Piem Hotels Limited
About Piem Hotels Limited
Data last updated:
Piem Hotels Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of The Indian Hotels Company Limited. It operates in the hotel and accommodation services segment of the travel and hospitality sector. It was incorporated on 13 March 1968 and has been in existence for over 58 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U55101MH1968PLC013960. Its GSTIN is 27AAACP8376M1ZR (Maharashtra). The company holds 11 GST registrations, of which 8 are active.
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹3.81 Cr. It was formerly known as Piem Hotels Private Limited. It is led by directors including Sudhir Lalchand Nagpal (Managing Director) and Rajesh Rajkumar Nagpal (Managing Director).
Its last annual general meeting (AGM) was held on 15 July 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Taj President90 Cuffe Parade, Mumbai, Maharashtra, India – 400005.
As per the financials filed for FY 2023, the company reported a revenue of ₹504.16 Cr, a growth of 89% compared to the previous year. For the same year it recorded a net profit of ₹61.15 Cr (net margin 12.1%) and EBITDA of ₹122.89 Cr (EBITDA margin 24.4%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 7% over five years.
The company has about 668 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
As per MCA filings, the company has satisfied charges of ₹140 Cr on record. Court records list 104 cases involving the company, including 46 filed by the company and 58 filed against it; 12 cases are pending. The company has 1 deal on record (1 acquisition); the latest was in May 2011. The company has 2 MSME Form 1 returns on record between 2022 and 2024, listing 19 overdue payments to 13 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN history
Piem Hotels has one previous CIN (Corporate Identification Number): U55101MH1968PTC013960. The current CIN is U55101MH1968PLC013960, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U55101MH1968PLC013960 | Current |
| U55101MH1968PTC013960 | Previous |
Contact details
Piem Hotels Limited's registered office is in Mumbai, Maharashtra. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressTaj President90 Cuffe Parade, Mumbai, Maharashtra, India – 400005
- IndustryTravel and Hospitality, Hotel & Accommodation Services
To see the full contact details of Piem Hotels 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 Piem Hotels Limited
FY 2025 filings availablePiem Hotels Limited reported revenue of ₹504.16 Cr (up 89% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 7% over five years, including 89% growth 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 | ₹504.16 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹122.89 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹61.15 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
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 24.4% | ||||
| Net Profit Margin | 12.1% | ||||
| 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 Piem Hotels Limited, buy the company report.
Board of directors of Piem Hotels Limited
Piem Hotels has 13 current directors and 33 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ninotchka Malkani Nagpal | Director | 30 Jun 1998 | 28 Years 3 Months | Current |
| Sudhir Lalchand Nagpal | Managing Director | 07 Dec 1989 | 36 Years 10 Months | Current |
| Hiroo Mirchandani Also directs: Crompton Greaves Consumer Electricals Limited, Sheela Foam Limited | Director | 11 Nov 2021 | 4 Years 11 Months | Current |
| Rajendra Misra Also directs: Benares Hotels Limited | Director | 20 Jan 2025 | 1 Years 9 Months | Current |
| Ankur Dalwani | Director | 01 Jul 2024 | 2 Years 3 Months | Current |
| Moiz Mohsin Miyajiwala Also directs: Sbi Funds Management Limited, Anjuman-I-Islam | Director | 16 Nov 2023 | 2 Years 11 Months | Current |
Auditor
Piem Hotels Limited is audited by B S R & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Co. LLP | FY 2023 | 101248W/W-100022 |
Shareholding
The shareholding of Piem Hotels 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 Piem Hotels Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Oct 2021 | 100498393 | Others | ₹40 Cr | Satisfied | |
| 06 Nov 2003 | 80034107 | The Hongkong & Shanghai Banking Corporation | ₹100 Cr | Satisfied |
To see the full charge records of Piem Hotels Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Piem Hotels Limited has 1 deal on record (1 acquisition); the latest was in May 2011.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2011 | Acquisition | ₹51 Cr | Buyer: The Indian Hotels Company Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Piem Hotels Limited has 104 court cases on record: 46 filed by Piem Hotels, 58 filed against it. 12 cases are pending and 92 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 71 | 46 | 6 |
| District courts | 26 | 7 | 5 |
| Supreme Court | 7 | 5 | 1 |
Cases on record (5 of 104)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Filed against the company by The Indian Hotels Company Limited | Pending |
| Bombay High Court | Court case (CHOCL) | Filed by the company against City Info Services Pvt Ltd | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases SW) | Filed against the company by Novex Communications Pvt Ltd Th.Mr. Mohammed Waseem | Disposed |
| District court, Jalgaon, Maharashtra | Civil suit | Filed against the company by Ms Rajmudra Real Estate Pvt.Ltd. | Disposed |
| Bombay High Court | Court case (S) | Filed by the company against M/S. Shonkh Technologies International Ltd. | Disposed |
To see the full case history of Piem Hotels 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.
Credit ratings & regulatory alerts
Piem Hotels Limited was last rated by Crisil on 26 Mar 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 26 Mar 2020 |
To see the full credit ratings and regulatory alerts of Piem Hotels Limited, buy the company report.
MSME payment delays
Piem Hotels Limited has 2 MSME Form 1 returns on record between 2022 and 2024, listing 19 overdue payments to 13 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 13)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Bio Veda Farmacy Private Limited | |||
| Phalke and Company |
To see the full MSME payment records of Piem Hotels Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Piem Hotels has 1 subsidiary company and 6 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Northern India Hotels Limited | U55101UP1971PLC003838 |
To see the full group structure of Piem Hotels Limited, buy the company report.
Employees & EPFO
Piem Hotels Limited has a workforce of 668 employees on its EPFO records as of Apr 05, 2024, across 4 active EPFO establishments.
GST
Piem Hotels has 11 GST registrations: 8 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACP8376M1ZR | Maharashtra | Active | 01 Jul 2017 |
| 27AAACP8376M2ZQ | Maharashtra | Active | 26 Jul 2017 |
| 27AAACP8376M3ZP | Maharashtra | Active | 14 Mar 2019 |
| 27AAACP8376M4ZO | Maharashtra | Active | 19 Mar 2019 |
To see the full GST registrations and return filing status of Piem Hotels Limited, buy the company report.
Recent activity
Piem Hotels Limited has 47 board changes on record since 1968: 15 appointments and 32 cessations. The latest: Parveen Chander Kumar was appointed as Additional Director on 15 Jul 2025.
42 earlier events are in the company report.
Frequently asked questions
Piem Hotels is an active public limited company based in Mumbai, Maharashtra, India. The company works in hotel and accommodation services, within the travel and hospitality industry. It was incorporated on 13 March 1968 (58+ years old) and is registered under CIN U55101MH1968PLC013960.
Piem Hotels has 13 current directors:
- Sudhir Lalchand Nagpal - Managing Director
- Rajesh Rajkumar Nagpal - Managing Director
- Puneet Chhatwal - Managing Director
- Rajkumar Menghraj Nagpal - Whole-Time Director
- Ninotchka Malkani Nagpal - Director
- Hiroo Mirchandani - Director
- Rajendra Misra - Director
- Ankur Dalwani - Director
- Moiz Mohsin Miyajiwala - Director
- Somenath Mukherjee - Director
- Suma Venkatesh - Director
- Beryl Joseph Fernandes - Director
- Parveen Chander Kumar - Additional Director
The latest financial statements of Piem Hotels on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 15 July 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Piem Hotels is 27AAACP8376M1ZR, registered in Maharashtra. The company has 11 GST registrations in all, of which 8 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACP8376M2ZQ (Maharashtra), 27AAACP8376M3ZP (Maharashtra), 27AAACP8376M4ZO (Maharashtra).
The CIN (Corporate Identification Number) of Piem Hotels is U55101MH1968PLC013960. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Piem Hotels has 104 court cases on record: 46 filed by the company and 58 filed against it. 12 are pending. Most are in the high courts.
Piem Hotels was incorporated on 13 March 1968, making it 58+ years old. It is registered with the Registrar of Companies, Mumbai.
Piem Hotels has 1 deal on record (1 acquisition); the latest was in May 2011.
Parveen Chander Kumar was appointed as Additional Director on 15 Jul 2025. Ankur Dalwani ceased to be Additional Director on 14 Jul 2025. Rajendra Misra ceased to be Additional Director on 14 Jul 2025. Piem Hotels has 47 board changes on record in total.
Piem Hotels has 2 MSME Form 1 returns on record between 2022 and 2024, listing 19 overdue payments to 13 micro and small suppliers. The latest return was filed on 24 Apr 2024.
The registered office of Piem Hotels is at Taj President90 Cuffe Parade, Mumbai, Maharashtra, India – 400005.