India's Richest People 2026 edition · 1 director · Source: Hurun India
- #403 Virendra Mhaiskar ₹9,200 Cr
Revenue · FY 2025
₹2.58 Cr
▼ 96% YoY
Net loss · FY 2025
₹2.43 Cr
Net margin -94.4%
EBITDA · FY 2025
-₹2.08 Cr
EBITDA margin -80.9%
Authorised capital
₹61 Cr
Registered with MCA
Paid-up capital
₹61 Cr
Issued & subscribed
Open charges
₹1,741.95 Cr
Satisfied ₹514.06 Cr
Company age
49 yrs
Est. 1977
Employees · EPFO
132
Provident fund records
About Ideal Road Builders Private Limited
Data last updated:
Ideal Road Builders Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Irb Infrastructure Developers Limited. It operates in the road and bridge construction segment of the infrastructure and utilities sector. It was incorporated on 07 October 1977 and has been in existence for over 49 years.
Its director Virendra Mhaiskar is #403 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U70101MH1977PTC019903. Its GSTIN is 27AAACI0950L1ZK (Maharashtra). The company holds 3 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹61 Cr and a paid-up capital of ₹61 Cr. It was formerly known as Ideal Road Builders Limited. It is led by directors including Omprakash Singh Ashok and Deepali Virendra Mhaiskar.
Its last annual general meeting (AGM) was held on 01 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 1101 Hiranandani Knowledge Park, Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹2.58 Cr, a decline of 96% compared to the previous year. For the same year it recorded a net loss of ₹2.43 Cr (net margin -94.4%) and EBITDA of -₹2.08 Cr (EBITDA margin -80.9%). Revenue has declined at a compounded annual rate (CAGR) of 72% over three years and 55% over five years.
The company has about 132 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹1,741.95 Cr and satisfied charges of ₹514.06 Cr on record. Court records list 31 cases involving the company, including 15 filed by the company and 16 filed against it; 3 cases are pending. The company has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in October 2021. Its 5 peer companies in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 3 larger and 2 smaller; the largest is Prashanth Road Infraprojects and Developers Private Limited with revenue of ₹2.66 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website irb.co.in.
Company details
CIN U70101MH1977PTC019903
Registration Number 019903
Incorporation Date 07 October 1977
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 01 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Irb Infrastructure Developers Limited
Compliance Status Active Compliant
Recognitions & Rankings of Ideal Road Builders
Contact details
Ideal Road Builders Private Limited's registered office is in Mumbai, Maharashtra. Its website is irb.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressOff No – 11th Floor/1101 Hiranandani Knowledge Park Technology Street Hill Side Avenue Powa, I, Mumbai, Maharashtra, India – 400076
- IndustryInfrastructure and Utilities, Road & Bridge Construction
To see the full contact details of Ideal Road Builders Private Limited, buy the company report.
Comprehensive company report
Ideal Road Builders Private Limited - one report that includes everything
- 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
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Financials of Ideal Road Builders Private Limited
FY 2025 filings availableIdeal Road Builders Private Limited reported revenue of ₹2.58 Cr (down 96% YoY) for FY 2025.
Revenue · FY 2025
₹2.58 Cr ▼ 96%
Net loss · FY 2025
₹2.43 Cr margin -94.4%
EBITDA · FY 2025
-₹2.08 Cr margin -80.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 96%
3 years · compounded
▼ 72%
5 years · compounded
▼ 55%
EBITDA CAGR growth
1 year
▼ 108%
3 years · compounded
▼ 27%
5 years · compounded
▼ 15%
Revenue has declined at a compounded annual rate (CAGR) of 55% over five years, including a 96% fall in the latest year. EBITDA fell 108% 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 | -₹2.08 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹2.43 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 | -80.9% | ||||
| Net Profit Margin | -94.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Ideal Road Builders Private Limited, buy the company report.
Board of directors and KMP of Ideal Road Builders Private Limited
Ideal Road Builders Private Limited currently reports 6 directors and 2 key managerial personnel. 16 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Omprakash Singh Ashok | Director | 19 May 2020 | 6 Years 5 Months | Current |
| Nikhil Sanjeev Maniar | Additional Director | 15 Feb 2025 | 1 Years 8 Months | Current |
| Deepali Virendra Mhaiskar Also directs: Irb Infrastructure Developers Limited, Irb Holding Private Limited, VDM Ventures Private Limited and 3 more | Director | 31 Mar 2016 | 10 Years 6 Months | Current |
| Virendra Dattatraya Mhaiskar Also directs: Irb Infrastructure Developers Limited, Irb Holding Private Limited, MMK Toll Road Private Limited and 2 more | Director | 24 Oct 1993 | 33 Years 0 Months | Current |
| Rajpaul Satyapaul Sharma Also directs: Irb MP Expressway Private Limited, MRM Mining Private Limited, Irb Infra Industries Private Limited and 5 more | Ceo | 01 Apr 2025 | 1 Years 6 Months | Current |
| Satinder Singh Rana | Additional Director | 25 Sep 2025 | 1 Years 1 Months | Current |
Showing 6 of 8 current directors and KMP. View all directors and KMP
Peer comparison
Ideal Road Builders Private Limited is compared with the 5 companies closest to it by revenue in the Infrastructure industry (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 |
|---|---|---|---|---|---|---|
| Prashanth Road Infraprojects and Developers Private Limited | ₹2.66 Cr (FY 2025) | -74.0% | Bangalore, Karnataka, India | |||
| Shashank Nidhi Construction Private Limited | ₹2.65 Cr (FY 2024) | -20.0% | Jamshedpur, Jharkhand, India | |||
| Raima Toll & Infrastructure Private Limited | ₹2.63 Cr (FY 2023) | Mumbai, Maharashtra, India | ||||
| Ideal Road Builders Private Limitedthis company | ₹2.58 Cr (FY 2025) | -₹2.43 Cr | -94.4% | -96.0% | 132 | Mumbai, Maharashtra, India |
| Bihar Bitcon Private Limited | ₹2.57 Cr (FY 2023) | 163.0% | Muzaffarpur, Bihar, India | |||
| CVG Infrastructure Private Limited | ₹2.51 Cr (FY 2025) | -51.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Ideal Road Builders Private Limited, buy the company report.
Auditor
Ideal Road Builders Private Limited is audited by A. J. Kotwal & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| A. J. Kotwal & Co. LLP | FY 2023 | W100727 |
Shareholding
The shareholding of Ideal Road Builders 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 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ideal Road Builders Private Limited, buy the company report.
Charges & borrowings
Open charges
₹1,741.95 Cr
Satisfied charges
₹514.06 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 May 2022 | 100581781 | Idbi Bank Limited | ₹1.67 Cr | Open | |
| 27 Jun 2009 | 10171979 | Canara Bank | ₹1,100 Cr | Open | |
| 22 Dec 2005 | 90244446 | Sbi Bank | ₹31.25 Cr | Open | |
| 23 Aug 2005 | 90243879 | Canara Bank | ₹344.5 Cr | Open | |
| 25 Oct 2004 | 90238065 | Canara Bank | ₹116 Cr | Open |
To see the full charge records of Ideal Road Builders Private Limited, buy the company report.
Total charge records: 39 View all charges
Deals & funding
Ideal Road Builders Private Limited has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in October 2021.
Total deals
4
Secondary share transfers
3
Acquisition
1
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2021 | Acquisition | Undisclosed | Buyer: an individual Seller: Ideal Road Builders Private Limited |
| Dec 2013 | Secondary share transfer | Undisclosed | Buyer: Irb Infrastructure Developers Limited Seller: Mhaiskar Ventures, 2 individuals |
| Sep 2007 | Secondary share transfer | Undisclosed | Buyer: Irb Infrastructure Developers Limited Seller: Mhaiskar Ventures, Sagaon Energy Equipment Pvt Ltd , 2 individuals |
| Dec 2006 | Secondary share transfer | Undisclosed | Buyer: Irb Infrastructure Developers Limited Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Ideal Road Builders Private Limited has 31 court cases on record: 15 filed by Ideal Road Builders, 16 filed against it. 3 cases are pending and 28 are disposed.
Total cases
31
Filed by the company
15
Filed against the company
16
Pending
3
Disposed
28
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 14 | 10 | 1 |
| High courts | 14 | 5 | 2 |
| Supreme Court | 3 | 1 | 0 |
Cases on record (5 of 31)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Complaint ULP1) | Filed against the company by an individual | Pending |
| Bombay High Court | Appeal | Filed against the company by Regional Director, Employees State Insurance Corporation Punchdeep Bhavan | Pending |
| Bombay High Court | Writ petition | Filed by the company against State of Maharashtra and Anr. | Pending |
| Supreme Court | Court case (0433-Indirect Taxes Matters : Appeals u/s 35 L of Central Excise and Salt Act, 1944.) | Filed against the company by Commissioner of Service Tax, Mumbai R/O- 4Th Floor, New Central Excise Building Maharshi Karve Road Churchgate , District: Mumbai ,Mumbai , Maharashtra | Disposed |
| Bombay High Court | Court case (CAF) | Filed against the company by Regional Director, Employees State Insurance Corporation Punchdeep Bhavan | Disposed |
To see the full case history of Ideal Road Builders 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.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Ideal Road Builders Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Ideal Road Builders has 2 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
2
Associated companies
Employees & EPFO
Ideal Road Builders Private Limited has a workforce of 132 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
Employee count
132
Active EPFO establishments
1
Employee growth
-29.79%
GST
Ideal Road Builders has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACI0950L1ZK | Maharashtra | Active | 01 Jul 2017 |
| 24AAACI0950L2ZP | Gujarat | Active | 01 Nov 2022 |
To see the full GST registrations and return filing status of Ideal Road Builders Private Limited, buy the company report.
Recent activity
Ideal Road Builders Private Limited has 24 board changes on record since 1993: 8 appointments and 16 cessations. The latest: Satinder Singh Rana was appointed as Additional Director on 25 Sep 2025.
Appointed
Satinder Singh Rana was appointed as Additional Director.
Ceased
Satinder Singh Rana ceased to be Director.
AGM
Ideal Road Builders Private Limited last Annual general meeting of members was held on 01 Sep 2025 as per latest MCA records.
Ceased
Nikhil Sanjeev Maniar ceased to be Additional Director.
Appointed
Rajpaul Satyapaul Sharma was appointed as CEO.
Filing
Ideal Road Builders Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Ceased
Sudhir Rao Hoshing ceased to be CEO.
Appointed
Nikhil Sanjeev Maniar was appointed as Additional Director.
Charges
A charge with Idbi Bank Limited amounted to Rs. 1.67 Cr with Charge ID 100581781 was registered on 23 May 2022.
Ceased
Ajay Pralhadrao Deshmukh ceased to be Ceo(Kmp).
Ceased
Rushabh Rakesh Gandhi ceased to be CFO.
Appointed
Tushar Kantilal Kawedia was appointed as CFO.
85 earlier events are in the company report.
News
Frequently asked questions
Ideal Road Builders is an active private 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 07 October 1977 (49+ years old) and is registered under CIN U70101MH1977PTC019903.
Ideal Road Builders has 8 current directors and KMP:
- Omprakash Singh Ashok - Director
- Nikhil Sanjeev Maniar - Additional Director
- Deepali Virendra Mhaiskar - Director
- Virendra Dattatraya Mhaiskar - Director
- Satinder Singh Rana - Additional Director
- Dhananjay Krishnaji Joshi - Director
- Rajpaul Satyapaul Sharma - Ceo
- Tushar Kantilal Kawedia - Cfo
The latest financial statements of Ideal Road Builders on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 01 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ideal Road Builders is 27AAACI0950L1ZK, registered in Maharashtra. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 24AAACI0950L2ZP (Gujarat).
The CIN (Corporate Identification Number) of Ideal Road Builders is U70101MH1977PTC019903. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ideal Road Builders has 31 court cases on record: 15 filed by the company and 16 filed against it. 3 are pending. Most are in the district courts.
Ideal Road Builders was incorporated on 07 October 1977, making it 49+ years old. It is registered with the Registrar of Companies, Mumbai.
Ideal Road Builders has 4 deals on record (3 secondary share transfers, 1 acquisition); the latest was in October 2021.
The peers of Ideal Road Builders by revenue are Prashanth Road Infraprojects and Developers Private Limited, Shashank Nidhi Construction Private Limited, Raima Toll & Infrastructure Private Limited, Bihar Bitcon Private Limited, CVG Infrastructure Private Limited, all in the Infrastructure industry (Roads and Bridges), with the same principal business activity (roads, railways, utility projects).
Satinder Singh Rana was appointed as Additional Director on 25 Sep 2025. Satinder Singh Rana ceased to be Director on 25 Sep 2025. Nikhil Sanjeev Maniar ceased to be Additional Director on 31 Aug 2025. Ideal Road Builders has 24 board changes on record in total.
Ideal Road Builders can be reached through the website irb.co.in. Its registered office is in Mumbai, Maharashtra, India.