About Maharashtra Rail Infrastructure Development Corporation Limited
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Maharashtra Rail Infrastructure Development Corporation Limited is a private limited state government company based in Mumbai, Maharashtra, India. It operates in the railway infrastructure development segment of the infrastructure and utilities sector. It was incorporated on 08 August 2017 and has been in existence for over 9 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74999MH2017SGC298367. Its GSTIN is 27AALCM2520K1ZD (Maharashtra).
The company has an authorised share capital of ₹7,076 Cr and a paid-up capital of ₹661.56 Cr. It was formerly known as Maharashtra Rail Infrastructure Development Limited. It is led by directors including Rajesh Kumar Jaiswal (Managing Director) and Rajesh Kumar.
Its last annual general meeting (AGM) was held on 02 April 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 2nd Floor Hoechst House Nariman Point, Mumbai, Maharashtra, India – 400021.
As per the financials filed for FY 2024, the company reported a revenue of ₹61.63 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net profit of ₹24.97 Cr (net margin 40.5%) and EBITDA of ₹41.65 Cr (EBITDA margin 67.6%). Revenue has grown at a compounded annual rate (CAGR) of 73% over three years and 20% over five years.
The company has about 171 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Maharashtra Rail Infrastructure Development Corporation. As per MCA filings, the company has open charges of ₹1,090 Cr on record. Court records list 38 cases involving the company, including 2 filed by the company and 36 filed against it; 23 cases are pending. The company has 8 deals on record (5 secondary share transfers, 2 rights issues, 1 funding round), with disclosed funding of ₹20 Cr; the latest was in March 2023. Its 4 peer companies in the Infrastructure industry (Railway Construction), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 3 larger and 1 smaller; the largest is Haryana Mass Rapid Transport Corporation Limited with revenue of ₹68.35 Cr. The company has 7 MSME Form 1 returns on record between 2021 and 2024, listing 14 overdue payments to 5 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 maharail.com.
Company details
Contact details
Maharashtra Rail Infrastructure Development Corporation Limited's registered office is in Mumbai, Maharashtra. Its website is maharail.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address2nd Floor Hoechst House Nariman Point, Mumbai, Maharashtra, India – 400021
- IndustryInfrastructure and Utilities, Railway Infrastructure Development
To see the full contact details of Maharashtra Rail Infrastructure Development Corporation 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
Maharashtra Rail Infrastructure Development Corporation operates one associated brand: Maharashtra Rail Infrastructure Development Corporation. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Rail infrastructure and bridge development services in Maharashtra. | maharail.com |
Business activity
The main business activity of Maharashtra Rail Infrastructure Development Corporation is construction. In detail, this covers roads, railways, utility projects.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects |
To see the full business activity and turnover split of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
Financials of Maharashtra Rail Infrastructure Development Corporation Limited
FY 2024 filings availableMaharashtra Rail Infrastructure Development Corporation Limited reported revenue of ₹61.63 Cr (up 8% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 20% over five years, including 8% growth in the latest year. EBITDA rose 1% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹41.65 Cr | ||||
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| Net Profit (PAT) | ₹24.97 Cr | ||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 67.6% | ||||
| Net Profit Margin | 40.5% | ||||
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To see the full financial statements and ratios of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
Board of directors of Maharashtra Rail Infrastructure Development Corporation Limited
Maharashtra Rail Infrastructure Development Corporation has 6 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rajesh Kumar Jaiswal | Managing Director | 13 Aug 2018 | 8 Years 3 Months | Current |
| Rajesh Kumar | Nominee Director | 30 Jun 2025 | 1 Years 4 Months | Current |
| Sanjay Kumar Jha | Nominee Director | 07 Mar 2024 | 2 Years 8 Months | Current |
| Rajesh Kumar Garg | Nominee Director | 20 Apr 2023 | 3 Years 6 Months | Current |
| Sanjay Jagdishchandra Sethi | Nominee Director | 23 Feb 2024 | 2 Years 8 Months | Current |
| Om Prakash Gupta | Nominee Director | 23 Feb 2024 | 2 Years 8 Months | Current |
Peer comparison
Maharashtra Rail Infrastructure Development Corporation Limited is compared with the 4 companies closest to it by revenue in the Infrastructure industry (Railway Construction), with the same principal business activity (roads, railways, utility projects), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Haryana Mass Rapid Transport Corporation Limited | ₹68.35 Cr (FY 2023) | 30.0% | Panchkula, Haryana, India | |||
| Esscon Infratech Private Limited | ₹65.59 Cr (FY 2025) | 14.0% | Hyderabad, Telangana, India | |||
| Prabhu Projects Private Limited | ₹63.15 Cr (FY 2025) | 38.0% | Guwahati, Assam, India | |||
| Maharashtra Rail Infrastructure Development Corporation Limitedthis company | ₹61.63 Cr (FY 2024) | ₹24.97 Cr | 40.5% | 8.0% | 171 | Mumbai, Maharashtra, India |
| Traxun Towers India Private Limited | ₹61.55 Cr (FY 2025) | -31.0% | Hyderabad, Telangana, India |
To see the full peer comparison of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
Auditor
Maharashtra Rail Infrastructure Development Corporation Limited is audited by G R A N D M A R K & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| G R A N D M A R K & ASSOCIATES | FY 2023 | 011317N |
Shareholding
The shareholding of Maharashtra Rail Infrastructure Development Corporation 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 Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 01 Dec 2025 | 101205684 | State Bank of India | ₹150 Cr | Open | |
| 16 Jan 2024 | 100850086 | Others | ₹100 Cr | Open | |
| 28 Jun 2021 | 100460369 | Others | ₹840 Cr | Open |
Total charge records: 3 View all charges
Deals & funding
Maharashtra Rail Infrastructure Development Corporation Limited has 8 deals on record (5 secondary share transfers, 2 rights issues, 1 funding round), with disclosed funding of ₹20 Cr; the latest was in March 2023.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: President of India & Ministry of Railways, President Of India, 2 individuals |
| Jan 2023 | Rights issue | ₹561.56 Cr | Investors: President of India & Ministry of Railways, an individual |
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: President Of India, an individual Seller: President of India & Ministry of Railways, 2 individuals |
| Mar 2021 | Secondary share transfer | Undisclosed | Buyer: President Of India, an individual Seller: President of India & Ministry of Railways, 2 individuals |
| Aug 2020 | Funding round | ₹20 Cr | Investors: President of India & Ministry of Railways, an individual |
To see the full deal history of Maharashtra Rail Infrastructure Development Corporation 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
Maharashtra Rail Infrastructure Development Corporation Limited has 38 court cases on record: 2 filed by Maharashtra Rail Infrastructure Development Corporation, 36 filed against it. 23 cases are pending and 15 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 22 | 21 | 9 |
| District courts | 15 | 15 | 13 |
| Supreme Court | 1 | 0 | 1 |
Cases on record (5 of 38)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Writ petition | Filed against the company by The Hyder-E-Ally Manufacturing and Pressing Factory Pvt Ltd | Pending |
| High Court, MAHARASHTRA | Court case (CARBP) | Filed against the company by Mehrotra Buildcon Pvt Ltd and 2 others | Disposed |
| High Court, MAHARASHTRA | Court case (CARBP) | Filed against the company by Balaji Railroad Systems Private Limited and Anr and 1 other | Disposed |
| High Court, MAHARASHTRA | Court case (CARBP) | Filed against the company by Kec International Ltd and 2 others | Disposed |
| Bombay High Court | Court case (CARBP) | Filed against the company by Balaji Railroad Systems Pvt. Ltd. and Anr. | Disposed |
To see the full case history of Maharashtra Rail Infrastructure Development Corporation 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.
Credit ratings & regulatory alerts
Maharashtra Rail Infrastructure Development Corporation Limited was last rated by Indiarating on 30 Jun 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 30 Jun 2023 |
To see the full credit ratings and regulatory alerts of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
MSME payment delays
Maharashtra Rail Infrastructure Development Corporation Limited has 7 MSME Form 1 returns on record between 2021 and 2024, listing 14 overdue payments to 5 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 (5 of 5)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Qmax Techno Consultants Private Limited | |||
| Resurgent India Ltd | |||
| Sant Shiromani Enterprises Private Limited | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Maharashtra Rail Infrastructure Development Corporation Limited has a workforce of 171 employees on its EPFO records as of May 2026.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 171 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 |
To see the full employee and EPFO history of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
GST
Maharashtra Rail Infrastructure Development Corporation has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AALCM2520K1ZD | Maharashtra | Active | 31 Oct 2018 |
To see the full GST registrations and return filing status of Maharashtra Rail Infrastructure Development Corporation Limited, buy the company report.
Recent activity
Maharashtra Rail Infrastructure Development Corporation Limited has 25 board changes on record since 2018: 7 appointments and 18 cessations. The latest: Rajesh Kumar was appointed as Nominee Director on 30 Jun 2025.
19 earlier events are in the company report.
Frequently asked questions
Maharashtra Rail Infrastructure Development Corporation is an active private limited state government company based in Mumbai, Maharashtra, India. The company works in railway infrastructure development, within the infrastructure and utilities industry. It was incorporated on 08 August 2017 (9+ years old) and is registered under CIN U74999MH2017SGC298367.
Maharashtra Rail Infrastructure Development Corporation has 6 current directors:
- Rajesh Kumar Jaiswal - Managing Director
- Rajesh Kumar - Nominee Director
- Sanjay Kumar Jha - Nominee Director
- Rajesh Kumar Garg - Nominee Director
- Sanjay Jagdishchandra Sethi - Nominee Director
- Om Prakash Gupta - Nominee Director
The latest financial statements of Maharashtra Rail Infrastructure Development Corporation on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 02 April 2025. Year-wise statements from FY 2018 are in the company report.
The GSTIN of Maharashtra Rail Infrastructure Development Corporation is 27AALCM2520K1ZD, registered in Maharashtra.
The CIN (Corporate Identification Number) of Maharashtra Rail Infrastructure Development Corporation is U74999MH2017SGC298367. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Maharashtra Rail Infrastructure Development Corporation has 38 court cases on record: 2 filed by the company and 36 filed against it. 23 are pending. Most are in the high courts.
Maharashtra Rail Infrastructure Development Corporation was incorporated on 08 August 2017, making it 9+ years old. It is registered with the Registrar of Companies, Mumbai.
Maharashtra Rail Infrastructure Development Corporation has 8 deals on record (5 secondary share transfers, 2 rights issues, 1 funding round), with disclosed funding of ₹20 Cr; the latest was in March 2023.
The peers of Maharashtra Rail Infrastructure Development Corporation by revenue are Haryana Mass Rapid Transport Corporation Limited, Esscon Infratech Private Limited, Prabhu Projects Private Limited, Traxun Towers India Private Limited, all in the Infrastructure industry (Railway Construction), with the same principal business activity (roads, railways, utility projects).
Rajesh Kumar was appointed as Nominee Director on 30 Jun 2025. Sujata Manoj Saunik ceased to be Nominee Director on 30 Jun 2025. Yogesh Bhanwarlal Dave was appointed as Company Secretary on 01 Oct 2024. Maharashtra Rail Infrastructure Development Corporation has 25 board changes on record in total.
Maharashtra Rail Infrastructure Development Corporation has 7 MSME Form 1 returns on record between 2021 and 2024, listing 14 overdue payments to 5 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Maharashtra Rail Infrastructure Development Corporation can be reached through the website maharail.com. Its registered office is in Mumbai, Maharashtra, India.
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