About Sheth Developers Private Limited
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Sheth 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 06 January 1993 and has been in existence for over 33 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45200MH1993PTC070335. Its GSTIN is 27AAACS9943H1Z0 (Maharashtra). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹88.35 Cr and a paid-up capital of ₹86.87 Cr. It was formerly known as Sheth Developers Limited. It is led by directors including Ashwin Natwarlal Sheth (Managing Director) and Hanuman Parshad Kanodia.
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 Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹90.37 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net loss of ₹84.65 Lakh (net margin -0.9%) and EBITDA of ₹13.07 Cr (EBITDA margin 14.5%). Revenue has declined at a compounded annual rate (CAGR) of 43% over three years and 25% over five years.
The company has about 158 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: Sheth Developers Pvt and Sheth Corp. As per MCA filings, the company has open charges of ₹709.58 Cr and satisfied charges of ₹5,547.36 Cr on record. Court records list 490 cases involving the company, including 148 filed by the company and 343 filed against it; 96 cases are pending. The company has 10 deals on record (6 secondary share transfers, 2 funding rounds, 1 debt financing), with disclosed funding of ₹110.67 Cr; the latest was in June 2021. Its 3 peer companies in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings) are compared by revenue, 1 larger and 2 smaller; the largest is Gsba Builders Private Limited with revenue of ₹90.56 Cr. The company has 45 MSME Form 1 returns on record between 2018 and 2024, listing 1,798 overdue payments to 95 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 shethdevelopers.com.
Company details
Contact details
Sheth Developers Private Limited's registered office is in Mumbai, Maharashtra. Its website is shethdevelopers.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address3rd Floor Prius Infinity Paranjape B Scheme, Subhash Road Vile Parle (East), Mumbai, Maharashtra, India – 400057
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Sheth Developers Private 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
Brands
Sheth Developers operates two associated brands: Sheth Developers Pvt and Sheth Corp. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Develops luxury residential and commercial properties in India. | ashwinshethgroup.com | |
| Potato farming, grain marketing, and equipment services are conducted in Maine. | shethcorp.com |
Business activity
The main business activity of Sheth 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 Sheth Developers Private Limited, buy the company report.
Financials of Sheth Developers Private Limited
FY 2025 filings availableSheth Developers Private Limited reported revenue of ₹90.37 Cr (up 304% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 304% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 25%. EBITDA rose 170% 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 |
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| EBITDA | ₹13.07 Cr | ||||
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| Net Profit (PAT) | -₹84.65 Lakh | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | 14.5% | ||||
| Net Profit Margin | -0.9% | ||||
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To see the full financial statements and ratios of Sheth Developers Private Limited, buy the company report.
Board of directors of Sheth Developers Private Limited
Sheth Developers has 3 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hanuman Parshad Kanodia | Director | 08 Apr 2021 | 5 Years 6 Months | Current |
| Ashwin Natwarlal Sheth Also directs: Lohitka Properties LLP, Sheth Dream Projects LLP, Sheth Homes Spaces Private Limited and 5 more | Managing Director | 31 Mar 2003 | 23 Years 6 Months | Current |
| Sharad Nathuram Doshi Also directs: Rushi Accord Nidhi Construction Private Limited, Valencia and Mishal Ventures Private Limited, Being Animal Foundation and 4 more | Director | 30 Sep 2024 | 2 Years 0 Months | Current |
Peer comparison
Sheth Developers Private Limited is compared with the 3 companies closest to it by revenue in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Gsba Builders Private Limited | ₹90.56 Cr (FY 2025) | -9.0% | New Delhi, Delhi, India | |||
| Sheth Developers Private Limitedthis company | ₹90.37 Cr (FY 2025) | -₹84.65 Lakh | -0.9% | 304.0% | 158 | Mumbai, Maharashtra, India |
| Aaryan Infra-Build Private Limited | ₹90.33 Cr (FY 2025) | -15.0% | Ahmedabad, Gujarat, India | |||
| Vaswani Projects Private Limited | ₹90.23 Cr (FY 2025) | 82.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Sheth Developers Private Limited, buy the company report.
Auditor
Sheth Developers Private Limited is audited by M B AGARWAL & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M B AGARWAL & CO | FY 2023 | 100137W |
Shareholding
The shareholding of Sheth 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 Sheth Developers Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 14 Nov 2025 | 101202417 | Others | ₹15 Cr | Open | |
| 05 Nov 2025 | 101205505 | Others | ₹85 Cr | Open | |
| 31 Oct 2025 | 101183177 | Others | ₹2.76 Cr | Open | |
| 27 Jun 2025 | 101118035 | Others | ₹10 Cr | Open | |
| 31 May 2025 | 101113349 | Others | ₹2.6 Cr | Open |
To see the full charge records of Sheth Developers Private Limited, buy the company report.
Total charge records: 83 View all charges
Deals & funding
Sheth Developers Private Limited has 10 deals on record (6 secondary share transfers, 2 funding rounds, 1 debt financing), with disclosed funding of ₹110.67 Cr; the latest was in June 2021.
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2021 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Ashwin N. Sheth (HUF), Sheth Shelters Pvt Ltd , 2 individuals |
| Feb 2019 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jan 2019 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 4 individuals |
| Jan 2019 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: 2 individuals |
| Dec 2015 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: Jitendra N Sheth HUF, Valabh N. Sheth HUF |
To see the full deal history of Sheth Developers Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Sheth Developers Private Limited has 490 court cases on record: 148 filed by Sheth Developers, 343 filed against it. 96 cases are pending and 394 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 250 | 188 | 55 |
| District courts | 180 | 108 | 26 |
| NCLAT | 32 | 29 | 11 |
| Supreme Court | 18 | 12 | 4 |
| NCLT | 10 | 6 | 0 |
Cases on record (5 of 490)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2501-Insolvency Laws and Insolvency and Bankruptcy Code, 2016 : Insolvency Laws and Insolvency and Bankruptcy Code, 2016) | Filed against the company by Star Finsec (P) Limited | Pending |
| Supreme Court | Court case (2301-Housing and Building-Municipal Laws-Housing and building permits, slums rehabilitation, demolition, encroachment/ removal of encroachment, sealing and urban planning : Housing and Building- matters relating to Municipal Laws, housing and building permits, slums rehabilitation, demolition, encroachment/ removal of encroachment, sealing and urban planning (other than RERA)) | Filed against the company by Pampas Vasant Lawns Tower No.3 CHS Ltd and 4 others | Disposed |
| Bombay High Court | Writ petition | Filed against the company by Avenue Supermarts Ltd | Pending |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed against the company by Puja Fab and Investment Pvt. Ltd. and 21 others | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Carnival Capital Holding Pvt Ltd., | Pending |
To see the full case history of Sheth 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.
Credit ratings & regulatory alerts
Sheth Developers Private Limited was last rated by Care on 05 May 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 05 May 2022 |
To see the full credit ratings and regulatory alerts of Sheth Developers Private Limited, buy the company report.
MSME payment delays
Sheth Developers Private Limited has 45 MSME Form 1 returns on record between 2018 and 2024, listing 1,798 overdue payments to 95 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 95)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Aaditya Industries | |||
| an individual supplier | |||
| an individual supplier | |||
| Kaneria Plast Private Limited | |||
| Tna Readymix India Private Limited |
To see the full MSME payment records of Sheth Developers Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Sheth Developers Private Limited has a workforce of 158 employees on its EPFO records as of Mar 31, 2024, across 1 active EPFO establishment.
GST
Sheth Developers has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACS9943H1Z0 | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Sheth Developers Private Limited, buy the company report.
Recent activity
Sheth Developers Private Limited has 9 board changes on record since 2003: 3 appointments and 6 cessations. The latest: Sharad Nathuram Doshi was appointed as Director on 30 Sep 2024.
166 earlier events are in the company report.
News
Frequently asked questions
Sheth 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 06 January 1993 (33+ years old) and is registered under CIN U45200MH1993PTC070335.
Sheth Developers has 3 current directors:
- Ashwin Natwarlal Sheth - Managing Director
- Hanuman Parshad Kanodia - Director
- Sharad Nathuram Doshi - Director
The latest financial statements of Sheth Developers 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 Sheth Developers is 27AAACS9943H1Z0, registered in Maharashtra. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.
The CIN (Corporate Identification Number) of Sheth Developers is U45200MH1993PTC070335. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sheth Developers has 490 court cases on record: 148 filed by the company and 343 filed against it. 96 are pending. Most are in the high courts.
Sheth Developers was incorporated on 06 January 1993, making it 33+ years old. It is registered with the Registrar of Companies, Mumbai.
Sheth Developers has 10 deals on record (6 secondary share transfers, 2 funding rounds, 1 debt financing), with disclosed funding of ₹110.67 Cr; the latest was in June 2021.
The peers of Sheth Developers by revenue are Gsba Builders Private Limited, Aaryan Infra-Build Private Limited, Vaswani Projects Private Limited, all in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings).
Sharad Nathuram Doshi was appointed as Director on 30 Sep 2024. Hanuman Parshad Kanodia ceased to be Additional Director on 30 Nov 2021. Chintan Ashwin Sheth ceased to be Director on 08 Apr 2021. Sheth Developers has 9 board changes on record in total.
Sheth Developers has 45 MSME Form 1 returns on record between 2018 and 2024, listing 1,798 overdue payments to 95 micro and small suppliers. The latest return was filed on 26 Apr 2024.
Sheth Developers can be reached through the website shethdevelopers.com. Its registered office is in Mumbai, Maharashtra, India.