About Open Elite Developers Limited
Data last updated:
Open Elite Developers Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Authum Investment & Infrastructure Limited. It operates in the non-banking financial services (NBFC) segment of the financial services sector. It was incorporated on 17 August 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U68200MH2000PLC128301. Its GSTIN is 27AABCR6898M1ZH (Maharashtra). The company holds 21 GST registrations, of which 18 are active.
The company has an authorised share capital of ₹1,000.2 Cr and a paid-up capital of ₹535.47 Cr. It was formerly known as Reliance Gilts Limited. It is led by directors Bhaviika Bharatkumar Jain and Rahul Arun Bagaria.
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 Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹178.86 Cr, a growth of 9% compared to the previous year. For the same year it recorded a net profit of ₹208.35 Cr (net margin 116.5%) and EBITDA of ₹1,308.76 Cr. Revenue has declined at a compounded annual rate (CAGR) of 31% over three years and 37% over five years.
The company has about 270 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Reliance Money. As per MCA filings, the company has open charges of ₹1,780.05 Cr and satisfied charges of ₹13,606 Cr on record. Court records list 5,197 cases involving the company, including 4,955 filed by the company and 188 filed against it; 534 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 reliancemoney.co.in.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressThe Ruby 11th Floor North – West Wing Plot No. 29, Senapati Bapat Marg Dadar (West) Mumba, Mumbai, Maharashtra, India – 400028
- IndustryFinancial Services, NBFC, Investment & Credit NBFC
- 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
Name History of Open Elite Developers Limited
Open Elite Developers has undergone 2 name changes throughout its history. The company was previously known as Reliance Gilts Limited, and Open Elite Developers Limited. The current legal name is Open Elite Developers Limited.
| Company Name | Status |
|---|---|
| Open Elite Developers Limited | Current |
| Reliance Gilts Limited | Previous |
CIN History of Open Elite Developers Limited
Open Elite Developers has one previous CIN (Corporate Identification Number): U66010MH2000PLC128301. The current CIN is U68200MH2000PLC128301, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U68200MH2000PLC128301 | Current |
| U66010MH2000PLC128301 | Previous |
Associated Brands with Open Elite Developers Limited
Open Elite Developers operates one associated brand: Reliance Money. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides consumer and commercial loans with financial services in India. | reliancemoney.co.in |
Competitors & Alternatives of Open Elite Developers Limited
Brands and companies operating in the same space as Open Elite Developers Limited include Manappuram Finance, L & T Finance Holdings, Bajaj Finserv and 6 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
 Manappuram Finance | Consumer and SME loans are provided by Manappuram Finance. | Valapad, India | 1992 |
 L & T Finance Holdings | Diversified lending services are provided as a non-banking financial institution. | Mumbai, India | 1994 |
 Bajaj Finserv | Financial solutions including loans and insurance are offered. | Pune, India | 2007 |
 Northern Arc Capital | Household and business loans are provided with risk management support. | Chennai, India | 2006 |
 IIFL Finance | Online gold, home, personal, and business loans are provided. | Mumbai, India | 1995 |
 Mahindra Finance | Consumer and SME loans are provided by Mahindra Finance. | Mumbai, India | 1991 |
 Hero Fincorp | 2-wheeler loans and consumer/business financing are provided by Hero Fincorp. | Delhi, India | 1991 |
 Kinara Capital | Collateral-free loans are provided to MSMEs for business operations. | Bengaluru, India | 2011 |
 Dvara KGFS | Loans for consumers and SMEs are provided alongside financial services. | Chennai, India | 2008 |
Auditor Details of Open Elite Developers Limited
Open Elite Developers Limited is audited by Price Waterhouse & Co Chartered Accountants LLP for the financial year 2018.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Price Waterhouse & Co Chartered Accountants LLP | 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.
Board of Directors of Open Elite Developers Limited
Open Elite Developers has 2 current directors and 29 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Bhaviika Bharatkumar Jain Also directs: Winmore Leasing and Holdings Limited | Director | 09 Jan 2023 | 3 Years 8 Months | Current |
| Rahul Arun Bagaria Also directs: Bagaria & Co LLP, India Pesticides Limited., Authum Investment & Infrastructure Limited and 2 more | Director | 05 Nov 2022 | 3 Years 11 Months | Current |
Financials of Open Elite Developers Limited FY 2024 filings available
Open Elite Developers Limited reported revenue of ₹178.86 Cr (up 9% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Open Elite Developers Limited
Revenue rose 9% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 37%. EBITDA fell 70% 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 Open Elite Developers Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
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| EBITDA | ₹1,308.76 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹208.35 Cr | •••• | •••• | •••• | •••• |
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Financial Ratios of Open Elite Developers Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | •••• | •••• | •••• | •••• | •••• |
| Net Profit Margin | 116.5% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
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| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
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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 Open Elite Developers 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.
Ownership and Shareholding of Open Elite Developers 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.
Group Structure of Open Elite Developers Limited
Open Elite Developers has 3 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
Charges & Borrowings of Open Elite Developers Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 13 Oct 2022 | Others | ₹250 Cr | Open |
| 18 Jun 2018 | Others | ₹732.02 Cr | Open |
| 23 Feb 2018 | Others | ₹398.03 Cr | Open |
| 03 May 2017 | Others | ₹100 Cr | Open |
| 31 Mar 2017 | Others | ₹300 Cr | Open |
Total charge records: 69 View all charges
Employees and EPFO Compliance at Open Elite Developers Limited
Employment history and EPFO contributions of people linked to Open Elite Developers.
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.
GST Compliance of Open Elite Developers Limited
Open Elite Developers has 21 GST registrations: 18 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCR6898M1ZH | Maharashtra | Active | 01 Jul 2017 |
| 27AABCR6898M2ZG | Maharashtra | Active | 16 Aug 2017 |
| 03AABCR6898M1ZR | Punjab | Active | 01 Jul 2017 |
| 04AABCR6898M1ZP | Chandigarh | Active | 01 Jul 2017 |
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.
Legal Cases of Open Elite Developers Limited
Open Elite Developers Limited has 5,197 court cases on record: 4,955 filed by Open Elite Developers, 188 filed against it, 54 where it is another party. 534 cases are pending and 4,663 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4,916 | 95 | 492 |
| High courts | 229 | 56 | 29 |
| NCLAT | 39 | 24 | 11 |
| Supreme Court | 12 | 12 | 2 |
| NCLT | 1 | 1 | 0 |
Cases on record (5 of 5,197)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Sub-K Impact Solutions Limited | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Satin Finserv Limited and 1 other | Pending |
| Calcutta High Court | Court case (CS-COM) | Filed against the company by Indian City Properties Ltd | Pending |
| NCLAT, New Delhi | Interim or miscellaneous application | Filed by the company against Ninex Developers Limited and 2 others | Pending |
| NCLAT, New Delhi | Insolvency matter | Filed by the company against Ninex Developers Limited and 2 others | Pending |
Full case history
All 5,197 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.
Credit Ratings, Litigation & Regulatory Alerts for Open Elite Developers 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 Open Elite Developers 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 Open Elite Developers 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.
MCA Filings & Documents of Open Elite Developers 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.
Recent Activity on Open Elite Developers Limited
Recent News on Open Elite Developers Limited
Frequently Asked Questions about Open Elite Developers Limited
Open Elite Developers is an active public limited company based in Mumbai, Maharashtra, India. The company works in nbfc, within the financial services industry. It was incorporated on 17 August 2000 (26+ years old) and is registered under CIN U68200MH2000PLC128301.
Open Elite Developers reported revenue of ₹178.86 Cr for FY 2024 (up 9% YoY).
Open Elite Developers has 2 current directors:
- Bhaviika Bharatkumar Jain - Director
- Rahul Arun Bagaria - Director
Open Elite Developers reported a net profit of ₹208.35 Cr (net margin 116.5%) and EBITDA of ₹1,308.76 Cr for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Open Elite Developers is -31% over three years and -37% over five years. In the latest year (FY 2024) revenue rose 9%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Open Elite Developers is 27AABCR6898M1ZH, registered in Maharashtra. The company has 21 GST registrations in all, of which 18 are active and 3 are cancelled or inactive. Other active GSTINs include 27AABCR6898M2ZG (Maharashtra), 03AABCR6898M1ZR (Punjab), 04AABCR6898M1ZP (Chandigarh).
The CIN (Corporate Identification Number) of Open Elite Developers is U68200MH2000PLC128301. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Open Elite Developers has 5,197 court cases on record: 4,955 filed by the company and 188 filed against it. 534 are pending. Most are in the district courts.
Open Elite Developers was incorporated on 17 August 2000, making it 26+ years old. It is registered with the Registrar of Companies, Mumbai.