Achole Developers Private Limited
About Achole Developers Private Limited
Data last updated:
Achole Developers Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Vistra Itcl (India) Limited. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 18 January 2018 and has been in existence for over 8 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U70200MH2018PTC304389. Its GSTIN is 27AAQCA4561R1ZT (Maharashtra).
The company has an authorised share capital of ₹84.26 Cr and a paid-up capital of ₹83.47 Cr. It is led by directors including Neha Rushabh Shah and Karim Kasimali Merchant.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹50.41 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net loss of ₹12.29 Cr (net margin -24.4%) and EBITDA of ₹20.63 Cr (EBITDA margin 40.9%). Revenue has grown at a compounded annual rate (CAGR) of 59% over three years and 316% over five years.
The company has about 23 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹195.9 Cr and satisfied charges of ₹180.65 Cr on record. The company has 7 deals on record (4 debt financings, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹253.25 Cr; the latest was in October 2021. Its 10 peer companies in the Business Services industry (Mall Management) are compared by revenue, 5 larger and 5 smaller; the largest is Orion Property Management Services Limited.
The current compliance status is marked as compliant by the Registrar of Companies.
- EmailLocked
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- Registered AddressUnit No. 1611 – 12 16th Floor C Wing G Block One BKC Bandra Kurla Complex Bandra (E, Ast), Mumbai, Maharashtra, India – 400051
- IndustryReal Estate and Construction, Real Estate Builders & Developers
- 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
- One PDF report, delivered after checkout
Business Activity of Achole Developers Private Limited
The main business activity of Achole Developers is real estate. In detail, this covers real estate activities with own or leased property.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Achole Developers Private Limited FY 2025 filings available
Achole Developers Private Limited reported revenue of ₹50.41 Cr (up 8% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Achole Developers Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 316% over five years, including 8% growth in the latest year. EBITDA rose 7% 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 of Achole Developers Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| 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 | ₹20.63 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹12.29 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
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| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Achole Developers Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 40.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -24.4% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Achole Developers are in the company report.
Financial statements from FY 2018
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Achole Developers Private Limited
Achole Developers Private Limited is compared with the companies closest to it by revenue in the Business Services industry (Mall Management). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Orion Property Management Services Limited | •••• | •••• | •••• | •••• | 60 | Bangalore, Karnataka, India |
| Shivani Enclaves Pvt Ltd | •••• | •••• | •••• | •••• | - | Rajasthan, India |
| Nexus Udaipur Retail Private Limited | •••• | •••• | •••• | •••• | - | Bangalore, Karnataka, India |
| G. S. Malls Private Limited | •••• | •••• | •••• | •••• | - | Jammu, Jammu & Kashmir, India |
| Prestige Falcon Malls Private Limited | •••• | •••• | •••• | •••• | - | Bengaluru, Karnataka, India |
| Achole Developers Private Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Frontier Warehousing Limited | •••• | •••• | •••• | •••• | 47 | Kolkata, West Bengal, India |
| Indore Treasure Island Private Limited | •••• | •••• | •••• | •••• | 14 | Mumbai, Maharashtra, India |
| Aggrawal Shopping Mall Private Limited | •••• | •••• | •••• | •••• | 71 | Darbhanga, Bihar, India |
| B M Gupta Estates Private Limited | •••• | •••• | •••• | •••• | - | Rewari, Haryana, India |
| Starboard Hotels Private Limited | •••• | •••• | •••• | •••• | - | Mahalaxmi, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Achole Developers by revenue in the Business Services industry (Mall Management), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Achole Developers Private Limited
Achole Developers Private Limited is audited by B S R & CO LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| B S R & CO LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Achole Developers Private Limited
Achole Developers has 4 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Neha Rushabh Shah | Director | 18 Jan 2018 | 8 Years 8 Months | Current |
| Karim Kasimali Merchant Also directs: Reach Promoters Private Limited, Lake Shore India Management Private Limited, Lake Shore India Advisory Private Limited and 5 more | Nominee Director | 19 Feb 2021 | 5 Years 7 Months | Current |
| Koshtishwaran Iyer Also directs: Visapur Developers Private Limited, Salsette Developers Private Limited, Kukatpally Developers Private Limited and 4 more | Nominee Director | 19 Feb 2021 | 5 Years 7 Months | Current |
| Scott Scher Eisenberg | Nominee Director | 15 Jun 2018 | 8 Years 3 Months | Current |
Ownership and Shareholding of Achole Developers Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Achole Developers Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Jun 2024 | Idbi Trusteeship Services Limited | ₹195.9 Cr | Open |
| 20 Jan 2022 | Idbi Trusteeship Services Limited | ₹120 Cr | Satisfied |
| 06 Sep 2021 | Hdfc Bank Limited | ₹64.88 Lakh | Satisfied |
| 19 Jun 2018 | Others | ₹60 Cr | Satisfied |
Total charge records: 4 View all charges
Deals & Funding of Achole Developers Private Limited
Achole Developers Private Limited has 7 deals on record (4 debt financings, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹253.25 Cr; the latest was in October 2021.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2021 | Rights issue | ₹3.75 Cr | Investors: Lake Shore India Advisory |
| Jan 2020 | Debt financing | ₹64.85 Cr | Investors: Lake Shore India Advisory |
| Jul 2018 | Debt financing | ₹46.4 Cr | Investors: Lake Shore India Advisory |
| Jun 2018 | Debt financing | ₹32.6 Cr | Investors: an individual |
| Jun 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Horizon Investors LLP |
Full deal history
All 7 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Employees and EPFO Compliance at Achole Developers Private Limited
Achole Developers Private Limited has a workforce of 23 employees as of Apr 08, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Achole Developers Private Limited
Achole Developers Private Limited has 7 board changes on record since 2018: 4 appointments and 3 cessations. The latest: Darpan Deepak Shah ceased to be Director on 13 Mar 2024.
6 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Achole Developers Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Achole Developers Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Achole Developers Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Achole Developers Private Limited
Achole Developers has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAQCA4561R1ZT | Maharashtra | Active | 19 Jul 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Achole Developers Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Achole Developers Private Limited
Achole Developers is an active private limited company based in Mumbai, Maharashtra, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 18 January 2018 (8+ years old) and is registered under CIN U70200MH2018PTC304389.
Achole Developers reported revenue of ₹50.41 Cr for FY 2025 (up 8% YoY).
Achole Developers has 4 current directors:
- Neha Rushabh Shah - Director
- Karim Kasimali Merchant - Nominee Director
- Koshtishwaran Iyer - Nominee Director
- Scott Scher Eisenberg - Nominee Director
Achole Developers reported a net loss of ₹12.29 Cr (net margin -24.4%) and EBITDA of ₹20.63 Cr (EBITDA margin 40.9%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Achole Developers is 59% over three years and 316% over five years. In the latest year (FY 2025) revenue rose 8%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Achole Developers is 27AAQCA4561R1ZT, registered in Maharashtra.
The CIN (Corporate Identification Number) of Achole Developers is U70200MH2018PTC304389. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Achole Developers was incorporated on 18 January 2018, making it 8+ years old. It is registered with the Registrar of Companies, Mumbai.
Achole Developers has 7 deals on record (4 debt financings, 1 funding round, 1 secondary share transfer), with disclosed funding of ₹253.25 Cr; the latest was in October 2021.
The peers of Achole Developers by revenue are Orion Property Management Services Limited, Shivani Enclaves Pvt Ltd, Nexus Udaipur Retail Private Limited, G. S. Malls Private Limited, Prestige Falcon Malls Private Limited and 5 more, all in the Business Services industry (Mall Management).
Darpan Deepak Shah ceased to be Director on 13 Mar 2024. Karim Kasimali Merchant was appointed as Nominee Director on 19 Feb 2021. Koshtishwaran Iyer was appointed as Nominee Director on 19 Feb 2021. Achole Developers has 7 board changes on record in total.