About Northway Spaces Limited
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Northway Spaces Limited is a public limited company based in Vadodara, Gujarat, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 13 March 2007 and has been in existence for over 19 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U70106GJ2007PLC050205. Its GSTIN is 24AADCD6051A1ZB (Gujarat).
The company has an authorised share capital of ₹15 Cr and a paid-up capital of ₹4.68 Cr. It was formerly known as Diamond Power Infrastructure Development Company Private Limited and Mayfair Spaces Private Limited. It is led by directors including Sangram Jayraj Barot and Jigneshbhai Nalinbhai Kotadiya.
Its last annual general meeting (AGM) was held on 30 September 2017, and its latest financial statements are for the year ended 31 March 2017. The registered office is at 5/9 – 10 Essen House Bidc Gorwa, Vadodara, Gujarat, India – 390016.
As per the financials filed for FY 2017, the company reported a revenue of ₹30.37 Cr, a growth of 44% compared to the previous year. For the same year it recorded a net profit of ₹1.31 Lakh (net margin 0%) and EBITDA of ₹5.67 Cr (EBITDA margin 18.7%).
The company has about 32 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹116.75 Cr and satisfied charges of ₹9.5 Cr on record. Court records list 29 cases involving the company, including 12 filed by the company and 17 filed against it; 9 cases are pending. The company has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹4.67 Cr; the latest was in March 2017.
The current compliance status is marked as active non-compliant by the Registrar of Companies. For more details, the company can be reached via its website mayfairspaces.com.
Company details
Name history
Northway Spaces has undergone 4 name changes throughout its history. The current legal name is Northway Spaces Limited.
| Company Name | Status |
|---|---|
| Northway Spaces Limited | Current |
| Diamond Power Infrastructure Development Company Private Limited | Previous |
| Mayfair Spaces Private Limited | Previous |
| Mayfair Spaces Limited | Previous |
| Northstar Reality Limited | Previous |
CIN history
Northway Spaces has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U70106GJ2007PLC050205, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U70106GJ2007PLC050205 | Current |
| U70106GJ2007PTC050205 | Previous |
| U45207GJ2007PTC050205 | Previous |
Contact details
Northway Spaces Limited's registered office is in Vadodara, Gujarat. Its website is mayfairspaces.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address5/9 – 10 Essen House Bidc Gorwa, Vadodara, Gujarat, India – 390016
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Northway Spaces 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 Northway Spaces is real estate. In detail, this covers real estate activities with own or leased property.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property |
To see the full business activity and turnover split of Northway Spaces Limited, buy the company report.
Financials of Northway Spaces Limited
FY 2017 filings availableNorthway Spaces Limited reported revenue of ₹30.37 Cr (up 44% YoY) for FY 2017.
Compounded Annual Growth Rate (CAGR)
Revenue rose 44% in the latest year. EBITDA rose 782% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profit and Loss Statement | |||
| Revenue from Operations | ₹30.37 Cr | ||
| Other Income | |||
| Total Revenue | |||
| Cost of Materials Consumed | |||
| Employee Benefit Expense | |||
| Finance Costs | |||
| Depreciation and Amortisation | |||
| Other Expenses | |||
| Total Expenses | |||
| EBITDA | ₹5.67 Cr | ||
| Profit Before Tax | |||
| Tax Expense | |||
| Net Profit (PAT) | ₹1.31 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
| Metrics | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|
| Profitability | |||
| EBITDA Margin | 18.7% | ||
| Net Profit Margin | 0% | ||
| 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 Northway Spaces Limited, buy the company report.
Board of directors of Northway Spaces Limited
Northway Spaces has 3 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sangram Jayraj Barot Also directs: Oneknotone Technologies LLP, H.Art for Art LLP | Director | 20 Jan 2021 | 5 Years 9 Months | Current |
| Jigneshbhai Nalinbhai Kotadiya | Director | 20 Jan 2021 | 5 Years 9 Months | Current |
| Navnitbhai Balubhai Rudani | Director | 20 Jan 2021 | 5 Years 9 Months | Current |
Auditor
Northway Spaces Limited is audited by NARESH & CO for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| NARESH & CO | FY 2017 | 106928W |
Shareholding
The shareholding of Northway Spaces Limited is on record for 2 financial years, the latest being FY 2017, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Northway Spaces Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Sep 2013 | 10456429 | Axis Bank Limited | ₹40 Cr | Open | |
| 19 Sep 2013 | 10456441 | Axis Bank Limited | ₹40 Cr | Open | |
| 28 Mar 2012 | 10349540 | Sicom Limited | ₹6.75 Cr | Open | |
| 28 Mar 2012 | 10349543 | Sicom Limited | ₹10 Cr | Open | |
| 28 Mar 2012 | 10349546 | Sicom Limited | ₹20 Cr | Open |
To see the full charge records of Northway Spaces Limited, buy the company report.
Total charge records: 6 View all charges
Deals & funding
Northway Spaces Limited has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹4.67 Cr; the latest was in March 2017.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Sumit Bhatnagar HUF, Amit Bhatnagar HUF, S N Bhatnagar HUF Seller: Madhuri Finserve Private Limited , Diamond Infosystems Limited , 2 individuals |
| Jan 2017 | Secondary share transfer | Undisclosed | Buyer: Sumit Bhatnagar HUF Seller: Diamond Projects Limited , 2 individuals |
| Jan 2012 | Funding round | ₹4.67 Cr | Investors: Madhuri Finserve Private Limited , Diamond Infosystems Limited , Diamond Projects Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Northway Spaces Limited has 29 court cases on record: 12 filed by Northway Spaces, 17 filed against it. 9 cases are pending and 20 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 14 | 5 | 3 |
| District courts | 9 | 8 | 4 |
| NCLT | 5 | 4 | 1 |
| NCLAT | 1 | 0 | 1 |
Cases on record (5 of 29)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed by the company against Diamond Power Infrastructure Limited and 12 others | Pending |
| NCLT, Ahmedabad | Insolvency matter | Filed by the company against Nuvoco Vistas Corporation Limited (Formerly Known As Lafarge India Limited) | Pending |
| District court, SURAT, Gujarat | Criminal complaint | Filed against the company by Chandreshbhai Nanjibhai Sanghani, Director of Litecon Industries Pvt Ltd | Disposed |
| NCLT, Ahmedabad | Insolvency matter | Filed against the company by Nuvoco Vistas Corporation Limited | Disposed |
| Bombay High Court | Writ petition | Filed against the company by Diamond Power Transformers Ltd. and 3 Ors | Disposed |
To see the full case history of Northway Spaces 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 Northway Spaces Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Northway Spaces Limited has a workforce of 32 employees on its EPFO records as of Mar 21, 2024, across 1 active EPFO establishment.
GST
Northway Spaces has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AADCD6051A1ZB | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Northway Spaces Limited, buy the company report.
Recent activity
Northway Spaces Limited has 14 board changes on record since 2011: 3 appointments and 11 cessations. The latest: Jigneshbhai Nalinbhai Kotadiya was appointed as Director on 20 Jan 2021.
12 earlier events are in the company report.
Frequently asked questions
Northway Spaces is an active public limited company based in Vadodara, Gujarat, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 13 March 2007 (19+ years old) and is registered under CIN U70106GJ2007PLC050205.
Northway Spaces has 3 current directors:
- Sangram Jayraj Barot - Director
- Jigneshbhai Nalinbhai Kotadiya - Director
- Navnitbhai Balubhai Rudani - Director
The latest financial statements of Northway Spaces on record with the MCA are for the year ended 31 March 2017. Its last annual general meeting was held on 30 September 2017. Year-wise statements from 2015 are in the company report.
The GSTIN of Northway Spaces is 24AADCD6051A1ZB, registered in Gujarat.
The CIN (Corporate Identification Number) of Northway Spaces is U70106GJ2007PLC050205. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Northway Spaces has 29 court cases on record: 12 filed by the company and 17 filed against it. 9 are pending. Most are in the high courts.
Northway Spaces was incorporated on 13 March 2007, making it 19+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Northway Spaces has 3 deals on record (2 secondary share transfers, 1 funding round), with disclosed funding of ₹4.67 Cr; the latest was in March 2017.
Jigneshbhai Nalinbhai Kotadiya was appointed as Director on 20 Jan 2021. Navnitbhai Balubhai Rudani was appointed as Director on 20 Jan 2021. Sangram Jayraj Barot was appointed as Director on 20 Jan 2021. Northway Spaces has 14 board changes on record in total.
Northway Spaces can be reached through the website mayfairspaces.com. Its registered office is in Vadodara, Gujarat, India.