About Destiny Retail Mall Developers Private Limited
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Destiny Retail Mall Developers Private Limited is a private limited company based in Mahalaxmi, Maharashtra, India, a subsidiary of The Phoenix Mills Limited. It operates in the mall and retail management segment of the business services sector. It was incorporated on 31 August 2007 and has been in existence for over 19 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U55101MH2007PTC173673. Its GSTIN is 27AACCD8122B1Z4 (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹9.87 Cr. It was formerly known as Destiny Commercial Developers Private Limited and Destiny Hospitality Services Private Limited. It is led by directors including Sanjeev Sarin (Managing Director) and Shashie Kumar.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mahalaxmi, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹204.23 Cr, a growth of 10% compared to the previous year. For the same year it recorded a net profit of ₹66.99 Cr (net margin 32.8%) and EBITDA of ₹145.32 Cr (EBITDA margin 71.2%). Revenue has grown at a compounded annual rate (CAGR) of 17% over three years and 584% over five years.
The company has about 56 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Phoenix Palassio. As per MCA filings, the company has open charges of ₹550 Cr and satisfied charges of ₹525 Cr on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it; 1 case is pending. The company has 7 deals on record (4 secondary share transfers, 2 debt financings, 1 rights issue), with disclosed funding of ₹400.55 Cr; the latest was in June 2025. The company has 7 MSME Form 1 returns on record between 2021 and 2023, listing 50 overdue payments to 41 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website phoenixpalassio.com.
Company details
Name history
Destiny Retail Mall Developers has undergone 3 name changes throughout its history. The company was previously known as Destiny Commercial Developers Private Limited, Destiny Hospitality Services Private Limited, and Destiny Mall Developers Private Limited. The current legal name is Destiny Retail Mall Developers Private Limited.
| Company Name | Status |
|---|---|
| Destiny Retail Mall Developers Private Limited | Current |
| Destiny Commercial Developers Private Limited | Previous |
| Destiny Hospitality Services Private Limited | Previous |
| Destiny Mall Developers Private Limited | Previous |
Contact details
Destiny Retail Mall Developers Private Limited's registered office is in Mahalaxmi, Maharashtra. Its website is phoenixpalassio.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressC/O Market City Resources Pvt. Ltd Ground Floor R.R. Hosiery Bldg Shree Luxmi Woollen Mi, Lls Estate, Mahalaxmi, Maharashtra, India – 400011
- IndustryBusiness Services, Mall & Retail Management
To see the full contact details of Destiny Retail Mall Developers 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
Brands
Destiny Retail Mall Developers operates one associated brand: Phoenix Palassio. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Retail mall operations, dining, and entertainment services across India. | phoenixpalassio.com |
Business activity
The main business activity of Destiny Retail Mall Developers is real estate. In detail, this covers real estate activities with own or leased property.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property |
To see the full business activity and turnover split of Destiny Retail Mall Developers Private Limited, buy the company report.
Financials of Destiny Retail Mall Developers Private Limited
FY 2025 filings availableDestiny Retail Mall Developers Private Limited reported revenue of ₹204.23 Cr (up 10% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 584% over five years, including 10% growth in the latest year. EBITDA rose 12% 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 | ₹145.32 Cr | ||||
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| Net Profit (PAT) | ₹66.99 Cr | ||||
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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 | 71.2% | ||||
| Net Profit Margin | 32.8% | ||||
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To see the full financial statements and ratios of Destiny Retail Mall Developers Private Limited, buy the company report.
Board of directors of Destiny Retail Mall Developers Private Limited
Destiny Retail Mall Developers has 5 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shashie Kumar Also directs: Marketworks Resources LLP, Upal Developers Private Limited, Blackwood Developers Private Limited and 2 more | Director | 10 Jul 2024 | 2 Years 4 Months | Current |
| Lalit Jain Also directs: Orcus Realty Limited, Graceworks Realty & Leisure Private Limited, Gangetic Developers Private Limited and 5 more | Director | 10 Jul 2024 | 2 Years 4 Months | Current |
| Sanjeev Sarin | Managing Director | 31 Mar 2020 | 6 Years 7 Months | Current |
| Amit Arora | Director | 10 Jul 2024 | 2 Years 4 Months | Current |
| Prashant Shriram Khandelwal Also directs: Upal Developers Private Limited, Blackwood Developers Private Limited, Mugwort Land Holdings Private Limited and 5 more | Director | 31 Mar 2020 | 6 Years 7 Months | Current |
Auditor
Destiny Retail Mall Developers Private Limited is audited by D T S & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| D T S & Associates LLP | FY 2023 | 142412W/W100595 |
Shareholding
The shareholding of Destiny Retail Mall Developers Private Limited is on record for 5 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Destiny Retail Mall Developers Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 16 Sep 2021 | 100483888 | Idbi Trusteeship Services Limited | ₹550 Cr | Open | |
| 03 Aug 2018 | 100202933 | Others | ₹525 Cr | Satisfied |
To see the full charge records of Destiny Retail Mall Developers Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Destiny Retail Mall Developers Private Limited has 7 deals on record (4 secondary share transfers, 2 debt financings, 1 rights issue), with disclosed funding of ₹400.55 Cr; the latest was in June 2025.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2025 | Rights issue | ₹10.2 Cr | Investors: The Phoenix Mills Limited |
| Nov 2019 | Debt financing | ₹115 Cr | Investors: The Phoenix Mills Limited |
| Apr 2018 | Debt financing | ₹285.55 Cr | Investors: The Phoenix Mills Limited |
| Apr 2018 | Secondary share transfer | Undisclosed | Buyer: The Phoenix Mills Limited Seller: 2 individuals |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
To see the full deal history of Destiny Retail Mall Developers Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Destiny Retail Mall Developers Private Limited has 4 court cases on record: 1 filed by Destiny Retail Mall Developers, 3 filed against it. 1 case is pending and 3 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 2 | 1 |
| High courts | 2 | 1 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Arbitration matter | Filed by the company against Vare Precast and Construction Pvt. Ltd. | Disposed |
| District court, Lucknow, Uttar Pradesh | Civil suit | Filed against the company by an individual | Pending |
| High Court of Delhi | Court case (O.M.P.(MISC.)(COMM.)) | Filed against the company by Premier Tech Brisanzia Private Limited | Disposed |
| District court, Lucknow, Uttar Pradesh | Civil suit | Filed against the company by Karishma Chopra Proprietor M/S K.C. Suit | Disposed |
To see the full case history of Destiny Retail Mall 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.
Credit ratings & regulatory alerts
Destiny Retail Mall Developers Private Limited was last rated by Indiarating on 13 Aug 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 13 Aug 2021 |
To see the full credit ratings and regulatory alerts of Destiny Retail Mall Developers Private Limited, buy the company report.
MSME payment delays
Destiny Retail Mall Developers Private Limited has 7 MSME Form 1 returns on record between 2021 and 2023, listing 50 overdue payments to 41 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 41)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Black Hound Security Services Private Limited | |||
| an individual supplier | |||
| Isc Fabricators | |||
| A.A. Nayak Constructions Private Limited | |||
| Kaivalya Communication |
To see the full MSME payment records of Destiny Retail Mall Developers Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Destiny Retail Mall Developers Private Limited has a workforce of 56 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Destiny Retail Mall Developers has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCD8122B1Z4 | Maharashtra | Active | 09 May 2018 |
| 09AACCD8122B1Z2 | Uttar Pradesh | Active | 15 Jun 2018 |
To see the full GST registrations and return filing status of Destiny Retail Mall Developers Private Limited, buy the company report.
Recent activity
Destiny Retail Mall Developers Private Limited has 23 board changes on record since 2007: 5 appointments and 18 cessations. The latest: Amit Arora ceased to be Additional Director on 10 Sep 2024.
18 earlier events are in the company report.
Frequently asked questions
Destiny Retail Mall Developers is an active private limited company based in Mahalaxmi, Maharashtra, India. The company works in mall and retail management, within the business services industry. It was incorporated on 31 August 2007 (19+ years old) and is registered under CIN U55101MH2007PTC173673.
Destiny Retail Mall Developers has 5 current directors:
- Sanjeev Sarin - Managing Director
- Shashie Kumar - Director
- Lalit Jain - Director
- Amit Arora - Director
- Prashant Shriram Khandelwal - Director
The latest financial statements of Destiny Retail Mall Developers on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Destiny Retail Mall Developers is 27AACCD8122B1Z4, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 09AACCD8122B1Z2 (Uttar Pradesh).
The CIN (Corporate Identification Number) of Destiny Retail Mall Developers is U55101MH2007PTC173673. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Destiny Retail Mall Developers has 4 court cases on record: 1 filed by the company and 3 filed against it. 1 is pending. Most are in the district courts.
Destiny Retail Mall Developers was incorporated on 31 August 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
Destiny Retail Mall Developers has 7 deals on record (4 secondary share transfers, 2 debt financings, 1 rights issue), with disclosed funding of ₹400.55 Cr; the latest was in June 2025.
Amit Arora ceased to be Additional Director on 10 Sep 2024. Lalit Jain ceased to be Additional Director on 10 Sep 2024. Shashie Kumar ceased to be Additional Director on 10 Sep 2024. Destiny Retail Mall Developers has 23 board changes on record in total.
Destiny Retail Mall Developers has 7 MSME Form 1 returns on record between 2021 and 2023, listing 50 overdue payments to 41 micro and small suppliers. The latest return was filed on 16 Dec 2023.
Destiny Retail Mall Developers can be reached through the website phoenixpalassio.com. Its registered office is in Mahalaxmi, Maharashtra, India.
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