About Hazaribagh Ranchi Expressway Limited
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Hazaribagh Ranchi Expressway Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Roadstar Infra Investment Trust. It operates in the general construction services segment of the infrastructure and utilities sector. It was incorporated on 19 March 2009 and has been in existence for over 17 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45203MH2009PLC191070. Its GSTIN is 27AACCH2490J1ZG (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹132 Cr and a paid-up capital of ₹131 Cr. It was formerly known as Itnl Highways Development Company Limited. It is led by directors including Sunil Hemchand Patel and Liju Varughese Rajan Kolath.
Its last annual general meeting (AGM) was held on 21 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at The Il&Fs Financial Center Plot C – 22 G Block Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra, India – 400051.
As per the financials filed for FY 2026, the company reported a revenue of ₹45.48 Cr, a decline of 12% compared to the previous year. For the same year it recorded a net loss of ₹38.58 Cr (net margin -84.8%) and EBITDA of -₹15.25 Cr (EBITDA margin -33.5%). Revenue has declined at a compounded annual rate (CAGR) of 41% over three years and 15% over five years.
The company is associated with 1 brand: IL&FS Transportation. As per MCA filings, the company has open charges of ₹715 Cr and satisfied charges of ₹688.18 Cr on record. Court records list 9 cases involving the company, including 4 filed by the company and 5 filed against it; 3 cases are pending. The company has 3 deals on record (3 secondary share transfers); the latest was in December 2022. The company has 2 MSME Form 1 returns on record for the period ending Sep 2021, listing 4 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 itnlindia.com.
Company details
Contact details
Hazaribagh Ranchi Expressway Limited's registered office is in Mumbai, Maharashtra. Its website is itnlindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressThe Il&Fs Financial Center Plot C – 22 G Block Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra, India – 400051
- IndustryInfrastructure and Utilities, General Construction Services, Road & Bridge Construction
To see the full contact details of Hazaribagh Ranchi Expressway 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
Hazaribagh Ranchi Expressway operates one associated brand: IL&FS Transportation. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Developer and operator of transportation infrastructure projects, including highways and tunnels | itnlindia.com |
Business activity
The main business activity of Hazaribagh Ranchi Expressway is construction. In detail, this covers civil engineering.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | 42 | Civil engineering |
To see the full business activity and turnover split of Hazaribagh Ranchi Expressway Limited, buy the company report.
Financials of Hazaribagh Ranchi Expressway Limited
FY 2026 filings availableHazaribagh Ranchi Expressway Limited reported revenue of ₹45.48 Cr (down 12% YoY) for FY 2026.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 15% over five years, including a 12% fall in the latest year. EBITDA fell 249% 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 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹45.48 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | -₹15.25 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹38.58 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -33.5% | ||||
| Net Profit Margin | -84.8% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Hazaribagh Ranchi Expressway Limited, buy the company report.
Board of directors of Hazaribagh Ranchi Expressway Limited
Hazaribagh Ranchi Expressway has 5 current directors and 37 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sunil Hemchand Patel Also directs: Manoj Ceramic Limited, Suba Hotels Limited, Pune Sholapur Road Development Company Limited and 5 more | Director | 13 Feb 2023 | 3 Years 8 Months | Current |
| Liju Varughese Rajan Kolath | Director | 13 Feb 2023 | 3 Years 8 Months | Current |
| Ravi Praveen Kumar Also directs: Pune Sholapur Road Development Company Limited, Moradabad Bareilly Expressway Limited, East Hyderabad Expressway Limited and 1 more | Nominee Director | 04 Mar 2024 | 2 Years 8 Months | Current |
| Milind Ramesh Gandhi | Nominee Director | 04 Mar 2024 | 2 Years 8 Months | Current |
| Jyotsna Shyamkant Matondkar Also directs: Pune Sholapur Road Development Company Limited, Sikar Bikaner Highway Limited, Moradabad Bareilly Expressway Limited and 1 more | Nominee Director | 20 Dec 2022 | 3 Years 10 Months | Current |
Auditor
Hazaribagh Ranchi Expressway Limited is audited by K. S. Aiyar & Co. for the financial year 2026.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K. S. Aiyar & Co. | FY 2026 | 100186W |
Shareholding
The shareholding of Hazaribagh Ranchi Expressway Limited is on record for 5 financial years, the latest being FY 2026, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Hazaribagh Ranchi Expressway Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Feb 2017 | 100085411 | Idbi Trusteeship Services Limited | ₹715 Cr | Open | |
| 27 Mar 2015 | 10566341 | Ilandfs Trust Company Limited | ₹170 Cr | Satisfied | |
| 09 Feb 2010 | 10201359 | Il&Fs Trust Company Limited | ₹518.18 Cr | Satisfied |
To see the full charge records of Hazaribagh Ranchi Expressway Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Hazaribagh Ranchi Expressway Limited has 3 deals on record (3 secondary share transfers); the latest was in December 2022.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2022 | Secondary share transfer | Undisclosed | Buyer: Roadstar Infra Investment Trust Seller: Il&Fs Transportation Networks Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Il&Fs Transportation Networks Limited Seller: Punj-Lloyd Limited |
| Aug 2009 | Secondary share transfer | Undisclosed | Buyer: Punj-Lloyd Limited Seller: Il&Fs Transportation Networks Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Hazaribagh Ranchi Expressway Limited has 9 court cases on record: 4 filed by Hazaribagh Ranchi Expressway, 5 filed against it. 3 cases are pending and 6 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 1 | 2 |
| Supreme Court | 4 | 4 | 1 |
Cases on record (5 of 9)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1003-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters arising out of orders of Company Law Board under Section 397 & 398 of Companies Act, 1956) | Filed against the company by L and T Infra Debt Fund Limited Ankur Saboo, Chief Manager Plot No. 177, CTS No. 6970,6971, Vidyanagari Marg CST Rod, Kalina, Santacruz (East) ,Mumbai , Maharashtra and 2 others | Pending |
| Supreme Court | Court case (1003-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters arising out of orders of Company Law Board under Section 397 & 398 of Companies Act, 1956) | Filed against the company by L and T Infrastructure Finance Company Limited Brindavan, Plot No. 177, C.S.T Road Kalina, Santacruz East , District: Mumbai , , Maharashtra and 2 others | Disposed |
| High Court | Tax appeal | Filed by the company against Asstt / Dy Commissioner of ) Income Tax Circle 14( and 2 others | Pending |
| High Court | Tax appeal | Filed by the company against Asstt / Dy Commissioner of Income Tax Circle 14( and 2 others | Pending |
| Supreme Court | Court case (1003-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters arising out of orders of Company Law Board under Section 397 & 398 of Companies Act, 1956) | Filed against the company by HDFC Mutual Fund (Through HDFC Asset Management Company Limited) Through Manager Sales Chandradeep Sharma HDFC House, 2Nd Floor, H.T. Parekh Marg, 165-166, Backbay Reclamation ,Mumbai , Maharashtra | Disposed |
To see the full case history of Hazaribagh Ranchi Expressway 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
Hazaribagh Ranchi Expressway Limited was last rated by Care on 31 May 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 31 May 2022 |
To see the full credit ratings and regulatory alerts of Hazaribagh Ranchi Expressway Limited, buy the company report.
MSME payment delays
Hazaribagh Ranchi Expressway Limited has 2 MSME Form 1 returns on record for the period ending Sep 2021, listing 4 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 |
|---|---|---|---|
| Chivilkar Solanki & Associates |
To see the full MSME payment records of Hazaribagh Ranchi Expressway Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Hazaribagh Ranchi Expressway has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AACCH2490J1ZG | Maharashtra | Active | 01 Jul 2017 |
| 20AACCH2490J1ZU | Jharkhand | Active | 29 Aug 2017 |
To see the full GST registrations and return filing status of Hazaribagh Ranchi Expressway Limited, buy the company report.
Recent activity
Hazaribagh Ranchi Expressway Limited has 36 board changes on record since 2009: 5 appointments and 31 cessations. The latest: Milind Ramesh Gandhi ceased to be Additional Director on 28 May 2024.
33 earlier events are in the company report.
News
Frequently asked questions
Hazaribagh Ranchi Expressway is an active public limited company based in Mumbai, Maharashtra, India. The company works in general construction services, within the infrastructure and utilities industry. It was incorporated on 19 March 2009 (17+ years old) and is registered under CIN U45203MH2009PLC191070.
Hazaribagh Ranchi Expressway has 5 current directors:
- Sunil Hemchand Patel - Director
- Liju Varughese Rajan Kolath - Director
- Ravi Praveen Kumar - Nominee Director
- Milind Ramesh Gandhi - Nominee Director
- Jyotsna Shyamkant Matondkar - Nominee Director
The latest financial statements of Hazaribagh Ranchi Expressway on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 21 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Hazaribagh Ranchi Expressway is 27AACCH2490J1ZG, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 20AACCH2490J1ZU (Jharkhand).
The CIN (Corporate Identification Number) of Hazaribagh Ranchi Expressway is U45203MH2009PLC191070. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Hazaribagh Ranchi Expressway has 9 court cases on record: 4 filed by the company and 5 filed against it. 3 are pending. Most are in the high courts.
Hazaribagh Ranchi Expressway was incorporated on 19 March 2009, making it 17+ years old. It is registered with the Registrar of Companies, Mumbai.
Hazaribagh Ranchi Expressway has 3 deals on record (3 secondary share transfers); the latest was in December 2022.
Milind Ramesh Gandhi ceased to be Additional Director on 28 May 2024. Ravi Praveen Kumar ceased to be Additional Director on 28 May 2024. Milind Ramesh Gandhi was appointed as Nominee Director on 04 Mar 2024. Hazaribagh Ranchi Expressway has 36 board changes on record in total.
Hazaribagh Ranchi Expressway has 2 MSME Form 1 returns on record for the period ending Sep 2021, listing 4 overdue payments to 1 micro and small supplier. The latest return was filed on 02 Nov 2021.
Hazaribagh Ranchi Expressway can be reached through the website itnlindia.com. Its registered office is in Mumbai, Maharashtra, India.
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