Salsette Developers Private Limited
About Salsette Developers Private Limited
Data last updated:
Salsette Developers Private Limited is a private limited company based in Mumbai, Maharashtra, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 24 January 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45100MH2012PTC226393. Its GSTIN is 27AABCW2364H1ZA (Maharashtra).
The company has an authorised share capital of ₹462 Cr and a paid-up capital of ₹345.45 Cr. It was formerly known as Shazam Foods Private Limited and Windsor Advisors Private Limited. It is led by directors including Karim Kasimali Merchant and Koshtishwaran Iyer.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹278.39 Cr, a growth of 7% compared to the previous year. For the same year it recorded a net loss of ₹13.01 Cr (net margin -4.7%) and EBITDA of ₹179.03 Cr (EBITDA margin 64.3%). Revenue has grown at a compounded annual rate (CAGR) of 117% over three years.
As per MCA filings, the company has open charges of ₹1,224.08 Cr and satisfied charges of ₹1,535.2 Cr on record. Court records list 5 cases involving the company, including 5 filed against it. The company has 10 deals on record (3 convertible or debt financings, 3 acquisitions, 2 debt financings), with disclosed funding of ₹522.29 Cr; the latest was in May 2023. Its 10 peer companies in the Business Services industry (Mall Management) are compared by revenue, 5 larger and 5 smaller; the largest is Vamona Developers Private Limited. The company has 9 MSME Form 1 returns on record between 2022 and 2024, listing 90 overdue payments to 37 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies.
- EmailLocked
- TelephoneLocked
- WebsiteLocked
- Social MediaLocked
- Registered AddressUnit No. 1611 – 12 16th Floor C Wing G Block One BKC Bandra Kurla Complex Bandra (E, Ast), Mumbai, Maharashtra, India – 400051
- IndustryReal Estate and Construction, Real Estate Builders & Developers
- 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
Business Activity of Salsette Developers Private Limited
The main business activity of Salsette Developers is real estate. In detail, this covers real estate activities with own or leased property.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Salsette Developers Private Limited FY 2025 filings available
Salsette Developers Private Limited reported revenue of ₹278.39 Cr (up 7% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Salsette Developers Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 117% over three years, including 7% growth in the latest year. EBITDA rose 1% 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 Salsette Developers Private Limited
| 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 | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | ₹179.03 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹13.01 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 of Salsette Developers Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 64.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -4.7% | •••• | •••• | •••• | •••• |
| 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 | •••• | •••• | •••• | •••• | •••• |
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 Salsette 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.
Peer Comparison of Salsette Developers Private Limited
Salsette Developers Private Limited is compared with the companies closest to it by revenue in the Business Services industry (Mall Management). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Vamona Developers Private Limited | •••• | •••• | •••• | •••• | 72 | Mumbai, Maharashtra, India |
| Trion Properties Private Limited | •••• | •••• | •••• | •••• | 33 | Mumbai, Maharashtra, India |
| Express Infrastructure Private Limited | •••• | •••• | •••• | •••• | 363 | Chennai, Tamil Nadu, India |
| Classic Mall Development Company Limited | •••• | •••• | •••• | •••• | - | Mahalaxmi, Maharashtra, India |
| R Mall Developers Private Limited | •••• | •••• | •••• | •••• | 71 | Mumbai, Maharashtra, India |
| Salsette Developers Private Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Sparkle One Mall Developers Private Limited | •••• | •••• | •••• | •••• | - | Estate, Mahalaxmi, Mumbai, Maharashtra, India |
| Abhishek Propbuild Private Limited | •••• | •••• | •••• | •••• | - | Bangalore, Karnataka, India |
| Century 21 Town Planners Private Limited | •••• | •••• | •••• | •••• | 152 | Indore, Madhya Pradesh, India |
| Nexus Hyderabad Retail Private Limited | •••• | •••• | •••• | •••• | 57 | Hyderabad, Telangana, India |
| Ambience Commercial Developers Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
Peers are the five companies nearest above and the five nearest below Salsette Developers by revenue in the Business Services industry (Mall Management), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Salsette Developers Private Limited
Salsette Developers Private Limited is audited by B S R & Co. LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| B S R & Co. 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 Salsette Developers Private Limited
Salsette Developers has 3 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Karim Kasimali Merchant Also directs: Edgewood Advisory Ifsc LLP, Visapur Developers Private Limited, Kukatpally Developers Private Limited and 5 more | Nominee Director | 16 Aug 2021 | 5 Years 1 Months | Current |
| Koshtishwaran Iyer Also directs: Visapur Developers Private Limited, Kukatpally Developers Private Limited, Kenchenhalli Realtors Private Limited and 4 more | Nominee Director | 16 Aug 2021 | 5 Years 1 Months | Current |
| Ashwin Puri Also directs: Edgewood Advisory Ifsc LLP, Visapur Developers Private Limited, Kukatpally Developers Private Limited and 5 more | Nominee Director | 16 Aug 2021 | 5 Years 1 Months | Current |
Ownership and Shareholding of Salsette Developers Private 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.
Charges & Borrowings of Salsette Developers Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 29 Apr 2025 | Idbi Trusteeship Services Limited | ₹1,200 Cr | Open |
| 30 Sep 2024 | The Hongkong and Shanghai Banking Corporation Limited | ₹24.08 Cr | Open |
| 29 May 2024 | Idbi Trusteeship Services Limited | ₹150 Cr | Satisfied |
| 23 Feb 2024 | Idbi Trusteeship Services Limited | ₹335 Cr | Satisfied |
| 12 Jan 2023 | Idbi Trusteeship Services Limited | ₹550 Cr | Satisfied |
Total charge records: 8 View all charges
Deals & Funding of Salsette Developers Private Limited
Salsette Developers Private Limited has 10 deals on record (3 convertible or debt financings, 3 acquisitions, 2 debt financings), with disclosed funding of ₹522.29 Cr; the latest was in May 2023.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2023 | Debt financing | ₹50 Cr | Investors: AP Credit Solutions I Pte Limited |
| Feb 2022 | Acquisition | ₹915 Cr | Buyer: Lake Shore India Advisory |
| Feb 2022 | Debt financing | ₹450 Cr | Investors: Morgan Stanley Investment Management |
| Sep 2021 | Acquisition | ₹1.1 Cr | Buyer: Lake Shore India Advisory |
| Aug 2021 | Acquisition | ₹37 Lakh | Buyer: Lake Shore India Advisory Seller: an individual |
Full deal history
All 10 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Salsette Developers Private Limited
Salsette Developers Private Limited has 5 court cases on record: 5 filed against it. All cases are disposed. Status as checked between 21 Sep 2026 and 30 Sep 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 3 | 3 | 0 |
| High courts | 2 | 2 | 0 |
Cases on record (4 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (CARBA) | Filed against the company by Jubilant Restaurants and Hotels Private Limited | Disposed |
| District court, Thane, Maharashtra | Criminal miscellaneous application | Filed against the company by an individual | Disposed |
| District court, Thane, Maharashtra | Civil suit | Filed against the company by an individual | Disposed |
| District court, Thane, Maharashtra | Criminal miscellaneous application | Filed against the company by an individual | Disposed |
Full case history
All 5 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.
MSME Payment Delays by Salsette Developers Private Limited
Salsette Developers Private Limited has 9 MSME Form 1 returns on record between 2022 and 2024, listing 90 overdue payments to 37 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 37)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| Olive Advanced Security Integrated Solutions Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| S B U and Co | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 9 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance at Salsette Developers Private Limited
Employment history and EPFO contributions of people linked to Salsette 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.
Name History of Salsette Developers Private Limited
Salsette Developers has undergone 2 name changes throughout its history. The company was previously known as Shazam Foods Private Limited, and Windsor Advisors Private Limited. The current legal name is Salsette Developers Private Limited.
| Company Name | Status |
|---|---|
| Salsette Developers Private Limited | Current |
| Shazam Foods Private Limited | Previous |
| Windsor Advisors Private Limited | Previous |
CIN History of Salsette Developers Private Limited
Salsette Developers has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U45100MH2012PTC226393, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U45100MH2012PTC226393 | Current |
| U15100MH2012PTC226393 | Previous |
| U74140MH2012PTC226393 | Previous |
Recent Activity on Salsette Developers Private Limited
Salsette Developers Private Limited has 9 board changes on record since 2012: 3 appointments and 6 cessations. The latest: Ashwin Puri ceased to be Additional Director on 31 May 2022.
15 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Salsette Developers Private 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.
Subsidiaries & Group Companies of Salsette Developers Private 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.
GST Compliance of Salsette Developers Private Limited
Salsette Developers has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCW2364H1ZA | Maharashtra | Active | 16 Aug 2021 |
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.
MCA Filings & Documents of Salsette Developers Private 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.
Frequently Asked Questions about Salsette Developers Private Limited
Salsette Developers is an active private limited company based in Mumbai, Maharashtra, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 24 January 2012 (14+ years old) and is registered under CIN U45100MH2012PTC226393.
Salsette Developers reported revenue of ₹278.39 Cr for FY 2025 (up 7% YoY).
Salsette Developers has 3 current directors:
- Karim Kasimali Merchant - Nominee Director
- Koshtishwaran Iyer - Nominee Director
- Ashwin Puri - Nominee Director
Salsette Developers reported a net loss of ₹13.01 Cr (net margin -4.7%) and EBITDA of ₹179.03 Cr (EBITDA margin 64.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Salsette Developers is 117% over three years. In the latest year (FY 2025) revenue rose 7%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Salsette Developers is 27AABCW2364H1ZA, registered in Maharashtra.
The CIN (Corporate Identification Number) of Salsette Developers is U45100MH2012PTC226393. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Salsette Developers has 5 court cases on record: 5 filed against it. Most are in the district courts.
Salsette Developers was incorporated on 24 January 2012, making it 14+ years old. It is registered with the Registrar of Companies, Mumbai.
Salsette Developers has 10 deals on record (3 convertible or debt financings, 3 acquisitions, 2 debt financings), with disclosed funding of ₹522.29 Cr; the latest was in May 2023.
The peers of Salsette Developers by revenue are Vamona Developers Private Limited, Trion Properties Private Limited, Express Infrastructure Private Limited, Classic Mall Development Company Limited, R Mall Developers Private Limited and 5 more, all in the Business Services industry (Mall Management).
Ashwin Puri ceased to be Additional Director on 31 May 2022. Koshtishwaran Iyer ceased to be Additional Director on 31 May 2022. Ashwin Puri was appointed as Nominee Director on 16 Aug 2021. Salsette Developers has 9 board changes on record in total.