Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited — real estate and construction in Thane, Maharashtra, India. FY 2026 financials and compliance.
CIN U29130MH1993PLC071231 Incorporated 19 March 1993 ROC Mumbai HQ Thane, Maharashtra, India
Merged Public Limited Company real estate and construction
Data last updated
Revenue · FY 2022
₹123.82 Cr
▲ 18.00% YoY
EBITDA · FY 2022
*****
▲ 19.00% YoY
Net profit · FY 2022
*****
▼ 381.00% YoY
Authorised capital
₹62 Cr
Registered with MCA
Paid-up capital
₹38.93 Cr
Issued & subscribed
Open charges
None
Satisfied ₹2,073.81 Cr
Company age
33 yrs
Est. 1993
Employees · EPFO
57
Latest available

About Sheth Developers & Realtors (India) Limited

Data last updated: 21 July 2025

Sheth Developers & Realtors (India) Limited was a public limited company based in Thane, Maharashtra, India, operated as a subsidiary of Salsette Developers Private Limited. The company has been amalgamated — it was merged with another entity and no longer exists as a separate legal entity. It specialised in real estate development and construction, a part of the broader real estate and construction sector. Incorporated on 19 March 1993.

Registered with ROC Mumbai under CIN U29130MH1993PLC071231.

Capital: an authorised share capital of ₹62 Cr and a paid-up capital of ₹38.93 Cr. Formerly known as Henkel Switchgear Limited and Voltas Switchgears Limited. It was led by directors including Karim Kasimali Merchant and Koshtishwaran Iyer.

Last AGM: 04 July 2022. Financial statements filed for year ended 31 March 2022. Office: Viviana Mall Management Office Upper Basement Eastern Express Highway Thane (West), Maharashtra, India – 400606.

As per the financials filed for FY 2022, the company reported a revenue of ₹123.82 Cr, a growth of 18% compared to the previous year.

The company had a reported workforce of approximately 57 employees prior to being dissolved. It operated as a subsidiary of Salsette Developers Private Limited.

As per MCA filings, the company had satisfied charges of ₹2,073.81 Cr on record.

The company has been merged (amalgamated) with another entity and no longer exists separately. Business activities, if any, continue under the successor entity. The last known website on record is shethdevelopers.com.

Company Details of Sheth Developers & Realtors (India) Limited
CIN U29130MH1993PLC071231
Registration Number 071231
Incorporation Date 19 March 1993
ROC Mumbai
Listing Status Unlisted
Company Status Amalgamated
Date of Last AGM 04 July 2022
Date of Balance Sheet 31 March 2022
Parent Company Salsette Developers Private Limited
Compliance Status Active Compliant
Key People
Koshtishwaran Iyer Cfo Karim Kasimali Merchant Nominee Director Ashwani Singh Director
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
    shethdevelopers.com
  • Social Media
  • Registered Address
    Viviana Mall Management Office Upper Basement Eastern Express Highway Thane (West), Maharashtra, India – 400606
  • Industry
    Real Estate and Construction, Real Estate Builders & Developers
Company report
Sheth Developers & Realtors (India) Limited — full intelligence report
  • Historical Financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Litigation, compliance and MCA filings
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Financials, compliance, directors, charges, ownership and filings for Sheth Developers & Realtors (India) Limited in one report.

10-year financials Directors & ownership Charges & compliance

Name History of Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited has undergone 2 name changes throughout its history. The company was previously known as Henkel Switchgear Limited, and Voltas Switchgears Limited. The current legal name is Sheth Developers & Realtors (India) Limited, reflecting the company's evolution and rebranding over time.

Company Name Status
Sheth Developers & Realtors (India) Limited Current
Henkel Switchgear Limited Previous
Voltas Switchgears Limited Previous

CIN History of Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited has one previous CIN (Corporate Identification Number): L29130MH1993PLC071231. The current CIN is U29130MH1993PLC071231, which is the unique identifier assigned by the Registrar of Companies.

CIN Status
U29130MH1993PLC071231 Current
L29130MH1993PLC071231 Previous

Business Activity of Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited is engaged in the principal business activity of real estate, with detailed activities including 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 *********

Auditor Details of Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited is audited by Price Waterhouse Chartered Accountants LLP for the financial year 2022. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.

Name Status Appointment Date Cessation Date
Price Waterhouse Chartered Accountants LLP blur-value blur-value blur-value

Board of Directors of Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited is currently managed by 7 directors, with 24 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Directors (as last reported)
Name Designation Appointment Date Tenure Status
Karim Kasimali Merchant
Also directs: Visapur Developers Private Limited, Salsette Developers Private Limited, Kukatpally Developers Private Limited and 5 more
Nominee Director 10 Feb 2022 4 Years 4 Months As last reported
Koshtishwaran Iyer
Also directs: Visapur Developers Private Limited, Salsette Developers Private Limited, Kukatpally Developers Private Limited and 5 more
Cfo 30 Sep 2022 3 Years 9 Months As last reported
Ashwani Singh
Also directs: Lifenity Health Limited, Csc Healthcare & Wellness Services Limited
Director 09 May 2022 4 Years 1 Months As last reported
Deepak Jagwani
Also directs: Kukatpally Developers Private Limited
Director 09 May 2022 4 Years 1 Months As last reported
Ashwin Puri
Also directs: Visapur Developers Private Limited, Salsette Developers Private Limited, Kukatpally Developers Private Limited and 5 more
Nominee Director 10 Feb 2022 4 Years 4 Months As last reported
Showing 6 of 7 current directors. View all directors

Financials of Sheth Developers & Realtors (India) Limited FY 2022 filings available

Sheth Developers & Realtors (India) Limited reported revenue of ₹123.82 Cr (up 18% YoY) for FY 2022. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue
₹123.82 Cr ▲ 18%
Profit
***** ▼ -381%
EBITDA
***** ▲ 19%
Metrics
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Revenue
Revenue from Operations
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Revenue Growth %
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Other Income
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Total Revenue
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Expenses
Total Expenses
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Raw Material Cost
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Change in Inventory FG
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Change in Inventory WIP
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Purchase of Traded Goods
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Employee Cost
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Managerial Remuneration
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Audit Fees
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Insurance
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Power & Fuel
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Interest
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Depreciation
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Other Expenses
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Profitability
EBITDA (Operating Profit)
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Operating Margin %
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Exceptional Items
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Extraordinary Items
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Profit Before Exceptional & Extraordinary Items
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Profit Before Tax
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Tax & Net Profit
Tax Expense
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Current Tax
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Deferred Tax
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Profit from Discontinued Operations
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Tax on Discontinued Operations
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Profit
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Net Margin %
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Metrics
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Shareholders' Funds
Total Shareholders' Funds
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Equity Capital
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Reserves & Surplus
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Money Against Warrants
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Other Equity
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Non-Current Liabilities
Total Non-Current Liabilities
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Long-Term Borrowings
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Deferred Tax Liabilities
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Other Non-Current Liabilities
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Long-Term Provisions
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Current Liabilities
Total Current Liabilities
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Short-Term Borrowings
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Trade Payables
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Other Current Liabilities
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Short-Term Provisions
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Total Equity & Liabilities
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Non-Current Assets
Non-Current Assets
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Tangible Assets
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Intangible Assets
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Capital WIP
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Intangibles Under Dev
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Investments
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Deferred Tax Assets
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LT Loans & Advances
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Other Non-Current Assets
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Current Assets
Current Assets
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Current Investments
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Inventories
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Trade Receivables
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Cash & Bank Balance
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ST Loans & Advances
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Other Current Assets
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Total Assets
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Metrics
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Cash from Operating Activities (CFO)
Profit Before Tax
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Non-Cash Adjustments
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+ Interest Expense
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+ Depreciation
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+/- Unrealized Forex
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- Dividend Income
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- Interest Income
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+/- Other Non-Cash Items
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Changes in Working Capital
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+/- Inventory
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+/- Debtors
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+/- Creditors
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Reconciliation Adjustments
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Cash Generated from Operations
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Income Taxes Paid
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Net CFO (Cash from Operations)
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Cash from Investing Activities (CFI)
Acquisitions & Disposals
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Disposal of Subsidiaries
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Acquisition of Subsidiaries
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Capex
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Purchase of Fixed Assets
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Sale of Fixed Assets
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Other Investing Cash Flows
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Net CFI (Cash from Investing)
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Cash from Financing Activities (CFF)
Equity Issuance
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Debt Raised
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Debt Repaid
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Dividends Paid
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Interest Paid
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Net CFF (Cash from Financing)
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Net Cash Position
Net Change in Cash (Pre-Forex)
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Closing Cash & Equivalents
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Metrics
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Liquidity
Current Ratio
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Quick Ratio
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Cash Ratio
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Efficiency
Inventory Days
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Debtor Days
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Creditor Days
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Cash Conversion Cycle
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Asset Turnover
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Profitability
Net Profit Margin %
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Operating Margin %
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ROE %
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ROCE %
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Net Worth Margin %
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Growth
Revenue Growth %
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Leverage
Equity Multiplier
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Debt / EBITDA
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Solvency
D/E Ratio
*****
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ICR
*****
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Consolidated Statements

Income Statement, Balance Sheet, Cash Flow & Ratios available in the full report.

Unlock Complete Financial History (FY 2015 – Latest)
Standalone & Consolidated — Income Statement, Balance Sheet, Cash Flow, Financial Ratios and Growth Trends with 10+ years of line-item data.
10+ years of data Line-item breakdown Balance Sheet detail Cash Flow analysis 20+ ratios & metrics Downloadable PDF

Shareholding Pattern of Sheth Developers & Realtors (India) Limited

As of FY 2022, Sheth Developers & Realtors (India) Limited's shareholding pattern shows 100.00% by promoters. The promoters hold a majority stake, indicating strong promoter control.

2025
YEAR
38.19% Promoters
25.22% DII (Domestic Institutional)
10.28% FII (Foreign Institutional)
25.89% Public
2.42% Others
Shareholding Trend
Year 2025
Promoters 33.19%
DII 23.22%
FII 18.28%
Public 22.89%
Others 2.42%

Charges & Borrowings of Sheth Developers & Realtors (India) Limited

Open charges
₹0
Satisfied charges
₹2,073.81 Cr
Breakdown by lending institutions
Axis Bank Limited₹621.31 Cr
State Bank of India₹557.50 Cr
Allahabad Bank₹300.00 Cr
Indiabulls Financial Services Limited₹285.00 Cr
Indiabulls Housing Finance Limited₹185.00 Cr
Others₹125.00 Cr
Latest charge details
DateLenderAmountStatus
31 Mar 2022 Axis Bank Limited ₹1.2 Cr Satisfied
20 Jul 2019 Axis Bank Limited ₹10.65 Lakh Satisfied
17 Oct 2017 Axis Bank Limited ₹620 Cr Satisfied
01 Oct 2013 State Bank of India ₹557.5 Cr Satisfied
28 Feb 2013 Indiabulls Housing Finance Limited ₹60 Cr Satisfied

Total charge records: 11 View all charges

Employees and EPFO Compliance at Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited has a workforce of 57 employees as of Apr 08, 2024.

Employee count
57
Active EPFO establishments
1
Employee growth
5.56%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Sheth Developers & Realtors (India) Limited

Access employee headcount trends, monthly PF payment records, EPFO establishment details, and compliance data.

Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
PF exemption, coverage & compliance verification

GST Compliance of Sheth Developers & Realtors (India) Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Sheth Developers & Realtors (India) Limited

Access GSTIN registrations, state-wise filing compliance, HSN/SAC codes, and detailed goods & services data.

GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Sheth Developers & Realtors (India) Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay — Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Sheth Developers & Realtors (India) Limited

Access complete credit rating history, litigation records, regulatory alerts, and compliance data.

Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Sheth Developers & Realtors (India) Limited

MSME Payment Delays by Sheth Developers & Realtors (India) Limited

Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.

Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Sheth Developers & Realtors (India) Limited

Subsidiaries & Group Companies of Sheth Developers & Realtors (India) Limited

See the full corporate group — holding company, subsidiaries, associates and joint ventures of Sheth Developers & Realtors (India) Limited with ownership details.

Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Sheth Developers & Realtors (India) Limited

MCA Filings & Documents of Sheth Developers & Realtors (India) Limited

Download official documents filed with the Ministry of Corporate Affairs — from incorporation papers to the latest annual filings.

Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Sheth Developers & Realtors (India) Limited

Charges
14 Feb 2023
A charge registered on 31 Mar 2022 via Charge ID 100555484 with Axis Bank Limited was fully satisfied on 14 Feb 2023.
Charges
14 Feb 2023
A charge registered on 20 Jul 2019 via Charge ID 100282925 with Axis Bank Limited was fully satisfied on 14 Feb 2023.
Directors
30 Sep 2022
Koshtishwaran Iyer was appointed as a CFO on 30 Sep 2022 & has been associated with this company since 3 years 9 months.
Directors
30 Sep 2022
Sejal Vishwanath Sharma was appointed as a Company Secretary on 30 Sep 2022 & has been associated with this company since 3 years 9 months.
Directors
30 Sep 2022
Koshtishwaran Iyer was appointed as a CFO on 30 Sep 2022 & has been associated with this company since 3 years 9 months.
Charges
07 Sep 2022
A charge registered on 17 Oct 2017 via Charge ID 100131922 with Axis Bank Limited was fully satisfied on 07 Sep 2022.

Frequently Asked Questions about Sheth Developers & Realtors (India) Limited

Sheth Developers & Realtors (India) Limited has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.

Sheth Developers & Realtors (India) Limited is a amalgamated public limited company in the real estate and construction sector based in Thane, Maharashtra, India. It was incorporated on 19 March 1993 and is registered under CIN U29130MH1993PLC071231. The company was amalgamated as per MCA records and no longer exists as a legal entity.

Sheth Developers & Realtors (India) Limited was incorporated on 19 March 1993. Registered with ROC Mumbai.

The current directors of Sheth Developers & Realtors (India) Limited are:

The CIN (Corporate Identification Number) of Sheth Developers & Realtors (India) Limited is U29130MH1993PLC071231. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

The primary industry of Sheth Developers & Realtors (India) Limited is real estate and construction. The company specifically operates in real estate builders and developers.

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Financials, directors, compliance, charges and shareholding — sourced from MCA, SEBI and RBI filings.

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