About Clover Developers Private Limited
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Clover Developers Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 29 September 1984 and has been in existence for over 42 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH1984PTC034153. Its GSTIN is 27AAACG1925B1Z6 (Maharashtra).
The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹10 Lakh. It was formerly known as Gargi Construction Co Pvt Ltd. It is led by directors Raj Kanaksen Bhansali and Dhiren Popatlal Nandu.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹5.18 Cr, a decline of 3% compared to the previous year. For the same year it recorded a net loss of ₹84.3 Lakh (net margin -16.3%) and EBITDA of -₹60.64 Lakh (EBITDA margin -11.7%). Revenue has declined at a compounded annual rate (CAGR) of 4% over three years and 18% over five years.
The company has about 33 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹29.2 Cr and satisfied charges of ₹5.81 Cr on record. Court records list 25 cases involving the company, including 11 filed by the company and 14 filed against it; 12 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website cloverbuilders.com.
Company details
Contact details
Clover Developers Private Limited's registered office is in Mumbai, Maharashtra. Its website is cloverbuilders.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address501 5 Floor Aashirwad Bldg. Plot No.471/B Rd No.33 H Adenwala Rd Maheswari Udyan King Circ, Le Matunga, Mumbai, Maharashtra, India – 400019
- IndustryReal Estate and Construction, Real Estate Builders & Developers
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- 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 Clover Developers is electricity, gas, steam and air conditioning supply. In detail, this covers electricity, gas, steam and air conditioning supply.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air conditioning supply | 35 | Electricity, gas, steam and air conditioning supply |
To see the full business activity and turnover split of Clover Developers Private Limited, buy the company report.
Financials of Clover Developers Private Limited
FY 2024 filings availableClover Developers Private Limited reported revenue of ₹5.18 Cr (down 3% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 18% over five years, including a 3% fall in the latest year. EBITDA fell 258% 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 | -₹60.64 Lakh | ||||
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| Net Profit (PAT) | -₹84.3 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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| Profitability | |||||
| EBITDA Margin | -11.7% | ||||
| Net Profit Margin | -16.3% | ||||
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To see the full financial statements and ratios of Clover Developers Private Limited, buy the company report.
Board of directors of Clover Developers Private Limited
Clover Developers has 2 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Raj Kanaksen Bhansali Also directs: Clover Renaissance LLP, Clover Buildtech-I Private Limited, Clover Buildtech-Ii Private Limited and 5 more | Director | 25 Apr 2014 | 12 Years 6 Months | Current |
| Dhiren Popatlal Nandu | Director | 30 Aug 1999 | 27 Years 2 Months | Current |
Auditor
Clover Developers Private Limited is audited by Ganesh & Rajendra Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Ganesh & Rajendra Associates | FY 2023 | 103055W |
Shareholding
The shareholding of Clover Developers 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 Clover Developers Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Aug 2016 | 100050752 | Others | ₹15 Cr | Open | |
| 15 Feb 2016 | 10624848 | Bajaj Finance Limited | ₹14.2 Cr | Open | |
| 07 May 2007 | 10055225 | Oriental Bank of Commerce Ltd. | ₹5.81 Cr | Satisfied |
To see the full charge records of Clover Developers Private Limited, buy the company report.
Total charge records: 3 View all charges
Legal cases
Clover Developers Private Limited has 25 court cases on record: 11 filed by Clover Developers, 14 filed against it. 12 cases are pending and 13 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 11 | 6 | 6 |
| District courts | 9 | 4 | 6 |
| Supreme Court | 5 | 4 | 0 |
Cases on record (5 of 25)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Appeal | Filed against the company by Isc Projects Private Limited Thr.Its Directors No.5A to 5C(Legal Heir) and 9 others | Pending |
| High Court, MAHARASHTRA | Appeal | Filed by the company against Isc Projects Private Ltd.,Pune1 and 24 others | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Isc Projects Private Ltd.,Pune and 2 others | Disposed |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed against the company by Isc Projects Private Limited Thr.Its Directors No.5A to 5C(Legal Heir) and 9 others | Disposed |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed by the company against Isc Projects Private Ltd.,Pune1 and 25 others | Disposed |
To see the full case history of Clover Developers 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
Clover Developers Private Limited has 3 MSME Form 1 returns on record between 2022 and 2023, listing 9 overdue payments to 5 micro and small suppliers. 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 (5 of 5)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| SFS Fire Protection India Private Limited | |||
| Sri Parram Marketing | |||
| Taiyo Enviro Private Limited | |||
| Parwani Enerprises | |||
| Greencon Overseas |
To see the full MSME payment records of Clover Developers Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Clover Developers Private Limited has a workforce of 33 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Clover Developers has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACG1925B1Z6 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Clover Developers Private Limited, buy the company report.
Recent activity
Clover Developers Private Limited has 8 board changes on record since 1999: 2 appointments and 6 cessations. The latest: Romil Dhiren Nandu ceased to be Director on 01 Aug 2017.
3 earlier events are in the company report.
Frequently asked questions
Clover 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 29 September 1984 (42+ years old) and is registered under CIN U45200MH1984PTC034153.
Clover Developers has 2 current directors:
- Raj Kanaksen Bhansali - Director
- Dhiren Popatlal Nandu - Director
The latest financial statements of Clover Developers on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Clover Developers is 27AAACG1925B1Z6, registered in Maharashtra.
The CIN (Corporate Identification Number) of Clover Developers is U45200MH1984PTC034153. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Clover Developers has 25 court cases on record: 11 filed by the company and 14 filed against it. 12 are pending. Most are in the high courts.
Clover Developers was incorporated on 29 September 1984, making it 42+ years old. It is registered with the Registrar of Companies, Mumbai.
Romil Dhiren Nandu ceased to be Director on 01 Aug 2017. Meena Dhiren Nandu ceased to be Additional Director on 27 Oct 2015. Rahil Dhiren Nandu ceased to be Additional Director on 30 Sep 2015. Clover Developers has 8 board changes on record in total.
Clover Developers has 3 MSME Form 1 returns on record between 2022 and 2023, listing 9 overdue payments to 5 micro and small suppliers. The latest return was filed on 30 Aug 2023.
Clover Developers can be reached through the website cloverbuilders.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Clover Developers is at 501 5 Floor Aashirwad Bldg. Plot No.471B Rd No.33 H Adenwala Rd Maheswari Udyan King Circ, Le Matunga, Mumbai, Maharashtra, India – 400019.
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