About Ajr Infra and Tolling Limited
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Ajr Infra and Tolling Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 23 April 2001 and has been in existence for over 25 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L45203MH2001PLC131728. Its GSTIN is 27AABCG8641H1ZI (Maharashtra). The company holds 6 GST registrations, of which 3 are active. It is recorded as listed by MCA, but trading in its shares on BSE (532959) has been suspended, so they do not currently trade on a stock exchange.
The company has an authorised share capital of ₹250 Cr and a paid-up capital of ₹188.37 Cr. It was formerly known as Vriddhi Infrastructure Projects Limited and Terraform Infra Projects Limited. It is led by directors including Mineel Mali Madhukar (Whole-Time Director) and Mahendra Kumar Agrawala.
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 Third Floor Plot No.3/8 Hamilton House J N Heradia Marg Ballard Estate, Mumbai, Maharashtra, India – 400038.
As per the financials filed for FY 2025, the company reported a revenue of ₹43.67 Cr, a decline of 43% compared to the previous year. For the same year it recorded a net profit of ₹540.87 Cr and EBITDA of ₹786.47 Cr.
The company has about 3 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: AJR Infra And Tolling Limited and Gammon Infrastructure Projects. As per MCA filings, the company has open charges of ₹3,495.8 Cr and satisfied charges of ₹1,289.88 Cr on record. Court records list 77 cases involving the company, including 50 filed by the company and 27 filed against it; 22 cases are pending. The company has 41 deals on record (34 market trades, 3 acquisitions, 1 qip), with disclosed funding of ₹121.74 Cr; the latest was in July 2021. Its 5 peer companies in the Infrastructure industry (Infrastructure Services, Roads and Bridges), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 2 larger and 3 smaller; the largest is Gorakhpur Infrastructure Company Private Limited with revenue of ₹44.16 Cr. The company has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 2 overdue payments to 1 micro and small supplier.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ajrinfra.in.
Company details
Name history
Ajr Infra and Tolling has undergone 5 name changes throughout its history. The current legal name is Ajr Infra And Tolling Limited.
| Company Name | Status |
|---|---|
| Ajr Infra and Tolling Limited | Current |
| Vriddhi Infrastructure Projects Limited | Previous |
| Terraform Infra Projects Limited | Previous |
| Gammon Infrastructure Projects Limited | Previous |
| Gammon Infrastructure Projects And Investments Limited | Previous |
| Ajr Infra Limited | Previous |
CIN history
Ajr Infra and Tolling has one previous CIN (Corporate Identification Number): U45203MH2001PLC131728. The current CIN is L45203MH2001PLC131728, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L45203MH2001PLC131728 | Current |
| U45203MH2001PLC131728 | Previous |
Contact details
Ajr Infra and Tolling Limited's registered office is in Mumbai, Maharashtra. Its website is ajrinfra.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressThird Floor Plot No.3/8 Hamilton House J N Heradia Marg Ballard Estate, Mumbai, Maharashtra, India – 400038
- IndustryInfrastructure and Utilities, Road & Bridge Construction, General Infrastructure Services
To see the full contact details of Ajr Infra and Tolling 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
Ajr Infra and Tolling operates two associated brands: AJR Infra And Tolling Limited and Gammon Infrastructure Projects. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Commercial properties are developed in the infrastructure sector since 2001. | gammoninfra.com | |
| Infrastructure project development on a public-private partnership basis across multiple sectors. | ajrinfra.in |
Business activity
The main business activity of Ajr Infra and Tolling is construction. In detail, this covers roads, railways, utility projects.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects |
Financials of Ajr Infra and Tolling Limited
FY 2025 filings availableAjr Infra and Tolling Limited reported revenue of ₹43.67 Cr (down 43% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 43% in the latest year. EBITDA rose 796% in the latest 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 | ₹786.47 Cr | ||||
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| Net Profit (PAT) | ₹540.87 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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To see the full financial statements and ratios of Ajr Infra and Tolling Limited, buy the company report.
Board of directors of Ajr Infra and Tolling Limited
Ajr Infra and Tolling has 6 current directors and 25 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahendra Kumar Agrawala | Director | 31 Oct 2018 | 8 Years 0 Months | Current |
| Vinod Behari Sahai Also directs: Sema Systems India Private Limited, Vizag Seaport Private Limited, Indi-Antlia Private Limited and 2 more | Director | 31 Jul 2020 | 6 Years 3 Months | Current |
| Sunilbhai Arjundas Chhabaria | Director | 31 Jul 2020 | 6 Years 3 Months | Current |
| Mineel Mali Madhukar Also directs: Vizag Seaport Private Limited | Whole-Time Director | 01 Apr 2021 | 5 Years 6 Months | Current |
| Subhrarabinda Birabar | Director | 26 Nov 2022 | 3 Years 11 Months | Current |
| Komal Goel Also directs: Exim Routes Limited | Director | 12 Feb 2025 | 1 Years 8 Months | Current |
Peer comparison
Ajr Infra and Tolling Limited is compared with the 5 companies closest to it by revenue in the Infrastructure industry (Infrastructure Services, Roads and Bridges), with the same principal business activity (roads, railways, utility projects), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Gorakhpur Infrastructure Company Private Limited | ₹44.16 Cr (FY 2024) | -11.0% | Mumbai, Maharashtra, India | |||
| Bhagabati Build & Constructions Private Limited | ₹43.98 Cr (FY 2025) | -14.0% | Cuttack, Odisha, India | |||
| Ajr Infra and Tolling Limitedthis company | ₹43.67 Cr (FY 2025) | ₹540.87 Cr | -43.0% | 3 | Mumbai, Maharashtra, India | |
| SB Engicon Private Limited | ₹43.48 Cr (FY 2023) | 29.0% | Patna, Bihar, India | |||
| Arcons-Neemdhana-Hirdagarh Projects Private Limited | ₹43.47 Cr (FY 2025) | 148071.0% | Chhindwara, Madhya Pradesh, India | |||
| Patel Bridge Nirman Private Limited | ₹43.35 Cr (FY 2025) | 36.0% | Ahmedabad, Gujarat, India |
To see the full peer comparison of Ajr Infra and Tolling Limited, buy the company report.
Auditor
Ajr Infra and Tolling Limited is audited by Natvarlal Vepari & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Natvarlal Vepari & Co | FY 2023 | 106971W |
Shareholding
The shareholding of Ajr Infra and Tolling Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ajr Infra and Tolling Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Mar 2024 | 100911050 | Idbi Bank Limited | ₹3.96 Cr | Open | |
| 30 Mar 2016 | 100018669 | Canara Bank | ₹653.89 Cr | Open | |
| 22 Mar 2016 | 100017606 | Canara Bank | ₹164 Cr | Open | |
| 20 Feb 2016 | 10624771 | Canara Bank | ₹653.89 Cr | Open | |
| 09 Sep 2015 | 10598664 | Idbi Trusteeship Services Limited | ₹350 Cr | Open |
To see the full charge records of Ajr Infra and Tolling Limited, buy the company report.
Total charge records: 15 View all charges
Deals & funding
Ajr Infra and Tolling Limited has 41 deals on record (34 market trades, 3 acquisitions, 1 qip), with disclosed funding of ₹121.74 Cr; the latest was in July 2021.
Deals on record (5 of 41)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2021 | Market trade | ₹1.77 Cr | Buyer: Topgain Finance Private Limited Seller: Topgain Finance Private Limited |
| May 2021 | Market trade | ₹79 Lakh | Buyer: Multiplier Share and Stock Advisors Private Limited Seller: Multiplier Share and Stock Advisors Private Limited |
| Mar 2021 | Market trade | ₹3.91 Cr | Buyer: Spark Mall and Parking Private Limited Seller: San Finance Corporation |
| Feb 2021 | Market trade | ₹1.89 Cr | Buyer: an individual Seller: Icici Bank Limited |
| Feb 2021 | Market trade | ₹6.57 Cr | Buyer: Connecor Investment Enterprise Limited . Seller: Icici Bank Limited |
To see the full deal history of Ajr Infra and Tolling 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
Ajr Infra and Tolling Limited has 77 court cases on record: 50 filed by Ajr Infra and Tolling, 27 filed against it. 22 cases are pending and 55 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 35 | 15 | 10 |
| NCLAT | 27 | 4 | 8 |
| District courts | 11 | 8 | 2 |
| Supreme Court | 3 | 0 | 2 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 77)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Phoenix Arc Private Limited | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by Phoenix Arc Private Limited | Pending |
| NCLAT, NCLAT New Delhi | Court case (Caveat) | Filed against the company by Phoenix Arc Private Limited | Pending |
| Supreme Court | Court case (1006-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Others) | Filed by the company against Sutanu Sinha Resolution Professional Patna Highway Projects Ltd. , Floor No.4, Duck Back House, 41, Shakespeare Sarani ,Kolkata , West Bengal and 2 others | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Great Town Trading Pvt Ltd & Anr and 1 other | Pending |
To see the full case history of Ajr Infra and Tolling 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
Ajr Infra and Tolling Limited has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 2 overdue payments to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| DJ Mediaprint & Logistics Limited |
To see the full MSME payment records of Ajr Infra and Tolling Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Ajr Infra and Tolling Limited has a workforce of 3 employees on its EPFO records as of Mar 30, 2024, across 1 active EPFO establishment.
GST
Ajr Infra and Tolling has 6 GST registrations: 3 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCG8641H1ZI | Maharashtra | Active | 01 Jul 2017 |
| 23AABCG8641H1ZQ | Madhya Pradesh | Active | 01 Jul 2017 |
| 10AABCG8641H2ZW | Bihar | Active | 06 Mar 2019 |
To see the full GST registrations and return filing status of Ajr Infra and Tolling Limited, buy the company report.
Recent activity
Ajr Infra and Tolling Limited has 53 board changes on record since 2001: 30 appointments and 23 cessations. The latest: Chaganti Srinivasu ceased to be Director on 29 Dec 2025.
71 earlier events are in the company report.
News
Frequently asked questions
Ajr Infra and Tolling is an active public limited company based in Mumbai, Maharashtra, India. The company works in road and bridge construction, within the infrastructure and utilities industry. It was incorporated on 23 April 2001 (25+ years old) and is registered under CIN L45203MH2001PLC131728.
Ajr Infra and Tolling has 6 current directors:
- Mineel Mali Madhukar - Whole-Time Director
- Mahendra Kumar Agrawala - Director
- Vinod Behari Sahai - Director
- Sunilbhai Arjundas Chhabaria - Director
- Subhrarabinda Birabar - Director
- Komal Goel - Director
The latest financial statements of Ajr Infra and Tolling on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ajr Infra and Tolling is 27AABCG8641H1ZI, registered in Maharashtra. The company has 6 GST registrations in all, of which 3 are active and 3 are cancelled or inactive. Other active GSTINs include 23AABCG8641H1ZQ (Madhya Pradesh), 10AABCG8641H2ZW (Bihar).
The CIN (Corporate Identification Number) of Ajr Infra and Tolling is L45203MH2001PLC131728. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ajr Infra and Tolling is recorded as a listed company by MCA, but trading in its shares on BSE (532959) has been suspended, so they do not currently trade on a stock exchange.
Ajr Infra and Tolling has 77 court cases on record: 50 filed by the company and 27 filed against it. 22 are pending. Most are in the high courts.
Ajr Infra and Tolling was incorporated on 23 April 2001, making it 25+ years old. It is registered with the Registrar of Companies, Mumbai.
Ajr Infra and Tolling has 41 deals on record (34 market trades, 3 acquisitions, 1 qip), with disclosed funding of ₹121.74 Cr; the latest was in July 2021.
The peers of Ajr Infra and Tolling by revenue are Gorakhpur Infrastructure Company Private Limited, Bhagabati Build & Constructions Private Limited, SB Engicon Private Limited, Arcons-Neemdhana-Hirdagarh Projects Private Limited, Patel Bridge Nirman Private Limited, all in the Infrastructure industry (Infrastructure Services, Roads and Bridges), with the same principal business activity (roads, railways, utility projects).
Chaganti Srinivasu ceased to be Director on 29 Dec 2025. Kaushal Jaykumar Shah ceased to be Company Secretary on 28 Feb 2025. Komal Goel was appointed as Director on 12 Feb 2025. Ajr Infra and Tolling has 53 board changes on record in total.
Ajr Infra and Tolling has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 2 overdue payments to 1 micro and small supplier. The latest return was filed on 31 Oct 2019.
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