About Vees Properties Limited
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Vees Properties Limited is a public limited company based in Chennai, Tamil Nadu, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 30 November 1974 and has been in existence for over 52 years.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U31909TN1974PLC006798. The company has 2 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹50 Cr and a paid-up capital of ₹31.73 Cr. It was formerly known as Kgeyes Estates Limited and Kgs Developers Private Limited. It is led by directors including Pitchaiah Pitchaiah (Whole-Time Director) and Veerabahu Subramanian (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office is at No.10 2nd Cross Street Raja Annamalaipuram, Chennai, Tamil Nadu, India – 600028.
As per the financials filed for FY 2022, the company reported a revenue of ₹22.97 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹61,740 (net margin 0%) and EBITDA of ₹4.99 Cr (EBITDA margin 21.7%). Revenue has declined at a compounded annual rate (CAGR) of 24% over three years and 18% over five years.
As per MCA filings, the company has open charges of ₹44.7 Cr and satisfied charges of ₹300.52 Cr on record. Court records list 86 cases involving the company, including 17 filed by the company and 69 filed against it; 8 cases are pending. The company has 2 deals on record (1 funding round, 1 acquisition), with disclosed funding of ₹83.71 Cr; the latest was in March 2018. Its 4 peer companies in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings) are compared by revenue, 2 larger and 2 smaller; the largest is Earthstone Infra Private Limited with revenue of ₹22.99 Cr.
The current compliance status is marked as active non-compliant by the Registrar of Companies. For more details, the company can be reached via its website kgsdevelopers.com.
Company details
Name history
Vees Properties has undergone 6 name changes throughout its history. The current legal name is Vees Properties Limited.
| Company Name | Status |
|---|---|
| Vees Properties Limited | Current |
| Kgeyes Estates Limited | Previous |
| Kgs Developers Private Limited | Previous |
| Stardrive Engineers Private Limited | Previous |
| Kgeyes Nelsun Projects Private Limited | Previous |
| Kgeyes Properties Limited | Previous |
| Kgs Developers Limited | Previous |
CIN history
Vees Properties has one previous CIN (Corporate Identification Number): U31909TN1974PTC006798. The current CIN is U31909TN1974PLC006798, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U31909TN1974PLC006798 | Current |
| U31909TN1974PTC006798 | Previous |
Contact details
Vees Properties Limited's registered office is in Chennai, Tamil Nadu. Its website is kgsdevelopers.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressNo.10 2nd Cross Street Raja Annamalaipuram, Chennai, Tamil Nadu, India – 600028
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Vees Properties 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
Business activity
The main business activity of Vees Properties is construction. In detail, this covers buildings.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F1 | Buildings |
To see the full business activity and turnover split of Vees Properties Limited, buy the company report.
Financials of Vees Properties Limited
FY 2022 filings availableVees Properties Limited reported revenue of ₹22.97 Cr (up 1212% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 18% over five years. 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 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹22.97 Cr | ||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹4.99 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹61,740 | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 21.7% | ||||
| Net Profit Margin | 0% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
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| Receivable Days | |||||
| Payable Days | |||||
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| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Vees Properties Limited, buy the company report.
Board of directors and KMP of Vees Properties Limited
Vees Properties Limited currently reports 6 directors and 1 key managerial person. 8 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Pitchaiah Pitchaiah | Whole-Time Director | 02 Jul 2019 | 7 Years 4 Months | Current |
| Veerabahu Subramanian | Whole-Time Director | 02 Jul 2019 | 7 Years 4 Months | Current |
| Meenakshi Sundaram Sankaram Pillai | Director | 11 Aug 2018 | 8 Years 2 Months | Current |
| Balan Anandhi | Cfo | 11 Aug 2018 | 8 Years 2 Months | Current |
| Shrinivasan Venkatachalam Krishnan | Director | 11 Aug 2018 | 8 Years 2 Months | Current |
| Gigi George Also directs: Taking Off to the Future Investment Management LLP, KGS Constructions Limited, Tofl Infrastructure Limited and 5 more | Whole-Time Director | 01 Mar 2007 | 19 Years 8 Months | Current |
Peer comparison
Vees Properties Limited is compared with the 4 companies closest to it by revenue in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Earthstone Infra Private Limited | ₹22.99 Cr (FY 2024) | -8.0% | Mumbai, Maharashtra, India | |||
| Ilp 3 India 13 Private Limited | ₹22.98 Cr (FY 2025) | 167.0% | Chennai, Tamil Nadu, India | |||
| Vees Properties Limitedthis company | ₹22.97 Cr (FY 2022) | ₹61,740 | 0% | 1212.0% | Chennai, Tamil Nadu, India | |
| Gatala Developers and Properties Private Limited | ₹22.96 Cr (FY 2025) | 252.0% | Chennai, Tamil Nadu, India | |||
| Saptrishi Infracon Private Limited | ₹22.96 Cr (FY 2025) | -50.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Vees Properties Limited, buy the company report.
Shareholding
The shareholding of Vees Properties Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2019 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Vees Properties Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Sep 2017 | 100150932 | Others | ₹15 Cr | Open | |
| 25 Mar 2015 | 10608757 | Reliance Home Finance Limited | ₹17.75 Cr | Open | |
| 05 Mar 2012 | 10341742 | Housing Development Finance Corporation Limited | ₹11.95 Cr | Open | |
| 30 Oct 2014 | 10535379 | Reliance Capital Ltd | ₹17.79 Cr | Satisfied | |
| 07 Mar 2013 | 10410034 | Icici Bank Limited | ₹95 Cr | Satisfied |
To see the full charge records of Vees Properties Limited, buy the company report.
Total charge records: 29 View all charges
Deals & funding
Vees Properties Limited has 2 deals on record (1 funding round, 1 acquisition), with disclosed funding of ₹83.71 Cr; the latest was in March 2018.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2018 | Acquisition | ₹82.28 Cr | Seller: Rcasl Corporate Advisory Services Limited |
| Mar 2009 | Funding round | ₹83.71 Cr | Investors: Rcasl Corporate Advisory Services Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Vees Properties Limited has 86 court cases on record: 17 filed by Vees Properties, 69 filed against it. 8 cases are pending and 78 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 58 | 48 | 4 |
| District courts | 19 | 13 | 4 |
| NCLT | 5 | 4 | 0 |
| NCLAT | 3 | 3 | 0 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 86)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Madras High Court | Original application | Filed against the company by Casagrand Exotia Private Limited Represented by Its Authorised Signatory N Thirunavukkarasu | Pending |
| Madras High Court | Appeal | Filed against the company by Casagrand Exotia Private Limited Rep by Its Authorised Signatory | Disposed |
| District court, Ernakulam, Kerala | Court case (MC) | Filed against the company by Housing Development Finance Corporation Limited | Disposed |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by SDS Leasing and Rental (OPC ) Private Limited | Disposed |
| High Court, TAMIL NADU | Writ petition | Filed against the company by SDS Leasing and Rental (OPC ) Private Limited | Disposed |
To see the full case history of Vees Properties 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 Vees Properties Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Vees Properties has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Vees Properties Limited, buy the company report.
Recent activity
Vees Properties Limited has 15 board changes on record since 2007: 7 appointments and 8 cessations. The latest: Pitchaiah Pitchaiah was appointed as Whole-Time Director on 02 Jul 2019.
69 earlier events are in the company report.
Frequently asked questions
Vees Properties is an active public limited company based in Chennai, Tamil Nadu, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 30 November 1974 (52+ years old) and is registered under CIN U31909TN1974PLC006798.
Vees Properties has 7 current directors and KMP:
- Pitchaiah Pitchaiah - Whole-Time Director
- Veerabahu Subramanian - Whole-Time Director
- Gigi George - Whole-Time Director
- Meenakshi Sundaram Sankaram Pillai - Director
- Shrinivasan Venkatachalam Krishnan - Director
- Arumugam Srinivasan - Director
- Balan Anandhi - Cfo
The latest financial statements of Vees Properties on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 30 September 2022. Year-wise statements from 2015 are in the company report.
No. Vees Properties has 2 GST registrations on record and all of them are cancelled or inactive.
The CIN (Corporate Identification Number) of Vees Properties is U31909TN1974PLC006798. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Vees Properties has 86 court cases on record: 17 filed by the company and 69 filed against it. 8 are pending. Most are in the high courts.
Vees Properties was incorporated on 30 November 1974, making it 52+ years old. It is registered with the Registrar of Companies, Chennai.
Vees Properties has 2 deals on record (1 funding round, 1 acquisition), with disclosed funding of ₹83.71 Cr; the latest was in March 2018.
The peers of Vees Properties by revenue are Earthstone Infra Private Limited, Ilp 3 India 13 Private Limited, Gatala Developers and Properties Private Limited, Saptrishi Infracon Private Limited, all in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings).
Pitchaiah Pitchaiah was appointed as Whole-Time Director on 02 Jul 2019. Pitchaiah Pitchaiah ceased to be Additional Director on 02 Jul 2019. Srinivasan Venkatasubramanian ceased to be Managing Director on 02 Jul 2019. Vees Properties has 15 board changes on record in total.
Vees Properties can be reached through the website kgsdevelopers.com. Its registered office is in Chennai, Tamil Nadu, India.
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