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Building on your passion: how this 36-year-old went from being an investment banker to a prime real estate developer

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Backed by marquee investors such as Mohandas Pai and Ranjan Pai, Mayank Ruia is building one of the most design-centred luxury housing projects in Bengaluru.

It was mid-2015 and 36-year-old Mayank Ruia was putting the finishing touches to the final plans for one of the largest residential towers in Bengaluru. One Bangalore West, located in the western suburb of Rajajinagar and spread across 17 acres, had caught the eye of many. Investors Mohandas Pai, Ranjan Pai and Abhay Jain were among them.

The three were so impressed with the project’s design and quality that they recommended it to friends, who, in turn, ended up buying properties in the project.

When the three investors first met Mayank, he was Group Director at Phoenix Mills' Residential Business. In him, they found a man brimming with ideas and aspiring to become an entrepreneur. His five-year stint with Phoenix Mills turned him from an accidental builder to an experienced real estate leader.

“I started as an I-Banker and worked for eight years before I became a builder,” says Mayank Ruia, CEO of MAIA Estates LLP.

Mayank Ruia of Maia Estates.

The early days

One cannot become a real estate entrepreneur overnight anywhere in the world, let alone in India. Back in 2003, when Mayank was an investment banker, and helped raise monies for large companies in the US, he never thought he would get in to his family’s real estate business. His cousins – his family owns Phoenix Mills in Mumbai’s Lower Parel area – were all in the construction business, building malls and apartment buildings.

In fact, even when Mayank returned to India after nine years in the US, he joined private equity firm Everstone Capital. As luck would have it, Mayank began his foray into........

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