Narang Developers Private Limited
About Narang Developers Private Limited
Data last updated:
Narang Developers Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Bombay Isle Developers Private Limited. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 09 November 1990.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH1990PTC058917. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹25 Lakh. It is led by directors including Rakesh Hansraj Bothra (Irp/Rp/Liquidator) and Amit Amarchand Narang.
Its last annual general meeting (AGM) was held on 30 September 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹23.22 Lakh, a decline of 21% compared to the previous year. For the same year it recorded a net loss of ₹71,080 (net margin -3.1%) and EBITDA of ₹1.99 Cr. Revenue has declined at a compounded annual rate (CAGR) of 51% over three years and 23% over five years.
As per MCA filings, the company has open charges of ₹52.85 Cr and satisfied charges of ₹16 Cr on record. Court records list 69 cases involving the company, including 27 filed by the company and 42 filed against it; 13 cases are pending.
Company details
Contact details
Narang Developers Private Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressNarang Manor Plot No 96 – B Ground Floor 15th Road, B Andra – W India, Mumbai, Maharashtra, India – 400050
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Narang Developers Private 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
Financials of Narang Developers Private Limited
FY 2023 filings availableNarang Developers Private Limited reported revenue of ₹23.22 Lakh (down 21% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 23% over five years, including a 21% fall in the latest year. EBITDA fell 1% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹23.22 Lakh | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1.99 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹71,080 | ||||
| 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | |||||
| Net Profit Margin | -3.1% | ||||
| 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 | |||||
To see the full financial statements and ratios of Narang Developers Private Limited, buy the company report.
Board of directors of Narang Developers Private Limited
Narang Developers has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rakesh Hansraj Bothra Also directs: Tatkal Loan India Private Limited | Irp/Rp/Liquidator | 30 Apr 2024 | 2 Years 5 Months | As last reported |
| Amit Amarchand Narang Also directs: Narang and Mahaveer Developers LLP, Ameet Narang Landschaft LLP, Csango Industries Private Limited and 5 more | Director | 24 Jul 1996 | 30 Years 3 Months | As last reported |
| Gunit Amit Narang Also directs: Ameet Narang Landschaft LLP, Csango Industries Private Limited, Navrang Leathers Pvt Ltd and 5 more | Director | 31 Mar 2008 | 18 Years 6 Months | As last reported |
Auditor
Narang Developers Private Limited is audited by Vipul Subhash & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Vipul Subhash & Associates | FY 2023 | 187398 |
Shareholding
The shareholding of Narang Developers Private 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 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Narang Developers Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 03 May 2018 | 100190965 | Others | ₹15 Cr | Open | |
| 31 Mar 2017 | 100091719 | Indian Bank | ₹7.85 Cr | Open | |
| 30 Sep 2011 | 10312606 | Sicom Limited | ₹9 Cr | Open | |
| 30 Sep 2011 | 10315089 | Sicom Limited | ₹10 Cr | Open | |
| 30 Sep 2011 | 10315292 | Sicom Limited | ₹11 Cr | Open |
To see the full charge records of Narang Developers Private Limited, buy the company report.
Total charge records: 7 View all charges
Legal cases
Narang Developers Private Limited has 69 court cases on record: 27 filed by Narang Developers, 42 filed against it. 13 cases are pending and 56 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 38 | 20 | 4 |
| District courts | 24 | 17 | 7 |
| NCLAT | 7 | 5 | 2 |
Cases on record (5 of 69)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed by the company against Csango Industries Private Limited | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed by the company against Pacific Link Export Industries Private Limited | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed against the company by Aditya Birla Finance Ltd | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (SUMMONS CASES SS) | Filed against the company by Aditya Birla Finance Limited | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Secu. Case) | Filed against the company by Aditya Birla Finance Ltd. | Disposed |
To see the full case history of Narang Developers Private 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 Narang Developers Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Narang Developers has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Narang Developers Private Limited, buy the company report.
Recent activity
Narang Developers Private Limited has 6 board changes on record since 1996: 3 appointments and 3 cessations. The latest: Rakesh Hansraj Bothra was appointed as Irp/Rp/Liquidator on 30 Apr 2024.
7 earlier events are in the company report.
Frequently asked questions
Narang Developers is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Narang Developers is a company under insolvency, formerly operating as a private limited company based in Mumbai, Maharashtra, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 09 November 1990 and is registered under CIN U45200MH1990PTC058917. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Narang Developers has 3 current directors:
- Amit Amarchand Narang - Director
- Gunit Amit Narang - Director
- Rakesh Hansraj Bothra - Irp/Rp/Liquidator
The latest financial statements of Narang Developers on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 30 September 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Narang Developers is U45200MH1990PTC058917. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Narang Developers has open charges of ₹52.85 Cr and satisfied charges of ₹16 Cr as per latest MCA filings.
Narang Developers has 69 court cases on record: 27 filed by the company and 42 filed against it. 13 are pending. Most are in the high courts.
Narang Developers was incorporated on 09 November 1990. It is registered with the Registrar of Companies, Mumbai.
Rakesh Hansraj Bothra was appointed as Irp/Rp/Liquidator on 30 Apr 2024. Amarchand Lakhmichand Narang ceased to be Director on 11 Sep 2015. Kunal Dilip Narang ceased to be Additional Director on 29 Sep 2012. Narang Developers has 6 board changes on record in total.
The registered office of Narang Developers is at Narang Manor Plot No 96 – B Ground Floor 15th Road, B Andra – W India, Mumbai, Maharashtra, India – 400050.