About Indore Smart City Development Limited
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Indore Smart City Development Limited is a public limited state government company based in Indore, Madhya Pradesh, India, a subsidiary of Madhya Pradesh Urban Development Co Limited. It operates in the general infrastructure services segment of the infrastructure and utilities sector. It was incorporated on 11 March 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Gwalior, under CIN U75100MP2016SGC035528. Its GSTIN is 23AAECI1074P1ZF (Madhya Pradesh). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹200 Cr and a paid-up capital of ₹200 Cr. It is led by directors including Nayan Chimanlal Parikh and Trapti Jain.
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 Smart City Office Nehru Park Campus, Indore, Madhya Pradesh, India – 452003.
As per the financials filed for FY 2025, the company reported a revenue of ₹39.16 Cr, a decline of 19% compared to the previous year. For the same year it recorded a net loss of ₹20.25 Lakh (net margin -0.5%) and EBITDA of ₹24.13 Cr (EBITDA margin 61.6%). Revenue has declined at a compounded annual rate (CAGR) of 12% over three years and 5% over five years.
The company has about 28 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Smart City Indore. Court records list 11 cases involving the company, including 11 filed against it; 4 cases are pending. The company has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹103.46 Cr; the latest was in March 2019.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website smartcityindore.org.
Company details
Contact details
Indore Smart City Development Limited's registered office is in Indore, Madhya Pradesh. Its website is smartcityindore.org. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressSmart City Office Nehru Park Campus, Indore, Madhya Pradesh, India – 452003
- IndustryInfrastructure and Utilities, General Infrastructure Services
To see the full contact details of Indore Smart City Development 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
Indore Smart City Development operates one associated brand: Smart City Indore. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Urban development, smart city initiatives, and innovation support in Indore. | smartcityindore.org |
Business activity
The main business activities of Indore Smart City Development are public services by government agencies and professional, scientific and technical. In detail, this covers administration relating to executive, legislation and other public service by government agencies and other professional, scientific and technical activities. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| O | Public Services by Government agencies | O1 | Administration relating to Executive, Legislation and other public service by government agencies | |
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities |
To see the full business activity and turnover split of Indore Smart City Development Limited, buy the company report.
Financials of Indore Smart City Development Limited
FY 2025 filings availableIndore Smart City Development Limited reported revenue of ₹39.16 Cr (down 19% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 5% over five years, including a 19% fall in the latest year. EBITDA fell 13% 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 | ₹24.13 Cr | ||||
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| Net Profit (PAT) | -₹20.25 Lakh | ||||
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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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| Profitability | |||||
| EBITDA Margin | 61.6% | ||||
| Net Profit Margin | -0.5% | ||||
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To see the full financial statements and ratios of Indore Smart City Development Limited, buy the company report.
Board of directors and KMP of Indore Smart City Development Limited
Indore Smart City Development Limited currently reports 11 directors and 1 key managerial person. 45 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nayan Chimanlal Parikh | Director | 22 Feb 2020 | 6 Years 8 Months | Current |
| Trapti Jain Also directs: Inductsense Private Limited, Satna Smart City Development Limited | Director | 24 Dec 2021 | 4 Years 10 Months | Current |
| Kaamesh Shrivastava | Nominee Director | 03 Dec 2025 | 0 Years 10 Months | Current |
| Arth Jain | Ceo | 23 Dec 2025 | 0 Years 10 Months | Current |
| Dileep Kumar Yadav Also directs: Indore Idea Factory Foundation | Nominee Director | 29 Oct 2025 | 1 Years 0 Months | Current |
| Sanjay Kumar | Nominee Director | 13 Nov 2025 | 0 Years 11 Months | Current |
Auditor
Indore Smart City Development Limited is audited by MEHTA & BHORASKAR for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MEHTA & BHORASKAR | FY 2023 | 008016C |
Shareholding
The shareholding of Indore Smart City Development 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 Indore Smart City Development Limited, buy the company report.
Deals & funding
Indore Smart City Development Limited has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹103.46 Cr; the latest was in March 2019.
Deals on record (2 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2018 | Rights issue | ₹96.44 Cr | Investors: Madhya Pradesh Urban Development Company Limited, Indore Municipal Corporation |
| May 2016 | Funding round | ₹103.46 Cr | Investors: Indore Municipal Corporation, Madhya Pradesh Urban Development Company Limited |
To see the full deal history of Indore Smart City Development 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
Indore Smart City Development Limited has 11 court cases on record: 11 filed against it. 4 cases are pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 5 | 5 | 2 |
| District courts | 3 | 3 | 1 |
| Supreme Court | 3 | 3 | 1 |
Cases on record (5 of 11)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Madhya Pradesh | Writ petition | Filed against the company by M/S Prakash Reflective Devices Pvt. Ltd. Having Its Registered | Pending |
| High Court of Jharkhand | Writ petition | Filed against the company by M/S Knospe and Co. LLP Duly Represented Thro Its Authorized Signatory Namely Mr. Arbind Kumar Mehta | Disposed |
| Supreme Court | Court case (4202-MATTERS RELATING TO LEASES, GOVT. CONTRACTS & CONTRACTS BY LOCAL BODIES : Tenders invited or contracts awarded/leases granted or determined by public sector undertaking) | Filed against the company by M/S Prakash Reflective Devices Pvt.Ltd Through Its Managing Director Reg Office at A-13, Partapur Industrial Estate , District: Meerut ,Meerut , Uttar Pradesh | Disposed |
| District court, Indore, Madhya Pradesh | Court case (MJC) | Filed against the company by an individual | Pending |
| Supreme Court | Court case (4202-MATTERS RELATING TO LEASES, GOVT. CONTRACTS & CONTRACTS BY LOCAL BODIES : Tenders invited or contracts awarded/leases granted or determined by public sector undertaking) | Filed against the company by Union of India THR. Secretary Ministry of Communications, Sanchar Bhawan, 20 Ashoka Road , District: New Delhi ,New Delhi , Delhi | Pending |
To see the full case history of Indore Smart City Development 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 Indore Smart City Development Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Indore Smart City Development has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Indore Idea Factory Foundation | U93000MP2022NPL059110 |
To see the full group structure of Indore Smart City Development Limited, buy the company report.
Employees & EPFO
Indore Smart City Development Limited has a workforce of 28 employees on its EPFO records as of Oct 15, 2024, across 1 active EPFO establishment.
GST
Indore Smart City Development has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 23AAECI1074P1ZF | Madhya Pradesh | Active | 01 Jul 2017 |
| 23AAECI1074P1DO | Madhya Pradesh | Active | 27 Oct 2018 |
To see the full GST registrations and return filing status of Indore Smart City Development Limited, buy the company report.
Recent activity
Indore Smart City Development Limited has 100 board changes on record since 2016: 56 appointments and 44 cessations. The latest: Arth Jain was appointed as CEO on 23 Dec 2025.
91 earlier events are in the company report.
Frequently asked questions
Indore Smart City Development is an active public limited state government company based in Indore, Madhya Pradesh, India. The company works in general infrastructure services, within the infrastructure and utilities industry. It was incorporated on 11 March 2016 (10+ years old) and is registered under CIN U75100MP2016SGC035528.
Indore Smart City Development has 12 current directors and KMP:
- Nayan Chimanlal Parikh - Director
- Trapti Jain - Director
- Kaamesh Shrivastava - Nominee Director
- Dileep Kumar Yadav - Nominee Director
- Sanjay Kumar - Nominee Director
- Parikshit Sanjayrao Zade - Nominee Director
- Mahesh Choudhary - Nominee Director
- Kailash Wankhede - Nominee Director
- Shivam Verma - Nominee Director
- Tanvi Garg - Nominee Director
- Shubhashish Banerjee - Nominee Director
- Arth Jain - Ceo
The latest financial statements of Indore Smart City Development 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 FY 2016 are in the company report.
The GSTIN of Indore Smart City Development is 23AAECI1074P1ZF, registered in Madhya Pradesh. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 23AAECI1074P1DO (Madhya Pradesh).
The CIN (Corporate Identification Number) of Indore Smart City Development is U75100MP2016SGC035528. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indore Smart City Development has 11 court cases on record: 11 filed against it. 4 are pending. Most are in the high courts.
Indore Smart City Development was incorporated on 11 March 2016, making it 10+ years old. It is registered with the Registrar of Companies, Gwalior.
Indore Smart City Development has 5 deals on record (3 secondary share transfers, 1 rights issue, 1 funding round), with disclosed funding of ₹103.46 Cr; the latest was in March 2019.
Arth Jain was appointed as CEO on 23 Dec 2025. Kaamesh Shrivastava was appointed as Nominee Director on 03 Dec 2025. Sanjay Kumar was appointed as Nominee Director on 13 Nov 2025. Indore Smart City Development has 100 board changes on record in total.
Indore Smart City Development can be reached through the website smartcityindore.org. Its registered office is in Indore, Madhya Pradesh, India.
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