About FNLK Development Private Limited
Data last updated:
FNLK Development Private Limited is a foreign private limited company based in Bangalore, Karnataka, India, a subsidiary of Baas Corporation. It operates in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 13 December 2022.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2022FTC168975. Its GSTIN is 29AAFCF3146G1ZN (Karnataka).
The company has an authorised share capital of ₹15 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors including Vladimir Lounegov (Whole-Time Director) and Javier Carlos Valverde (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹11.9 Cr, a growth of 19% compared to the previous year. For the same year it recorded a net profit of ₹47.13 Lakh (net margin 4%) and EBITDA of ₹72.49 Lakh (EBITDA margin 6.1%).
The company has about 35 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mbanq.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mbanq.com.
Company details
Contact details
FNLK Development Private Limited's registered office is in Bangalore, Karnataka. Its website is mbanq.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressNo.15 2nd Floor, Vasants Business Centre Queens Road, Bangalore, Karnataka, India – 560052
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of FNLK Development Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of FNLK Development is information and communication. In detail, this covers publishing of computer operating systems, system software, application software, games, etc..
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J2 | Publishing of computer operating systems, system software, application software, games, etc. |
To see the full business activity and turnover split of FNLK Development Private Limited, buy the company report.
Financials of FNLK Development Private Limited
FY 2025 filings availableFNLK Development Private Limited reported revenue of ₹11.9 Cr (up 19% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 19% in the latest year. EBITDA fell 4% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | |||
| Other Income | |||
| Total Revenue | |||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | ₹72.49 Lakh | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | ₹47.13 Lakh | ||
| Balance Sheet | |||
| Share Capital | |||
| Reserves and Surplus | |||
| Net Worth (Total Equity) | |||
| Long-term Borrowings | |||
| Short-term Borrowings | |||
| Trade Payables | |||
| Total Liabilities | |||
| Fixed Assets | |||
| Investments | |||
| Inventories | |||
| Trade Receivables | |||
| Cash and Bank Balance | |||
| Total Assets | |||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | 6.1% | ||
| Net Profit Margin | 4% | ||
| Return on Equity (ROE) | |||
| Return on Capital Employed (ROCE) | |||
| Return on Assets (ROA) | |||
| Liquidity and Debt | |||
| Current Ratio | |||
| Quick Ratio | |||
| Debt-to-Equity Ratio | |||
| Interest Coverage Ratio | |||
| Efficiency and Growth | |||
| Asset Turnover | |||
| Receivable Days | |||
| Payable Days | |||
| Inventory Days | |||
| Revenue Growth | |||
| Net Profit Growth | |||
To see the full financial statements and ratios of FNLK Development Private Limited, buy the company report.
Board of directors of FNLK Development Private Limited
FNLK Development has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vladimir Lounegov | Whole-Time Director | 13 Dec 2022 | 3 Years 10 Months | Current |
| Javier Carlos Valverde | Whole-Time Director | 16 Jan 2025 | 1 Years 9 Months | Current |
| Ramya Bodanahosahalli Narayanaswamy | Whole-Time Director | 29 May 2024 | 2 Years 4 Months | Current |
Peer comparison
FNLK Development Private Limited is compared with the 10 companies closest to it by revenue in the same principal business activity (publishing of computer operating systems, system software, application software, games, etc.), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Valor Innovations Private Limited | ₹11.94 Cr (FY 2025) | 48.0% | Mumbai, Maharashtra, India | |||
| Veracity Systems Surveillance Private Limited | ₹11.93 Cr (FY 2024) | 45.0% | Delhi, India | |||
| Relate Infotech Private Limited | ₹11.92 Cr (FY 2025) | 3.0% | Kolkata, West Bengal, India | |||
| Ie3 Innovations Private Limited | ₹11.92 Cr (FY 2025) | 12.0% | New Delhi, Delhi, India | |||
| Jupiter Software & Systems Private Limited | ₹11.92 Cr (FY 2025) | -3.0% | Jamshedpur, Jharkhand, India | |||
| FNLK Development Private Limitedthis company | ₹11.9 Cr (FY 2025) | ₹47.13 Lakh | 4% | 19.0% | 35 | Bangalore, Karnataka, India |
| Solulever India Private Limited | ₹11.89 Cr (FY 2024) | 46.0% | Noida, Uttar Pradesh, India | |||
| Startech Software Private Limited | ₹11.89 Cr (FY 2025) | 28.0% | Bhopal, Madhya Pradesh, India | |||
| Confianz Information Technologies Private Limited | ₹11.89 Cr (FY 2024) | 51.0% | Thiruvananthapuram, Kerala, India | |||
| Elegant Business Solutions Private Limited | ₹11.89 Cr (FY 2024) | -26.0% | New Delhi, Delhi, India | |||
| Perscitus Solutions Private Limited | ₹11.87 Cr (FY 2025) | 27.0% | Pune, Maharashtra, India |
To see the full peer comparison of FNLK Development Private Limited, buy the company report.
Auditor
FNLK Development Private Limited is audited by Kolathaya & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Kolathaya & Associates | FY 2023 | 11497S |
Shareholding
The shareholding of FNLK Development Private Limited is on record for FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Foreign institutional investors (FII) | |
| Public | |
| Others |
To see the full shareholding pattern of FNLK Development Private Limited, buy the company report.
Legal cases
No court or tribunal cases involving FNLK Development Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for FNLK Development Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
FNLK Development Private Limited has a workforce of 35 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
GST
FNLK Development has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAFCF3146G1ZN | Karnataka | Active | 30 Jun 2023 |
To see the full GST registrations and return filing status of FNLK Development Private Limited, buy the company report.
Recent activity
FNLK Development Private Limited has 5 board changes on record since 2022: 4 appointments and 1 cessation. The latest: Javier Carlos Valverde was appointed as Whole-Time Director on 16 Jan 2025.
News
Frequently asked questions
FNLK Development is an active foreign private limited company based in Bangalore, Karnataka, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 13 December 2022 (4+ years old) and is registered under CIN U72200KA2022FTC168975.
FNLK Development has 3 current directors:
- Vladimir Lounegov - Whole-Time Director
- Javier Carlos Valverde - Whole-Time Director
- Ramya Bodanahosahalli Narayanaswamy - Whole-Time Director
The latest financial statements of FNLK Development on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2023 are in the company report.
The GSTIN of FNLK Development is 29AAFCF3146G1ZN, registered in Karnataka.
The CIN (Corporate Identification Number) of FNLK Development is U72200KA2022FTC168975. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
FNLK Development was incorporated on 13 December 2022, making it 4+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of FNLK Development by revenue are Valor Innovations Private Limited, Veracity Systems Surveillance Private Limited, Relate Infotech Private Limited, Ie3 Innovations Private Limited, Jupiter Software & Systems Private Limited and 5 more, all in the same principal business activity (publishing of computer operating systems, system software, application software, games, etc.).
Javier Carlos Valverde was appointed as Whole-Time Director on 16 Jan 2025. Pramod Kumar Sharma ceased to be Whole-Time Director on 26 Jul 2024. Ramya Bodanahosahalli Narayanaswamy was appointed as Whole-Time Director on 29 May 2024. FNLK Development has 5 board changes on record in total.
FNLK Development can be reached through the website mbanq.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of FNLK Development is at No.15 2nd Floor, Vasants Business Centre Queens Road, Bangalore, Karnataka, India – 560052.
FNLK Development operates in the information technology industry, in the IT consulting and support services segment.