Prime Assetsource Private Limited

Prime Assetsource Private Limited - financial services in Bangalore, Karnataka, India. FY 2026 financials & compliance.
CIN U72200KA2009PTC050135 Incorporated 16 June 2009 ROC Bangalore HQ Bangalore, Karnataka, India
Active Private Limited Company financial services MSME · Medium
Data last updated
Revenue · FY 2024
₹95.88 Cr
▲ 3% YoY
Net profit · FY 2024
₹94.82 Lakh
Net margin 1%
EBITDA · FY 2024
₹9.9 Cr
EBITDA margin 10.3%
Authorised capital
₹2 Cr
Registered with MCA
Paid-up capital
₹2 Cr
Issued & subscribed
Open charges
₹38.95 Cr
Satisfied ₹29.83 Cr
Company age
17 yrs
Est. 2009
Employees · EPFO
24
Provident fund records

About Prime Assetsource Private Limited

Data last updated:

Prime Assetsource Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the equipment leasing and financing segment of the financial services sector. It was incorporated on 16 June 2009 and has been in existence for over 17 years.

The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2009PTC050135. Its GSTIN is 29AAFCP0774J1Z2 (Karnataka). The company holds 3 GST registrations, all of them active.

The company has an authorised share capital of ₹2 Cr and a paid-up capital of ₹2 Cr. It is led by directors Preet Navinchand Sonawala and Kempe Gowda Raghavendra.

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 58/1 Level 1 To Level 4 13th Cross Margosa Road Malleswaram, Bangalore, Karnataka, India – 560003.

As per the financials filed for FY 2024, the company reported a revenue of ₹95.88 Cr, a growth of 3% compared to the previous year. For the same year it recorded a net profit of ₹94.82 Lakh (net margin 1%) and EBITDA of ₹9.9 Cr (EBITDA margin 10.3%). Revenue has grown at a compounded annual rate (CAGR) of 31% over three years and 32% over five years.

The company has about 24 employees on its provident fund (EPFO) records.

As per MCA filings, the company has open charges of ₹38.95 Cr and satisfied charges of ₹29.83 Cr on record. Court records list 21 cases involving the company, including 21 filed by the company; 2 cases are pending.

Prime Assetsource Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0123812). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website primeassetsource.com.

Company Details of Prime Assetsource Private Limited
CIN U72200KA2009PTC050135
Registration Number 050135
Incorporation Date 16 June 2009
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0123812
Key People
Preet Navinchand Sonawala Director Kempe Gowda Raghavendra Director

Recognitions & Rankings of Prime Assetsource

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-KR-03-0123812
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    primeassetsource.com
  • Social Media
    Locked
  • Registered Address
    58/1 Level 1 To Level 4 13th Cross Margosa Road Malleswaram, Bangalore, Karnataka, India – 560003
  • Industry
    Financial Services, Equipment Leasing & Financing
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Financials, compliance, directors, charges, ownership and filings for Prime Assetsource Private Limited in one report.

Financials from 2015 Directors & ownership Charges & compliance

Business Activity

The main business activities of Prime Assetsource are support service to organizations and trade. In detail, this covers rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities and wholesale trading. 2 activity segments are registered with the MCA.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
NSupport service to OrganizationsN1Rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activitiesLocked
GTradeG1Wholesale TradingLocked
Premium access

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 Prime Assetsource Private Limited

FY 2024 filings available

Prime Assetsource Private Limited reported revenue of ₹95.88 Cr (up 3% YoY) for FY 2024.

Revenue · FY 2024
₹95.88 Cr ▲ 3%
Net profit · FY 2024
₹94.82 Lakh margin 1%
EBITDA · FY 2024
₹9.9 Cr margin 10.3%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 3%
3 years · compounded
▲ 31%
5 years · compounded
▲ 32%
EBITDA CAGR growth
1 year
▲ 10%
3 years · compounded
▲ 16%
5 years · compounded
▲ 17%

Revenue has grown at a compounded annual rate (CAGR) of 32% over five years, including 3% growth in the latest year. EBITDA rose 10% 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

MetricsFY 2023-24FY 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₹9.9 Cr
Profit Before Tax••••
Tax Expense••••
Net Profit (PAT)₹94.82 Lakh
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

MetricsFY 2023-24FY 2019-20 to FY 2022-23in the company report
Profitability
EBITDA Margin10.3%
Net Profit Margin1%
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 Prime Assetsource are in the company report.

Financial statements from 2015: available in the company report

Board of Directors of Prime Assetsource Private Limited

Prime Assetsource has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Preet Navinchand Sonawala
Also directs: Clay Works Studio LLP, Medikrypt Health Technologies LLP
Director16 Jun 200917 Years 4 MonthsCurrent
Kempe Gowda Raghavendra
Also directs: Codeswift Technologies LLP, Digital Waves International Private Limited, Kohinoor Commodeal Private Limited and 2 more
Director06 Jun 20188 Years 4 MonthsCurrent
View all directors

Auditor Details

Prime Assetsource Private Limited is audited by Ganapath Raj & Co for the financial year 2023.

NameStatusAppointment DateCessation Date
Ganapath Raj & CoLockedLockedLocked

Complete auditor history: available in the company report

Ownership and Shareholding

Shareholding and ownership data: available in the company report

Charges & Borrowings

Open charges
₹38.95 Cr
Satisfied charges
₹29.83 Cr
Breakdown by lending institutions
Others₹38.95 Cr
Latest charge details
DateLenderAmountStatus
31 May 2025Others₹5 CrOpen
13 Sep 2019Others₹33.95 CrOpen
05 Oct 2018Others₹1.27 CrSatisfied
04 Jul 2018Others₹1.03 CrSatisfied
05 Dec 2017Others₹1.05 CrSatisfied

Total charge records: 45 View all charges

Employees and EPFO Compliance

Prime Assetsource Private Limited has a workforce of 24 employees as of Apr 08, 2024.

Employee count
24
Active EPFO establishments
1
Employee growth
-11.11%

Employee and EPFO history: available in the company report

Group Structure

Prime Assetsource has 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.

1
Associated companies

Recent Activity

Prime Assetsource Private Limited has 6 board changes on record since 2009: 2 appointments and 4 cessations. The latest: Deepa Kaushik Sonawala ceased to be Director on 30 Oct 2018.

Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 101106110 was registered on 31 May 2025.
Charges
A charge with Others of Rs. 33.95 Cr registered on 13 Sep 2019 with Charge ID 100302638 was modified on 23 Dec 2024.
AGM
Prime Assetsource Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Prime Assetsource Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Charges
A charge registered on 16 Nov 2016 via Charge ID 100061859 with Dbs Bank Ltd was fully satisfied on 17 Aug 2021.
Charges
A charge registered on 21 Aug 2013 via Charge ID 10450468 with Dbs Bank Ltd. was fully satisfied on 17 Aug 2021.
Charges
A charge registered on 05 Oct 2018 via Charge ID 100208370 with Others was fully satisfied on 07 Mar 2020.
Charges
A charge registered on 04 Jul 2018 via Charge ID 100187785 with Others was fully satisfied on 07 Mar 2020.
Charges
A charge registered on 22 Jun 2017 via Charge ID 100105276 with Others was fully satisfied on 07 Mar 2020.
Charges
A charge registered on 07 Apr 2017 via Charge ID 100090788 with Others was fully satisfied on 07 Mar 2020.
Charges
A charge registered on 08 Mar 2017 via Charge ID 100081792 with Others was fully satisfied on 07 Mar 2020.
Charges
A charge registered on 05 Dec 2017 via Charge ID 100138704 with Others was fully satisfied on 04 Mar 2020.

87 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts

Credit ratings, litigation, and regulatory alerts: available in the company report

MSME Payment Delays

MSME payment history: available in the company report

Subsidiaries & Group Companies

Corporate group structure: available in the company report

GST Compliance

Prime Assetsource has 3 GST registrations: 3 active.

Total GSTINs
3
Active
3
GSTINStateStatusRegistered on
29AAFCP0774J1Z2KarnatakaActive01 Jul 2017
36AAFCP0774J1Z7TelanganaActive01 Jul 2017
27AAFCP0774J1Z6MaharashtraActive27 Nov 2019

GST registrations and filing compliance: available in the company report

MCA Filings & Documents

MCA filings and documents: available in the company report

Frequently Asked Questions

Prime Assetsource is an active private limited company based in Bangalore, Karnataka, India. The company works in equipment leasing and financing, within the financial services industry. It was incorporated on 16 June 2009 (17+ years old) and is registered under CIN U72200KA2009PTC050135.

Prime Assetsource has 2 current directors:

The latest financial statements of Prime Assetsource 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 Prime Assetsource is 29AAFCP0774J1Z2, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 36AAFCP0774J1Z7 (Telangana), 27AAFCP0774J1Z6 (Maharashtra).

The CIN (Corporate Identification Number) of Prime Assetsource is U72200KA2009PTC050135. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Prime Assetsource has 21 court cases on record: 21 filed by the company. 2 are pending. Most are in the district courts.

Prime Assetsource was incorporated on 16 June 2009, making it 17+ years old. It is registered with the Registrar of Companies, Bangalore.

Deepa Kaushik Sonawala ceased to be Director on 30 Oct 2018. Kempe Gowda Raghavendra ceased to be Additional Director on 29 Sep 2018. Manish Ojha ceased to be Additional Director on 29 Sep 2018. Prime Assetsource has 6 board changes on record in total.

Yes, Prime Assetsource is registered as a medium enterprise under Udyam registration (number: UDYAM-KR-03-0123812).

Prime Assetsource can be reached through the website primeassetsource.com. Its registered office is in Bangalore, Karnataka, India.

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