Shivalik Developers Private Limited
About Shivalik Developers Private Limited
Data last updated:
Shivalik Developers Private Limited is a private limited company based in Ahmedabad, Gujarat, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 11 November 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U45201GJ2004PTC045025. Its GSTIN is 24AAICS5790G1Z3 (Gujarat). The company holds 2 GST registrations, all of them active.
The company has an authorised share capital of ₹29.5 Cr and a paid-up capital of ₹28.97 Cr. It was formerly known as Shivalik Developers and Realty Private Limited and Shrushti Organisors Private Limited. It is led by directors Taral Satishkumar Shah and Chitrak Satishbhai Shah.
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 Ahmedabad, Gujarat.
As per the financials filed for FY 2025, the company reported a revenue of ₹37.31 Cr, a decline of 43% compared to the previous year. For the same year it recorded a net profit of ₹4.35 Cr (net margin 11.7%) and EBITDA of ₹18.34 Cr (EBITDA margin 49.2%). Revenue has grown at a compounded annual rate (CAGR) of 149% over three years and 15% over five years.
Its group structure includes 1 subsidiary.
As per MCA filings, the company has open charges of ₹236.55 Cr and satisfied charges of ₹100 Cr on record. Court records list 4 cases involving the company, including 4 filed by the company; 2 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies.
Company details
Name history
Shivalik Developers has undergone 2 name changes throughout its history. The company was previously known as Shivalik Developers And Realty Private Limited, and Shrushti Organisors Private Limited. The current legal name is Shivalik Developers Private Limited.
| Company Name | Status |
|---|---|
| Shivalik Developers Private Limited | Current |
| Shivalik Developers And Realty Private Limited | Previous |
| Shrushti Organisors Private Limited | Previous |
Contact details
Shivalik Developers Private Limited's registered office is in Ahmedabad, Gujarat. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered Address1/G.F. Shivalik House Nr. Aarjav Society Nr.Setelite Police Station Opp.Satyagruh, Chhavani, Ahmedabad, Gujarat, India – 380015
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Shivalik 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
Business activity
The main business activity of Shivalik 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 Shivalik Developers Private Limited, buy the company report.
Financials of Shivalik Developers Private Limited
FY 2025 filings availableShivalik Developers Private Limited reported revenue of ₹37.31 Cr (down 43% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 43% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 15%. EBITDA fell 30% 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 | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹18.34 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹4.35 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
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 49.2% | ||||
| Net Profit Margin | 11.7% | ||||
| 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 | |||||
To see the full financial statements and ratios of Shivalik Developers Private Limited, buy the company report.
Board of directors of Shivalik Developers Private Limited
Shivalik Developers has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Taral Satishkumar Shah | Director | 11 Nov 2004 | 21 Years 11 Months | Current |
| Chitrak Satishbhai Shah | Director | 11 Nov 2004 | 21 Years 11 Months | Current |
Peer comparison
Shivalik Developers Private Limited is compared with the 4 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 |
|---|---|---|---|---|---|---|
| Suratwwala Business Group Limited | ₹37.32 Cr (FY 2025) | -49.0% | Pune, Maharashtra, India | |||
| Shivalik Developers Private Limitedthis company | ₹37.31 Cr (FY 2025) | ₹4.35 Cr | 11.7% | -43.0% | Ahmedabad, Gujarat, India | |
| Sethia Infrastructure Private Limited | ₹37.26 Cr (FY 2024) | 255.0% | Mumbai, Maharashtra, India | |||
| Bihar Police Buildings Constructions Corporation Private Limited | ₹37.25 Cr (FY 2018) | -9.0% | Patna, Bihar, India | |||
| Ramakrishna Housing Private Limited | ₹37.2 Cr (FY 2017) | 46.0% | Vijayawada, Andhra Pradesh, India |
To see the full peer comparison of Shivalik Developers Private Limited, buy the company report.
Auditor
Shivalik Developers Private Limited is audited by DHIREN SHAH & CO . for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DHIREN SHAH & CO . | FY 2023 | 114633W |
Shareholding
The shareholding of Shivalik 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 Shivalik Developers Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 04 Sep 2025 | 101164023 | Others | ₹100 Cr | Open | |
| 20 Mar 2025 | 101079969 | Others | ₹100 Cr | Open | |
| 27 Jun 2024 | 100947500 | Hdfc Bank Limited | ₹35.2 Cr | Open | |
| 02 Jun 2006 | 100768056 | Uti Bank Ltd | ₹1.35 Cr | Open | |
| 15 Apr 2021 | 100449046 | Others | ₹35 Cr | Satisfied |
To see the full charge records of Shivalik Developers Private Limited, buy the company report.
Total charge records: 6 View all charges
Legal cases
Shivalik Developers Private Limited has 4 court cases on record: 4 filed by Shivalik Developers. 2 cases are pending and 2 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 2 | 0 | 1 |
| District courts | 1 | 0 | 1 |
| NCLT | 1 | 0 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Court case (CR EN) | Filed by the company against an individual | Pending |
| High Court, GUJARAT | Special civil application | Filed by the company against Income Tax Officer, Ward 4( | Pending |
| NCLT, Ahmedabad | Court case (C.P.(CAA)) | Filed by the company | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Union of India and 1 other | Disposed |
To see the full case history of Shivalik 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
No delayed payments to MSME suppliers are on our record for Shivalik Developers Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Shivalik Developers has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Shivalik Institute of Real Estate Private Limited | U80900GJ2022PTC137019 |
To see the full group structure of Shivalik Developers Private Limited, buy the company report.
GST
Shivalik Developers has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAICS5790G1Z3 | Gujarat | Active | 01 Jul 2017 |
| 24AAICS5790G2Z2 | Gujarat | Active | 07 Mar 2024 |
To see the full GST registrations and return filing status of Shivalik Developers Private Limited, buy the company report.
Recent activity
Shivalik Developers Private Limited has 4 board changes on record since 2004: 3 appointments and 1 cessation. The latest: Shivani Arora was appointed as Company Secretary on 01 Oct 2025.
5 earlier events are in the company report.
Frequently asked questions
Shivalik Developers is an active private limited company based in Ahmedabad, Gujarat, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 11 November 2004 (22+ years old) and is registered under CIN U45201GJ2004PTC045025.
Shivalik Developers has 2 current directors:
- Taral Satishkumar Shah - Director
- Chitrak Satishbhai Shah - Director
The latest financial statements of Shivalik 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 Shivalik Developers is 24AAICS5790G1Z3, registered in Gujarat. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 24AAICS5790G2Z2 (Gujarat).
The CIN (Corporate Identification Number) of Shivalik Developers is U45201GJ2004PTC045025. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Shivalik Developers has 4 court cases on record: 4 filed by the company. 2 are pending. Most are in the high courts.
Shivalik Developers was incorporated on 11 November 2004, making it 22+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Shivalik Developers by revenue are Suratwwala Business Group Limited, Sethia Infrastructure Private Limited, Bihar Police Buildings Constructions Corporation Private Limited, Ramakrishna Housing Private Limited, all in the Real Estate industry (Builders and Developers), with the same principal business activity (buildings).
Shivani Arora was appointed as Company Secretary on 01 Oct 2025. Satishkumar Nyalchandbhai Shah ceased to be Director on 01 Apr 2021. Chitrak Satishbhai Shah was appointed as Director on 11 Nov 2004. Shivalik Developers has 4 board changes on record in total.
The registered office of Shivalik Developers is at 1G.F. Shivalik House Nr. Aarjav Society Nr.Setelite Police Station Opp.Satyagruh, Chhavani, Ahmedabad, Gujarat, India – 380015.
Shivalik Developers operates in the real estate and construction industry, in the real estate builders and developers segment.