About Island Star Mall Developers Private Limited
Data last updated:
Island Star Mall Developers Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of The Phoenix Mills Limited. It operates in the mall and retail management segment of the business services sector. It was incorporated on 10 April 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH2006PTC161067. Its GSTIN is 27AABCI4988F1ZA (Maharashtra). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹285 Cr and a paid-up capital of ₹233.11 Cr. It is led by directors including Sanjay Sudam Wagaskar (Managing Director) and Gajendra Rathaur Singh (Managing Director).
Its last annual general meeting (AGM) was held on 04 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹946.37 Cr, a growth of 47% compared to the previous year. For the same year it recorded a net profit of ₹391.68 Cr (net margin 41.4%) and EBITDA of ₹616.92 Cr (EBITDA margin 65.2%). Revenue has grown at a compounded annual rate (CAGR) of 71% over three years and 32% over five years.
The company has about 67 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
The company is associated with 2 brands: Phoenix Mills and Phoenix Marketcity. As per MCA filings, the company has open charges of ₹800 Cr and satisfied charges of ₹1,629 Cr on record. Court records list 43 cases involving the company, including 32 filed by the company and 8 filed against it; 9 cases are pending. The company has 22 deals on record (11 secondary share transfers, 9 funding rounds, 2 rights issues), with disclosed funding of ₹1,758.01 Cr; the latest was in December 2021. Its 9 peer companies in the Business Services industry (Mall Management) are compared by revenue, 4 larger and 5 smaller; the largest is Mahadhan Agritech Limited with revenue of ₹5,453.49 Cr. The company has 7 MSME Form 1 returns on record between 2020 and 2024, listing 7 overdue payments to 2 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 phoenixmarketcity.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressC/O Marketcity Resources Pvt Ltd R Hosiery Bldg Gr Floor Laxmi Woollen Mills Estate Ma, Halaxmi, Mumbai, Maharashtra, India – 400011
- IndustryBusiness Services, Mall & Retail Management
- 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
Business Activity of Island Star Mall Developers Private Limited
The main business activity of Island Star Mall Developers is real estate. In detail, this covers real estate activities with own or leased property.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property | 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 Island Star Mall Developers Private Limited FY 2025 filings available
Island Star Mall Developers Private Limited reported revenue of ₹946.37 Cr (up 47% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Island Star Mall Developers Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 32% over five years, including 47% growth in the latest year. EBITDA rose 48% 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 of Island Star Mall Developers 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 | ₹616.92 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹391.68 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 Island Star Mall Developers Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 65.2% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 41.4% | •••• | •••• | •••• | •••• |
| 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 Island Star Mall Developers 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.
Peer Comparison of Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited is compared with the companies closest to it by revenue in the Business Services industry (Mall Management). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mahadhan Agritech Limited | ₹5,453.49 Cr (FY 2025) | •••• | •••• | 30.0% | •••• | Pune, Maharashtra, India |
| Lulu International Shopping Malls Private Limited | ₹4,999.08 Cr (FY 2025) | •••• | •••• | 26.0% | •••• | Ernakulam, Kerala, India |
| The Phoenix Mills Limited Listed | ₹3,964.47 Cr (FY 2025) | •••• | •••• | -4.0% | •••• | Mumbai, Maharashtra, India |
| Grauer and Weil (India) Limited Listed | ₹1,180.04 Cr (FY 2025) | •••• | •••• | 7.0% | •••• | Mumbai, Maharashtra, India |
| Island Star Mall Developers Private Limited this company | ₹946.37 Cr (FY 2025) | •••• | •••• | 47.0% | •••• | Mumbai, Maharashtra, India |
| Rostrum Realty Private Limited | ₹748.81 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Mini Sectt, Haryana, India |
| Inorbit Malls (India) Private Limited | ₹740.44 Cr (FY 2025) | •••• | •••• | 16.0% | •••• | Mumbai, Maharashtra, India |
| Lulu India Shopping Mall Private Limited | ₹619.27 Cr (FY 2025) | •••• | •••• | 14.0% | •••• | Ernakulam, Kerala, India |
| Select Infrastructure Private Limited | ₹605.48 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Thane, Maharashtra, India |
| Kashvi Power & Steel Private Limited | ₹517.08 Cr (FY 2024) | •••• | •••• | 31.0% | •••• | Bhubaneswar, Odisha, India |
Peers are the five companies nearest above and the five nearest below Island Star Mall Developers by revenue in the Business Services industry (Mall Management), 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 Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited is audited by Price Waterhouse Chartered Accountants LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Price Waterhouse Chartered Accountants 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.
Board of Directors and KMP of Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited currently reports 6 directors and 1 key managerial person. 35 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sumeet Anand Also directs: Indwest Advisors LLP, The Phoenix Mills Limited, Palladium Constructions Private Limited and 5 more | Director | 10 Oct 2024 | 2 Years 0 Months | Current |
| Varun Parwal | Director | 26 Nov 2022 | 3 Years 10 Months | Current |
| Sanjay Sudam Wagaskar Also directs: Mindstone Mall Developers Private Limited, Sheela Traders Private Limited, Shanthi Chandran Enterprisers Private Limited and 5 more | Managing Director | 18 Jul 2024 | 2 Years 2 Months | Current |
| Chalsani Rohan | Director | 02 Aug 2024 | 2 Years 2 Months | Current |
| Rajesh Meharia Also directs: Chonrev Retail Private Limited | Cfo | 22 Jul 2024 | 2 Years 2 Months | Current |
| Shweta Pradeep Vyas Also directs: Vamona Developers Private Limited, Alliance Spaces Private Limited, Offbeat Developers Private Limited and 4 more | Director | 27 Mar 2018 | 8 Years 6 Months | Current |
Ownership and Shareholding of Island Star Mall Developers 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 Island Star Mall Developers Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 27 Aug 2022 | Others | ₹800 Cr | Open |
| 13 Jul 2021 | Others | ₹325 Cr | Satisfied |
| 19 Jul 2017 | Others | ₹160 Cr | Satisfied |
| 24 Jul 2015 | Idbi Trusteeship Services Limited | ₹305 Cr | Satisfied |
| 05 Jun 2012 | Idbi Trusteeship Services Limited | ₹400 Cr | Satisfied |
Total charge records: 8 View all charges
Deals & Funding of Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited has 22 deals on record (11 secondary share transfers, 9 funding rounds, 2 rights issues), with disclosed funding of ₹1,758.01 Cr; the latest was in December 2021.
Deals on record (5 of 22)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2021 | Rights issue | ₹700 Cr | Investors: The Phoenix Mills Limited , CPPIB |
| Jun 2021 | Rights issue | ₹400 Cr | Investors: The Phoenix Mills Limited , CPPIB |
| Apr 2017 | Funding round · Series B | ₹50 Cr | Investors: The Phoenix Mills Limited |
| Apr 2017 | Secondary share transfer | Undisclosed | Buyer: CPPIB Seller: The Phoenix Mills Limited |
| Dec 2016 | Secondary share transfer | Undisclosed | Buyer: The Phoenix Mills Limited Seller: Pinnacle Real Estate Development Private Limited |
Full deal history
All 22 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 Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited has 43 court cases on record: 32 filed by Island Star Mall Developers, 8 filed against it, 3 where it is another party. 9 cases are pending and 34 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 22 | 1 | 5 |
| District courts | 21 | 7 | 4 |
Cases on record (5 of 43)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against Tablez & Toyz Private Limited | Disposed |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against C S Creamery Private Limited | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Cases SS) | Filed by the company against Smaaash Leisure Limited | Disposed |
| District court, BENGALURU, Karnataka | Civil suit | Filed against the company by Ace Experiences Asia Private Limited | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Secret Recipe Restaurants I Private Limited | Disposed |
Full case history
All 43 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 Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited has 7 MSME Form 1 returns on record between 2020 and 2024, listing 7 overdue payments to 2 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 (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Unifynd Technologies Private Limited | •••• | •••• | •••• |
| Diya Energy | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 7 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.
Associated Brands with Island Star Mall Developers Private Limited
Island Star Mall Developers operates two associated brands: Phoenix Mills and Phoenix Marketcity. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Residential and commercial property development services are provided. | thephoenixmills.com | |
| Multi-format retail mall chain, offering a range of retail, dining, and entertainment options to its customers across various locations | phoenixmarketcity.com |
Employees and EPFO Compliance at Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited has a workforce of 67 employees as of Apr 08, 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.
Group Structure of Island Star Mall Developers Private Limited
Island Star Mall Developers has 3 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Insight Mall Developers Private Limited | U55101MH2007PTC169124 | Locked |
| Alyssum Developers Private Limited | U70109MH2017PTC292588 | Locked |
| Sparkle One Mall Developers Private Limited | U70109MH2017PTC299103 | Locked |
Showing major subsidiaries. Total: 3.
News related to Island Star Mall Developers Private Limited
Recent Activity on Island Star Mall Developers Private Limited
Island Star Mall Developers Private Limited has 39 board changes on record since 2008: 7 appointments and 32 cessations. The latest: Sumeet Anand ceased to be Additional Director on 03 Sep 2025.
49 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Island Star Mall Developers 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 Island Star Mall Developers 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 Island Star Mall Developers Private Limited
Island Star Mall Developers has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCI4988F1ZA | Maharashtra | Active | 01 Jul 2017 |
| 29AABCI4988F1Z6 | Karnataka | 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 Island Star Mall Developers 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.
Frequently Asked Questions about Island Star Mall Developers Private Limited
Island Star Mall Developers is an active private limited company based in Mumbai, Maharashtra, India. The company works in mall and retail management, within the business services industry. It was incorporated on 10 April 2006 (20+ years old) and is registered under CIN U45200MH2006PTC161067.
Island Star Mall Developers reported revenue of ₹946.37 Cr for FY 2025 (up 47% YoY).
Island Star Mall Developers has 7 current directors and KMP:
- Sanjay Sudam Wagaskar - Managing Director
- Gajendra Rathaur Singh - Managing Director
- Sumeet Anand - Director
- Varun Parwal - Director
- Chalsani Rohan - Director
- Shweta Pradeep Vyas - Director
- Rajesh Meharia - Cfo
Island Star Mall Developers reported a net profit of ₹391.68 Cr (net margin 41.4%) and EBITDA of ₹616.92 Cr (EBITDA margin 65.2%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Island Star Mall Developers is 71% over three years and 32% over five years. In the latest year (FY 2025) revenue rose 47%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Island Star Mall Developers is 27AABCI4988F1ZA, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 29AABCI4988F1Z6 (Karnataka).
The CIN (Corporate Identification Number) of Island Star Mall Developers is U45200MH2006PTC161067. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Island Star Mall Developers has 43 court cases on record: 32 filed by the company and 8 filed against it. 9 are pending. Most are in the high courts.
Island Star Mall Developers was incorporated on 10 April 2006, making it 20+ years old. It is registered with the Registrar of Companies, Mumbai.
Island Star Mall Developers has 22 deals on record (11 secondary share transfers, 9 funding rounds, 2 rights issues), with disclosed funding of ₹1,758.01 Cr; the latest was in December 2021.
The peers of Island Star Mall Developers by revenue are Mahadhan Agritech Limited, Lulu International Shopping Malls Private Limited, The Phoenix Mills Limited, Grauer and Weil (India) Limited, Rostrum Realty Private Limited and 4 more, all in the Business Services industry (Mall Management).
Sumeet Anand ceased to be Additional Director on 03 Sep 2025. Sumeet Anand was appointed as Director on 10 Oct 2024. Chalsani Rohan ceased to be Additional Director on 10 Sep 2024. Island Star Mall Developers has 39 board changes on record in total.