Highly accomplished finance professional (CA and CWA) having over 28 years of experience spanning across industries including start-ups, hotels, logistics, real estate, construction, telecom, and healthcare. Worked in various functional domains like corporate finance, fundraise, controls and compliances, mergers and acquisitions, operations, new openings, asset management, project funding, audits, formulating and implementing policies and processes. Decisive leader recognized for effective collaboration with management, colleagues, vendors, and staff.Skilled in designing and implementing the Delegation of Authority (DOA), Standard Operating Procedures (SOPs), Contract negotiations and closure, MIS reporting and KPI framework, Budgeting, and Forecasting for the organization.
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Chief Financial OfficerPidge May 2020 - PresentGurgaon, Delhi Ncr, In• Collaborated with the company Founder to guide Pidge through its planned growth initiatives and profitability• Developed and improved business processes and increased financial and operational efficiency, brought in transparency in reporting and compliances and identified cost-saving parameters• Regularly consulted with management to review, update, and establish risk management standards• Anticipated cost overrun risks and put in place proper controls and course correction measures• Slashed procurement costs by 30% by introducing competitive bidding• Effectively manage relationships with F&A service providers such as auditors, banks, treasury management groups, investment bankers, and insurance agents• Successfully closed first round of fundraising of USD 3 million -
Director Of FinanceLvyue Group Feb 2018 - Apr 2020北京, 北京, Cn• Rolled out Internal Control Framework (ICF) to ensure compliances through checks and balances• Implemented Standard Operating Procedures (SOPs) to adhere to internal control measures• Raised ECB of USD 5 million• Ensured 100% compliance to the regulatory framework• Streamlined purchases by introducing value-based PO and approval process• Drove Annual Operating plans and Business plans to maximize profits• Presented investment evaluation studies and reports to maximize ROCE and IRR• Played cross-functional role to improve work efficiencies -
Cfo And DirectorPremier Inn India (Whitbread Group Plc Uk) Feb 2007 - Dec 2017• Supervised daily accounting, Analysed the reasons for P&L variances, and implemented remedial actions in discussion with hotel GMs• Reviewed and submitted weekly KPI reports and monthly MIS pack with forward-looking commentary to stakeholders and investors • Uplifted RevPAR 18% YOY by introducing dynamic room pricing and capping OTA and corporate business to maximize returns, achieved CAGR 15% LFL• Delivered GOP @ 48% and EBITDA @ 37% by driving operating margins of Room and F&B divisions• Maximised asset value, delivering ROCE @ 20%, IRR pre-tax @ 14% and IRR post-tax @ 11.5% through operational excellence/profitability• Raised funds of Rs. 300 crores towards project construction• Played a key role in the due diligence process while checking and clearing project bills and payments • Streamlined project and operational purchases by introducing a value-based PO and Invoice approval process• Slashed hotel build costs by 20% by negotiating pricing and fees while ensuring the continuation of brand standards• Saved import duty by 25% points through EPCG benefit• Successfully closed out contractual obligations post project completion within budgets with zero cost overrun• Devised project tracker document highlighting the contract details with itemized quantities and budgets, awarded contract values, payments made, and remaining budget• Presented monthly project report to the management with cost and time variance analysis• Documented and implemented RICE (Risk Assessment Internal Control Evaluation) and SOP processes • Achieved 100% compliance in audits and internal control checks by Deloitte and E&Y
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Sr. Manager – Finance & AccountsBharti Airtel Limited May 2005 - Jan 2007Gurgaon, Haryana, In• Documented process control measures for Sarbanes-Oxley Act (SOX) compliance• Analysed monthly flash and forecast reports • Audit finalization – internal and statutory with PWC and E&Y• Completed 6-sigma projects -
Sr. Manager – Finance & AccountsEscorts Heart Institute And Research Centre Limited Jan 2003 - Apr 2005• Prepared and presented project budgets for upcoming hospital projects• Raised debt of Rs. 800 crores towards project construction and equipment finance• Devised checks and balances on project spends
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Manager – Finance, Mis & Erp Functional ConsultantJaiprakash Industries Limited Jul 2001 - Dec 2002In• Successful development, implementation, and training of ERP software for Accounts, Stores, MIS, and Payroll• Inter-site reconciliation of accounts -
Manager – FinanceMicrowave Communications Limited Jul 1995 - Jun 2001• Supervised day to day accounting, MIS reports, and inventory management
Rakesh Garg Education Details
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The Institute Of Chartered Accountants Of IndiaChartered Accountant -
Institute Of Cost Accountants Of IndiaCost Accountant -
St. Xaviers College CalcuttaBachelor Of Commerce (B.Com.)
Frequently Asked Questions about Rakesh Garg
What company does Rakesh Garg work for?
Rakesh Garg works for Pidge
What is Rakesh Garg's role at the current company?
Rakesh Garg's current role is Finance professional.
What schools did Rakesh Garg attend?
Rakesh Garg attended The Institute Of Chartered Accountants Of India, Institute Of Cost Accountants Of India, St. Xaviers College Calcutta.
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