Torna Developers Private Limited
About Torna Developers Private Limited
Data last updated:
Torna 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 September 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U45400MH2019PTC330659. Its GSTIN is 27AAHCT5187F1Z0 (Maharashtra).
The company has an authorised share capital of ₹43.32 Cr and a paid-up capital of ₹40.68 Cr. 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 16 Flr 1611 1612 B&C Wing C/66 G Block One BKC Opp Bank Of Baroda Bandra(E), Mumbai, Maharashtra, India – 400051.
As per the financials filed for FY 2025, the company reported a revenue of ₹29.96 Cr, a growth of 31% compared to the previous year. For the same year it recorded a net loss of ₹24.08 Cr (net margin -80.4%) and EBITDA of ₹1.3 Cr (EBITDA margin 4.3%). Revenue has grown at a compounded annual rate (CAGR) of 580% over three years and 801% over five years.
The company has about 22 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹185 Cr and satisfied charges of ₹150 Cr on record. The company has 5 deals on record (2 convertible or debt financings, 1 rights issue, 1 secondary share transfer), with disclosed funding of ₹52 Cr; the latest was in May 2021. Its 10 peer companies in the Real Estate industry (Builders and Developers) are compared by revenue, 5 larger and 5 smaller; the largest is Creation Shelters Private Limited. The company has 6 MSME Form 1 returns on record between 2021 and 2023, listing 18 overdue payments to 9 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies.
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- Registered Address16 Flr 1611 1612 B&C Wing C/66 G Block One BKC Opp Bank Of Baroda Bandra(E), 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 Torna Developers Private Limited
The main business activity of Torna 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 Torna Developers Private Limited FY 2025 filings available
Torna Developers Private Limited reported revenue of ₹29.96 Cr (up 31% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Torna Developers Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 801% over five years, including 31% growth in the latest year. EBITDA rose 201% 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 Torna 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 | ₹1.3 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹24.08 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 Torna Developers Private Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 4.3% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -80.4% | •••• | •••• | •••• | •••• |
| 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 Torna Developers are in the company report.
Financial statements from FY 2020
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 Torna Developers Private Limited
Torna Developers Private Limited is compared with the companies closest to it by revenue in the Real Estate industry (Builders and Developers). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Creation Shelters Private Limited | •••• | •••• | •••• | •••• | - | Bangalore, Karnataka, India |
| Bestcity Developers (India) Private Limited | •••• | •••• | •••• | •••• | - | Delhi, India |
| Pranjee Properties Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Legendary Builders Private Limited | •••• | •••• | •••• | •••• | - | Chennai, Tamil Nadu, India |
| Srikrisna Estates and Constructions Private Limited | •••• | •••• | •••• | •••• | - | Bhubaneswar, Orissa, India |
| Torna Developers Private Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Logix Infratech Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| Remigate Infradevelopers Private Limited | •••• | •••• | •••• | •••• | - | New Delhi, Delhi, India |
| Indrajit Properties Private Limited | •••• | •••• | •••• | •••• | 11 | Mumbai, Maharashtra, India |
| Idyllic Resorts Private Limited | •••• | •••• | •••• | •••• | - | Chandigarh, India |
| Agarwal Jagdish Construction Company Private Limited | •••• | •••• | •••• | •••• | - | Nasriabad, Rajasthan, India |
Peers are the five companies nearest above and the five nearest below Torna Developers by revenue in the Real Estate industry (Builders and Developers), 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 Torna Developers Private Limited
Torna 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 Torna Developers Private Limited
Torna 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, Salsette Developers Private Limited and 5 more | Nominee Director | 08 Nov 2019 | 6 Years 10 Months | Current |
| Koshtishwaran Iyer Also directs: Visapur Developers Private Limited, Salsette Developers Private Limited, Kukatpally Developers Private Limited and 4 more | Nominee Director | 31 May 2021 | 5 Years 4 Months | Current |
| Ashwin Puri Also directs: Edgewood Advisory Ifsc LLP, Visapur Developers Private Limited, Salsette Developers Private Limited and 5 more | Nominee Director | 08 Nov 2019 | 6 Years 10 Months | Current |
Ownership and Shareholding of Torna 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 Torna Developers Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 14 Jan 2025 | Idbi Trusteeship Services Limited | ₹185 Cr | Open |
| 02 Nov 2022 | Idbi Trusteeship Services Limited | ₹150 Cr | Satisfied |
Total charge records: 2 View all charges
Deals & Funding of Torna Developers Private Limited
Torna Developers Private Limited has 5 deals on record (2 convertible or debt financings, 1 rights issue, 1 secondary share transfer), with disclosed funding of ₹52 Cr; the latest was in May 2021.
Deals on record (3 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2021 | Rights issue | ₹4 Cr | Investors: Lake Shore India Advisory |
| Nov 2019 | Acquisition | ₹173.17 Cr | Buyer: Lake Shore India Advisory |
| Nov 2019 | Secondary share transfer | Undisclosed | Buyer: Lake Shore India Advisory, Lake Shore India Retail Venture Fund & Ashwin Puri Seller: 2 individuals |
Full deal history
All 5 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.
MSME Payment Delays by Torna Developers Private Limited
Torna Developers Private Limited has 6 MSME Form 1 returns on record between 2021 and 2023, listing 18 overdue payments to 9 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 9)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| Prabhat Powertech Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Samunnati Projects Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 6 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 Torna Developers Private Limited
Torna Developers Private Limited has a workforce of 22 employees as of Apr 07, 2024.
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.
Recent Activity on Torna Developers Private Limited
Torna Developers Private Limited has 8 board changes on record since 2019: 3 appointments and 5 cessations. The latest: Koshtishwaran Iyer was appointed as Nominee Director on 31 May 2021.
2 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Torna 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 Torna 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 Torna Developers Private Limited
Torna Developers has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAHCT5187F1Z0 | Maharashtra | Active | 28 Nov 2019 |
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 Torna 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 Torna Developers Private Limited
Torna 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 September 2019 (7+ years old) and is registered under CIN U45400MH2019PTC330659.
Torna Developers reported revenue of ₹29.96 Cr for FY 2025 (up 31% YoY).
Torna Developers has 3 current directors:
- Karim Kasimali Merchant - Nominee Director
- Koshtishwaran Iyer - Nominee Director
- Ashwin Puri - Nominee Director
Torna Developers reported a net loss of ₹24.08 Cr (net margin -80.4%) and EBITDA of ₹1.3 Cr (EBITDA margin 4.3%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Torna Developers is 580% over three years and 801% over five years. In the latest year (FY 2025) revenue rose 31%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Torna Developers is 27AAHCT5187F1Z0, registered in Maharashtra.
The CIN (Corporate Identification Number) of Torna Developers is U45400MH2019PTC330659. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Torna Developers was incorporated on 17 September 2019, making it 7+ years old. It is registered with the Registrar of Companies, Mumbai.
Torna Developers has 5 deals on record (2 convertible or debt financings, 1 rights issue, 1 secondary share transfer), with disclosed funding of ₹52 Cr; the latest was in May 2021.
The peers of Torna Developers by revenue are Creation Shelters Private Limited, Bestcity Developers (India) Private Limited, Pranjee Properties Private Limited, Legendary Builders Private Limited, Srikrisna Estates and Constructions Private Limited and 5 more, all in the Real Estate industry (Builders and Developers).
Koshtishwaran Iyer was appointed as Nominee Director on 31 May 2021. Ashwin Puri ceased to be Additional Director on 04 Sep 2020. Karim Kasimali Merchant ceased to be Additional Director on 04 Sep 2020. Torna Developers has 8 board changes on record in total.
Torna Developers has 6 MSME Form 1 returns on record between 2021 and 2023, listing 18 overdue payments to 9 micro and small suppliers. The latest return was filed on 17 Nov 2023.