About Nandi Infrastructure Corridor Enterprise Limited
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Nandi Infrastructure Corridor Enterprise Limited is a public limited company based in Bangalore, Karnataka, India, a subsidiary of Bf Utilities Limited. It operates in the general infrastructure services segment of the infrastructure and utilities sector. It was incorporated on 19 January 1996 and has been in existence for over 30 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U85110KA1996PLC019619.
The company has an authorised share capital of ₹126 Cr and a paid-up capital of ₹125.09 Cr. It was formerly known as Nandi Infrastructure Corridor Enterprises Limited. It is led by directors including Ashok Kumar Kheny (Managing Director) and Vikram Manohar Munje.
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 No 1 Midford House Midford Gardens Off M.G.Road, Bangalore, Karnataka, India – 560001.
As per the financials filed for FY 2025, the company reported a revenue of ₹9.42 Lakh, a decline of 95% compared to the previous year. For the same year it recorded a net loss of ₹4.53 Cr and EBITDA of -₹37.45 Lakh (EBITDA margin -397.5%). Revenue has declined at a compounded annual rate (CAGR) of 67% over three years and 56% over five years.
The company has about 115 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹1,603 Cr on record. Court records list 659 cases involving the company, including 251 filed by the company and 408 filed against it; 176 cases are 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 nicelimited.com.
Company details
CIN history
Nandi Infrastructure Corridor Enterprise has one previous CIN (Corporate Identification Number): U45203KA1996PLC019619. The current CIN is U85110KA1996PLC019619, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U85110KA1996PLC019619 | Current |
| U45203KA1996PLC019619 | Previous |
Contact details
Nandi Infrastructure Corridor Enterprise Limited's registered office is in Bangalore, Karnataka. Its website is nicelimited.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressNo 1 Midford House Midford Gardens Off M.G.Road, Bangalore, Karnataka, India – 560001
- IndustryInfrastructure and Utilities, General Infrastructure Services
To see the full contact details of Nandi Infrastructure Corridor Enterprise 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
Business activity
The main business activity of Nandi Infrastructure Corridor Enterprise is construction. In detail, this covers roads, railways, utility projects and demolition & site preparation, electrical, plumbing & other specialized construction activities. 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 | |
| F | Construction | F3 | Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities |
Financials of Nandi Infrastructure Corridor Enterprise Limited
FY 2025 filings availableNandi Infrastructure Corridor Enterprise Limited reported revenue of ₹9.42 Lakh (down 95% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 56% over five years, including a 95% fall in the latest year. EBITDA rose 91% 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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| EBITDA | -₹37.45 Lakh | ||||
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| Net Profit (PAT) | -₹4.53 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA Margin | -397.5% | ||||
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To see the full financial statements and ratios of Nandi Infrastructure Corridor Enterprise Limited, buy the company report.
Board of directors and KMP of Nandi Infrastructure Corridor Enterprise Limited
Nandi Infrastructure Corridor Enterprise Limited currently reports 7 directors and 1 key managerial person. 18 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Balaji Naidu Nayanameni Also directs: Nandi Economic Corridor Enterprises Limited. | Company Secretary | 18 Jul 2017 | 9 Years 3 Months | Current |
| Vikram Manohar Munje Also directs: Nandi Economic Corridor Enterprises Limited., Nandi Highway Developers Limited, Agneyastra Energetics Limited and 5 more | Director | 10 Aug 2023 | 3 Years 2 Months | Current |
| Jayant Kumodchandra Hemade | Director | 27 May 2024 | 2 Years 4 Months | Current |
| Bhalchandra Shankar Mitkari Also directs: Nandi Economic Corridor Enterprises Limited., Nandi Highway Developers Limited, BF Utilities Limited and 1 more | Director | 29 Sep 2011 | 15 Years 0 Months | Current |
| Arehalli Subramanyam Basappa Shiva | Director | 10 Nov 2022 | 3 Years 11 Months | Current |
| Deepti Rajeev Puranik Also directs: Nandi Economic Corridor Enterprises Limited., Saarloha Infra Private Limited, DGM Realties Private Limited and 1 more | Director | 16 Jul 2015 | 11 Years 3 Months | Current |
Auditor
Nandi Infrastructure Corridor Enterprise Limited is audited by S. PANNA RAJ & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. PANNA RAJ & ASSOCIATES | FY 2023 | 022509S |
Shareholding
The shareholding of Nandi Infrastructure Corridor Enterprise 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 Nandi Infrastructure Corridor Enterprise Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 06 Feb 2015 | 10550832 | Idbi Trusteeship Services Limited | ₹1,560 Cr | Open | |
| 28 Apr 2004 | 90198426 | The Western India Trustee and Executor Company Ltd. | ₹43 Cr | Open |
To see the full charge records of Nandi Infrastructure Corridor Enterprise Limited, buy the company report.
Total charge records: 2 View all charges
Legal cases
Nandi Infrastructure Corridor Enterprise Limited has 659 court cases on record: 251 filed by Nandi Infrastructure Corridor Enterprise, 408 filed against it. 176 cases are pending and 483 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 497 | 315 | 104 |
| District courts | 108 | 58 | 40 |
| Supreme Court | 54 | 35 | 32 |
Cases on record (5 of 659)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (3001-Land Acquisition and Requisition : Challenge to land acquisition, lapsing of acquisition, de-reservation, requisition and de-requisition of property and others) | Filed against the company by Karnataka Industrial Areas Development Board and 20 others | Pending |
| Supreme Court | Court case (3001-Land Acquisition and Requisition : Challenge to land acquisition, lapsing of acquisition, de-reservation, requisition and de-requisition of property and others) | Filed by the company against M/S Amr Housing Development Corporation and 95 others | Pending |
| Supreme Court | Court case (3002-Land Acquisition and Requisition : Compensation for land acquisition) | Filed by the company against individuals | Disposed |
| Supreme Court | Court case (3002-Land Acquisition and Requisition : Compensation for land acquisition) | Filed by the company against individuals | Pending |
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Nandi Economic Corridor Enterprises Ltd and 1 other | Pending |
To see the full case history of Nandi Infrastructure Corridor Enterprise 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
No delayed payments to MSME suppliers are on our record for Nandi Infrastructure Corridor Enterprise Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Nandi Infrastructure Corridor Enterprise has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Nandi Economic Corridor Enterprises Limited. | U85110KA2000PLC026939 |
To see the full group structure of Nandi Infrastructure Corridor Enterprise Limited, buy the company report.
Employees & EPFO
Nandi Infrastructure Corridor Enterprise Limited has a workforce of 115 employees on its EPFO records as of Apr 05, 2024, across 1 active EPFO establishment.
GST
No GST registration is on our record for Nandi Infrastructure Corridor Enterprise Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Nandi Infrastructure Corridor Enterprise Limited has 26 board changes on record since 1997: 8 appointments and 18 cessations. The latest: Jayant Kumodchandra Hemade ceased to be Additional Director on 29 Sep 2024.
20 earlier events are in the company report.
Frequently asked questions
Nandi Infrastructure Corridor Enterprise is an active public limited company based in Bangalore, Karnataka, India. The company works in general infrastructure services, within the infrastructure and utilities industry. It was incorporated on 19 January 1996 (30+ years old) and is registered under CIN U85110KA1996PLC019619.
Nandi Infrastructure Corridor Enterprise has 8 current directors and KMP:
- Ashok Kumar Kheny - Managing Director
- Vikram Manohar Munje - Director
- Jayant Kumodchandra Hemade - Director
- Bhalchandra Shankar Mitkari - Director
- Arehalli Subramanyam Basappa Shiva - Director
- Deepti Rajeev Puranik - Director
- Shrikrishna Kiran Adivarekar - Director
- Balaji Naidu Nayanameni - Company Secretary
The latest financial statements of Nandi Infrastructure Corridor Enterprise 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 CIN (Corporate Identification Number) of Nandi Infrastructure Corridor Enterprise is U85110KA1996PLC019619. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Nandi Infrastructure Corridor Enterprise has 659 court cases on record: 251 filed by the company and 408 filed against it. 176 are pending. Most are in the high courts.
Nandi Infrastructure Corridor Enterprise was incorporated on 19 January 1996, making it 30+ years old. It is registered with the Registrar of Companies, Bangalore.
Jayant Kumodchandra Hemade ceased to be Additional Director on 29 Sep 2024. Jayant Kumodchandra Hemade was appointed as Director on 27 May 2024. Shrikrishna Kiran Adivarekar was appointed as Director on 07 Nov 2023. Nandi Infrastructure Corridor Enterprise has 26 board changes on record in total.
Nandi Infrastructure Corridor Enterprise can be reached through the website nicelimited.com. Its registered office is in Bangalore, Karnataka, India.
The registered office of Nandi Infrastructure Corridor Enterprise is at No 1 Midford House Midford Gardens Off M.G.Road, Bangalore, Karnataka, India – 560001.
Nandi Infrastructure Corridor Enterprise operates in the infrastructure and utilities industry, in the general infrastructure services segment.