Fornido Developers Limited
About Fornido Developers Limited
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Fornido Developers Limited is a public 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 27 December 1958 and has been in existence for over 68 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U29290MH1958PLC011247. Its GSTIN is 27AAACE1146J1ZU (Maharashtra).
The company has an authorised share capital of ₹25 Cr and a paid-up capital of ₹9 Cr. It was formerly known as Enpro Limited. It is led by directors including Rupal Rupin Ashar (Whole-Time Director) and Sandeep Popatlal Patel.
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹40.84 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹27.83 Cr (net margin 68.2%) and EBITDA of ₹39.94 Cr (EBITDA margin 97.8%). Revenue has grown at a compounded annual rate (CAGR) of 267% over three years and 91% over five years.
Its group structure includes 2 subsidiaries.
As per MCA filings, the company has satisfied charges of ₹97.5 Cr on record. Court records list 3 cases involving the company, including 3 filed by the company; 1 case is pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Fornido Developers has one previous CIN (Corporate Identification Number): L29290MH1958PLC011247. The current CIN is U29290MH1958PLC011247, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U29290MH1958PLC011247 | Current |
| L29290MH1958PLC011247 | Previous |
Contact details
Fornido Developers Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressShop No.15 1st Lower Portion Floor Om Heera Panna Pre. Chs Cts No. 1 Pt. Andheri O, Shiwara, Mumbai, Maharashtra, India – 400053
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Fornido Developers 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 Fornido Developers 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 Fornido Developers Limited, buy the company report.
Financials of Fornido Developers Limited
FY 2025 filings availableFornido Developers Limited reported revenue of ₹40.84 Cr (up 324% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 91% over five years, including 324% growth in the latest year. EBITDA rose 342% 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 | ₹39.94 Cr | ||||
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| Net Profit (PAT) | ₹27.83 Cr | ||||
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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 | 97.8% | ||||
| Net Profit Margin | 68.2% | ||||
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To see the full financial statements and ratios of Fornido Developers Limited, buy the company report.
Board of directors of Fornido Developers Limited
Fornido Developers has 3 current directors and 13 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sandeep Popatlal Patel Also directs: Paathway Infrastructure India LLP, Pushti Lands LLP | Director | 27 Feb 2017 | 9 Years 8 Months | Current |
| Rupal Rupin Ashar Also directs: Agrikraft Farming Private Limited, Reed-N-Pick Fabs Private Limited, Edificio Engineers Private Limited and 2 more | Whole-Time Director | 18 Apr 2017 | 9 Years 6 Months | Current |
| Vijetha Sandeep Shetty | Director | 03 Oct 2024 | 2 Years 0 Months | Current |
Auditor
Fornido Developers Limited is audited by Vatsaraj & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Vatsaraj & Co. | FY 2023 | 11327W |
Shareholding
The shareholding of Fornido Developers 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 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 Fornido Developers Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Feb 2014 | 10483831 | The Ratnakar Bank Limited | ₹97.5 Cr | Satisfied |
To see the full charge records of Fornido Developers Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
Fornido Developers Limited has 3 court cases on record: 3 filed by Fornido Developers. 1 case is pending and 2 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 0 | 0 |
| District courts | 1 | 0 | 1 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Cases SS) | Filed by the company against Capacite Structures Ltd and 4 others | Pending |
| Bombay High Court | Writ petition | Filed by the company against State of Maharashtra Through the Secretary, Revenue and Forest Dept. and Ors. and 1 other | Disposed |
| High Court of Delhi | Appeal | Filed by the company against Asia Infrastructure Development Corp.Ltd | Disposed |
To see the full case history of Fornido Developers 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 Fornido Developers Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Fornido Developers has 2 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Nirman Constructions Private Limited | U45400MH2007PTC171050 | |
| Azra Land Projects Private Limited | U70102MH2008PTC180422 |
To see the full group structure of Fornido Developers Limited, buy the company report.
GST
Fornido Developers has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACE1146J1ZU | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Fornido Developers Limited, buy the company report.
Recent activity
Fornido Developers Limited has 27 board changes on record since 1992: 15 appointments and 12 cessations. The latest: Sanjay Nelson Stephens ceased to be Director on 03 Oct 2024.
20 earlier events are in the company report.
Frequently asked questions
Fornido Developers is an active public 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 27 December 1958 (68+ years old) and is registered under CIN U29290MH1958PLC011247.
Fornido Developers has 3 current directors:
- Rupal Rupin Ashar - Whole-Time Director
- Sandeep Popatlal Patel - Director
- Vijetha Sandeep Shetty - Director
The latest financial statements of Fornido Developers on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Fornido Developers is 27AAACE1146J1ZU, registered in Maharashtra.
The CIN (Corporate Identification Number) of Fornido Developers is U29290MH1958PLC011247. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Fornido Developers has 3 court cases on record: 3 filed by the company. 1 is pending. Most are in the high courts.
Fornido Developers was incorporated on 27 December 1958, making it 68+ years old. It is registered with the Registrar of Companies, Mumbai.
Sanjay Nelson Stephens ceased to be Director on 03 Oct 2024. Vijetha Sandeep Shetty was appointed as Director on 03 Oct 2024. Suresh Seena Shetty ceased to be Additional Director on 10 Sep 2018. Fornido Developers has 27 board changes on record in total.
The registered office of Fornido Developers is at Shop No.15 1st Lower Portion Floor Om Heera Panna Pre. Chs Cts No. 1 Pt. Andheri O, Shiwara, Mumbai, Maharashtra, India – 400053.
Fornido Developers operates in the real estate and construction industry, in the real estate builders and developers segment.