Thirani Projects

Kolkata, India Founded: 1983 • Age: 43 yrs Listed

Provider of term loans

Page last updated 17 Oct 2026

About Thirani Projects

Thirani Projects is a publicly listed company based in Kolkata (India) founded in 1983. Provider of term loans. Its chief executive, as recorded, is Utpal Dey. Its Indian entity Thirani Projects Ltd. reported revenue of ₹1.06 Cr. Thirani Projects offers products and services including Share Investments and Loan Provision. Its focus areas include Consumer and SME Loans, SME Loans and Term Loans. Similar companies include Kinara Capital, Profectus Capital and Vistaar Financial Services; 3 of its 3 listed similar companies have raised funding.

Company details

Thirani Projects provider of term loans, focusing on offering financial products and advice, consumer and sme loans, sme loans, and term loans. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets. It continues to evolve, meeting industry challenges with strategic approaches.

Headquarters Kolkata, India
Stage Public
Sectors
Financial Services
Email
••••••••
Phone
•••• ••••
Website thiraniprojects.com
Legal Name Thirani Projects Ltd

Operational Areas

Financial Services → Consumer and SME Loans

Key Metrics

Market Cap
₹5.86 Cr
TPROJECT · BSE
Share Price
₹2.79
-3.79% today
Revenue
₹0.90 Cr
FY 2012-13
EBITDA
₹0.19 Cr
Margin 21.1%
Net Profit
₹0.05 Cr
FY 2012-13
ROE
0.1%
ROCE 0.6%

Associated legal entities of Thirani Projects

Thirani Projects operates through Thirani Projects Ltd., a listed company (active). Its filings, financials, charges and directors are on the company page.

Legal entity	Status	Incorporated	Registered in	Revenue (FY 2026)	Employees	Directors	Company page
Thirani Projects Ltd. Listed CIN L45209WB1983PLC036538	Active	16 Jul 1983	Kolkata, West Bengal	₹1.1 Cr		7	View details

Products & Services of Thirani Projects

Thirani Projects offers a comprehensive portfolio of products and services, including Share Investments and Loan Provision.

Share Investments

Investment Service

Service for investing in quoted and unquoted shares.

Loan Provision

Financial Lending

Offering short-term and long-term loans to qualified borrowers.

Board of directors of Thirani Projects Ltd. (Thirani Projects)

Thirani Projects Ltd. is the primary company behind Thirani Projects. The board of Thirani Projects Ltd. currently have 6 directors; the longest-serving is Utpal Dey, appointed in 2018. 22 earlier directors have ceased.

Director	Designation	Appointed	Tenure	Entity
Utpal Dey DIN 06931935	Managing Director	14 Nov 2018	7 yrs 11 mo	Thirani Projects Ltd.
Pritika Choraria DIN 08752495	Director	03 Jun 2020	6 yrs 4 mo	Thirani Projects Ltd.
Nitesh Singh DIN 08751700	Director	03 Jun 2020	6 yrs 4 mo	Thirani Projects Ltd.
Vaishali Kumari Shaw DIN 08804508	Director	01 Aug 2020	6 yrs 2 mo	Thirani Projects Ltd.
Satyam Jaiswal DIN 09282921	Director	17 Aug 2021	5 yrs 2 mo	Thirani Projects Ltd.
Vijay Kumar Ojha DIN 09281082	Whole-time director	17 Aug 2021	5 yrs 2 mo	Thirani Projects Ltd.

People of Thirani Projects

1 people are tracked at Thirani Projects (1 in leadership).

Name	Role	Group
Utpal Dey	CEO & Managing Director	Leadership

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Complete people profiles for Thirani Projects

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Team structure
Board tenure
Professional contacts

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IPO & Listings of Thirani Projects

Thirani Projects is a publicly listed company on the BSE with ticker symbol TPROJECT in India, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

IPO date16 Jun 2014
Listed onBSE: 538464
Listed entityThirani Projects Ltd
Exchange sectorFinance
ISININE901C01017
Share price₹2.91 (-8.49% on the day) · 2026-10-14
Volume (last session)10,059

Financials of Thirani Projects

Exchange-reported figures of Thirani Projects Ltd., the listed company behind Thirani Projects (BSE: TPROJECT).

Financial Highlights

FY 2012-13 · Consolidated

Revenue

₹0.90 Cr

EBITDA

₹0.19 Cr

Profit After Tax

₹0.05 Cr

Net Worth

₹26.00 Cr

Total Assets

₹26.01 Cr

Total Debt

Nil

Financial summary ₹ Cr

Metrics	FY 2012-13
Income statement
Revenue	0.90
EBITDA	0.19
EBITDA margin	+21.1%
Profit before tax	0.17
Net profit	0.05
Net profit margin	+5.6%
EPS (₹)	0.02
Balance sheet
Total assets	26.01
Net worth	26.00
Total debt	0.00
Cash & bank	0.57
Net working capital	7.26
Cash flow
Cash from operations	(1.18)
Cash from investing	1.30
Cash from financing	0.05

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Income statement
Revenue	1.02	0.85	0.83	0.78	0.84	0.89	0.95
Revenue growth	+20.0%	+2.4%	+6.4%	-7.1%	-5.6%	-6.3%	-
EBITDA	0.71	0.42	(6.38)	(0.68)	0.16	(0.17)	(0.07)
EBITDA margin	+69.6%	+49.4%	-768.7%	-87.2%	+19.1%	-19.1%	-7.4%
Profit before tax	0.66	0.41	(6.38)	(0.68)	0.16	(0.17)	(0.07)
Net profit	0.47	0.75	(6.38)	(0.68)	0.15	(0.17)	(0.07)
Net profit margin	+46.1%	+88.2%	-768.7%	-87.2%	+17.9%	-19.1%	-7.4%
EPS (₹)	0.23	0.37	(3.16)	(0.34)	0.07	(0.09)	(0.03)
Balance sheet
Total assets	14.01	12.46	11.72	19.29	18.79	19.72	19.58
Net worth	12.88	12.46	11.71	19.29	18.79	19.72	19.58
Total debt	1.13	0.00	0.00	0.00	0.00	0.00	0.00
Cash & bank	0.44	0.62	0.73	0.57	2.71	0.64	0.11
Net working capital	(0.59)	(0.50)	(0.49)	0.59	2.77	0.65	0.23
Cash flow
Cash from operations	(0.18)	(0.11)	(0.17)	(2.17)	2.06	(0.06)	0.05
Cash from investing	0.00	0.00	0.33	0.03	0.00	0.60	(0.66)
Cash from financing	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Particulars	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024
Revenue	0.25	0.28	0.26	0.26	0.22	0.24	0.21	0.20
Revenue growth (YoY)	+13.6%	+16.7%	+23.8%	+30.0%	+10.0%	-	-	-
Other income	0.00	0.04	0.00	0.00	0.00	0.00	0.00	0.00
Total expenses	2.98	0.05	0.12	0.10	0.05	0.06	0.09	0.14
EBITDA	(2.73)	0.23	0.14	0.16	0.17	0.18	0.12	0.06
EBITDA margin	-1092.0%	+82.1%	+53.8%	+61.5%	+77.3%	+75.0%	+57.1%	+30.0%
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.02	0.03	(0.02)	0.08	0.00	0.00	0.00	0.00
Profit before tax	(2.75)	0.24	0.16	0.08	0.17	0.18	0.12	0.06
Tax	0.00	0.19	0.00	0.00	0.00	(0.34)	0.00	0.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 24 Oct 2026

Particulars	FY 2012-13
Revenue	0.90
Other income	0.00
Total expenses	0.71
Employee cost	0.03
EBITDA	0.19
EBITDA margin	+21.1%
Depreciation	0.02
Interest	0.00
Profit before tax	0.17
Tax	0.12
Net profit	0.05
Net profit margin	+5.6%
EPS (₹)	0.02

Particulars	FY 2012-13
Equity & liabilities
Share capital	20.21
Reserves & surplus	5.79
Shareholders' funds (net worth)	26.00
Minority interest	0.00
Secured loans	0.00
Unsecured loans	0.00
Total debt	0.00
Total liabilities	26.01
Assets
Gross block	5.88
Net block	5.88
Capital work in progress	0.00
Investments	12.80
Inventories	0.00
Sundry debtors	0.00
Cash & bank balances	0.57
Loans & advances	6.91
Total current assets	7.48
Total current liabilities	0.22
Net working capital	7.26
Total assets	26.01

Particulars	FY 2012-13
Opening cash	0.40
Net cash from operating activities	(1.18)
Net cash from investing activities	1.30
Net cash from financing activities	0.05
Net change in cash	0.17
Closing cash	0.57

Particulars	FY 2012-13
Growth
PBT growth	+9997.0%
Profitability & leverage
Net income margin	+5.6%
Return on capital employed	+0.6%
Return on net worth	+0.2%
Debt / equity	0.00
Long-term debt / equity	0.00
Interest cover	0.00
Efficiency & per share
Fixed asset turnover	0.15
Inventory turnover	0.00
Debtors turnover	0.00
EPS (₹)	0.02
Dividend per share (₹)	0.00
Book value per share (₹)	12.87

Particulars	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024
Revenue	0.25	0.28	0.26	0.26	0.22	0.24	0.21	0.20
Revenue growth (YoY)	+13.6%	+16.7%	+23.8%	+30.0%	+10.0%	-	-	-
Other income	0.00	0.04	0.00	0.00	0.00	0.00	0.00	0.00
Total expenses	2.98	0.05	0.12	0.10	0.05	0.06	0.09	0.14
EBITDA	(2.73)	0.23	0.14	0.16	0.17	0.18	0.12	0.06
EBITDA margin	-1092.0%	+82.1%	+53.8%	+61.5%	+77.3%	+75.0%	+57.1%	+30.0%
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.02	0.03	(0.02)	0.08	0.00	0.00	0.00	0.00
Profit before tax	(2.75)	0.24	0.16	0.08	0.17	0.18	0.12	0.06
Tax	0.00	0.19	0.00	0.00	0.00	(0.34)	0.00	0.00

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Revenue	1.02	0.85	0.83	0.78	0.84	0.89	0.95
Revenue growth	+20.0%	+2.4%	+6.4%	-7.1%	-5.6%	-6.3%	-
Other income	0.04	0.00	0.00	0.00	0.00	0.00	0.00
Total expenses	0.31	0.43	7.21	1.46	0.68	1.06	1.02
Employee cost	0.00	0.27	0.31	0.22	0.12	0.10	0.09
EBITDA	0.71	0.42	(6.38)	(0.68)	0.16	(0.17)	(0.07)
EBITDA margin	+69.6%	+49.4%	-768.7%	-87.2%	+19.1%	-19.1%	-7.4%
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.09	0.01	0.00	0.00	0.00	0.00	0.00
Profit before tax	0.66	0.41	(6.38)	(0.68)	0.16	(0.17)	(0.07)
Tax	0.19	(0.34)	0.00	0.00	0.01	0.00	0.00
Net profit	0.47	0.75	(6.38)	(0.68)	0.15	(0.17)	(0.07)
Net profit margin	+46.1%	+88.2%	-768.7%	-87.2%	+17.9%	-19.1%	-7.4%
EPS (₹)	0.23	0.37	(3.16)	(0.34)	0.07	(0.09)	(0.03)

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Equity & liabilities
Share capital	20.21	20.21	20.21	20.21	20.21	20.21	20.21
Reserves & surplus	(7.33)	(7.75)	(8.50)	(0.92)	(1.42)	(0.49)	(0.63)
Shareholders' funds (net worth)	12.88	12.46	11.71	19.29	18.79	19.72	19.58
Secured loans	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Unsecured loans	1.13	0.00	0.00	0.00	0.00	0.00	0.00
Total debt	1.13	0.00	0.00	0.00	0.00	0.00	0.00
Total liabilities	14.01	12.46	11.72	19.29	18.79	19.72	19.58
Assets
Gross block	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net block	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital work in progress	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	1.20	1.26	1.26	8.25	8.02	9.09	8.78
Inventories	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Sundry debtors	0.00	0.00	0.00	0.03	0.00	0.00	0.00
Cash & bank balances	0.44	0.62	0.73	0.57	2.71	0.64	0.11
Loans & advances	0.50	0.40	0.31	0.23	0.15	0.10	0.26
Total current assets	0.94	1.02	1.04	0.83	2.86	0.74	0.37
Total current liabilities	1.53	1.52	1.53	0.24	0.09	0.09	0.14
Net working capital	(0.59)	(0.50)	(0.49)	0.59	2.77	0.65	0.23
Total assets	14.01	12.46	11.72	19.29	18.79	19.72	19.58

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Opening cash	0.62	0.73	0.57	2.71	0.64	0.11	0.72
Net cash from operating activities	(0.18)	(0.11)	(0.17)	(2.17)	2.06	(0.06)	0.05
Net cash from investing activities	0.00	0.00	0.33	0.03	0.00	0.60	(0.66)
Net cash from financing activities	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net change in cash	(0.18)	(0.11)	0.16	(2.14)	2.06	0.53	(0.61)
Closing cash	0.44	0.62	0.73	0.57	2.71	0.64	0.11

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Growth
Sales growth	+20.0%	+2.4%	+6.4%	-7.1%	-5.6%	-6.3%	-
EBITDA growth	+69.1%	+106.6%	-838.2%	-525.0%	+194.1%	-142.9%	-
PBT growth	+61.0%	+9998.0%	-838.2%	-	+9998.0%	-142.9%	-250.0%
Net income growth	-37.3%	+111.8%	-838.2%	-553.3%	+188.2%	-142.9%	-
Revenue CAGR (3Y)	+9.4%	+0.4%	-2.3%	-6.4%	-15.9%	-30.7%	-36.2%
EBITDA CAGR (3Y)	-	+38.0%	+234.8%	+113.4%	-	-	-
Profitability & leverage
Net income margin	+46.1%	+88.2%	-768.7%	-87.2%	+17.9%	-19.1%	-7.4%
Return on capital employed	-	+2.8%	0.0%	0.0%	+0.8%	-0.9%	-0.3%
Return on net worth	-	+4.9%	0.0%	0.0%	+0.7%	-0.9%	-0.3%
Debt / equity	-	0.00	0.00	0.00	0.00	0.00	0.00
Long-term debt / equity	-	0.00	0.00	0.00	0.00	0.00	0.00
Interest cover	12.68	2.38	0.00	0.00	0.00	0.00	0.00
Efficiency & per share
Fixed asset turnover	-	0.00	0.00	0.00	0.00	0.00	0.00
Inventory turnover	-	0.00	0.00	0.00	0.00	0.00	0.00
Debtors turnover	-	0.00	55.33	52.00	0.00	0.00	0.00
EPS (₹)	0.23	0.37	(3.16)	(0.34)	0.07	(0.09)	(0.03)
Dividend per share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per share (₹)	0.00	6.17	5.80	9.54	9.30	9.76	9.69

Similar companies to Thirani Projects

Thirani Projects has 3 listed similar companies in our database, 3 of them funded. They include Kinara Capital, Profectus Capital and Vistaar Financial Services.

Company Name	Domain	Founded	HQ Location	Total funding	Employees	Description
Kinara Capital	kinaracapital.com	2011	Bengaluru, India	$116.69M	1,580	Collateral-free loans are provided to MSMEs for business operations.
Profectus Capital	profectuscapital.com	2017	Mumbai, India	$200M	1,524	SME loans are provided to businesses in India.
Vistaar Financial Services	vistaarfinance.com	2010	Bengaluru, India	$216.42M	3,758	Provider of a financial services platform that provides small business loans and other financial products to micro, small, and medium-sized enterprises (MSMEs), aiming to support their growth and development

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Top companies in Consumer and SME Loans

3 companies that operate in the same segment as Thirani Projects (Consumer and SME Loans) in India, ranked by their profile score on The Company Check.

Company	Description	Founded	Location	Total funding	Revenue	Employees
Manappuram Finance	Consumer and SME loans are provided by Manappuram Finance.	1992	Valapad, Kerala, India	USD 39.98 M	USD 1.01 B	51,650
HomeFirst Finance	Affordable home loans are extended to low and middle-income groups.	2010	Mumbai, Maharashtra, India	USD 209.7 M	USD 203.79 M	1,630
L & T Finance Holdings	Diversified lending services are provided as a non-banking financial institution.	1994	Mumbai, Maharashtra, India		USD 1.9 B	36,520

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Frequently Asked Questions about Thirani Projects

When was Thirani Projects founded?

Thirani Projects was founded in 1983.

Where is Thirani Projects located?

Thirani Projects is headquartered in Kolkata, India. It is registered at Kolkata, West Bengal, India.

Who is the CEO of Thirani Projects?

Utpal Dey is the CEO of Thirani Projects, as recorded in our data.

What is the annual revenue of Thirani Projects?

The primary company behind Thirani Projects, Thirani Projects Ltd., reported revenue of ₹1.06 Cr for FY 2026, up 20% year on year.

What does Thirani Projects do?

Which companies are similar to Thirani Projects?

Thirani Projects's top competitors include Profectus Capital, Vistaar Financial Services and Kinara Capital.

What products or services does Thirani Projects offer?

Thirani Projects offers Share Investments and Loan Provision.

Is Thirani Projects publicly traded?

Yes, Thirani Projects is publicly traded on BSE under the ticker symbol TPROJECT.

Which legal entities are associated with Thirani Projects?

Thirani Projects operates through Thirani Projects Ltd..

Who are the directors of Thirani Projects?

The legal entities of Thirani Projects currently have 6 directors, including Satyam Jaiswal, Utpal Dey, Pritika Choraria and others.

Thirani Projects

About Thirani Projects

Company details

Operational Areas of Thirani Projects

Associated legal entities of Thirani Projects

Products & Services of Thirani Projects

Board of directors of Thirani Projects Ltd. (Thirani Projects)

People of Thirani Projects

Complete people profiles for Thirani Projects

IPO & Listings of Thirani Projects

Financials of Thirani Projects

Financial Highlights

Financial summary ₹ Cr

Financial Statements

Similar companies to Thirani Projects

Detailed similar companies of Thirani Projects

Top companies in Consumer and SME Loans

Related news about Thirani Projects

Complete news archive for Thirani Projects

Frequently Asked Questions about Thirani Projects

About Thirani Projects

Company details

Operational Areas of Thirani Projects

Associated legal entities of Thirani Projects

Products & Services of Thirani Projects

Board of directors of Thirani Projects Ltd. (Thirani Projects)

People of Thirani Projects

Complete people profiles for Thirani Projects

IPO & Listings of Thirani Projects

Financials of Thirani Projects

Financial Highlights

Financial summary ₹ Cr Consolidated Standalone AnnualQuarterly

Financial Statements

Similar companies to Thirani Projects

Detailed similar companies of Thirani Projects

Top companies in Consumer and SME Loans

Related news about Thirani Projects

Complete news archive for Thirani Projects

Frequently Asked Questions about Thirani Projects

Financial summary ₹ Cr