India's Richest People 2026 edition · 1 director · Source: Hurun India
- #338 Rahul Chandrakant Kirloskar ₹11,100 Cr
Revenue · FY 2025
₹5.18 Cr
▼ 98% YoY
Net loss · FY 2025
₹1.89 Cr
Net margin -36.5%
EBITDA · FY 2025
₹2.71 Cr
EBITDA margin 52.3%
Authorised capital
₹115 Cr
Registered with MCA
Paid-up capital
₹35.23 Cr
Issued & subscribed
Open charges
₹1,150 Cr
Satisfied ₹120 Cr
Company age
6 yrs
Est. 2020
Employees · EPFO
15
Provident fund records
About Avante Spaces Limited
Data last updated:
Avante Spaces Limited is a public limited company based in Pune, Maharashtra, India, a subsidiary of Kirloskar Industries Limited. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 17 July 2020 and has been in existence for over 6 years.
Its director Rahul Chandrakant Kirloskar is #338 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Pune, under CIN U45202PN2020PLC192070. Its GSTIN is 27AACCW6846R1ZD (Maharashtra).
The company has an authorised share capital of ₹115 Cr and a paid-up capital of ₹35.23 Cr. It was formerly known as Wellness Space Developers Private Limited and Wellness Space Developers Limited. It is led by directors including Swati Shivanand Salgaocar and Tejas Padmanabh Deshpande.
Its last annual general meeting (AGM) was held on 17 June 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Pune, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹5.18 Cr, a decline of 98% compared to the previous year. For the same year it recorded a net loss of ₹1.89 Cr (net margin -36.5%) and EBITDA of ₹2.71 Cr (EBITDA margin 52.3%). Revenue has grown at a compounded annual rate (CAGR) of 66% over three years.
The company has about 15 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Kirloskar Industries. As per MCA filings, the company has open charges of ₹1,150 Cr and satisfied charges of ₹120 Cr on record. Court records list 1 case involving the company, including 1 filed by the company. The company has 1 deal on record (1 debt financing), with disclosed funding of ₹25 Cr; the latest was in September 2023.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website kirloskarindustries.com.
Company details
CIN U45202PN2020PLC192070
Registration Number 192070
Incorporation Date 17 July 2020
ROC Pune
Listing Status Unlisted
Company Status Active
Date of Last AGM 17 June 2025
Date of Balance Sheet 31 March 2025
Parent Company Kirloskar Industries Limited
Compliance Status Active Compliant
Name history
Avante Spaces has undergone 2 name changes throughout its history. The company was previously known as Wellness Space Developers Private Limited, and Wellness Space Developers Limited. The current legal name is Avante Spaces Limited.
| Company Name | Status |
|---|---|
| Avante Spaces Limited | Current |
| Wellness Space Developers Private Limited | Previous |
| Wellness Space Developers Limited | Previous |
CIN history
Avante Spaces has one previous CIN (Corporate Identification Number): U45202PN2020PTC192070. The current CIN is U45202PN2020PLC192070, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45202PN2020PLC192070 | Current |
| U45202PN2020PTC192070 | Previous |
Key People
Deepak Porayath Ceo Swati Shivanand Salgaocar Director Tejas Padmanabh Deshpande Director Recognitions & Rankings of Avante Spaces
Contact details
Avante Spaces Limited's registered office is in Pune, Maharashtra. Its website is kirloskarindustries.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressLevel 14 One Avante, Karve Road Kothrud, Pune, Maharashtra, India – 411038
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Avante Spaces Limited, buy the company report.
Comprehensive company report
Avante Spaces Limited - one report that includes everything
- 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
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Brands
Avante Spaces operates one associated brand: Kirloskar Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Kirloskar Industries is engaged in wind energy generation solutions. | kirloskarindustries.com |
Business activity
The main business activity of Avante Spaces is construction. In detail, this covers construction of buildings.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | 41 | Construction of buildings |
To see the full business activity and turnover split of Avante Spaces Limited, buy the company report.
Financials of Avante Spaces Limited
FY 2025 filings availableAvante Spaces Limited reported revenue of ₹5.18 Cr (down 98% YoY) for FY 2025.
Revenue · FY 2025
₹5.18 Cr ▼ 98%
Net loss · FY 2025
₹1.89 Cr margin -36.5%
EBITDA · FY 2025
₹2.71 Cr margin 52.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 98%
3 years · compounded
▲ 66%
EBITDA CAGR growth
1 year
▼ 97%
3 years · compounded
▲ 41%
Revenue fell 98% in the latest year, but over three years it has grown at a compounded annual rate (CAGR) of 66%. EBITDA fell 97% 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 | ₹2.71 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹1.89 Cr | ||||
| Balance Sheet | |||||
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| Reserves and Surplus | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 52.3% | ||||
| Net Profit Margin | -36.5% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
| Payable Days | |||||
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| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Avante Spaces Limited, buy the company report.
Board of directors and KMP of Avante Spaces Limited
Avante Spaces Limited currently reports 5 directors and 1 key managerial person. 6 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Swati Shivanand Salgaocar Also directs: Pyramid Developers LLP, Mahadhan Real Estates LLP, Katyayani Structural Designs LLP and 5 more | Director | 08 Mar 2021 | 5 Years 7 Months | Current |
| Tejas Padmanabh Deshpande Also directs: Kirloskar Pneumatic Company Limited, Futurecraft Techlab LLP, Futurecraft Devops Private Limited and 1 more | Director | 19 Dec 2020 | 5 Years 10 Months | Current |
| Satish Jamdar Also directs: Kirloskar Industries Limited, Zengardens Workspace LLP, Vintegra Brand Technologies Private Limited and 1 more | Director | 19 Dec 2020 | 5 Years 10 Months | Current |
| Akshay Sahni Also directs: Koel Fluid Dynamics Private Limited | Director | 25 Apr 2025 | 1 Years 6 Months | Current |
| Rahul Chandrakant Kirloskar Also directs: Snow Leopard Global Technology LLP, Snow Leopard Momentum-Ii LLP, Rykenthorus Ventures LLP and 5 more | Director | 27 Jan 2025 | 1 Years 9 Months | Current |
| Deepak Porayath | Ceo | 21 Feb 2025 | 1 Years 8 Months | Current |
Auditor
Avante Spaces Limited is audited by G. D. Apte & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| G. D. Apte & Co. | FY 2023 | 100515W |
Shareholding
The shareholding of Avante Spaces Limited is on record for 3 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Avante Spaces Limited, buy the company report.
Charges & borrowings
Open charges
₹1,150 Cr
Satisfied charges
₹120 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Jan 2026 | 101232525 | Others | ₹1,150 Cr | Open | |
| 30 Jun 2022 | 100587529 | Others | ₹120 Cr | Satisfied |
To see the full charge records of Avante Spaces Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Avante Spaces Limited has 1 deal on record (1 debt financing), with disclosed funding of ₹25 Cr; the latest was in September 2023.
Total deals
1
Debt financing
1
Disclosed funding
₹25 Cr
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2023 | Debt financing | ₹25 Cr |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Avante Spaces Limited has 1 court case on record: 1 filed by Avante Spaces. All case is disposed.
Total cases
1
Filed by the company
1
Disposed
1
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Writ petition | Filed by the company against Collector and Competent Authority and 2 Ors and 2 others | Disposed |
To see the full case history of Avante Spaces 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
No delayed payments to MSME suppliers are on our record for Avante Spaces Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Avante Spaces Limited has a workforce of 15 employees on its EPFO records as of Apr 04, 2024, across 1 active EPFO establishment.
Employee count
15
Active EPFO establishments
1
Employee growth
25%
GST
Avante Spaces has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCW6846R1ZD | Maharashtra | Active | 10 Dec 2020 |
To see the full GST registrations and return filing status of Avante Spaces Limited, buy the company report.
Recent activity
Avante Spaces Limited has 16 board changes on record since 2020: 11 appointments and 5 cessations. The latest: Anandh Ganeshlal Baheti ceased to be CFO on 04 Nov 2025.
Charges
A charge with Others amounted to Rs. 1,150.00 Cr with Charge ID 101232525 was registered on 23 Jan 2026.
Ceased
Anandh Ganeshlal Baheti ceased to be CFO.
AGM
Avante Spaces Limited last Annual general meeting of members was held on 17 Jun 2025 as per latest MCA records.
Appointed
Akshay Sahni was appointed as Director.
Ceased
Gauri Atul Kirloskar ceased to be Director.
Filing
Avante Spaces Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Pune.
Appointed
Deepak Porayath was appointed as CEO.
Appointed
Rahul Chandrakant Kirloskar was appointed as Director.
Ceased
Vinesh Kumar Jairath ceased to be Managing Director.
Appointed
Anandh Ganeshlal Baheti was appointed as CFO.
Charges
A charge registered on 30 Jun 2022 via Charge ID 100587529 with Others was fully satisfied on 28 Mar 2023.
Charges
A charge with Others amounted to Rs. 120.00 Cr with Charge ID 100587529 was registered on 30 Jun 2022.
10 earlier events are in the company report.
News
Frequently asked questions
Avante Spaces is an active public limited company based in Pune, Maharashtra, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 17 July 2020 (6+ years old) and is registered under CIN U45202PN2020PLC192070.
Avante Spaces has 6 current directors and KMP:
- Swati Shivanand Salgaocar - Director
- Tejas Padmanabh Deshpande - Director
- Satish Jamdar - Director
- Akshay Sahni - Director
- Rahul Chandrakant Kirloskar - Director
- Deepak Porayath - Ceo
The latest financial statements of Avante Spaces on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 17 June 2025. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Avante Spaces is 27AACCW6846R1ZD, registered in Maharashtra.
The CIN (Corporate Identification Number) of Avante Spaces is U45202PN2020PLC192070. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Avante Spaces has 1 court case on record: 1 filed by the company.
Avante Spaces was incorporated on 17 July 2020, making it 6+ years old. It is registered with the Registrar of Companies, Pune.
Avante Spaces has 1 deal on record (1 debt financing), with disclosed funding of ₹25 Cr; the latest was in September 2023.
Anandh Ganeshlal Baheti ceased to be CFO on 04 Nov 2025. Akshay Sahni was appointed as Director on 25 Apr 2025. Gauri Atul Kirloskar ceased to be Director on 18 Apr 2025. Avante Spaces has 16 board changes on record in total.
Avante Spaces can be reached through the website kirloskarindustries.com. Its registered office is in Pune, Maharashtra, India.
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