Kumar Ajay Singh
CFO
Kumar Ajay Singh, who brings a wealth of experience and a strategic perspective to the Shastri Group of Institutes (SGI), epitomizes what a CFO should be in this Institutes. Ajay began his career at SPL Industries and a C A R R Deval and Co. firm before moving on to Neelachal Engineering Company, where he successfully created an MIS report on raw material usage in 1999 and resolved accounting issues for Telco Company in 2001.
He was also instrumental in implementing the CSR Portal. Since joining the Shastri Group of Institutes in 2003, Ajay has been a dedicated employee and has been recognized as the Best Employee in 2007, 2016, and 2022. In an in-depth conversation with CEO Insights magazine, Ajay shares with us his professional journey, leadership strategies, and much more. Let’s read about it.
Could you tell us about the Shastri Group of Institutes? What are the responsibilities you shoulder as the Chief Finance Officer of the group?
Under the aegis of the Pandit Shivdutta Shastri Educational Foundation, the Shastri Group of Institutes offers a wide range of academic programs from KG to PG. These include schools providing SSC Board and CBSE Board education, Junior College, and niche courses in Aviation such as Aircraft Maintenance Engineering with B.Sc. Aeronautics, approved by DGCA and affiliated with Mumbai University.
The group also offers highly demanding courses like B.Tech in Aerospace Engineering,
B.Tech in Aeronautical Engineering, B.Tech in Avionics Engineering, M.Tech in Aerospace Engineering, B. Tech + M. Tech Defence Technology and numerous other aviation and space science-focused programs.
Short-term programs such as the Diploma in Cabin Crew/Airhostess, Diploma in Aviation Management, Diploma in Airport and Ground Staff Training, Diploma in Air Fare & Air Ticketing Management, and Advanced Certificate Course in Aviation Management are also available. Additionally, the group offers an Undergraduate Program in B.Sc.
Aviation Hospitality & Travel Tourism, as well as MBA and MCA programs affiliated with Savitribai Phule Pune University. As the Chief Finance Officer, I am responsible for managing the group's finance-related operations. My journey began in 1996 as an Account Assistant, and I later advanced to the role of Accountant. Currently, as CFO, I oversee strategic planning and ensure financial stability for our diverse range of educational offerings.
During financial crises or dilemmas, how did you implement solutions for the Shastri Group of Institutes, and what were the outcomes?
All institutes had to close because of the COVID-19 epidemic in 2020–2021, thus SGI had to switch to online instruction. The school were in financial trouble because fee and other receivables stopped, the parents too had a difficult time.
Despite these unprecedented challenges, the group complied with all statutory compliance in terms of applicable tax payments to the government even if it meant stopping development work. We were able to come out of the circumstance due to our ethical behavior and this eventually made the institution more robust.
You have been working in the financial domain since 2003. How has your journey so far been as a Chief Finance Officer?
Serving as the Chief Finance Officer since 2003 at Shastri Group of Institutes has been a deeply gratifying experience. Our organization operates more like a family than a group of colleagues, owing to a culture meticulously cultivated over time.
This culture transforms our complex organizational structure into a supportive community. Our Honourable Chairman, Anshul Sharma Sir, has been a guiding force, consistently supporting everyone’s professional growth.
Short-term programs such as the Diploma in Cabin Crew/Airhostess, Diploma in Aviation Management, Diploma in Airport and Ground Staff Training, Diploma in Air Fare & Air Ticketing Management, and Advanced Certificate Course in Aviation Management are also available. Additionally, the group offers an Undergraduate Program in B.Sc.
Aviation Hospitality & Travel Tourism, as well as MBA and MCA programs affiliated with Savitribai Phule Pune University. As the Chief Finance Officer, I am responsible for managing the group's finance-related operations. My journey began in 1996 as an Account Assistant, and I later advanced to the role of Accountant. Currently, as CFO, I oversee strategic planning and ensure financial stability for our diverse range of educational offerings.
During financial crises or dilemmas, how did you implement solutions for the Shastri Group of Institutes, and what were the outcomes?
All institutes had to close because of the COVID-19 epidemic in 2020–2021, thus SGI had to switch to online instruction. The school were in financial trouble because fee and other receivables stopped, the parents too had a difficult time.
Despite these unprecedented challenges, the group complied with all statutory compliance in terms of applicable tax payments to the government even if it meant stopping development work. We were able to come out of the circumstance due to our ethical behavior and this eventually made the institution more robust.
You have been working in the financial domain since 2003. How has your journey so far been as a Chief Finance Officer?
Serving as the Chief Finance Officer since 2003 at Shastri Group of Institutes has been a deeply gratifying experience. Our organization operates more like a family than a group of colleagues, owing to a culture meticulously cultivated over time.
This culture transforms our complex organizational structure into a supportive community. Our Honourable Chairman, Anshul Sharma Sir, has been a guiding force, consistently supporting everyone’s professional growth.
We have established a strong sense of community that extends from top leadership to every team member.
Our emphasis on social and cultural celebrations, such as birthdays and holidays like Ganpati Puja, Dahi Handi, and Dandiya, strengthens our bonds. Every member supports one another through personal challenges, providing a sense of security and worth. Being part of the Shastri family has made my experience rewarding, thanks to our shared dedication to our responsibilities and the organization.
What is the financial roadmap that you have planned for the Shastri Group of Institutes?
As the Chief Finance Officer and a trustee of the Shastri Group of Institutes, my financial strategy is centered on growth and sustainability. We strive to minimize debt and maximize resource utilization, avoiding reliance on mortgages or equity. Our approach prioritizes employee well-being and strict tax compliance. I am committed to supporting the organization and promoting long-term stability, using the trust placed in me to steer the institute toward continued success.
What advice would you give to the upcoming financial leaders in the industry?
Focus on excelling in your current role rather than chasing titles; if you perform well, the titles will naturally follow. Grasp every opportunity to learn and remain open to acquiring new skills. When I started, I had little experience and learned everything on the job. I didn't push myself forcefully; instead, I allowed experience and growth to pave the way. I always followed my parents' and family's advice and received their constant support throughout my career. Always maintain a good balance between personal and professional life.
Therefore, my advice to aspiring financial leaders is to dedicate yourself to your work, seize every learning opportunity, and trust the process. Your hard work and perseverance will ultimately lead to success and accountability.
Kumar Ajay Singh, CFO, Shastri Group of Institutes
Ajay Singh hails from Chapra district, Bihar, where he completed his basic education. In 1996, he moved to Pune for further studies and work, earning a PGDM and M.B.S. from Pune University. Ajay began his career with a CA firm and SPL Industries, followed by Neelachal Engineering And Company. Alongside his education, Ajay opened the National Coaching Center and National Medical Center and rose to the level of Senior Under Officer in the NCC 1/7 Bihar Bn.
Our emphasis on social and cultural celebrations, such as birthdays and holidays like Ganpati Puja, Dahi Handi, and Dandiya, strengthens our bonds. Every member supports one another through personal challenges, providing a sense of security and worth. Being part of the Shastri family has made my experience rewarding, thanks to our shared dedication to our responsibilities and the organization.
What is the financial roadmap that you have planned for the Shastri Group of Institutes?
As the Chief Finance Officer and a trustee of the Shastri Group of Institutes, my financial strategy is centered on growth and sustainability. We strive to minimize debt and maximize resource utilization, avoiding reliance on mortgages or equity. Our approach prioritizes employee well-being and strict tax compliance. I am committed to supporting the organization and promoting long-term stability, using the trust placed in me to steer the institute toward continued success.
What advice would you give to the upcoming financial leaders in the industry?
Focus on excelling in your current role rather than chasing titles; if you perform well, the titles will naturally follow. Grasp every opportunity to learn and remain open to acquiring new skills. When I started, I had little experience and learned everything on the job. I didn't push myself forcefully; instead, I allowed experience and growth to pave the way. I always followed my parents' and family's advice and received their constant support throughout my career. Always maintain a good balance between personal and professional life.
Therefore, my advice to aspiring financial leaders is to dedicate yourself to your work, seize every learning opportunity, and trust the process. Your hard work and perseverance will ultimately lead to success and accountability.
Kumar Ajay Singh, CFO, Shastri Group of Institutes
Ajay Singh hails from Chapra district, Bihar, where he completed his basic education. In 1996, he moved to Pune for further studies and work, earning a PGDM and M.B.S. from Pune University. Ajay began his career with a CA firm and SPL Industries, followed by Neelachal Engineering And Company. Alongside his education, Ajay opened the National Coaching Center and National Medical Center and rose to the level of Senior Under Officer in the NCC 1/7 Bihar Bn.