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 655 cases involving the company, including 248 filed by the company and 407 filed against it; 173 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.
CIN History of Nandi Infrastructure Corridor Enterprise Limited
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 |
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressNo 1 Midford House Midford Gardens Off M.G.Road, Bangalore, Karnataka, India – 560001
- IndustryInfrastructure and Utilities, General Infrastructure Services
- 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 of Nandi Infrastructure Corridor Enterprise Limited
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 | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| F | Construction | F2 | Roads, railways, Utility projects | Locked |
| F | Construction | F3 | Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities | 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
Verified entity values are shown only after access is granted.
Financials of Nandi Infrastructure Corridor Enterprise Limited FY 2025 filings available
Nandi Infrastructure Corridor Enterprise Limited reported revenue of ₹9.42 Lakh (down 95% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Nandi Infrastructure Corridor Enterprise Limited
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 of Nandi Infrastructure Corridor Enterprise Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| 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 | -₹37.45 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹4.53 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 of Nandi Infrastructure Corridor Enterprise Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -397.5% | •••• | •••• | •••• | •••• |
| Net Profit Margin | •••• | •••• | •••• | •••• | •••• |
| 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 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 Nandi Infrastructure Corridor Enterprise are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
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 |
Peer Comparison of Nandi Infrastructure Corridor Enterprise Limited
Nandi Infrastructure Corridor Enterprise Limited is compared with the companies closest to it by revenue in the Infrastructure industry (Infrastructure Services). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Jagbadan Infratech Private Limited | ₹9.62 Lakh (FY 2023) | •••• | •••• | 9.0% | •••• | Siliguri, West Bengal, India |
| Gianis Properties Private Limited | ₹9.6 Lakh (FY 2025) | •••• | •••• | -2.0% | •••• | Kolkata, West Bengal, India |
| Fit Infra-Trade Development Company Private Limited | ₹9.6 Lakh (FY 2025) | •••• | •••• | •••• | New Delhi, Delhi, India | |
| Mantram Quality Assurance Private Limited | ₹9.53 Lakh (FY 2024) | •••• | •••• | 0.0% | •••• | New Delhi, Delhi, India |
| Nagnechi Interiors Private Limited | ₹9.5 Lakh (FY 2025) | •••• | •••• | 1164.0% | •••• | Mumbai, Maharashtra, India |
| Nandi Infrastructure Corridor Enterprise Limited this company | ₹9.42 Lakh (FY 2025) | •••• | •••• | -95.0% | •••• | Bangalore, Karnataka, India |
| Genome Valley Pharma Parks and Incubators Private Limited | ₹9.12 Lakh (FY 2025) | •••• | •••• | -57.0% | •••• | Thane, Maharashtra, India |
| Yash Engineering Pvt Ltd | ₹9.11 Lakh (FY 2024) | •••• | •••• | -96.0% | •••• | Howrah, West Bengal, India |
| NV Infratech Private Limited | ₹9.11 Lakh (FY 2018) | •••• | •••• | 1062.0% | •••• | Delhi, India |
| Aavkar Industrial Park Private Limited | ₹9.02 Lakh (FY 2025) | •••• | •••• | 0.0% | •••• | Vapi, Gujarat, India |
| Dream Forge Infra Private Limited | ₹9.01 Lakh (FY 2025) | •••• | •••• | 778.0% | •••• | Pune, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Nandi Infrastructure Corridor Enterprise by revenue in the Infrastructure industry (Infrastructure Services), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Nandi Infrastructure Corridor Enterprise Limited
Nandi Infrastructure Corridor Enterprise Limited is audited by S. PANNA RAJ & ASSOCIATES for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S. PANNA RAJ & ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Ownership and Shareholding of Nandi Infrastructure Corridor Enterprise Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Nandi Infrastructure Corridor Enterprise Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 06 Feb 2015 | Idbi Trusteeship Services Limited | ₹1,560 Cr | Open |
| 28 Apr 2004 | The Western India Trustee and Executor Company Ltd. | ₹43 Cr | Open |
Total charge records: 2 View all charges
Legal Cases of Nandi Infrastructure Corridor Enterprise Limited
Nandi Infrastructure Corridor Enterprise Limited has 655 court cases on record: 248 filed by Nandi Infrastructure Corridor Enterprise, 407 filed against it. 173 cases are pending and 482 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 497 | 315 | 104 |
| District courts | 108 | 58 | 40 |
| Supreme Court | 50 | 34 | 29 |
Cases on record (5 of 655)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Nandi Economic Corridor Enterprises Ltd and 1 other | Pending |
| District court, RAMANAGARA, Karnataka | Civil suit | Filed by the company against Nandi Economic Corridor Enterprises Limited, Represented by Its Authorized Signatory Mr. A Rudragoud and 1 other | Pending |
| High Court of Karnataka | Appeal | Filed by the company against M/S Nandi Economic Corridor Enterprises Ltd and 1 other | Pending |
| District court, RAMANAGARA, Karnataka | Civil suit | Filed by the company against Nandi Economic Corridor Enterprises Limited Rept Mr.A.Rudragoud and 1 other | Pending |
| District court, BENGALURU RURAL, Karnataka | Civil suit | Filed by the company against Nandi Economic Corridor Enterprises Ltd Rept. by A Rudragoud and 1 other | Pending |
Full case history
All 655 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
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.
Employees and EPFO Compliance at Nandi Infrastructure Corridor Enterprise Limited
Nandi Infrastructure Corridor Enterprise Limited has a workforce of 115 employees as of Apr 05, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Nandi Infrastructure Corridor Enterprise Limited
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 | Locked |
Showing major subsidiaries. Total: 1.
Recent Activity on Nandi Infrastructure Corridor Enterprise Limited
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 listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Nandi Infrastructure Corridor Enterprise Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Nandi Infrastructure Corridor Enterprise Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Nandi Infrastructure Corridor Enterprise Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Nandi Infrastructure Corridor Enterprise Limited
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Nandi Infrastructure Corridor Enterprise Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Related news about Nandi Infrastructure Corridor Enterprise Limited
Frequently Asked Questions about Nandi Infrastructure Corridor Enterprise Limited
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 reported revenue of ₹9.42 Lakh for FY 2025 (down 95% YoY).
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
Nandi Infrastructure Corridor Enterprise reported a net loss of ₹4.53 Cr and EBITDA of -₹37.45 Lakh (EBITDA margin -397.5%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Nandi Infrastructure Corridor Enterprise is -67% over three years and -56% over five years. In the latest year (FY 2025) revenue fell 95%. CAGR is the steady yearly rate that links the first and the last year.
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 655 court cases on record: 248 filed by the company and 407 filed against it. 173 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.
The peers of Nandi Infrastructure Corridor Enterprise by revenue are Jagbadan Infratech Private Limited, Gianis Properties Private Limited, Fit Infra-Trade Development Company Private Limited, Mantram Quality Assurance Private Limited, Nagnechi Interiors Private Limited and 5 more, all in the Infrastructure industry (Infrastructure Services).
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.