MSME (Udyam registered) Ministry of MSME
- Category
- Small (2023-24)
- Udyam number
- UDYAM-TS-02-0048285
Progressive Hotels Pvt Ltd - travel and hospitality in Hyderabad, Telangana, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹29.05 Cr
▲ 48% YoY
Net profit · FY 2025
₹84.25 Lakh
Net margin 2.9%
EBITDA · FY 2025
₹4.35 Cr
EBITDA margin 15%
Authorised capital
₹4.75 Cr
Registered with MCA
Paid-up capital
₹2.67 Cr
Issued & subscribed
Open charges
₹41.01 Cr
Satisfied ₹13.88 Cr
Company age
52 yrs
Est. 1974
Employees · EPFO
116
Provident fund records
About Progressive Hotels Pvt Ltd
Data last updated:
Progressive Hotels Pvt Ltd is a private limited company based in Hyderabad, Telangana, India. It operates in the hotel and accommodation services segment of the travel and hospitality sector. It was incorporated on 11 June 1974 and has been in existence for over 52 years.
The company is registered with the Registrar of Companies (ROC), Hyderabad, under CIN U55101TG1974PTC001728. Its GSTIN is 36AABCP7409G1ZG (Telangana).
The company has an authorised share capital of ₹4.75 Cr and a paid-up capital of ₹2.67 Cr. It is led by directors Karteesh Reddy Madugula (Managing Director) and Swapna Kumari Madugula.
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 61 – 70 Lakdikapool Hyderabad, Telangana, India – 500004.
As per the financials filed for FY 2025, the company reported a revenue of ₹29.05 Cr, a growth of 48% compared to the previous year. For the same year it recorded a net profit of ₹84.25 Lakh (net margin 2.9%) and EBITDA of ₹4.35 Cr (EBITDA margin 15%). Revenue has grown at a compounded annual rate (CAGR) of 32% over three years and 15% over five years.
The company has about 116 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Best Western Ashoka. As per MCA filings, the company has open charges of ₹41.01 Cr and satisfied charges of ₹13.88 Cr on record. Court records list 17 cases involving the company, including 15 filed by the company and 2 filed against it; 4 cases are pending.
Progressive Hotels Pvt Ltd is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-TS-02-0048285). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bestwesternashoka.com.
Company details
CIN U55101TG1974PTC001728
Registration Number 001728
Incorporation Date 11 June 1974
ROC Hyderabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Small
Udyam Registration UDYAM-TS-02-0048285
CIN history
Progressive Hotels has one previous CIN (Corporate Identification Number): U55101AP1974PTC001728. The current CIN is U55101TG1974PTC001728, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U55101TG1974PTC001728 | Current |
| U55101AP1974PTC001728 | Previous |
Recognitions & Rankings of Progressive Hotels
Contact details
Progressive Hotels Pvt Ltd's registered office is in Hyderabad, Telangana. Its website is bestwesternashoka.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address61 – 70 Lakdikapool Hyderabad, Telangana, India – 500004
- IndustryTravel and Hospitality, Hotel & Accommodation Services
To see the full contact details of Progressive Hotels Pvt Ltd, buy the company report.
Comprehensive company report
Progressive Hotels Pvt Ltd - 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
Progressive Hotels operates one associated brand: Best Western Ashoka. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Hospitality services including accommodation, dining, and events in Hyderabad. | bestwesternashoka.com |
Business activity
The main business activity of Progressive Hotels is accommodation and food service. In detail, this covers accommodation services provided by hotel, inns, resorts, holiday homes, hostel, etc..
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| I | Accommodation and Food Service | I1 | Accommodation services provided by Hotel, Inns, Resorts, holiday homes, hostel, etc. |
To see the full business activity and turnover split of Progressive Hotels Pvt Ltd, buy the company report.
Financials of Progressive Hotels Pvt Ltd
FY 2024 filings availableProgressive Hotels Pvt Ltd reported revenue of ₹29.05 Cr (up 48% YoY) for FY 2025.
Revenue · FY 2025
₹29.05 Cr ▲ 48%
Net profit · FY 2025
₹84.25 Lakh margin 2.9%
EBITDA · FY 2025
₹4.35 Cr margin 15%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 48%
3 years · compounded
▲ 32%
5 years · compounded
▲ 15%
EBITDA CAGR growth
1 year
▲ 87%
3 years · compounded
▲ 17%
5 years · compounded
▲ 26%
Revenue has grown at a compounded annual rate (CAGR) of 15% over five years, including 48% growth in the latest year. EBITDA rose 87% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
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| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹4.35 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹84.25 Lakh | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
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| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 15% | ||||
| Net Profit Margin | 2.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
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| 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 Progressive Hotels Pvt Ltd, buy the company report.
Board of directors of Progressive Hotels Pvt Ltd
Progressive Hotels has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Swapna Kumari Madugula | Director | 29 Sep 2001 | 25 Years 1 Months | Current |
| Karteesh Reddy Madugula Also directs: Rajdhani Polypack Pvt. Ltd., Ganga Hotels Limited, GHR Infra Developers LLP and 3 more | Managing Director | 02 Jul 2009 | 17 Years 4 Months | Current |
Peer comparison
Progressive Hotels Pvt Ltd is compared with the 4 companies closest to it by revenue in the Consumer Services industry (Hotels), with the same principal business activity (accommodation services provided by hotel, inns, resorts, holiday homes, hostel, etc.), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Hemkund Classic Resorts Private Limited | ₹29.18 Cr (FY 2025) | 628.0% | Jaipur, Rajasthan, India | |||
| Progressive Hotels Pvt Ltdthis company | ₹29.05 Cr (FY 2025) | ₹84.25 Lakh | 2.9% | 48.0% | 116 | Hyderabad, Telangana, India |
| Moon Buildestates Private Limited | ₹28.94 Cr (FY 2025) | 19.0% | Kishangarh, Rajasthan, India | |||
| Maris Hotels and Theatres Private Limited | ₹28.9 Cr (FY 2025) | 2.0% | Cathedral Road, Madras-85., Tamil Nadu, India | |||
| Gangetic Hotels Private Limited | ₹28.82 Cr (FY 2016) | Lucknow, Uttar Pradesh, India |
To see the full peer comparison of Progressive Hotels Pvt Ltd, buy the company report.
Auditor
Progressive Hotels Pvt Ltd is audited by P.JITENDER REDDY & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| P.JITENDER REDDY & CO | FY 2023 | 010203S |
Shareholding
The shareholding of Progressive Hotels Pvt Ltd 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 Progressive Hotels Pvt Ltd, buy the company report.
Charges & borrowings
Open charges
₹41.01 Cr
Satisfied charges
₹13.88 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 31 Aug 2024 | 100997094 | Others | ₹35 Cr | Open | |
| 31 Aug 2024 | 100997389 | Others | ₹5 Cr | Open | |
| 24 Feb 2021 | 100474613 | Hdfc Bank Limited | ₹94.9 Lakh | Open | |
| 26 Jun 1996 | 90127644 | Bank of India | ₹5.7 Lakh | Open | |
| 18 Feb 2015 | 10559129 | State Bank of India | ₹4.79 Cr | Satisfied |
To see the full charge records of Progressive Hotels Pvt Ltd, buy the company report.
Total charge records: 10 View all charges
Legal cases
Progressive Hotels Pvt Ltd has 17 court cases on record: 15 filed by Progressive Hotels, 2 filed against it. 4 cases are pending and 13 are disposed.
Total cases
17
Filed by the company
15
Filed against the company
2
Pending
4
Disposed
13
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 15 | 0 | 4 |
| District courts | 2 | 2 | 0 |
Cases on record (5 of 17)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, TELANGANA | Writ petition | Filed by the company against Southern Power Distribution Company of Telangana Ltd. and 2 others | Pending |
| High Court, TELANGANA | Writ petition | Filed by the company against Southern Power Distribution Company of Telangana Ltd and 2 others | Disposed |
| High Court, TELANGANA | Writ petition | Filed by the company against Authority Under Minimum Wages Act and Joint Commissioner and 16 others | Pending |
| District court, Hyderabad CCC, Telangana | Court case (AS) | Filed against the company | Disposed |
| District court, Central, Delhi | Execution petition | Filed against the company by State of Andhra Pradesh | Disposed |
To see the full case history of Progressive Hotels Pvt Ltd, 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 Progressive Hotels Pvt Ltd; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Progressive Hotels Pvt Ltd has a workforce of 116 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
Employee count
116
Active EPFO establishments
1
Employee growth
110.91%
GST
Progressive Hotels has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AABCP7409G1ZG | Telangana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Progressive Hotels Pvt Ltd, buy the company report.
Recent activity
Progressive Hotels Pvt Ltd has 6 board changes on record since 2001: 2 appointments and 4 cessations. The latest: Kaushik Reddy Madugula ceased to be Director on 25 Mar 2024.
AGM
Progressive Hotels Pvt Ltd last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 35.00 Cr with Charge ID 100997094 was registered on 31 Aug 2024.
Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 100997389 was registered on 31 Aug 2024.
Charges
A charge registered on 15 Jul 2013 via Charge ID 10436381 with Hdfc Bank Limited was fully satisfied on 21 Aug 2024.
Charges
A charge registered on 18 Feb 2015 via Charge ID 10559129 with State Bank Of India was fully satisfied on 03 Aug 2024.
Charges
A charge registered on 21 Jul 2014 via Charge ID 10512608 with Axis Bank Limited was fully satisfied on 25 Apr 2024.
Filing
Progressive Hotels Pvt Ltd has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Hyderabad.
Ceased
Kaushik Reddy Madugula ceased to be Director.
Ceased
Karteesh Reddy Madugula ceased to be Director.
Charges
A charge with State Bank Of India of Rs. 4.79 Cr registered on 18 Feb 2015 with Charge ID 10559129 was modified on 30 Jun 2021.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.95 Cr with Charge ID 100474613 was registered on 24 Feb 2021.
Charges
A charge registered on 05 Feb 2013 via Charge ID 10406334 with Andhra Pradesh State Financial Corporation was fully satisfied on 16 May 2016.
14 earlier events are in the company report.
Frequently asked questions
Progressive Hotels is an active private limited company based in Hyderabad, Telangana, India. The company works in hotel and accommodation services, within the travel and hospitality industry. It was incorporated on 11 June 1974 (52+ years old) and is registered under CIN U55101TG1974PTC001728.
Progressive Hotels has 2 current directors:
- Karteesh Reddy Madugula - Managing Director
- Swapna Kumari Madugula - Director
The latest financial statements of Progressive Hotels on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Progressive Hotels is 36AABCP7409G1ZG, registered in Telangana.
The CIN (Corporate Identification Number) of Progressive Hotels is U55101TG1974PTC001728. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progressive Hotels has 17 court cases on record: 15 filed by the company and 2 filed against it. 4 are pending. Most are in the high courts.
Progressive Hotels was incorporated on 11 June 1974, making it 52+ years old. It is registered with the Registrar of Companies, Hyderabad.
The peers of Progressive Hotels by revenue are Hemkund Classic Resorts Private Limited, Moon Buildestates Private Limited, Maris Hotels and Theatres Private Limited, Gangetic Hotels Private Limited, all in the Consumer Services industry (Hotels), with the same principal business activity (accommodation services provided by hotel, inns, resorts, holiday homes, hostel, etc.).
Kaushik Reddy Madugula ceased to be Director on 25 Mar 2024. Karteesh Reddy Madugula ceased to be Director on 24 Mar 2024. Karteesh Reddy Madugula was appointed as Managing Director on 02 Jul 2009. Progressive Hotels has 6 board changes on record in total.
Yes, Progressive Hotels is registered as a small enterprise under Udyam registration (number: UDYAM-TS-02-0048285).
Progressive Hotels can be reached through the website bestwesternashoka.com. Its registered office is in Hyderabad, Telangana, India.
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