About Progress Software Solutions India Private Limited
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Progress Software Solutions India Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Savvion Inc.. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 19 August 1998 and has been in existence for over 28 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U72100MH1998PTC116281. The company has 2 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹25 Lakh and a paid-up capital of ₹20.01 Lakh. It is led by directors including Domenic Lococo and Anthony Alfred Folger.
Its last annual general meeting (AGM) was held on 19 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Of10 Prudential Ground Floor Hiranandani Gardens Powai, Mumbai, Maharashtra, India – 400076.
As per the financials filed for FY 2025, the company reported a revenue of ₹12,770, a decline of 24% compared to the previous year. For the same year it recorded a net loss of ₹27.72 Lakh and EBITDA of -₹27.72 Lakh. Revenue has declined at a compounded annual rate (CAGR) of 10% over three years and 26% over five years.
Court records list 3 cases involving the company, including 3 filed by the company.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website progress.com.
Company details
Contact details
Progress Software Solutions India Private Limited's registered office is in Mumbai, Maharashtra. Its website is progress.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressOf10 Prudential Ground Floor Hiranandani Gardens Powai, Mumbai, Maharashtra, India – 400076
- IndustryInformation Technology, Application Development & Software Solutions, Computer Hardware Manufacturing & Retail
To see the full contact details of Progress Software Solutions India 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
Financials of Progress Software Solutions India Private Limited
FY 2025 filings availableProgress Software Solutions India Private Limited reported revenue of ₹12,770 (down 24% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 26% over five years, including a 24% fall in the latest year. EBITDA fell 185% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹27.72 Lakh | ||||
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| Net Profit (PAT) | -₹27.72 Lakh | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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To see the full financial statements and ratios of Progress Software Solutions India Private Limited, buy the company report.
Board of directors of Progress Software Solutions India Private Limited
Progress Software Solutions India has 3 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Domenic Lococo | Director | 28 Jun 2013 | 13 Years 3 Months | Current |
| Anthony Alfred Folger Also directs: Progress Software Development Private Limited | Director | 11 Oct 2022 | 4 Years 0 Months | Current |
| Chandra Sekhar Cheruku Also directs: Progress Software Development Private Limited | Director | 22 Aug 2023 | 3 Years 2 Months | Current |
Peer comparison
Progress Software Solutions India Private Limited is compared with the 10 companies closest to it by revenue in the Information Technology industry (Application Development, Computer Hardware), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Betazen Infotech Private Limited | ₹13,221 (FY 2024) | Midnapore, West Bengal, India | ||||
| Kerdos Infrasoft Private Limited | ₹13,130 (FY 2025) | Bangalore, Karnataka, India | ||||
| 135 Tech Labs Private Limited | ₹12,980 (FY 2024) | 30.0% | Hyderabad, Telangana, India | |||
| Ameba Softwares Private Limited | ₹12,809 (FY 2025) | -41.0% | Mohali, Punjab, India | |||
| Toe Networks India Private Limited | ₹12,780 (FY 2025) | -100.0% | Hyderabad, Telangana, India | |||
| Progress Software Solutions India Private Limitedthis company | ₹12,770 (FY 2025) | -₹27.72 Lakh | -24.0% | Mumbai, Maharashtra, India | ||
| Ceipal Solutions Private Limited | ₹12,678 (FY 2024) | 18.0% | Hyderabad, Telangana, India | |||
| Shallu Technologies Private Limited | ₹12,600 (FY 2023) | -30.0% | Chandigarh, India | |||
| Bilz Information & Technology Services Private Limited | ₹12,579 (FY 2018) | -97.0% | Bangalore, Karnataka, India | |||
| Launchship Technology Solutions Private Limited | ₹12,528 (FY 2025) | 11.0% | Hyderabad, Telangana, India | |||
| Orniz Technologies Private Limited | ₹12,500 (FY 2025) | 92.0% | Thiruvananthapuram, Kerala, India |
To see the full peer comparison of Progress Software Solutions India Private Limited, buy the company report.
Auditor
Progress Software Solutions India Private Limited is audited by MOHAN AND NARAYAN for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MOHAN AND NARAYAN | FY 2023 | 002093S |
Shareholding
The shareholding of Progress Software Solutions India Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Progress Software Solutions India Private Limited, buy the company report.
Legal cases
Progress Software Solutions India Private Limited has 3 court cases on record: 3 filed by Progress Software Solutions India. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLT | 3 | 0 | 0 |
Cases on record (1 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Mumbai | Company petition | Filed by the company | Disposed |
To see the full case history of Progress Software Solutions India Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Progress Software Solutions India Private Limited has 2 MSME Form 1 returns on record for the period ending Sep 2019, listing 6 overdue payments to 1 micro and small supplier. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Workof10 Workspace Solutions LLP |
To see the full MSME payment records of Progress Software Solutions India Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Progress Software Solutions India Private Limited has 1 active EPFO establishment as of Apr 06, 2024.
GST
Progress Software Solutions India has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Progress Software Solutions India Private Limited, buy the company report.
Recent activity
Progress Software Solutions India Private Limited has 17 board changes on record since 1998: 10 appointments and 7 cessations. The latest: Chandra Sekhar Cheruku was appointed as Director on 22 Aug 2023.
8 earlier events are in the company report.
News
Frequently asked questions
Progress Software Solutions India is an active private limited company based in Mumbai, Maharashtra, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 19 August 1998 (28+ years old) and is registered under CIN U72100MH1998PTC116281.
Progress Software Solutions India has 3 current directors:
- Domenic Lococo - Director
- Anthony Alfred Folger - Director
- Chandra Sekhar Cheruku - Director
The latest financial statements of Progress Software Solutions India on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 19 September 2025. Year-wise statements from 2015 are in the company report.
No. Progress Software Solutions India has 2 GST registrations on record and all of them are cancelled or inactive.
The CIN (Corporate Identification Number) of Progress Software Solutions India is U72100MH1998PTC116281. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progress Software Solutions India has 3 court cases on record: 3 filed by the company.
Progress Software Solutions India was incorporated on 19 August 1998, making it 28+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Progress Software Solutions India by revenue are Betazen Infotech Private Limited, Kerdos Infrasoft Private Limited, 135 Tech Labs Private Limited, Ameba Softwares Private Limited, Toe Networks India Private Limited and 5 more, all in the Information Technology industry (Application Development, Computer Hardware).
Chandra Sekhar Cheruku was appointed as Director on 22 Aug 2023. Rakesh Devasish Jena ceased to be Director on 22 Aug 2023. Stephen Howard Faberman ceased to be Director on 12 Oct 2022. Progress Software Solutions India has 17 board changes on record in total.
Progress Software Solutions India has 2 MSME Form 1 returns on record for the period ending Sep 2019, listing 6 overdue payments to 1 micro and small supplier. The latest return was filed on 31 Oct 2019.
Progress Software Solutions India can be reached through the website progress.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Progress Software Solutions India is at Of10 Prudential Ground Floor Hiranandani Gardens Powai, Mumbai, Maharashtra, India – 400076.