MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-19-0094871
Satellite Developers Private Limited - real estate and construction in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹150.19 Cr
▼ 37% YoY
Net profit · FY 2024
₹5.87 Cr
Net margin 3.9%
EBITDA · FY 2024
₹29.4 Cr
EBITDA margin 19.6%
Authorised capital
₹62 Cr
Registered with MCA
Paid-up capital
₹53.4 Cr
Issued & subscribed
Open charges
₹2,115.45 Cr
Satisfied ₹2,731.13 Cr
Company age
73 yrs
Est. 1953
Employees · EPFO
54
Provident fund records
About Satellite Developers Private Limited
Data last updated:
Satellite 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 17 February 1953 and has been in existence for over 73 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24291MH1953PTC139290. Its GSTIN is 27AADCS0420Q1Z8 (Maharashtra).
The company has an authorised share capital of ₹62 Cr and a paid-up capital of ₹53.4 Cr. It was formerly known as The Selective Chemicals Private Limited. It is led by directors Kalpana Pankaj Shah and Sarjan Pankaj Shah.
Its last annual general meeting (AGM) was held on 01 October 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 14 Solitaire Corporate Park, Mumbai, Maharashtra.
As per the financials filed for FY 2024, the company reported a revenue of ₹150.19 Cr, a decline of 37% compared to the previous year. For the same year it recorded a net profit of ₹5.87 Cr (net margin 3.9%) and EBITDA of ₹29.4 Cr (EBITDA margin 19.6%). Revenue has grown at a compounded annual rate (CAGR) of 13% over three years and 14% over five years.
The company has about 54 employees on its provident fund (EPFO) records. Its group structure includes 7 subsidiaries.
The company is associated with 1 brand: Group Satellite. As per MCA filings, the company has open charges of ₹2,115.45 Cr and satisfied charges of ₹2,731.13 Cr on record. Court records list 121 cases involving the company, including 54 filed by the company and 67 filed against it; 30 cases are pending.
Satellite Developers Private Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0094871). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website groupsatellite.com.
Company details
CIN U24291MH1953PTC139290
Registration Number 139290
Incorporation Date 17 February 1953
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 01 October 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0094871
Name history
Satellite Developers has undergone 3 name changes throughout its history. The company was previously known as Satellite Developers Private Limited, The Selective Chemicals Private Limited, and Satellite Developers Limited. The current legal name is Satellite Developers Private Limited.
| Company Name | Status |
|---|---|
| Satellite Developers Private Limited | Current |
| The Selective Chemicals Private Limited | Previous |
| Satellite Developers Limited | Previous |
CIN history
Satellite Developers has one previous CIN (Corporate Identification Number): U24291MH1953PLC139290. The current CIN is U24291MH1953PTC139290, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24291MH1953PTC139290 | Current |
| U24291MH1953PLC139290 | Previous |
Recognitions & Rankings of Satellite Developers
Contact details
Satellite Developers Private Limited's registered office is in Mumbai, Maharashtra. Its website is groupsatellite.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address7th Floor S – 14 Solitaire Corporate Park Andheri – Ghatkopar Link Road Andheri(Eas, T), Mumbai, Maharashtra, India – 400093
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Satellite Developers Private Limited, buy the company report.
Comprehensive company report
Satellite Developers Private 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
Satellite Developers operates one associated brand: Group Satellite. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Real estate firm developing residential and commercial projects in Mumbai, India. | group-satellite.com |
Business activity
The main business activity of Satellite Developers is construction. In detail, this covers buildings.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | F1 | Buildings |
To see the full business activity and turnover split of Satellite Developers Private Limited, buy the company report.
Financials of Satellite Developers Private Limited
FY 2024 filings availableSatellite Developers Private Limited reported revenue of ₹150.19 Cr (down 37% YoY) for FY 2024.
Revenue · FY 2024
₹150.19 Cr ▼ 37%
Net profit · FY 2024
₹5.87 Cr margin 3.9%
EBITDA · FY 2024
₹29.4 Cr margin 19.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 37%
3 years · compounded
▲ 13%
5 years · compounded
▲ 14%
EBITDA CAGR growth
1 year
▲ 14%
Revenue fell 37% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 14%. EBITDA rose 14% 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 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Total Expenses | |||||
| EBITDA | ₹29.4 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹5.87 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 19.6% | ||||
| Net Profit Margin | 3.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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To see the full financial statements and ratios of Satellite Developers Private Limited, buy the company report.
Board of directors and KMP of Satellite Developers Private Limited
Satellite Developers Private Limited currently reports 2 directors and 1 key managerial person. 15 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sunil Nihalchand Munot | Ceo | 15 Jul 2025 | 1 Years 3 Months | Current |
| Kalpana Pankaj Shah Also directs: Satellite Developers and Builders LLP, Satellite Ghanwat LLP, Purva Realties Private Limited and 5 more | Director | 01 Dec 2018 | 7 Years 10 Months | Current |
| Sarjan Pankaj Shah Also directs: Satellite Cove Private Limited, Newone Constructions Private Limited, Satellite Builders Private Limited and 5 more | Director | 02 Dec 2008 | 17 Years 10 Months | Current |
Auditor
Satellite Developers Private Limited is audited by V. C. Shah & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| V. C. Shah & Co. | FY 2023 | 109818W |
Shareholding
The shareholding of Satellite Developers Private 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 Satellite Developers Private Limited, buy the company report.
Charges & borrowings
Open charges
₹2,115.45 Cr
Satisfied charges
₹2,731.13 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Mar 2025 | 101068399 | Others | ₹28.4 Cr | Open | |
| 28 Jan 2025 | 101037188 | Others | ₹13.88 Cr | Open | |
| 04 Mar 2024 | 100878183 | Others | ₹510 Cr | Open | |
| 28 Dec 2023 | 100845090 | State Bank of India | ₹92.95 Cr | Open | |
| 20 Sep 2023 | 100794283 | State Bank of India | ₹30 Cr | Open |
To see the full charge records of Satellite Developers Private Limited, buy the company report.
Total charge records: 64 View all charges
Legal cases
Satellite Developers Private Limited has 121 court cases on record: 54 filed by Satellite Developers, 67 filed against it. 30 cases are pending and 91 are disposed.
Total cases
121
Filed by the company
54
Filed against the company
67
Pending
30
Disposed
91
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 60 | 36 | 17 |
| High courts | 53 | 27 | 13 |
| Supreme Court | 4 | 1 | 0 |
| NCLT | 4 | 3 | 0 |
Cases on record (5 of 121)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Baf-Hira Builders Private Limited and 1 other | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by Integrated Spaces Ltd. | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial suit | Filed by the company against Integrated Spaces Limited and Anr. and 1 other | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed by the company against Omkar Realtors Andheri Project Private Limited and 4 others | Pending |
| High Court, MAHARASHTRA | Court case (S) | Filed against the company by Integrated Spaces Limited | Disposed |
To see the full case history of Satellite Developers Private 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.
MSME payment delays
Satellite Developers Private Limited has 13 MSME Form 1 returns on record between 2019 and 2024, listing 467 overdue payments to 33 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 33)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Classic Cooling Systems Private Limited | |||
| an individual supplier | |||
| Bhakti Steel LLP | |||
| an individual supplier |
To see the full MSME payment records of Satellite Developers Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Satellite Developers has 7 subsidiary companies and 4 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
7
Subsidiary companies
4
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Newone Constructions Private Limited | U45200MH2005PTC152248 | |
| Satellite Builders Private Limited | U45201MH2014PTC256042 | |
| Satellite Aedifex Private Limited | U45400MH2016PTC286894 | |
| Satellite Infraservices Private Limited | U51900MH2006PTC159519 | |
| Sesen Realty Private Limited | U70100MH2018PTC306952 | |
| Satsang Projects Private Limited | U70100MH2021PTC360392 |
To see the full group structure of Satellite Developers Private Limited, buy the company report.
Employees & EPFO
Satellite Developers Private Limited has a workforce of 54 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
Employee count
54
Active EPFO establishments
1
Employee growth
-1.82%
GST
Satellite Developers has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AADCS0420Q1Z8 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Satellite Developers Private Limited, buy the company report.
Recent activity
Satellite Developers Private Limited has 15 board changes on record since 2008: 3 appointments and 12 cessations. The latest: Sunil Nihalchand Munot was appointed as CEO on 15 Jul 2025.
Charges
A charge registered on 07 Oct 2024 via Charge ID 100994627 with Others was fully satisfied on 27 Nov 2025.
Charges
A charge registered on 01 Mar 2024 via Charge ID 100878179 with Others was fully satisfied on 27 Nov 2025.
Charges
A charge registered on 11 Jul 2023 via Charge ID 100756652 with Others was fully satisfied on 27 Nov 2025.
Appointed
Sunil Nihalchand Munot was appointed as CEO.
Charges
A charge with Others amounted to Rs. 28.40 Cr with Charge ID 101068399 was registered on 27 Mar 2025.
Charges
A charge with Others of Rs. 12.00 Cr registered on 07 Oct 2024 with Charge ID 100994627 was modified on 25 Mar 2025.
Charges
A charge with Others of Rs. 6.00 Cr registered on 01 Mar 2024 with Charge ID 100878179 was modified on 25 Mar 2025.
Charges
A charge with Others of Rs. 25.00 Cr registered on 11 Jul 2023 with Charge ID 100756652 was modified on 25 Mar 2025.
Charges
A charge with Others amounted to Rs. 13.88 Cr with Charge ID 101037188 was registered on 28 Jan 2025.
Charges
A charge with Others amounted to Rs. 12.00 Cr with Charge ID 100994627 was registered on 07 Oct 2024.
AGM
Satellite Developers Private Limited last Annual general meeting of members was held on 01 Oct 2024 as per latest MCA records.
Charges
A charge registered on 17 Nov 2017 via Charge ID 100140160 with Others was fully satisfied on 24 May 2024.
156 earlier events are in the company report.
Frequently asked questions
Satellite 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 17 February 1953 (73+ years old) and is registered under CIN U24291MH1953PTC139290.
Satellite Developers has 3 current directors and KMP:
- Kalpana Pankaj Shah - Director
- Sarjan Pankaj Shah - Director
- Sunil Nihalchand Munot - Ceo
The latest financial statements of Satellite Developers on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 01 October 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Satellite Developers is 27AADCS0420Q1Z8, registered in Maharashtra.
The CIN (Corporate Identification Number) of Satellite Developers is U24291MH1953PTC139290. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Satellite Developers has 121 court cases on record: 54 filed by the company and 67 filed against it. 30 are pending. Most are in the district courts.
Satellite Developers was incorporated on 17 February 1953, making it 73+ years old. It is registered with the Registrar of Companies, Mumbai.
Sunil Nihalchand Munot was appointed as CEO on 15 Jul 2025. Kalpana Pankaj Shah was appointed as Director on 01 Dec 2018. Kalpana Pankaj Shah ceased to be Managing Director on 01 Dec 2018. Satellite Developers has 15 board changes on record in total.
Yes, Satellite Developers is registered as a medium enterprise under Udyam registration (number: UDYAM-MH-19-0094871).
Satellite Developers has 13 MSME Form 1 returns on record between 2019 and 2024, listing 467 overdue payments to 33 micro and small suppliers. The latest return was filed on 25 Apr 2024.
Satellite Developers can be reached through the website groupsatellite.com. Its registered office is in Mumbai, Maharashtra, India.