About Karnataka Bhovi Development Corporation
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Karnataka Bhovi Development Corporation is a private not for profit company based in Bangalore, Karnataka, India. It operates in the financial services and investment segment of the financial services sector. It was incorporated on 26 May 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U74999KA2016NPL093608. Its GSTIN is 29AAAGK0319M1Z9 (Karnataka).
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors including Umlanaik Chandranaik (Managing Director) and Rakesh Kumar Krishna Murthy.
Its last annual general meeting (AGM) was held on 27 November 2024, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2023, the company reported a revenue of ₹4.97 Cr, a decline of 7% compared to the previous year. For the same year it recorded a net loss of ₹10.33 Cr (net margin -207.8%) and EBITDA of -₹10.18 Cr (EBITDA margin -204.8%). Revenue has grown at a compounded annual rate (CAGR) of 17% over three years and 7% over five years.
Court records list 8 cases involving the company, including 8 filed against it; 2 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website kbdc.karnataka.gov.in.
Company details
Contact details
Karnataka Bhovi Development Corporation's registered office is in Bangalore, Karnataka. Its website is kbdc.karnataka.gov.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered Address20th Floor, Visweswaraiah Main Tower, Bangalore, Karnataka, India – 560001
- IndustryFinancial Services, Financial Activities
To see the full contact details of Karnataka Bhovi Development Corporation, 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
Business activity
The main business activity of Karnataka Bhovi Development Corporation is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Karnataka Bhovi Development Corporation, buy the company report.
Financials of Karnataka Bhovi Development Corporation
FY 2023 filings availableKarnataka Bhovi Development Corporation reported revenue of ₹4.97 Cr (down 7% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue fell 7% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 7%. EBITDA fell 558% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
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| EBITDA | -₹10.18 Cr | ||||
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| Net Profit (PAT) | -₹10.33 Cr | ||||
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Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
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| Profitability | |||||
| EBITDA Margin | -204.8% | ||||
| Net Profit Margin | -207.8% | ||||
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To see the full financial statements and ratios of Karnataka Bhovi Development Corporation, buy the company report.
Board of directors of Karnataka Bhovi Development Corporation
Karnataka Bhovi Development Corporation has 3 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rakesh Kumar Krishna Murthy | Director | 18 Apr 2022 | 4 Years 6 Months | Current |
| Umlanaik Chandranaik | Managing Director | 31 Jul 2024 | 2 Years 2 Months | Current |
| Ponnaiah Manivannan | Nominee Director | 18 Sep 2025 | 1 Years 1 Months | Current |
Peer comparison
Karnataka Bhovi Development Corporation is compared with the 10 companies closest to it by revenue in the same principal business activity (other financial activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Avee Travel & Forex Private Limited | ₹4.98 Cr (FY 2021) | Delhi, India | ||||
| Sonthalia Capital Private Limited | ₹4.98 Cr (FY 2025) | -60.0% | Kolkata, West Bengal, India | |||
| R. K. Stock Holding Private Limited | ₹4.98 Cr (FY 2025) | 76.0% | New Delhi, Delhi, India | |||
| Manmal Marketing Limited | ₹4.97 Cr (FY 2025) | 345.0% | Delhi, India | |||
| Kothari Industrial Development Corporation Ltd | ₹4.97 Cr (FY 2025) | 9.0% | Kolkata, West Bengal, India | |||
| Karnataka Bhovi Development Corporationthis company | ₹4.97 Cr (FY 2023) | -₹10.33 Cr | -207.8% | -7.0% | Bangalore, Karnataka, India | |
| Dhanik Advisors Private Limited | ₹4.97 Cr (FY 2024) | 164.0% | Buldhana, Maharashtra, India | |||
| Atit Commercial Co Pvt Ltd | ₹4.97 Cr (FY 2024) | -28.0% | Kolkata, West Bengal, India | |||
| Agf Finlease (India) Limited | ₹4.97 Cr (FY 2024) | 88.0% | Delhi, India | |||
| Uppercrust Wealth Private Limited | ₹4.96 Cr (FY 2025) | 44.0% | Vadodara, Gujarat, India | |||
| Innovative Financial Management Private Limited | ₹4.96 Cr (FY 2025) | 3.0% | Chandigarh, India |
To see the full peer comparison of Karnataka Bhovi Development Corporation, buy the company report.
Auditor
Karnataka Bhovi Development Corporation is audited by KRISHNANANDA NAYAK & CO for the financial year 2021.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| KRISHNANANDA NAYAK & CO | FY 2021 | 001542S |
Shareholding
The shareholding of Karnataka Bhovi Development Corporation is on record for 5 financial years, the latest being FY 2021, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Karnataka Bhovi Development Corporation, buy the company report.
Legal cases
Karnataka Bhovi Development Corporation has 8 court cases on record: 8 filed against it. 2 cases are pending and 6 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 8 | 8 | 2 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, KARNATAKA | Writ petition | Filed against the company by Innovative Equipments Pvt. Ltd. and 2 others | Disposed |
| High Court, KARNATAKA | Writ petition | Filed against the company by M/S Mahavir Submersibles Pvt Ltd and 11 others | Disposed |
| High Court, KARNATAKA | Appeal | Filed against the company by Innovative Equipments Pvt. Ltd., and 2 others | Disposed |
| High Court | Writ petition | Filed against the company by M/S Panchamukhi Borewells and 1 other | Pending |
| High Court | Writ petition | Filed against the company by individuals | Pending |
To see the full case history of Karnataka Bhovi Development Corporation, 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 Karnataka Bhovi Development Corporation; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Karnataka Bhovi Development Corporation has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAAGK0319M1Z9 | Karnataka | Active | 06 Apr 2018 |
To see the full GST registrations and return filing status of Karnataka Bhovi Development Corporation, buy the company report.
Recent activity
Karnataka Bhovi Development Corporation has 18 board changes on record since 2017: 9 appointments and 9 cessations. The latest: Ponnaiah Manivannan was appointed as Nominee Director on 18 Sep 2025.
9 earlier events are in the company report.
Frequently asked questions
Karnataka Bhovi Development Corporation is an active private not for profit company based in Bangalore, Karnataka, India. The company works in financial activities, within the financial services industry. It was incorporated on 26 May 2016 (10+ years old) and is registered under CIN U74999KA2016NPL093608.
Karnataka Bhovi Development Corporation has 3 current directors:
- Umlanaik Chandranaik - Managing Director
- Rakesh Kumar Krishna Murthy - Director
- Ponnaiah Manivannan - Nominee Director
The latest financial statements of Karnataka Bhovi Development Corporation on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 27 November 2024. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Karnataka Bhovi Development Corporation is 29AAAGK0319M1Z9, registered in Karnataka.
The CIN (Corporate Identification Number) of Karnataka Bhovi Development Corporation is U74999KA2016NPL093608. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Karnataka Bhovi Development Corporation has 8 court cases on record: 8 filed against it. 2 are pending.
Karnataka Bhovi Development Corporation was incorporated on 26 May 2016, making it 10+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Karnataka Bhovi Development Corporation by revenue are Avee Travel & Forex Private Limited, Sonthalia Capital Private Limited, R. K. Stock Holding Private Limited, Manmal Marketing Limited, Kothari Industrial Development Corporation Ltd and 5 more, all in the same principal business activity (other financial activities).
Ponnaiah Manivannan was appointed as Nominee Director on 18 Sep 2025. Munilakkappa Sulthanpet Mangala ceased to be Managing Director on 31 Jul 2024. Umlanaik Chandranaik was appointed as Managing Director on 31 Jul 2024. Karnataka Bhovi Development Corporation has 18 board changes on record in total.
Karnataka Bhovi Development Corporation can be reached through the website kbdc.karnataka.gov.in. Its registered office is in Bangalore, Karnataka, India.
The registered office of Karnataka Bhovi Development Corporation is at 20th Floor, Visweswaraiah Main Tower, Bangalore, Karnataka, India – 560001.