Euthoria Developers Private Limited
About Euthoria Developers Private Limited
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Euthoria Developers Private Limited is a private limited company based in Ahmedabad, Gujarat, India, a subsidiary of Wynford Investments Limited. It operates in the mall and retail management segment of the business services sector. It was incorporated on 08 August 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U70102GJ2012PTC122516. Its GSTIN is 24AADCE1319C1ZD (Gujarat). The company holds 4 GST registrations, of which 3 are active.
The company has an authorised share capital of ₹3.1 Cr and a paid-up capital of ₹2.31 Cr. It is led by directors including Jayen Ajit Naik and Nishank Ramesh Joshi.
Its last annual general meeting (AGM) was held on 23 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Plot No. 216 T.P Scheme 1 Near Vastrapur Lake, Ahmedabad, Gujarat, India – 380054.
As per the financials filed for FY 2025, the company reported a revenue of ₹235.85 Cr, a growth of 5% compared to the previous year. For the same year it recorded a net profit of ₹86.08 Cr (net margin 36.5%) and EBITDA of ₹167.2 Cr (EBITDA margin 70.9%). Revenue has grown at a compounded annual rate (CAGR) of 18% over three years and 9% over five years.
The company has about 52 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹425 Cr and satisfied charges of ₹1,200 Cr on record. Court records list 17 cases involving the company, including 9 filed by the company and 10 filed against it; 3 cases are pending. The company has 4 deals on record (2 secondary share transfers, 1 debt financing, 1 funding round), with disclosed funding of ₹31.32 Cr; the latest was in May 2023. Its 7 peer companies in the Business Services industry (Mall Management), with the same principal business activity (real estate activities with own or leased property) are compared by revenue, 4 larger and 3 smaller; the largest is Century 21 Town Planners Private Limited with revenue of ₹258.85 Cr. The company has 14 MSME Form 1 returns on record between 2018 and 2024, listing 289 overdue payments to 68 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Euthoria Developers has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U70102GJ2012PTC122516, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U70102GJ2012PTC122516 | Current |
| U70102PB2012PTC045658 | Previous |
| U70102DL2012PTC239994 | Previous |
Contact details
Euthoria Developers Private Limited's registered office is in Ahmedabad, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressPlot No. 216 T.P Scheme 1 Near Vastrapur Lake, Ahmedabad, Gujarat, India – 380054
- IndustryBusiness Services, Mall & Retail Management
To see the full contact details of Euthoria 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
Business activity
The main business activity of Euthoria 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 Euthoria Developers Private Limited, buy the company report.
Financials of Euthoria Developers Private Limited
FY 2025 filings availableEuthoria Developers Private Limited reported revenue of ₹235.85 Cr (up 5% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 9% over five years, including 5% growth in the latest year. EBITDA rose 3% 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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| Total Expenses | |||||
| EBITDA | ₹167.2 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹86.08 Cr | ||||
| Balance Sheet | |||||
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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 | 70.9% | ||||
| 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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To see the full financial statements and ratios of Euthoria Developers Private Limited, buy the company report.
Board of directors of Euthoria Developers Private Limited
Euthoria Developers has 3 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jayen Ajit Naik Also directs: Mamadapur Solar Private Limited, Nexus Mangalore Retail Private Limited, Select Infrastructure Private Limited and 5 more | Nominee Director | 12 May 2023 | 3 Years 5 Months | Current |
| Nishank Ramesh Joshi Also directs: Mamadapur Solar Private Limited, CSJ Infrastructure Private Limited., Nexus Mangalore Retail Private Limited and 1 more | Nominee Director | 12 Dec 2024 | 1 Years 10 Months | Current |
| Nirzar Anil Kumar Umathe Jain Also directs: Nexus Mysore Retail Private Limited, Select Infrastructure Private Limited, Nexus Hyderabad Retail Private Limited and 4 more | Nominee Director | 12 May 2023 | 3 Years 5 Months | Current |
Peer comparison
Euthoria Developers Private Limited is compared with the 7 companies closest to it by revenue in the Business Services industry (Mall Management), with the same principal business activity (real estate activities with own or leased property), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Century 21 Town Planners Private Limited | ₹258.85 Cr (FY 2025) | 276.0% | Indore, Madhya Pradesh, India | |||
| Nexus Hyderabad Retail Private Limited | ₹256.59 Cr (FY 2025) | 4.0% | Hyderabad, Telangana, India | |||
| Ambience Commercial Developers Private Limited | ₹252.23 Cr (FY 2025) | 4.0% | New Delhi, Delhi, India | |||
| Alyssum Developers Private Limited | ₹236.83 Cr (FY 2025) | 131.0% | Mahalaxmi, Mumbai, Maharashtra, India | |||
| Euthoria Developers Private Limitedthis company | ₹235.85 Cr (FY 2025) | ₹86.08 Cr | 36.5% | 5.0% | 52 | Ahmedabad, Gujarat, India |
| Avinash Developers Private Limited | ₹231.21 Cr (FY 2025) | 51.0% | Raipur, Chhattisgarh, India | |||
| Destiny Retail Mall Developers Private Limited | ₹204.23 Cr (FY 2025) | 10.0% | Mahalaxmi, Maharashtra, India | |||
| Westerly Retail Private Limited | ₹198.54 Cr (FY 2023) | 47.0% | Navi Mumbai, Maharashtra, India |
To see the full peer comparison of Euthoria Developers Private Limited, buy the company report.
Auditor
Euthoria Developers Private Limited is audited by SRBC&COLLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SRBC&COLLP | FY 2023 | 324982E/E300003 |
Shareholding
The shareholding of Euthoria 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 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Euthoria Developers Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Mar 2023 | 100704209 | Sbicap Trustee Company Limited | ₹425 Cr | Open | |
| 30 Dec 2022 | 100668614 | State Bank of India | ₹425 Cr | Satisfied | |
| 28 Jul 2022 | 100623158 | Idbi Trusteeship Services Limited | ₹160 Cr | Satisfied | |
| 15 Dec 2018 | 100226383 | Idbi Trusteeship Services Limited | ₹135 Cr | Satisfied | |
| 10 Mar 2016 | 100018036 | State Bank of India | ₹240 Cr | Satisfied |
To see the full charge records of Euthoria Developers Private Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Euthoria Developers Private Limited has 4 deals on record (2 secondary share transfers, 1 debt financing, 1 funding round), with disclosed funding of ₹31.32 Cr; the latest was in May 2023.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2023 | Secondary share transfer | Undisclosed | Buyer: Nexus Select Trust Seller: Wynford Investments Limited, SSIII Indian Investments One Limited |
| Sep 2022 | Secondary share transfer | Undisclosed | Buyer: SSIII Indian Investments One Limited Seller: an individual |
| Mar 2017 | Funding round | ₹2.32 Cr | Investors: Wynford Investments Limited, SSIII Indian Investments One Limited, an individual |
| Mar 2017 | Debt financing | ₹29 Cr | Investors: Blackstone Advisors India, BREP Asia SG Alpha Holding (NQ) Pte Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Euthoria Developers Private Limited has 17 court cases on record: 9 filed by Euthoria Developers, 10 filed against it. 3 cases are pending and 14 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 5 | 2 |
| High courts | 8 | 4 | 1 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 17)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Amritsar, Punjab | Cheque dishonour complaint | Filed by the company against Mga Engg and Infra Pvt Limited and 2 others | Pending |
| High Court, PUNJAB | Writ petition | Filed against the company by Euthoria Developers Pvt Ltd and 1 other | Disposed |
| High Court, PUNJAB | Writ petition | Filed by the company against Euthoria Developers Pvt Ltd and Anr and 2 others | Disposed |
| District court, Patiala, Punjab | Execution petition | Filed by the company against Punjab State Power Corporation Ltd | Disposed |
| District court, Amritsar, Punjab | Arbitration matter | Filed against the company by M-S Smaaash Leisure Ltd | Disposed |
To see the full case history of Euthoria 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
Euthoria Developers Private Limited was last rated by Crisil on 09 Dec 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 09 Dec 2021 |
To see the full credit ratings and regulatory alerts of Euthoria Developers Private Limited, buy the company report.
MSME payment delays
Euthoria Developers Private Limited has 14 MSME Form 1 returns on record between 2018 and 2024, listing 289 overdue payments to 68 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 68)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| J & M Hospitality Services Private Limited | |||
| Secure Parking Solutions Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Euthoria Developers Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Euthoria Developers Private Limited has a workforce of 52 employees on its EPFO records as of May 2026, across 3 active EPFO establishments.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 52 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Euthoria Developers Private Limited, buy the company report.
GST
Euthoria Developers has 4 GST registrations: 3 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AADCE1319C1ZD | Gujarat | Active | 20 Oct 2022 |
| 03AADCE1319C1ZH | Punjab | Active | 01 Jul 2017 |
| 03AADCE1319C2ZG | Punjab | Active | 25 Mar 2025 |
To see the full GST registrations and return filing status of Euthoria Developers Private Limited, buy the company report.
Recent activity
Euthoria Developers Private Limited has 15 board changes on record since 2015: 3 appointments and 12 cessations. The latest: Nishank Ramesh Joshi ceased to be Additional Director on 22 Jul 2025.
19 earlier events are in the company report.
Frequently asked questions
Euthoria Developers is an active private limited company based in Ahmedabad, Gujarat, India. The company works in mall and retail management, within the business services industry. It was incorporated on 08 August 2012 (14+ years old) and is registered under CIN U70102GJ2012PTC122516.
Euthoria Developers has 3 current directors:
- Jayen Ajit Naik - Nominee Director
- Nishank Ramesh Joshi - Nominee Director
- Nirzar Anil Kumar Umathe Jain - Nominee Director
The latest financial statements of Euthoria Developers on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 23 July 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Euthoria Developers is 24AADCE1319C1ZD, registered in Gujarat. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 03AADCE1319C1ZH (Punjab), 03AADCE1319C2ZG (Punjab).
The CIN (Corporate Identification Number) of Euthoria Developers is U70102GJ2012PTC122516. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Euthoria Developers has 17 court cases on record: 9 filed by the company and 10 filed against it. 3 are pending. Most are in the district courts.
Euthoria Developers was incorporated on 08 August 2012, making it 14+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Euthoria Developers has 4 deals on record (2 secondary share transfers, 1 debt financing, 1 funding round), with disclosed funding of ₹31.32 Cr; the latest was in May 2023.
The peers of Euthoria Developers by revenue are Century 21 Town Planners Private Limited, Nexus Hyderabad Retail Private Limited, Ambience Commercial Developers Private Limited, Alyssum Developers Private Limited, Avinash Developers Private Limited and 2 more, all in the Business Services industry (Mall Management), with the same principal business activity (real estate activities with own or leased property).
Nishank Ramesh Joshi ceased to be Additional Director on 22 Jul 2025. Nishank Ramesh Joshi was appointed as Nominee Director on 12 Dec 2024. Jayen Ajit Naik ceased to be Additional Director on 09 Aug 2023. Euthoria Developers has 15 board changes on record in total.
Euthoria Developers has 14 MSME Form 1 returns on record between 2018 and 2024, listing 289 overdue payments to 68 micro and small suppliers. The latest return was filed on 20 Apr 2024.
The registered office of Euthoria Developers is at Plot No. 216 T.P Scheme 1 Near Vastrapur Lake, Ahmedabad, Gujarat, India – 380054.
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