Runwal appoints Rakesh Setia as CEO for its luxury segment

MUMBAI: Runwal Enterprises is not leaving its luxury play to chance. The Mumbai-based property developer has appointed Rakesh Setia as chief executive officer for its luxury segment, handing him oversight of sales, marketing and customer relationship management. He will be based at the company’s corporate head office at Sion.

Setia arrives with more than three decades of hard-won experience across business operations, strategy, profit-and-loss management and sales. His CV spans some of the biggest global and Indian brands in the business, including Kodak, Reebok, Luxor, Hutchison, Idea Cellular and Vodafone Idea Limited, where he navigated diverse markets across India, often parachuting in during periods of rapid scaling or strategic recalibration.

His most recent posting was at the Mumbai-based Rustomjee Group, where he served as president for sales, marketing and CRM.

For Runwal, a developer with serious ambitions in the premium residential space, the hire signals intent. Luxury real estate in India is booming, competition is fierce and the margin for error is thin.

Setia has spent thirty years learning exactly where those errors are made. Runwal is clearly betting he will not repeat them.