India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,608 Mayur Ramniklal Shah & family ₹1,200 Cr
Revenue · FY 2025
₹17.37 Cr
▼ 63% YoY
Net loss · FY 2025
₹76.6 Lakh
Net margin -4.4%
EBITDA · FY 2025
-₹39.68 Lakh
EBITDA margin -2.3%
Authorised capital
₹10.1 Cr
Registered with MCA
Paid-up capital
₹10.01 Cr
Issued & subscribed
Satisfied charges
₹205.46 Cr
No open charges
Company age
19 yrs
Est. 2007
Employees · EPFO
68
Provident fund records
About Matrix Enclaves Projects Developments Private Limited
Data last updated:
Matrix Enclaves Projects Developments Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 31 July 2007 and has been in existence for over 19 years.
Its director Mayur Ramniklal Shah and family are #1,608 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U40102MH2007PTC172714. Its GSTIN is 27AAFCM3513L1ZE (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹10.1 Cr and a paid-up capital of ₹10.01 Cr. It was formerly known as Matrix Utilities Private Limited. It is led by directors Kaivalya Chetan Shah and Mayur Ramniklal Shah.
Its last annual general meeting (AGM) was held on 30 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 ₹17.37 Cr, a decline of 63% compared to the previous year. For the same year it recorded a net loss of ₹76.6 Lakh (net margin -4.4%) and EBITDA of -₹39.68 Lakh (EBITDA margin -2.3%). Revenue has declined at a compounded annual rate (CAGR) of 28% over three years and 21% over five years.
The company has about 68 employees on its provident fund (EPFO) records.
As per MCA filings, the company has satisfied charges of ₹205.46 Cr on record. Court records list 3 cases involving the company, including 3 filed against it; 1 case is 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 marathon.in.
Company details
CIN U40102MH2007PTC172714
Registration Number 172714
Incorporation Date 31 July 2007
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Recognitions & Rankings of Matrix Enclaves Projects Developments
Contact details
Matrix Enclaves Projects Developments Private Limited's registered office is in Mumbai, Maharashtra. Its website is marathon.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address702 Marathon Max Junction Mulund – Goregaon Link Road Mu, Lund(W), Mumbai, Maharashtra, India – 400080
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Matrix Enclaves Projects Developments Private Limited, buy the company report.
Comprehensive company report
Matrix Enclaves Projects Developments Private Limited - one report that includes everything
- 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
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Business activity
The main business activity of Matrix Enclaves Projects Developments 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 Matrix Enclaves Projects Developments Private Limited, buy the company report.
Financials of Matrix Enclaves Projects Developments Private Limited
FY 2025 filings availableMatrix Enclaves Projects Developments Private Limited reported revenue of ₹17.37 Cr (down 63% YoY) for FY 2025.
Revenue · FY 2025
₹17.37 Cr ▼ 63%
Net loss · FY 2025
₹76.6 Lakh margin -4.4%
EBITDA · FY 2025
-₹39.68 Lakh margin -2.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 63%
3 years · compounded
▼ 28%
5 years · compounded
▼ 21%
EBITDA CAGR growth
1 year
▼ 156%
3 years · compounded
▼ 39%
5 years · compounded
▼ 17%
Revenue has declined at a compounded annual rate (CAGR) of 21% over five years, including a 63% fall in the latest year. EBITDA fell 156% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | -₹39.68 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹76.6 Lakh | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -2.3% | ||||
| Net Profit Margin | -4.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Matrix Enclaves Projects Developments Private Limited, buy the company report.
Board of directors of Matrix Enclaves Projects Developments Private Limited
Matrix Enclaves Projects Developments has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kaivalya Chetan Shah | Director | 01 Jan 2016 | 10 Years 9 Months | Current |
| Mayur Ramniklal Shah Also directs: Marathon Construction LLP, Marathon Buildcon LLP, Matrix Green Housing and Commercial Developers LLP and 5 more | Director | 31 Jul 2007 | 19 Years 2 Months | Current |
Peer comparison
Matrix Enclaves Projects Developments Private Limited is compared with the 5 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 |
|---|---|---|---|---|---|---|
| Jaymeet Realty Private Limited | ₹17.4 Cr (FY 2024) | -18.0% | Bharuch, Gujarat, India | |||
| Sri Aneka Properties Private Limited | ₹17.38 Cr (FY 2024) | 77.0% | Coimbatore, Tamil Nadu, India | |||
| Matrix Enclaves Projects Developments Private Limitedthis company | ₹17.37 Cr (FY 2025) | -₹76.6 Lakh | -4.4% | -63.0% | 68 | Mumbai, Maharashtra, India |
| Dcnpl Private Limited | ₹17.37 Cr (FY 2025) | 44.0% | Indore, Madhya Pradesh, India | |||
| Vision India Colonizers Private Limited | ₹17.37 Cr (FY 2025) | 82.0% | Kharar, Punjab, India | |||
| Sahana Dwellers Private Limited | ₹17.35 Cr (FY 2019) | 8.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Matrix Enclaves Projects Developments Private Limited, buy the company report.
Auditor
Matrix Enclaves Projects Developments Private Limited is audited by DINESH PAI & CO. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DINESH PAI & CO. | FY 2023 | 102608W |
Shareholding
The shareholding of Matrix Enclaves Projects Developments Private 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 Matrix Enclaves Projects Developments Private Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹205.46 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 12 Apr 2021 | 100441750 | Sbicap Trustee Company Limited | ₹60 Cr | Satisfied | |
| 06 Aug 2019 | 100281264 | Yes Bank Limited | ₹45.88 Lakh | Satisfied | |
| 17 Feb 2017 | 100087255 | Others | ₹100 Cr | Satisfied | |
| 17 Nov 2014 | 10532409 | Indian Overseas Bank | ₹45 Cr | Satisfied |
To see the full charge records of Matrix Enclaves Projects Developments Private Limited, buy the company report.
Total charge records: 4 View all charges
Legal cases
Matrix Enclaves Projects Developments Private Limited has 3 court cases on record: 3 filed against it. 1 case is pending and 2 are disposed.
Total cases
3
Filed against the company
3
Pending
1
Disposed
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 3 | 1 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Revision Application ULP) | Filed against the company by Marathon Realty Pvt. Ltd., | Disposed |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Comp. ULP) | Filed against the company by an individual | Pending |
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Condn of Delay-ULP) | Filed against the company by an individual | Disposed |
To see the full case history of Matrix Enclaves Projects Developments Private 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
Matrix Enclaves Projects Developments Private Limited has 4 MSME Form 1 returns on record between 2019 and 2024, listing 133 overdue payments to 22 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 22)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Winall Stone Trading Co. | |||
| an individual supplier | |||
| an individual supplier | |||
| Prabhat Wires LLP | |||
| an individual supplier |
To see the full MSME payment records of Matrix Enclaves Projects Developments Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Matrix Enclaves Projects Developments Private Limited has a workforce of 68 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
Employee count
68
Active EPFO establishments
1
Employee growth
-5.56%
GST
Matrix Enclaves Projects Developments has 2 GST registrations: 1 active and 1 cancelled or inactive.
Total GSTINs
2
Active
1
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCM3513L1ZE | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Matrix Enclaves Projects Developments Private Limited, buy the company report.
Recent activity
Matrix Enclaves Projects Developments Private Limited has 5 board changes on record since 2007: 2 appointments and 3 cessations. The latest: Kaivalya Chetan Shah ceased to be Additional Director on 29 Sep 2016.
AGM
Matrix Enclaves Projects Developments Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Matrix Enclaves Projects Developments Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge registered on 12 Apr 2021 via Charge ID 100441750 with Sbicap Trustee Company Limited was fully satisfied on 15 Jul 2024.
Charges
A charge registered on 06 Aug 2019 via Charge ID 100281264 with Yes Bank Limited was fully satisfied on 21 Feb 2022.
Charges
A charge registered on 17 Feb 2017 via Charge ID 100087255 with Others was fully satisfied on 30 Apr 2021.
Charges
A charge with Sbicap Trustee Company Limited amounted to Rs. 60.00 Cr with Charge ID 100441750 was registered on 12 Apr 2021.
Charges
A charge with Others of Rs. 100.00 Cr registered on 17 Feb 2017 with Charge ID 100087255 was modified on 06 Sep 2019.
Charges
A charge with Yes Bank Limited amounted to Rs. 0.46 Cr with Charge ID 100281264 was registered on 06 Aug 2019.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 100087255 was registered on 17 Feb 2017.
Charges
A charge registered on 17 Nov 2014 via Charge ID 10532409 with Indian Overseas Bank was fully satisfied on 07 Jan 2017.
Ceased
Kaivalya Chetan Shah ceased to be Additional Director.
Appointed
Kaivalya Chetan Shah was appointed as Director.
5 earlier events are in the company report.
News
Frequently asked questions
Matrix Enclaves Projects Developments is an active private limited company based in Mumbai, Maharashtra, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 31 July 2007 (19+ years old) and is registered under CIN U40102MH2007PTC172714.
Matrix Enclaves Projects Developments has 2 current directors:
- Kaivalya Chetan Shah - Director
- Mayur Ramniklal Shah - Director
The latest financial statements of Matrix Enclaves Projects Developments on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Matrix Enclaves Projects Developments is 27AAFCM3513L1ZE, 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 Matrix Enclaves Projects Developments is U40102MH2007PTC172714. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Matrix Enclaves Projects Developments has 3 court cases on record: 3 filed against it. 1 is pending.
Matrix Enclaves Projects Developments was incorporated on 31 July 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Matrix Enclaves Projects Developments by revenue are Jaymeet Realty Private Limited, Sri Aneka Properties Private Limited, Dcnpl Private Limited, Vision India Colonizers Private Limited, Sahana Dwellers Private Limited, all in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings).
Kaivalya Chetan Shah ceased to be Additional Director on 29 Sep 2016. Kaivalya Chetan Shah was appointed as Director on 01 Jan 2016. Shailaja Chetan Shah ceased to be Additional Director on 30 Sep 2015. Matrix Enclaves Projects Developments has 5 board changes on record in total.
Matrix Enclaves Projects Developments has 4 MSME Form 1 returns on record between 2019 and 2024, listing 133 overdue payments to 22 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Matrix Enclaves Projects Developments can be reached through the website marathon.in. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Matrix Enclaves Projects Developments is at 702 Marathon Max Junction Mulund – Goregaon Link Road Mu, LundW, Mumbai, Maharashtra, India – 400080.