About Ninex Developers Limited
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Ninex Developers Limited is a public limited company based in New Delhi, Delhi, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 19 May 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U70101DL2006PLC148931. Its GSTIN is 06AACCN3074E2ZQ (Haryana). The company holds 2 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹18 Cr and a paid-up capital of ₹18 Cr. It is led by directors including Ram Mehar Garg (Whole-Time Director) and Sandeep Garg (Whole-Time Director).
Its last annual general meeting (AGM) was held on 01 August 2024, and its latest financial statements are for the year ended 31 March 2023. The registered office is at Kh – 115 Vill Chhatterpur, New Delhi, Delhi, India – 110030.
As per the financials filed for FY 2023, the company reported a revenue of ₹8.12 Cr, a decline of 58% compared to the previous year. For the same year it recorded a net loss of ₹3.84 Cr (net margin -47.3%) and EBITDA of -₹13.63 Lakh (EBITDA margin -1.7%). Revenue has declined at a compounded annual rate (CAGR) of 55% over three years and 40% over five years.
Its group structure includes 2 subsidiaries.
As per MCA filings, the company has open charges of ₹144.21 Cr and satisfied charges of ₹83.85 Cr on record. Court records list 131 cases involving the company, including 14 filed by the company and 117 filed against it; 54 cases are pending. The company has 9 deals on record (6 secondary share transfers, 2 funding rounds, 1 acquisition), with disclosed funding of ₹17.8 Cr; the latest was in June 2017.
The current compliance status is marked as active non-compliant by the Registrar of Companies. For more details, the company can be reached via its website ninex.in.
Company details
Contact details
Ninex Developers Limited's registered office is in New Delhi, Delhi. Its website is ninex.in. Its e-mail address is in the company report.
- Email
- Website
- Registered AddressKh – 115 Vill Chhatterpur, New Delhi, Delhi, India – 110030
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Ninex Developers 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 Ninex 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 Ninex Developers Limited, buy the company report.
Financials of Ninex Developers Limited
FY 2023 filings availableNinex Developers Limited reported revenue of ₹8.12 Cr (down 58% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 40% over five years, including a 58% fall in the latest year. EBITDA fell 102% 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
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| EBITDA | -₹13.63 Lakh | ||||
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| Net Profit (PAT) | -₹3.84 Cr | ||||
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Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
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| EBITDA Margin | -1.7% | ||||
| Net Profit Margin | -47.3% | ||||
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To see the full financial statements and ratios of Ninex Developers Limited, buy the company report.
Board of directors of Ninex Developers Limited
Ninex Developers has 3 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ram Mehar Garg Also directs: Skyexotic Maintenance LLP, Dauphin Cables Private Limited, Redtopaz Real Estate Private Limited and 5 more | Whole-Time Director | 19 May 2006 | 20 Years 5 Months | Current |
| Monika Garg Also directs: Dauphin Hospitality Private Limited, Ninex Infotech LLP, Sky Xotic Buildwell LLP and 4 more | Additional Director | 28 Feb 2024 | 2 Years 7 Months | Current |
| Sandeep Garg Also directs: Skyexotic Maintenance LLP, Dauphin Cables Private Limited, Redtopaz Real Estate Private Limited and 5 more | Whole-Time Director | 19 May 2006 | 20 Years 5 Months | Current |
Auditor
Ninex Developers Limited is audited by SHASHI VERMA & COMPANY for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SHASHI VERMA & COMPANY | FY 2018 | 018467N |
Shareholding
The shareholding of Ninex Developers Limited is on record for 3 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2016 | FY 2015 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Ninex Developers Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Apr 2019 | 100255322 | Lakshmi Vilas Bank Limited | ₹1.22 Cr | Open | |
| 31 Oct 2018 | 100229948 | Others | ₹23.23 Cr | Open | |
| 18 May 2018 | 100180250 | Others | ₹17.2 Cr | Open | |
| 26 Jul 2017 | 100115226 | Others | ₹35 Cr | Open | |
| 27 Feb 2017 | 100085419 | Others | ₹2.02 Cr | Open |
To see the full charge records of Ninex Developers Limited, buy the company report.
Total charge records: 25 View all charges
Deals & funding
Ninex Developers Limited has 9 deals on record (6 secondary share transfers, 2 funding rounds, 1 acquisition), with disclosed funding of ₹17.8 Cr; the latest was in June 2017.
Deals on record (5 of 9)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2017 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: RMG Developers Private Limited |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Dauphin Cables Private Limited , an individual Seller: RMG Developers Private Limited , an individual |
| Mar 2017 | Secondary share transfer | Undisclosed | Buyer: Dauphin Cables Private Limited , an individual Seller: Ojswi Trades Investment and Finance Limited |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Ojswi Trades Investment and Finance Limited Seller: Shrey Software Private Limited , Dauphin Sales Private Limited |
| Mar 2014 | Funding round | ₹16 Cr | Investors: Dauphin Akg Hotels Private Limited , Jai Krishan Promoters and Builders LLP , Dauphin Cables Private Limited , an individual |
To see the full deal history of Ninex Developers 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
Ninex Developers Limited has 131 court cases on record: 14 filed by Ninex Developers, 117 filed against it. 54 cases are pending and 77 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 106 | 105 | 46 |
| NCLAT | 14 | 8 | 6 |
| High courts | 5 | 1 | 1 |
| Supreme Court | 4 | 1 | 1 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 131)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Reliance Commercial Finance Limited | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by Reliance Commercial Finance Limited | Pending |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by Aviraj Fincap LLP and 1 other | Disposed |
| NCLAT, NCLAT New Delhi | Insolvency matter | Filed against the company by HDFC Bank Limited | Disposed |
| NCLAT, Company Appeal(AT)(Ins) | Insolvency matter | Filed by the company against M/S Exotica Housing Pvt Ltd and 2 others | Disposed |
To see the full case history of Ninex Developers 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 Ninex Developers Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Ninex Developers has 2 subsidiary companies and 2 associated companies. This group structure data is as of FY 2018. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Redtopaz Real Estate Private Limited | U45201DL2006PTC147961 | |
| RMG Developers Private Limited | U70109DL2006PTC150054 |
To see the full group structure of Ninex Developers Limited, buy the company report.
GST
Ninex Developers has 2 GST registrations: 1 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AACCN3074E2ZQ | Haryana | Active | 21 Jul 2020 |
To see the full GST registrations and return filing status of Ninex Developers Limited, buy the company report.
Recent activity
Ninex Developers Limited has 15 board changes on record since 2006: 3 appointments and 12 cessations. The latest: Sanjay Kumar Sachdev ceased to be CFO on 15 Oct 2024.
41 earlier events are in the company report.
Frequently asked questions
Ninex Developers is an active public limited company based in New Delhi, Delhi, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 19 May 2006 (20+ years old) and is registered under CIN U70101DL2006PLC148931.
Ninex Developers has 3 current directors:
- Ram Mehar Garg - Whole-Time Director
- Sandeep Garg - Whole-Time Director
- Monika Garg - Additional Director
The latest financial statements of Ninex Developers on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 01 August 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Ninex Developers is 06AACCN3074E2ZQ, registered in Haryana. 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 Ninex Developers is U70101DL2006PLC148931. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ninex Developers has 131 court cases on record: 14 filed by the company and 117 filed against it. 54 are pending. Most are in the district courts.
Ninex Developers was incorporated on 19 May 2006, making it 20+ years old. It is registered with the Registrar of Companies, Delhi.
Ninex Developers has 9 deals on record (6 secondary share transfers, 2 funding rounds, 1 acquisition), with disclosed funding of ₹17.8 Cr; the latest was in June 2017.
Sanjay Kumar Sachdev ceased to be CFO on 15 Oct 2024. Monika Garg was appointed as Additional Director on 28 Feb 2024. Veena Garg ceased to be Additional Director on 09 Oct 2021. Ninex Developers has 15 board changes on record in total.
Ninex Developers can be reached through the website ninex.in. Its registered office is in New Delhi, Delhi, India.