Lucina Land Development Limited
About Lucina Land Development Limited
Data last updated:
Lucina Land Development Limited is a public limited company based in Delhi, India, a subsidiary of Indiabulls Real Estate Limited. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 25 July 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U70109DL2006PLC151260. Its GSTIN is 27AABCL2130N1ZK (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹5 Lakh. It was formerly known as Lucina Land Development Private Limited. It is led by directors including Meyyappan Ramanathan (Whole-Time Director) and Ssatyajit Parrihaar.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Office No 202 2nd Floor A – 18 Rama House Middle Circle Connaught Place New Del, Hi – 110001, Delhi, India – 110001.
As per the financials filed for FY 2024, the company reported a revenue of ₹26.53 Cr, a decline of 45% compared to the previous year. For the same year it recorded a net loss of ₹47.01 Cr (net margin -177.2%) and EBITDA of -₹42.74 Cr (EBITDA margin -161.1%). Revenue has declined at a compounded annual rate (CAGR) of 30% over three years and 54% over five years.
The company has about 12 employees on its provident fund (EPFO) records. Its group structure includes 5 subsidiaries.
As per MCA filings, the company has open charges of ₹950 Cr and satisfied charges of ₹3,123.75 Cr on record. Court records list 54 cases involving the company, including 23 filed by the company and 31 filed against it; 20 cases are pending. The company has 7 deals on record (3 debt financings, 3 secondary share transfers, 1 convertible or debt financing), with disclosed funding of ₹684.61 Cr; the latest was in January 2025. Its 3 peer companies in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings) are compared by revenue, 2 larger and 1 smaller; the largest is Woodspace Infrastructures Private Limited with revenue of ₹26.6 Cr.
The current compliance status is marked as compliant by the Registrar of Companies.
CIN History
Lucina Land Development has one previous CIN (Corporate Identification Number): U70109DL2006PTC151260. The current CIN is U70109DL2006PLC151260, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U70109DL2006PLC151260 | Current |
| U70109DL2006PTC151260 | Previous |
- EmailLocked
- TelephoneLocked
- WebsiteLocked
- Social MediaLocked
- Registered AddressOffice No 202 2nd Floor A – 18 Rama House Middle Circle Connaught Place New Del, Hi – 110001, Delhi, India – 110001
- IndustryReal Estate and Construction, Real Estate Builders & Developers
- 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
The main business activity of Lucina Land Development is construction. In detail, this covers buildings.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| F | Construction | F1 | Buildings | 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
Financials of Lucina Land Development Limited
FY 2025 filings availableLucina Land Development Limited reported revenue of ₹26.53 Cr (down 45% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 54% over five years, including a 45% fall in the latest year. EBITDA fell 116% 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 2023-24 | FY 2019-20 to FY 2022-23in the company report |
|---|---|---|
| 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 | -₹42.74 Cr | |
| Profit Before Tax | •••• | |
| Tax Expense | •••• | |
| Net Profit (PAT) | -₹47.01 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
| Metrics | FY 2023-24 | FY 2019-20 to FY 2022-23in the company report |
|---|---|---|
| Profitability | ||
| EBITDA Margin | -161.1% | |
| Net Profit Margin | -177.2% | |
| 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, and every line for FY 2019-20 to FY 2022-23, 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 Lucina Land Development are in the company report.
: available in the company report
Board of Directors and KMP of Lucina Land Development Limited
Lucina Land Development Limited currently reports 3 directors and 1 key managerial person. 18 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Yash Garg Also directs: Complify Corporate Advisors LLP | Company Secretary | 20 Dec 2021 | 4 Years 10 Months | Current |
| Meyyappan Ramanathan Also directs: Nilgiri Land Holdings Limited, Nilgiri Lands Limited, Varali Real Estate Limited and 5 more | Whole-Time Director | 24 Jun 2022 | 4 Years 3 Months | Current |
| Ssatyajit Parrihaar Also directs: Sylvanus Properties Limited, Selene Buildwell Limited, Selene Constructions Limited and 5 more | Director | 24 Jun 2022 | 4 Years 3 Months | Current |
| Manish Riyal Also directs: Mabon Constructions Limited, Varali Properties Limited, Devona Properties Limited and 5 more | Director | 23 Sep 2023 | 3 Years 0 Months | Current |
Peer Comparison
Lucina Land Development Limited is compared with the companies closest to it by revenue in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Woodspace Infrastructures Private Limited | ₹26.6 Cr (FY 2025) | •••• | •••• | -51.0% | •••• | Rajkot, Gujarat, India |
| Aishwarya Properties Private Limited | ₹26.57 Cr (FY 2025) | •••• | •••• | 1344.0% | •••• | Chennai, Tamil Nadu, India |
| Lucina Land Development Limited this company | ₹26.53 Cr (FY 2024) | •••• | •••• | -45.0% | •••• | Delhi, India |
| Soha Developers Private Limited | ₹26.49 Cr (FY 2025) | •••• | •••• | 109.0% | •••• | New Delhi, Delhi, India |
Peers are the companies nearest to Lucina Land Development by revenue, above and below it, in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details
Lucina Land Development Limited is audited by Agarwal Prakash & Co for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Agarwal Prakash & Co | Locked | Locked | Locked |
: available in the company report
Ownership and Shareholding
: available in the company report
Charges & Borrowings
| Date | Lender | Amount | Status |
|---|---|---|---|
| 30 Jan 2025 | Idbi Trusteeship Services Limited | ₹950 Cr | Open |
| 26 Sep 2023 | Idbi Trusteeship Services Limited | ₹329 Cr | Satisfied |
| 09 Feb 2022 | Idbi Trusteeship Services Limited | ₹499 Cr | Satisfied |
| 11 Jan 2019 | Idbi Trusteeship Services Limited | ₹200 Cr | Satisfied |
| 18 Sep 2017 | Others | ₹500 Cr | Satisfied |
Total charge records: 11 View all charges
Deals & Funding
Lucina Land Development Limited has 7 deals on record (3 debt financings, 3 secondary share transfers, 1 convertible or debt financing), with disclosed funding of ₹684.61 Cr; the latest was in January 2025.
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2025 | Debt financing | ₹110 Cr | Investors: Trust Capital, Ncube Ventures LLP , Alpha Alternatives Equity Absolute Return Fund |
| Feb 2022 | Debt financing | ₹360 Cr | Investors: Aditya Birla Finance Limited , Trust Capital, Aditya Birla Money Limited |
| Jul 2015 | Secondary share transfer | Undisclosed | Buyer: Selene Infrastructure Limited Seller: Indiabulls Real Estate Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Elena Properties Limited , Citra Developers Limited , Indiabulls Real Estate Limited Seller: Selene Infrastructure Limited , Fornax Real Estate Limited |
| Mar 2014 | Debt financing | ₹186.97 Cr | Investors: Indiabulls Real Estate Limited, Fornax Real Estate Limited , Selene Infrastructure Limited |
: available in the company report
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases
Lucina Land Development Limited has 54 court cases on record: 23 filed by Lucina Land Development, 31 filed against it. 20 cases are pending and 34 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 41 | 18 | 15 |
| District courts | 11 | 11 | 5 |
| Supreme Court | 1 | 1 | 0 |
| NCLAT | 1 | 1 | 0 |
Cases on record (5 of 54)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Thane, Maharashtra | Civil suit | Filed against the company by M/S. Naik Environmental Engineers Pvt. Ltd. | Pending |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by M/S Raghani Property Holdings Pvt. Ltd. | Pending |
| District court, New Delhi, Delhi | Court case (CS (COMM.)) | Filed against the company by Currie and Brown India Pvt Ltd | Disposed |
| District court, Thane, Maharashtra | Civil suit | Filed against the company by M/S. Naik Environmental Engineers Pvt. Ltd. | Disposed |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by M/S Naik Environmental Engineers Pvt Ltd | Disposed |
: available in 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.
Employees and EPFO Compliance
Lucina Land Development Limited has a workforce of 12 employees as of Apr 10, 2024.
: available in the company report
Group Structure
Lucina Land Development has 5 subsidiary companies. This group structure data is as of FY 2021. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Albina Real Estate Limited | U45400DL2007PLC163019 | Locked |
| Serida Properties Limited | U45400DL2008PLC172631 | Locked |
| Devona Infrastructure Limited | U45400MH2007PLC304087 | Locked |
| Noble Realtors Limited | U70101MH2003PLC310111 | Locked |
| Nilgiri Infrastructure Development Limited | U70101MH2006PLC308863 | Locked |
Showing major subsidiaries. Total: 5.
Recent Activity
Lucina Land Development Limited has 40 board changes on record since 2006: 22 appointments and 18 cessations. The latest: Manish Riyal was appointed as Director on 23 Sep 2023.
57 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts
: available in the company report
MSME Payment Delays
: available in the company report
Subsidiaries & Group Companies
: available in the company report
GST Compliance
Lucina Land Development has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCL2130N1ZK | Maharashtra | Active | 01 Jul 2017 |
: available in the company report
MCA Filings & Documents
: available in the company report
Frequently Asked Questions
Lucina Land Development is an active public limited company based in Delhi, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 25 July 2006 (20+ years old) and is registered under CIN U70109DL2006PLC151260.
Lucina Land Development has 4 current directors and KMP:
- Meyyappan Ramanathan - Whole-Time Director
- Ssatyajit Parrihaar - Director
- Manish Riyal - Director
- Yash Garg - Company Secretary
The latest financial statements of Lucina Land Development on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Lucina Land Development is 27AABCL2130N1ZK, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Lucina Land Development is U70109DL2006PLC151260. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Lucina Land Development has 54 court cases on record: 23 filed by the company and 31 filed against it. 20 are pending. Most are in the high courts.
Lucina Land Development was incorporated on 25 July 2006, making it 20+ years old. It is registered with the Registrar of Companies, Delhi.
Lucina Land Development has 7 deals on record (3 debt financings, 3 secondary share transfers, 1 convertible or debt financing), with disclosed funding of ₹684.61 Cr; the latest was in January 2025.
The peers of Lucina Land Development by revenue are Woodspace Infrastructures Private Limited, Aishwarya Properties Private Limited, Soha Developers Private Limited, all in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings).
Manish Riyal was appointed as Director on 23 Sep 2023. Shamsher Singh Ahlawat ceased to be Director on 23 Sep 2023. Meyyappan Ramanathan was appointed as Whole-Time Director on 24 Jun 2022. Lucina Land Development has 40 board changes on record in total.
The registered office of Lucina Land Development is at Office No 202 2nd Floor A – 18 Rama House Middle Circle Connaught Place New Del, Hi – 110001, Delhi, India – 110001.