XLRI School of Business Management & Human Resources, Jamshedpur. He brings diversified experience of nearly three decades in many sectors like telecom, healthcare and consumer durables. He was formerly a COO at Manipal Health Enterprises and Senior Vice President at Reliance Jio and was a co-founder and Director of CIIQ Healthcare Catalysts Pvt Ltd.

Rakesh is proficient in running large, multi-geography P&L roles and vastly experienced across an array of functions such as sales & marketing, consumer service, budget planning and expansion strategies. He will be responsible for the day-to-day management of the company.

Kamal Daluka is a Chartered Accountant & Company Secretary with more than two decades of experience in manufacturing, trading, real estate and infrastructure project, education and other industries. He has worked as CFO and Head of Finance with knowledge of global and Indian best practices for more than 12 years.

Nitesh Estates is focussed on restructuring its operations by reducing debt and completely focus on the development of commercial real estate. It has already retired more than Rs 450 crore of debt in the last 6-8 weeks and has plans to further reduce debt in the coming weeks.

The company has also promoted Pradeep Narayan, an MBA from IIM Ahmedabad as Executive Vice President-operations and he will work with the new CEO on the day-to-day management.