About Fortrea Development India Private Limited
Data last updated:
Fortrea Development India Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Fortrea Asia-Pacific Inc (Formerly: Labcorp Asia-Pacific Inc). It operates in the pharma contract r and d segment of the pharmaceuticals sector. It was incorporated on 10 July 2007 and has been in existence for over 19 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74999KA2007PTC190095. Its GSTIN is 29AADCC1253D1Z2 (Karnataka). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹5.1 Lakh. It was formerly known as Labcorp Drug Development Private Limited and Labcorp Drug Development India Private Limited. It is led by directors including David Howard Cooper and Rishi Raj Sharma.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹535.42 Cr, a growth of 3% compared to the previous year. For the same year it recorded a net profit of ₹86.25 Cr (net margin 16.1%) and EBITDA of ₹125.95 Cr (EBITDA margin 23.5%).
The company has about 3,153 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Covance and Fortrea. Court records list 1 case involving the company. The company has 4 deals on record (2 rights issues, 2 secondary share transfers); the latest was in October 2018. Its 10 peer companies in the Pharma industry (Contract Research) are compared by revenue, 5 larger and 5 smaller; the largest is Veeda Clinical Research Limited with revenue of ₹621.14 Cr. The company has 9 MSME Form 1 returns on record between 2019 and 2023, listing 73 overdue payments to 11 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 fortrea.com.
Name History of Fortrea Development India Private Limited
Fortrea Development India has undergone 3 name changes throughout its history. The company was previously known as Labcorp Drug Development Private Limited, Labcorp Drug Development India Private Limited, and Covance India Pharmaceutical Services Private Limited. The current legal name is Fortrea Development India Private Limited.
| Company Name | Status |
|---|---|
| Fortrea Development India Private Limited | Current |
| Labcorp Drug Development Private Limited | Previous |
| Labcorp Drug Development India Private Limited | Previous |
| Covance India Pharmaceutical Services Private Limited | Previous |
CIN History of Fortrea Development India Private Limited
Fortrea Development India has one previous CIN (Corporate Identification Number): U74999MH2007PTC172206. The current CIN is U74999KA2007PTC190095, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74999KA2007PTC190095 | Current |
| U74999MH2007PTC172206 | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressSattva Knowledge Court 2nd Floor Wing B Plot No.9 Katha No. 299 Sy. No.77, Doddenakkundi Phase I Industrial Area Whitefield Road, Bangalore, Karnataka, India – 560048
- IndustryPharma, Pharma Contract R&D
- 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
- One PDF report, delivered after checkout
Associated Brands with Fortrea Development India Private Limited
Fortrea Development India operates two associated brands: Covance and Fortrea. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| CRO offering comprehensive drug development solutions from drug discovery to life cycle management | covance.com | |
| Provider of early & late phase clinical development, market access, and HEOR strategy services | fortrea.com |
Business Activity of Fortrea Development India Private Limited
The main business activity of Fortrea Development India is professional, scientific and technical activities. In detail, this covers other professional, scientific and technical activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| M | Professional, scientific and technical activities | 74 | Other professional, scientific and technical activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Fortrea Development India Private Limited FY 2025 filings available
Fortrea Development India Private Limited reported revenue of ₹535.42 Cr (up 3% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Fortrea Development India Private Limited
Revenue rose 3% in the latest year. EBITDA rose 70% in the latest year. All are worked out from the filed statements.
Financial Statement Summary of Fortrea Development India Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹125.95 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹86.25 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Fortrea Development India Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 23.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 16.1% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Fortrea Development India are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Board of Directors of Fortrea Development India Private Limited
Fortrea Development India has 3 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| David Howard Cooper | Director | 30 Jun 2023 | 3 Years 3 Months | Current |
| Rishi Raj Sharma | Director | 11 Sep 2023 | 3 Years 1 Months | Current |
| Hufriz Kaiky Karkaria | Additional Director | 09 Jan 2026 | 0 Years 9 Months | Current |
Peer Comparison of Fortrea Development India Private Limited
Fortrea Development India Private Limited is compared with the companies closest to it by revenue in the Pharma industry (Contract Research). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Veeda Clinical Research Limited | ₹621.14 Cr (FY 2025) | •••• | •••• | 52.0% | •••• | Ahmedabad, Gujarat, India |
| Zoetis Pharmaceutical Research Private Limited | ₹595.44 Cr (FY 2025) | •••• | •••• | 28.0% | •••• | Mumbai, Maharashtra, India |
| Jubilant Biosys Limited | ₹562.86 Cr (FY 2023) | •••• | •••• | 16.0% | •••• | New Delhi, Delhi, India |
| Graviti Pharmaceuticals Private Limited | ₹543.75 Cr (FY 2025) | •••• | •••• | 17.0% | •••• | Hyderabad, Telangana, India |
| Hyclone Life Sciences Solutions India Private Limited | ₹539.19 Cr (FY 2025) | •••• | •••• | -13.0% | •••• | Bangalore, Karnataka, India |
| Fortrea Development India Private Limited this company | ₹535.42 Cr (FY 2025) | •••• | •••• | 3.0% | •••• | Bangalore, Karnataka, India |
| TCG Lifesciences Private Limited | ₹482.95 Cr (FY 2025) | •••• | •••• | -11.0% | •••• | Kolkata, West Bengal, India |
| PPD Pharmaceutical Development India Private Limited | ₹457.7 Cr (FY 2025) | •••• | •••• | 19.0% | •••• | Mumbai, Maharashtra, India |
| Biophore India Pharmaceuticals Private Limited | ₹457 Cr (FY 2025) | •••• | •••• | 18.0% | •••• | Hyderabad, Telangana, India |
| Axis Clinicals Limited | ₹386.63 Cr (FY 2025) | •••• | •••• | -6.0% | •••• | Hyderabad, Telangana, India |
| Syngene Scientific Solutions Limited | ₹334.5 Cr (FY 2025) | •••• | •••• | -6.0% | •••• | Bangalore, Karnataka, India |
Peers are the five companies nearest above and the five nearest below Fortrea Development India by revenue in the Pharma industry (Contract Research), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Fortrea Development India Private Limited
Fortrea Development India Private Limited is audited by Vasan & Sampath LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Vasan & Sampath LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Fortrea Development India Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Fortrea Development India Private Limited
Fortrea Development India Private Limited does not have any charges (loans) registered with the Registrar of Companies.
Deals & Funding of Fortrea Development India Private Limited
Fortrea Development India Private Limited has 4 deals on record (2 rights issues, 2 secondary share transfers); the latest was in October 2018.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2018 | Rights issue | ₹4.6 Cr | Investors: Fortrea Asia-pacific Inc |
| Jul 2018 | Rights issue | ₹2.12 Cr | Investors: Fortrea Asia-pacific Inc |
| Apr 2008 | Secondary share transfer | Undisclosed | Buyer: Fortrea Asia-pacific Inc Seller: an individual |
| Apr 2008 | Secondary share transfer | Undisclosed | Buyer: Fortrea Inc, Fortrea Asia-pacific Inc Seller: 2 individuals |
Full deal history
All 4 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Fortrea Development India Private Limited
Fortrea Development India Private Limited has 1 court case on record: 1 where it is another party. All case is disposed. Status as checked on 02 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 1 | 0 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Civil suit | Company is another party | Disposed |
Full case history
All 1 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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 by Fortrea Development India Private Limited
Fortrea Development India Private Limited has 9 MSME Form 1 returns on record between 2019 and 2023, listing 73 overdue payments to 11 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 11)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Realsource Enterprises | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Wissen Infotech Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| RSM Astute Consulting Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 9 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Fortrea Development India Private Limited
Fortrea Development India Private Limited has a workforce of 3,153 employees as of Apr 02, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Recent Activity on Fortrea Development India Private Limited
Fortrea Development India Private Limited has 21 board changes on record since 2008: 3 appointments and 18 cessations. The latest: Hufriz Kaiky Karkaria was appointed as Additional Director on 09 Jan 2026.
12 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Fortrea Development India Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Fortrea Development India Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Fortrea Development India Private Limited
Fortrea Development India has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AADCC1253D1Z2 | Karnataka | Active | 14 Jan 2018 |
| 27AADCC1253D1Z6 | Maharashtra | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Fortrea Development India Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Fortrea Development India Private Limited
Frequently Asked Questions about Fortrea Development India Private Limited
Fortrea Development India is an active private limited company based in Bangalore, Karnataka, India. The company works in pharma contract r and d, within the pharma industry. It was incorporated on 10 July 2007 (19+ years old) and is registered under CIN U74999KA2007PTC190095.
Fortrea Development India reported revenue of ₹535.42 Cr for FY 2025 (up 3% YoY).
Fortrea Development India has 3 current directors:
- David Howard Cooper - Director
- Rishi Raj Sharma - Director
- Hufriz Kaiky Karkaria - Additional Director
Fortrea Development India reported a net profit of ₹86.25 Cr (net margin 16.1%) and EBITDA of ₹125.95 Cr (EBITDA margin 23.5%) for FY 2025, as per its filed financial statements.
The GSTIN of Fortrea Development India is 29AADCC1253D1Z2, registered in Karnataka. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 27AADCC1253D1Z6 (Maharashtra).
The CIN (Corporate Identification Number) of Fortrea Development India is U74999KA2007PTC190095. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Fortrea Development India has 1 court case on record.
Fortrea Development India was incorporated on 10 July 2007, making it 19+ years old. It is registered with the Registrar of Companies, Bangalore.
Fortrea Development India has 4 deals on record (2 rights issues, 2 secondary share transfers); the latest was in October 2018.
The peers of Fortrea Development India by revenue are Veeda Clinical Research Limited, Zoetis Pharmaceutical Research Private Limited, Jubilant Biosys Limited, Graviti Pharmaceuticals Private Limited, Hyclone Life Sciences Solutions India Private Limited and 5 more, all in the Pharma industry (Contract Research).
Hufriz Kaiky Karkaria was appointed as Additional Director on 09 Jan 2026. David Howard Cooper ceased to be Additional Director on 25 Sep 2023. Rishi Raj Sharma ceased to be Additional Director on 25 Sep 2023. Fortrea Development India has 21 board changes on record in total.
Fortrea Development India has 9 MSME Form 1 returns on record between 2019 and 2023, listing 73 overdue payments to 11 micro and small suppliers. The latest return was filed on 16 Dec 2023.