About Propcare Developers Private Limited
Data last updated:
Propcare Developers Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Plaza Agencies Private Limited. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 06 December 1990 and has been in existence for over 36 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U70102KA1990PTC027924. Its GSTIN is 29AAACG4009N1ZG (Karnataka). The company holds 7 GST registrations, of which 4 are active.
The company has an authorised share capital of ₹110 Cr and a paid-up capital of ₹46.19 Cr. It was formerly known as Glory Estate Pvt Ltd. It is led by directors Mohankumar Singapura Jayanna and Methuku Srinivas.
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 C – 5 Rich Homes, No 5/1 Richmond Road Bangalore, Karnataka, India – 560025.
As per the financials filed for FY 2024, the company reported a revenue of ₹244.29 Cr, a decline of 64% compared to the previous year. For the same year it recorded a net loss of ₹44.93 Cr (net margin -18.4%) and EBITDA of ₹109.25 Cr (EBITDA margin 44.7%). Revenue has grown at a compounded annual rate (CAGR) of 2% over five years.
The company has about 209 employees on its provident fund (EPFO) records. Its group structure includes 21 subsidiaries and 3 joint ventures.
As per MCA filings, the company has open charges of ₹6,586.72 Cr and satisfied charges of ₹6,420.77 Cr on record. Court records list 118 cases involving the company, including 36 filed by the company and 82 filed against it; 25 cases are pending. The company has 6 deals on record (4 funding rounds, 2 secondary share transfers), with disclosed funding of ₹530.36 Cr; the latest was in March 2018. The company has 1 MSME Form 1 return on record for the period ending Mar 2022, listing 1 overdue payment to 1 micro and small supplier.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mantri.in.
CIN History
Propcare Developers has one previous CIN (Corporate Identification Number): U70102KA2000PTC027924. The current CIN is U70102KA1990PTC027924, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U70102KA1990PTC027924 | Current |
| U70102KA2000PTC027924 | Previous |
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressC – 5 Rich Homes, No 5/1 Richmond Road Bangalore, Karnataka, India – 560025
- 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 Propcare Developers is real estate. In detail, this covers real estate activities with own or leased property.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property | 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 Propcare Developers Private Limited
FY 2024 filings availablePropcare Developers Private Limited reported revenue of ₹244.29 Cr (down 64% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue fell 64% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 2%. EBITDA rose 244% 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 | ₹109.25 Cr | |
| Profit Before Tax | •••• | |
| Tax Expense | •••• | |
| Net Profit (PAT) | -₹44.93 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 | 44.7% | |
| Net Profit Margin | -18.4% | |
| 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 Propcare Developers are in the company report.
: available in the company report
Board of Directors of Propcare Developers Private Limited
Propcare Developers has 2 current directors and 26 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mohankumar Singapura Jayanna Also directs: Agara Techzone Private Limited, PVK Shelters (India) Private Limited, Trigate Infrastructure Private Limited and 5 more | Director | 25 Mar 2024 | 2 Years 6 Months | Current |
| Methuku Srinivas Also directs: Castles Vista Private Limited, Pratibha Realtors Private Limited, Minerva Infra Tech Private Limited and 5 more | Director | 25 Mar 2024 | 2 Years 6 Months | Current |
Auditor Details
Propcare Developers Private Limited is audited by K.K. Rao & Associates for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| K.K. Rao & Associates | Locked | Locked | Locked |
: available in the company report
Ownership and Shareholding
: available in the company report
Charges & Borrowings
| Date | Lender | Amount | Status |
|---|---|---|---|
| 24 Jan 2024 | Others | ₹460 Cr | Open |
| 17 Jun 2020 | Others | ₹125 Cr | Open |
| 20 Mar 2020 | Others | ₹621.42 Cr | Open |
| 17 Oct 2019 | Others | ₹310 Cr | Open |
| 20 Sep 2019 | Others | ₹260 Cr | Open |
Total charge records: 79 View all charges
Deals & Funding
Propcare Developers Private Limited has 6 deals on record (4 funding rounds, 2 secondary share transfers), with disclosed funding of ₹530.36 Cr; the latest was in March 2018.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2018 | Secondary share transfer | Undisclosed | Seller: Morgan Stanley Real Estate Fund |
| Apr 2012 | Secondary share transfer | Undisclosed | Buyer: 3 individuals Seller: an individual |
| Jun 2008 | Funding round | ₹1.94 Cr | Investors: Kaustubh Estate and Developers Private Limited , 3 individuals |
| Jun 2008 | Funding round | ₹197.09 Cr | Investors: 4 individuals |
| Oct 2007 | Funding round | ₹21.57 Cr | Investors: Plaza Agencies Private 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
Propcare Developers Private Limited has 118 court cases on record: 36 filed by Propcare Developers, 82 filed against it. 25 cases are pending and 93 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 59 | 53 | 8 |
| High courts | 48 | 21 | 17 |
| NCLT | 7 | 5 | 0 |
| Supreme Court | 2 | 1 | 0 |
| NCLAT | 2 | 2 | 0 |
Cases on record (5 of 118)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Arbitration matter | Filed against the company by M/S. Sai Sravanthi Infra Projects Private Limited | Pending |
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Nava Karnataka Property Holdings Pvt Ltd and 2 others | Pending |
| High Court of Karnataka | Writ petition | Filed against the company by Asset Reconstruction Company (India) Ltd., | Pending |
| District court, BENGALURU RURAL, Karnataka | Civil suit | Filed against the company by Krishnapriya Reality LLP Rep by Avnash Amarlal | Pending |
| High Court of Karnataka | Writ petition | Filed against the company by Omkara Assets Reconstruction Private Limited | Pending |
: 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.
MSME Payment Delays
Propcare Developers Private Limited has 1 MSME Form 1 return on record for the period ending Mar 2022, listing 1 overdue payment to 1 micro and small supplier. 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 (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Idbi Trusteeship Services Limited | •••• | •••• | •••• |
: available in the company report
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance
Propcare Developers Private Limited has a workforce of 209 employees as of Apr 07, 2024.
: available in the company report
Group Structure
Propcare Developers has 21 subsidiary companies, 3 joint ventures, and 3 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Castles Vista Private Limited | U07010KA2004PTC035164 | Locked |
| Vismay Realtors Private Limited | U07010KA2004PTC035169 | Locked |
| Minerva Infra Tech Private Limited | U45200KA2007PTC044485 | Locked |
| Hamara Shelters Private Limited | U45201KA2000PTC026181 | Locked |
| Inesh Realtors Private Limited | U45201KA2006PTC039177 | Locked |
| Deeta Constructions Private Limited | U45201KA2006PTC039180 | Locked |
Showing major subsidiaries. Total: 21.
Recent Activity
Propcare Developers Private Limited has 26 board changes on record since 2008: 2 appointments and 24 cessations. The latest: Methuku Srinivas ceased to be Additional Director on 29 Sep 2024.
198 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts
: available in the company report
Subsidiaries & Group Companies
: available in the company report
GST Compliance
Propcare Developers has 7 GST registrations: 4 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAACG4009N1ZG | Karnataka | Active | 01 Jul 2017 |
| 27AAACG4009N1ZK | Maharashtra | Active | 01 Jul 2017 |
| 36AAACG4009N1ZL | Telangana | Active | 01 Jul 2017 |
| 36AAACG4009N2ZK | Telangana | Active | 17 Sep 2017 |
: available in the company report
MCA Filings & Documents
: available in the company report
Frequently Asked Questions
Propcare Developers is an active private limited company based in Bangalore, Karnataka, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 06 December 1990 (36+ years old) and is registered under CIN U70102KA1990PTC027924.
Propcare Developers has 2 current directors:
- Mohankumar Singapura Jayanna - Director
- Methuku Srinivas - Director
The latest financial statements of Propcare Developers 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 Propcare Developers is 29AAACG4009N1ZG, registered in Karnataka. The company has 7 GST registrations in all, of which 4 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACG4009N1ZK (Maharashtra), 36AAACG4009N1ZL (Telangana), 36AAACG4009N2ZK (Telangana).
The CIN (Corporate Identification Number) of Propcare Developers is U70102KA1990PTC027924. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Propcare Developers has 118 court cases on record: 36 filed by the company and 82 filed against it. 25 are pending. Most are in the district courts.
Propcare Developers was incorporated on 06 December 1990, making it 36+ years old. It is registered with the Registrar of Companies, Bangalore.
Propcare Developers has 6 deals on record (4 funding rounds, 2 secondary share transfers), with disclosed funding of ₹530.36 Cr; the latest was in March 2018.
Methuku Srinivas ceased to be Additional Director on 29 Sep 2024. Mohankumar Singapura Jayanna ceased to be Additional Director on 29 Sep 2024. Methuku Srinivas was appointed as Director on 25 Mar 2024. Propcare Developers has 26 board changes on record in total.
Propcare Developers has 1 MSME Form 1 return on record for the period ending Mar 2022, listing 1 overdue payment to 1 micro and small supplier. The latest return was filed on 05 May 2022.
Propcare Developers can be reached through the website mantri.in. Its registered office is in Bangalore, Karnataka, India.