Piramal Fund Management Limited

Piramal Fund Management Limited - financial services in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN U67190MH2005PLC154781 Incorporated 14 July 2005 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Public Limited Company financial services
Revenue · FY 2025
₹10.68 Cr
▲ 186% YoY
Net loss · FY 2025
₹14.44 Cr
Net margin -135.2%
EBITDA · FY 2025
-₹1.85 Cr
EBITDA margin -17.3%
Authorised capital
₹2.15 Cr
Registered with MCA
Paid-up capital
₹1.15 Cr
Issued & subscribed
Open charges
₹7.5 Cr
Satisfied ₹1,600 Cr
Company age
21 yrs
Est. 2005
Employees · EPFO
6
Provident fund records

About Piramal Fund Management Limited

Data last updated:

Piramal Fund Management Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Piramal Enterprises Limited. It operates in the portfolio management services segment of the financial services sector. It was incorporated on 14 July 2005 and has been in existence for over 21 years.

Its director Ajay Piramal is #127 among India's richest people (2026).

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U67190MH2005PLC154781. Its GSTIN is 27AABCI3931J1ZK (Maharashtra). The company holds 4 GST registrations, of which 3 are active.

The company has an authorised share capital of ₹2.15 Cr and a paid-up capital of ₹1.15 Cr. It was formerly known as Indiareit Fund Advisors Private Limited. It is led by directors including Shitin Dayalji Desai and Ajay Gopikisan Piramal.

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 4th Floor Piramal Tower Peninsula Corporate Park, G.K. Marg Lower Parel Mumbai, Maharashtra, India – 400013.

As per the financials filed for FY 2025, the company reported a revenue of ₹10.68 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹14.44 Cr (net margin -135.2%) and EBITDA of -₹1.85 Cr (EBITDA margin -17.3%). Revenue has declined at a compounded annual rate (CAGR) of 35% over three years and 29% over five years.

The company has about 6 employees on its provident fund (EPFO) records.

The company is associated with 2 brands: Indiareit Fund Advisors and Piramal Fund Management. As per MCA filings, the company has open charges of ₹7.5 Cr and satisfied charges of ₹1,600 Cr on record. Court records list 24 cases involving the company, including 11 filed by the company and 13 filed against it; 6 cases are pending. The company has 1 deal on record (1 acquisition); the latest was in August 2011. Its 3 peer companies in the BFSI industry (Portfolio Managers), with the same principal business activity (financial advisory, brokerage and consultancy services) are compared by revenue, 1 larger and 2 smaller; the largest is Vcare Investment Services Private Limited with revenue of ₹12.41 Cr. The company has 10 MSME Form 1 returns on record between 2021 and 2024, listing 23 overdue payments to 3 micro and small suppliers.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website piramalfundmanagement.com.

Company details

CIN U67190MH2005PLC154781
Registration Number 154781
Incorporation Date 14 July 2005
ROC Mumbai
Listing Status Unlisted
Company Status Active
Parent Company Piramal Enterprises Limited
Compliance Status Active Compliant

Name history

Piramal Fund Management has undergone 2 name changes throughout its history. The company was previously known as Indiareit Fund Advisors Private Limited, and Piramal Fund Management Limited. The current legal name is Piramal Fund Management Limited.

Company NameStatus
Piramal Fund Management LimitedCurrent
Indiareit Fund Advisors Private LimitedPrevious

CIN history

Piramal Fund Management has one previous CIN (Corporate Identification Number): U67190MH2005PTC154781. The current CIN is U67190MH2005PLC154781, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
U67190MH2005PLC154781Current
U67190MH2005PTC154781Previous
Key People
Shitin Dayalji Desai Director Ajay Gopikisan Piramal Director Niraj Pankaj Bhukhanwala Director

Recognitions & Rankings of Piramal Fund Management

India's Richest People 2026 edition · 1 director · Source: Hurun India

Contact details

Piramal Fund Management Limited's registered office is in Mumbai, Maharashtra.

  • Social Media
  • Registered Address
    4th Floor Piramal Tower Peninsula Corporate Park, G.K. Marg Lower Parel Mumbai, Maharashtra, India – 400013
  • Industry
    Financial Services, Portfolio Management Services
Comprehensive company report
Piramal Fund Management Limited - one report that includes everything
  • 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
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Brands

Piramal Fund Management operates two associated brands: Indiareit Fund Advisors and Piramal Fund Management. Each brand links to its own profile.

BrandDescriptionWebsite
Piramal Fund Management
Fund management and investment services focused on real estate and domestic strategies in India.piramalfundmanagement.com
Indiareit Fund Advisors
Functions as an equity REIT specializing in investments in residential properties.indiareit.com

Business activity

The main business activity of Piramal Fund Management is financial and insurance service. In detail, this covers financial advisory, brokerage and consultancy services.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
KFinancial and insurance ServiceK7Financial Advisory, brokerage and Consultancy Services

To see the full business activity and turnover split of Piramal Fund Management Limited, buy the company report.

Financials of Piramal Fund Management Limited

FY 2025 filings available

Piramal Fund Management Limited reported revenue of ₹10.68 Cr (up 186% YoY) for FY 2025.

Revenue · FY 2025
₹10.68 Cr ▲ 186%
Net loss · FY 2025
₹14.44 Cr margin -135.2%
EBITDA · FY 2025
-₹1.85 Cr margin -17.3%

Compounded Annual Growth Rate (CAGR)

Revenue CAGR growth
1 year
▲ 186%
3 years · compounded
▼ 35%
5 years · compounded
▼ 29%
EBITDA CAGR growth
1 year
▲ 98%
3 years · compounded
▼ 28%
5 years · compounded
▲ 41%

Revenue rose 186% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 29%. EBITDA rose 98% 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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-₹1.85 Cr
Profit Before Tax
Tax Expense
Net Profit (PAT)-₹14.44 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

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Profitability
EBITDA Margin-17.3%
Net Profit Margin-135.2%
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 Piramal Fund Management Limited, buy the company report.

Board of directors of Piramal Fund Management Limited

Piramal Fund Management has 3 current directors and 7 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Shitin Dayalji Desai
Also directs: DSP Trustee Private Limited, Foundation for Promotion of Sports and Games
Director18 Dec 201510 Years 10 MonthsCurrent
Ajay Gopikisan Piramal
Also directs: PRL Realtors LLP, PRL Properties LLP, Piramal Glass Private Limited and 5 more
Director08 Aug 200521 Years 3 MonthsCurrent
Niraj Pankaj Bhukhanwala
Also directs: Hifin Trading Co LLP, Precision Wires India Limited, Precision Wires India Limited and 5 more
Director08 Aug 200521 Years 3 MonthsCurrent
View all directors

Peer comparison

Piramal Fund Management Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Portfolio Managers), with the same principal business activity (financial advisory, brokerage and consultancy services), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Vcare Investment Services Private Limited₹12.41 Cr (FY 2025)5.0%Mumbai, Maharashtra, India
Piramal Fund Management Limitedthis company₹10.68 Cr (FY 2025)-₹14.44 Cr-135.2%186.0%Mumbai, Maharashtra, India
Data Link Investment Manager Private Limited₹10.14 Cr (FY 2025)994.0%Mumbai, Maharashtra, India
Equitree Capital Advisors Private Limited₹10.11 Cr (FY 2024)493.0%Surat, Gujarat, India

To see the full peer comparison of Piramal Fund Management Limited, buy the company report.

Charges & borrowings

Open charges
₹7.5 Cr
Satisfied charges
₹1,600 Cr
Breakdown by lending institutions
Hdfc Bank Limited₹7.50 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
05 Aug 201110304237Hdfc Bank Limited₹7.5 CrOpen
15 Sep 2019100287161Others₹1,600 CrSatisfied

To see the full charge records of Piramal Fund Management Limited, buy the company report.

Total charge records: 2 View all charges

Deals & funding

Piramal Fund Management Limited has 1 deal on record (1 acquisition); the latest was in August 2011.

Total deals
1
Acquisition
1

Deals on record (1 of 1)

WhenDealAmountParties
Aug 2011Acquisition₹105.45 CrBuyer: Piramal Enterprises Ltd

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

Piramal Fund Management Limited has 10 MSME Form 1 returns on record between 2021 and 2024, listing 23 overdue payments to 3 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 (3 of 3)

SupplierAmount dueDue sinceReported on
an individual supplier
GP Offset Private Limited
an individual supplier

To see the full MSME payment records of Piramal Fund Management Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

GST

Piramal Fund Management has 4 GST registrations: 3 active and 1 cancelled or inactive.

Total GSTINs
4
Active
3
Cancelled / inactive
1
GSTINStateStatusRegistered on
27AABCI3931J1ZKMaharashtraActive01 Jul 2017
06AABCI3931J1ZOHaryanaActive01 Jul 2017
29AABCI3931J1ZGKarnatakaActive01 Jul 2017

To see the full GST registrations and return filing status of Piramal Fund Management Limited, buy the company report.

Recent activity

Piramal Fund Management Limited has 10 board changes on record since 2005: 3 appointments and 7 cessations. The latest: Sachin Prabhakar Deodhar ceased to be Director on 03 May 2022.

AGM
Piramal Fund Management Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Piramal Fund Management Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Ceased
Sachin Prabhakar Deodhar ceased to be Director.
Charges
A charge registered on 15 Sep 2019 via Charge ID 100287161 with Others was fully satisfied on 25 Aug 2020.
Charges
A charge with Others amounted to Rs. 1,600.00 Cr with Charge ID 100287161 was registered on 15 Sep 2019.
Ceased
Khushru Burjor Jijina ceased to be Managing Director.
Ceased
Shitin Dayalji Desai ceased to be Additional Director.
Appointed
Shitin Dayalji Desai was appointed as Director.
Ceased
Vallabh Roopchand Bhanshali ceased to be Director.
Charges
A charge with Hdfc Bank Limited of Rs. 7.50 Cr registered on 05 Aug 2011 with Charge ID 10304237 was modified on 30 Oct 2012.
Ceased
Ramesh Tikuchand Jogani ceased to be Managing Director.
Ceased
Satya Paul Ahuja ceased to be Director.

5 earlier events are in the company report.

News

Frequently asked questions

Piramal Fund Management is an active public limited company based in Mumbai, Maharashtra, India. The company works in portfolio management services, within the financial services industry. It was incorporated on 14 July 2005 (21+ years old) and is registered under CIN U67190MH2005PLC154781.

Piramal Fund Management has 3 current directors:

The latest financial statements of Piramal Fund Management on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Piramal Fund Management is 27AABCI3931J1ZK, registered in Maharashtra. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 06AABCI3931J1ZO (Haryana), 29AABCI3931J1ZG (Karnataka).

The CIN (Corporate Identification Number) of Piramal Fund Management is U67190MH2005PLC154781. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Piramal Fund Management has 24 court cases on record: 11 filed by the company and 13 filed against it. 6 are pending. Most are in the high courts.

Piramal Fund Management was incorporated on 14 July 2005, making it 21+ years old. It is registered with the Registrar of Companies, Mumbai.

Piramal Fund Management has 1 deal on record (1 acquisition); the latest was in August 2011.

The peers of Piramal Fund Management by revenue are Vcare Investment Services Private Limited, Data Link Investment Manager Private Limited, Equitree Capital Advisors Private Limited, all in the BFSI industry (Portfolio Managers), with the same principal business activity (financial advisory, brokerage and consultancy services).

Sachin Prabhakar Deodhar ceased to be Director on 03 May 2022. Khushru Burjor Jijina ceased to be Managing Director on 28 Feb 2017. Shitin Dayalji Desai ceased to be Additional Director on 27 Sep 2016. Piramal Fund Management has 10 board changes on record in total.

Piramal Fund Management has 10 MSME Form 1 returns on record between 2021 and 2024, listing 23 overdue payments to 3 micro and small suppliers. The latest return was filed on 30 Apr 2024.

Piramal Fund Management can be reached through the website piramalfundmanagement.com. Its registered office is in Mumbai, Maharashtra, India.