India's Richest People 2026 edition · 1 director · Source: Hurun India
- #994 Kanubhai Mafatlal Patel & family ₹2,800 Cr
Revenue · FY 2025
₹5,127.73 Cr
▼ 3% YoY
Net profit · FY 2025
₹453.12 Cr
Net margin 8.8%
EBITDA · FY 2025
₹993.09 Cr
EBITDA margin 19.4%
Authorised capital
₹125 Cr
Registered with MCA
Paid-up capital
₹85.5 Cr
Issued & subscribed
Open charges
₹5,248.31 Cr
Satisfied ₹4,843.23 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
4,528
Provident fund records
About Montecarlo Limited
Data last updated:
Montecarlo Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the general construction services segment of the infrastructure and utilities sector. It was incorporated on 20 March 1995 and has been in existence for over 31 years.
Its director Kanubhai Mafatlal Patel and family are #994 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U40300GJ1995PLC025082. Its GSTIN is 24AAACM7958A1ZN (Gujarat). The company holds 23 GST registrations, of which 20 are active.
The company has an authorised share capital of ₹125 Cr and a paid-up capital of ₹85.5 Cr. It was formerly known as Montecarlo Construction Private Limited and Montecarlo Construction Limited. It is led by directors including Brijesh Kanubhai Patel (Managing Director) and Mrunal Kanubhai Patel (Managing Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Montecarlo House Sindhu Bhavan Road Bodakdev, Ahmedabad, Gujarat, India – 380058.
As per the financials filed for FY 2025, the company reported a revenue of ₹5,127.73 Cr, a decline of 3% compared to the previous year. For the same year it recorded a net profit of ₹453.12 Cr (net margin 8.8%) and EBITDA of ₹993.09 Cr (EBITDA margin 19.4%). Revenue has grown at a compounded annual rate (CAGR) of 15% over three years and 11% over five years.
The company has about 4,528 employees on its provident fund (EPFO) records. Its group structure includes 15 subsidiaries.
The company is associated with 1 brand: Montecarlo. As per MCA filings, the company has open charges of ₹5,248.31 Cr and satisfied charges of ₹4,843.23 Cr on record. Court records list 309 cases involving the company, including 142 filed by the company and 167 filed against it; 70 cases are pending. The company has 8 deals on record (6 secondary share transfers, 2 funding rounds), with disclosed funding of ₹14.75 Cr; the latest was in March 2023. Its 5 peer companies in the Infrastructure industry (Construction Services, Engineering Procurement and Construction), with the same principal business activity (roads, railways, utility projects) are compared by revenue, 3 larger and 2 smaller; the largest is Hindustan Construction Company Limited with revenue of ₹5,726.57 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mclindia.com.
Company details
CIN U40300GJ1995PLC025082
Registration Number 025082
Incorporation Date 20 March 1995
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
Name history
Montecarlo has undergone 2 name changes throughout its history. The company was previously known as Montecarlo Construction Private Limited, and Montecarlo Construction Limited. The current legal name is Montecarlo Limited.
| Company Name | Status |
|---|---|
| Montecarlo Limited | Current |
| Montecarlo Construction Private Limited | Previous |
| Montecarlo Construction Limited | Previous |
CIN history
Montecarlo has one previous CIN (Corporate Identification Number): U45201GJ1995PLC025082. The current CIN is U40300GJ1995PLC025082, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U40300GJ1995PLC025082 | Current |
| U45201GJ1995PLC025082 | Previous |
Key People
Brijesh Kanubhai Patel Managing Director Mrunal Kanubhai Patel Managing Director Suhas Vasantrao Joshi Whole-Time Director Recognitions & Rankings of Montecarlo
Contact details
Montecarlo Limited's registered office is in Ahmedabad, Gujarat. Its website is mclindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressMontecarlo House Sindhu Bhavan Road Bodakdev, Ahmedabad, Gujarat, India – 380058
- IndustryInfrastructure and Utilities, General Construction Services
To see the full contact details of Montecarlo Limited, buy the company report.
Comprehensive company report
Montecarlo 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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Brands
Montecarlo operates one associated brand: Montecarlo. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Infrastructure firm constructing highways, railways, mining, and energy projects. | mclindia.com |
Business activity
The main business activities of Montecarlo are construction and mining and quarrying. In detail, this covers roads, railways, utility projects and mining of coal and lignite. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects | |
| B | Mining and quarrying | B1 | Mining of Coal and lignite |
To see the full business activity and turnover split of Montecarlo Limited, buy the company report.
Financials of Montecarlo Limited
FY 2024 filings availableMontecarlo Limited reported revenue of ₹5,127.73 Cr (down 3% YoY) for FY 2025.
Revenue · FY 2025
₹5,127.73 Cr ▼ 3%
Net profit · FY 2025
₹453.12 Cr margin 8.8%
EBITDA · FY 2025
₹993.09 Cr margin 19.4%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 3%
3 years · compounded
▲ 15%
5 years · compounded
▲ 11%
EBITDA CAGR growth
1 year
▲ 12%
3 years · compounded
▲ 24%
5 years · compounded
▲ 14%
Revenue fell 3% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 11%. EBITDA rose 12% 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 | ₹993.09 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹453.12 Cr | ||||
| 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 | 19.4% | ||||
| Net Profit Margin | 8.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Montecarlo Limited, buy the company report.
Board of directors and KMP of Montecarlo Limited
Montecarlo Limited currently reports 8 directors and 2 key managerial personnel. 15 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shreyan Dipakbhai Shah Also directs: Montecarlo Vadodara Mumbai Expressway Private Limited | Cfo | 12 Feb 2024 | 2 Years 8 Months | Current |
| Suhas Vasantrao Joshi | Whole-Time Director | 26 Jun 2013 | 13 Years 4 Months | Current |
| Brijesh Kanubhai Patel Also directs: Montecarlo Asset Holdings LLP, Montecarlo Realty LLP, Montecarlo Enterprises Private Limited and 5 more | Managing Director | 02 Mar 1998 | 28 Years 7 Months | Current |
| Suresh Natwarlal Patel | Director | 26 Dec 2022 | 3 Years 10 Months | Current |
| Kalpesh Punamchand Desai | Company Secretary | 01 Jun 2016 | 10 Years 5 Months | Current |
| Nareshkumar Pranshankar Suthar | Whole-Time Director | 01 Oct 2009 | 17 Years 1 Months | Current |
Showing 6 of 10 current directors and KMP. View all directors and KMP
Peer comparison
Montecarlo Limited is compared with the 5 companies closest to it by revenue in the Infrastructure industry (Construction Services, Engineering Procurement and 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 |
|---|---|---|---|---|---|---|
| Hindustan Construction Company Limited | ₹5,726.57 Cr (FY 2025) | -20.0% | Mumbai, Maharashtra, India | |||
| J. Kumar Infraprojects Limited | ₹5,726.49 Cr (FY 2025) | 17.0% | Mumbai, Maharashtra, India | |||
| Patel Engineering Limited | ₹5,259.62 Cr (FY 2025) | 14.0% | Mumbai, Maharashtra, India | |||
| Montecarlo Limitedthis company | ₹5,127.73 Cr (FY 2025) | ₹453.12 Cr | 8.8% | -3.0% | 4,528 | Ahmedabad, Gujarat, India |
| Bridge & Roof Co (India) Ltd | ₹4,532.03 Cr (FY 2025) | 13.0% | Kolkata, West Bengal, India | |||
| Eagle Infra India Limited | ₹4,428.85 Cr (FY 2025) | 12.0% | Ulhasnagar, Maharashtra, India |
To see the full peer comparison of Montecarlo Limited, buy the company report.
Auditor
Montecarlo Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2022 | 117366W/W-100018 |
Shareholding
The shareholding of Montecarlo 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 Montecarlo Limited, buy the company report.
Charges & borrowings
Open charges
₹5,248.31 Cr
Satisfied charges
₹4,843.23 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Oct 2025 | 101181012 | Indian Overseas Bank | ₹9.8 Lakh | Open | |
| 22 Sep 2025 | 101168654 | Indian Overseas Bank | ₹10.3 Lakh | Open | |
| 16 Apr 2025 | 101091130 | Indian Overseas Bank | ₹21.73 Lakh | Open | |
| 04 Apr 2025 | 101078902 | Axis Bank Limited | ₹9.98 Lakh | Open | |
| 23 Dec 2024 | 101021687 | Axis Bank Limited | ₹10.45 Lakh | Open |
To see the full charge records of Montecarlo Limited, buy the company report.
Total charge records: 852 View all charges
Deals & funding
Montecarlo Limited has 8 deals on record (6 secondary share transfers, 2 funding rounds), with disclosed funding of ₹14.75 Cr; the latest was in March 2023.
Total deals
8
Secondary share transfers
6
Funding rounds
2
Disclosed funding
₹14.75 Cr
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Secondary share transfer | Undisclosed | Buyer: Kanubhai M. Patel Brijesh K. Patel Mrunal K. Patel On Behalf Of Kanubhai M. Patel Trust Seller: an individual |
| Mar 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jul 2017 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 3 individuals |
| Mar 2009 | Funding round | ₹3.15 Cr | Investors: Montecarlo Engineering Private Limited , Monetcarlo Projects Limited, Montecarlo Infrastructure Limited |
| Mar 2007 | Funding round | ₹11.6 Cr | Investors: Montecarlo Infrastructure Limited , Monetcarlo Projects Limited, Montecarlo Engineering Private Limited |
To see the full deal history of Montecarlo 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
Montecarlo Limited has 309 court cases on record: 142 filed by Montecarlo, 167 filed against it. 70 cases are pending and 239 are disposed.
Total cases
309
Filed by the company
142
Filed against the company
167
Pending
70
Disposed
239
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 162 | 117 | 46 |
| High courts | 137 | 47 | 22 |
| Supreme Court | 8 | 3 | 1 |
| NCLT | 2 | 0 | 1 |
Cases on record (5 of 309)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (0901-Civil Law : SLPs arising out of interlocutory applications in civil proceedings, amendment of pleadings, time limits for pleadings, interim injunction, addition/deletion of parties, etc.) | Filed by the company against individuals | Disposed |
| High Court of Gujarat | Arbitration matter | Filed by the company against Walls and Bridges India Pvt. Ltd. (Wbipl) | Pending |
| District court, Nagpur, Maharashtra | Court case (Civil M.A.) | Filed against the company by M/S Western Coalfields Limited | Pending |
| High Court of Punjab and Haryana | Revision petition | Filed by the company against Monte Carlo Fashions Ltd Ludhiana and 1 other | Pending |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed by the company against Kunal Structure India Pvt. Ltd. | Pending |
To see the full case history of Montecarlo 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
Montecarlo Limited was last rated by Care on 29 Jan 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 29 Jan 2026 |
To see the full credit ratings and regulatory alerts of Montecarlo Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Montecarlo Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Montecarlo has 15 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
15
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Montecarlo Hura Mining Private Limited | U10100GJ2022PTC136635 | |
| Montecarlo Barjora Mining Private Limited | U10300GJ2016PTC093311 | |
| Montecarlo Jabalpur Smart Metering Private Limited | U40300GJ2022PTC136709 | |
| Montecarlo Enterprises Private Limited | U45201GJ2019PTC109935 | |
| Montecarlo Bangalore Chennai Expressway P2p1 Private Limited | U45201GJ2021PTC125910 | |
| Montecarlo Balagondapalli Highway Private Limited | U45201GJ2022PTC130914 |
To see the full group structure of Montecarlo Limited, buy the company report.
Employees & EPFO
Montecarlo Limited has a workforce of 4,528 employees on its EPFO records as of Apr 10, 2024, across 2 active EPFO establishments.
Employee count
4,528
Active EPFO establishments
2
Employee growth
6.62%
GST
Montecarlo has 23 GST registrations: 20 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
23
Active
20
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACM7958A1ZN | Gujarat | Active | 01 Jul 2017 |
| 24AAACM7958A2ZM | Gujarat | Active | 28 Jul 2017 |
| 02AAACM7958A1ZT | Himachal Pradesh | Active | 01 Jul 2017 |
| 06AAACM7958A1ZL | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Montecarlo Limited, buy the company report.
Recent activity
Montecarlo Limited has 23 board changes on record since 1998: 10 appointments and 13 cessations. The latest: Shreyan Dipakbhai Shah was appointed as CFO on 12 Feb 2024.
Charges
A charge registered on 28 Oct 2020 via Charge ID 100385199 with Axis Bank Limited was fully satisfied on 12 Nov 2025.
Charges
A charge registered on 11 Dec 2019 via Charge ID 100308029 with Others was fully satisfied on 12 Nov 2025.
Charges
A charge registered on 26 Nov 2019 via Charge ID 100305217 with Others was fully satisfied on 12 Nov 2025.
Charges
A charge registered on 27 Dec 2018 via Charge ID 100232022 with Others was fully satisfied on 12 Nov 2025.
Charges
A charge registered on 01 Oct 2018 via Charge ID 100209805 with Others was fully satisfied on 12 Nov 2025.
Charges
A charge with Indian Overseas Bank amounted to Rs. 0.10 Cr with Charge ID 101181012 was registered on 18 Oct 2025.
Charges
A charge registered on 31 Dec 2018 via Charge ID 100230275 with Others was fully satisfied on 13 Oct 2025.
Charges
A charge registered on 26 Sep 2018 via Charge ID 100212346 with Others was fully satisfied on 13 Oct 2025.
Charges
A charge registered on 26 Sep 2018 via Charge ID 100212351 with Others was fully satisfied on 13 Oct 2025.
Charges
A charge registered on 20 Sep 2018 via Charge ID 100211614 with Others was fully satisfied on 13 Oct 2025.
Charges
A charge registered on 20 Sep 2018 via Charge ID 100211615 with Others was fully satisfied on 13 Oct 2025.
Charges
A charge registered on 20 Sep 2018 via Charge ID 100211336 with Others was fully satisfied on 13 Oct 2025.
1585 earlier events are in the company report.
News
Frequently asked questions
Montecarlo is an active public limited company based in Ahmedabad, Gujarat, India. The company works in general construction services, within the infrastructure and utilities industry. It was incorporated on 20 March 1995 (31+ years old) and is registered under CIN U40300GJ1995PLC025082.
Montecarlo has 10 current directors and KMP:
- Brijesh Kanubhai Patel - Managing Director
- Mrunal Kanubhai Patel - Managing Director
- Suhas Vasantrao Joshi - Whole-Time Director
- Nareshkumar Pranshankar Suthar - Whole-Time Director
- Suresh Natwarlal Patel - Director
- Dipak Kamlakar Palkar - Director
- Kanubhai Mafatlal Patel - Director
- Purvi Sushil Parikh - Director
- Shreyan Dipakbhai Shah - Cfo
- Kalpesh Punamchand Desai - Company Secretary
The latest financial statements of Montecarlo on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Montecarlo is 24AAACM7958A1ZN, registered in Gujarat. The company has 23 GST registrations in all, of which 20 are active and 3 are cancelled or inactive. Other active GSTINs include 24AAACM7958A2ZM (Gujarat), 02AAACM7958A1ZT (Himachal Pradesh), 06AAACM7958A1ZL (Haryana).
The CIN (Corporate Identification Number) of Montecarlo is U40300GJ1995PLC025082. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Montecarlo has 309 court cases on record: 142 filed by the company and 167 filed against it. 70 are pending. Most are in the district courts.
Montecarlo was incorporated on 20 March 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Montecarlo has 8 deals on record (6 secondary share transfers, 2 funding rounds), with disclosed funding of ₹14.75 Cr; the latest was in March 2023.
The peers of Montecarlo by revenue are Hindustan Construction Company Limited, J. Kumar Infraprojects Limited, Patel Engineering Limited, Bridge & Roof Co (India) Ltd, Eagle Infra India Limited, all in the Infrastructure industry (Construction Services, Engineering Procurement and Construction), with the same principal business activity (roads, railways, utility projects).
Shreyan Dipakbhai Shah was appointed as CFO on 12 Feb 2024. Nigam Gautamkumar Shah ceased to be CFO on 15 Oct 2023. Purvi Sushil Parikh ceased to be Additional Director on 28 Sep 2023. Montecarlo has 23 board changes on record in total.
Montecarlo can be reached through the website mclindia.com. Its registered office is in Ahmedabad, Gujarat, India.
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