About Westerly Retail Private Limited
Data last updated:
Westerly Retail Private Limited was a foreign private limited company based in Navi Mumbai, Maharashtra, India, operated as a subsidiary of Brep Asia Sg Kohinoor Holding (Nq) Pte. Ltd. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the mall and retail management segment of the business services sector. It was incorporated on 10 June 2016.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U45201MH2016FTC282287. Its GSTIN is 27AABCW8337L1ZS (Maharashtra).
The company had an authorised share capital of ₹50 Cr and a paid-up capital of ₹45.4 Cr. It was led by directors Jayen Ajit Naik and Nilesh Kumar Singh.
Its last annual general meeting (AGM) was held on 10 August 2023, and its latest financial statements are for the year ended 31 March 2023. The registered office was at Navi Mumbai, Maharashtra.
As per the financials filed for FY 2023, the company reported a revenue of ₹198.54 Cr, a growth of 47% compared to the previous year. For the same year it recorded a net loss of ₹65.4 Cr (net margin -32.9%) and EBITDA of ₹126.03 Cr (EBITDA margin 63.5%). Revenue has grown at a compounded annual rate (CAGR) of 4% over three years.
The company had about 39 employees on its provident fund (EPFO) records before it was dissolved.
As per MCA filings, the company had satisfied charges of ₹950 Cr on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it. The company has 4 deals on record (2 rights issues, 2 debt financings), with disclosed funding of ₹350 Cr; the latest was in September 2019. Its 6 peer companies in the Business Services industry (Mall Management), with the same principal business activity (real estate activities with own or leased property) are compared by revenue, 3 larger and 3 smaller; the largest is Euthoria Developers Private Limited with revenue of ₹235.85 Cr. The company has 11 MSME Form 1 returns on record between 2020 and 2023, listing 211 overdue payments to 69 micro and small suppliers.
The last known website on record is nexusmalls.com.
Company details
Contact details
Westerly Retail Private Limited's registered office is in Navi Mumbai, Maharashtra. Its website is nexusmalls.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSeawoods Grand Central Mall Mngt. Office Lower Gr. Flr Plot No.R – 1 Sec.40 Node N, Erul, Navi Mumbai, Maharashtra, India – 400706
- IndustryBusiness Services, Mall & Retail Management
To see the full contact details of Westerly Retail 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 Westerly Retail is real estate. In detail, this covers real estate activities with own or leased property.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| L | Real Estate | L1 | Real estate activities with own or leased property |
To see the full business activity and turnover split of Westerly Retail Private Limited, buy the company report.
Financials of Westerly Retail Private Limited
FY 2023 filings availableWesterly Retail Private Limited reported revenue of ₹198.54 Cr (up 47% YoY) for FY 2023.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 4% over three years, including 47% growth in the latest year. EBITDA rose 120% 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 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹198.54 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹126.03 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹65.4 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 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 63.5% | ||||
| Net Profit Margin | -32.9% | ||||
| 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 Westerly Retail Private Limited, buy the company report.
Board of directors of Westerly Retail Private Limited
Westerly Retail has 2 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jayen Ajit Naik Also directs: Nexus Green Power Private Limited, Mamadapur Solar Private Limited, Safari Retreats Pvt Ltd and 5 more | Nominee Director | 12 May 2023 | 3 Years 5 Months | As last reported |
| Nilesh Kumar Singh Also directs: Nexus Green Power Private Limited, Mamadapur Solar Private Limited, Daksha Infrastructure Private Limited and 5 more | Nominee Director | 12 May 2023 | 3 Years 5 Months | As last reported |
Peer comparison
Westerly Retail Private Limited is compared with the 6 companies closest to it by revenue in the Business Services industry (Mall Management), with the same principal business activity (real estate activities with own or leased property), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Euthoria Developers Private Limited | ₹235.85 Cr (FY 2025) | 5.0% | Ahmedabad, Gujarat, India | |||
| Avinash Developers Private Limited | ₹231.21 Cr (FY 2025) | 51.0% | Raipur, Chhattisgarh, India | |||
| Destiny Retail Mall Developers Private Limited | ₹204.23 Cr (FY 2025) | 10.0% | Mahalaxmi, Maharashtra, India | |||
| Westerly Retail Private Limitedthis company | ₹198.54 Cr (FY 2023) | -₹65.4 Cr | -32.9% | 47.0% | 39 | Navi Mumbai, Maharashtra, India |
| Aspen Buildtech Private Limited | ₹190.31 Cr (FY 2025) | 14.0% | New Delhi, Delhi, India | |||
| Nexus Vijaya Retail Private Limited | ₹171.96 Cr (FY 2025) | 16.0% | Chennai, Tamil Nadu, India | |||
| Nambi Buildwell Limited | ₹163.18 Cr (FY 2025) | -2.0% | New Delhi, Delhi, India |
To see the full peer comparison of Westerly Retail Private Limited, buy the company report.
Auditor
Westerly Retail Private Limited is audited by S R B C & Co LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S R B C & Co LLP | FY 2023 | 324982E/E300003 |
Shareholding
The shareholding of Westerly Retail 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 Westerly Retail Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Mar 2017 | 100087965 | Idbi Trusteeship Services Limited | ₹950 Cr | Satisfied |
To see the full charge records of Westerly Retail Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Westerly Retail Private Limited has 4 deals on record (2 rights issues, 2 debt financings), with disclosed funding of ₹350 Cr; the latest was in September 2019.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2019 | Debt financing | ₹50 Cr | Investors: Brep Asia Sg Kohinoor Holding (Nq) Pte Limited, BREP Asia SBS Kohinoor Holding (NQ) Limited, BREP VIII SBS Kohinoor Holding (NQ) Limited |
| Feb 2017 | Debt financing | ₹300 Cr | Investors: Brep Asia Sg Kohinoor Holding (Nq) Pte Limited, BREP Asia SBS Kohinoor Holding (NQ) Limited, BREP VIII SBS Kohinoor Holding (NQ) Limited |
| Jan 2017 | Rights issue | ₹369 Cr | Investors: Brep Asia Sg Kohinoor Holding (Nq) Pte Limited, BREP Asia SBS Kohinoor Holding (NQ) Limited, BREP VIII SBS Kohinoor Holding (NQ) Limited |
| Dec 2016 | Rights issue | ₹2 Cr | Investors: Brep Asia Sg Kohinoor Holding (Nq) Pte Limited, BREP Asia SBS Kohinoor Holding (NQ) Limited, BREP VIII SBS Kohinoor Holding (NQ) Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Westerly Retail Private Limited has 4 court cases on record: 1 filed by Westerly Retail, 3 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 2 | 0 |
| High courts | 2 | 1 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, MAHARASHTRA | Arbitration matter | Filed by the company against Smaaash Entertainment Private Ltd. | Disposed |
| Bombay High Court | Commercial suit | Filed against the company by The Phoenix Mills Limited and Anr | Disposed |
| District court, Chandigarh | Arbitration matter | Filed against the company by an individual | Disposed |
| District court, Pune, Maharashtra | Civil suit | Filed against the company by M/S. Meena Bazar Through Authorized Representative Mr. Sunil Ramu Rathod | Disposed |
To see the full case history of Westerly Retail 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
Westerly Retail Private Limited was last rated by Brickwork on 06 Apr 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Brickwork | 06 Apr 2021 |
To see the full credit ratings and regulatory alerts of Westerly Retail Private Limited, buy the company report.
MSME payment delays
Westerly Retail Private Limited has 11 MSME Form 1 returns on record between 2020 and 2023, listing 211 overdue payments to 69 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 69)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| New Era Informatique Private Limited | |||
| Secure Parking Solutions Private Limited | |||
| an individual supplier | |||
| an individual supplier | |||
| L K Nakashe Consultants Private Limited |
To see the full MSME payment records of Westerly Retail Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Westerly Retail Private Limited has a workforce of 39 employees on its EPFO records as of Oct 2023, across 1 active EPFO establishment.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2023-24 | 39 |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Westerly Retail Private Limited, buy the company report.
GST
Westerly Retail has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCW8337L1ZS | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Westerly Retail Private Limited, buy the company report.
Recent activity
Westerly Retail Private Limited has 18 board changes on record since 2017: 2 appointments and 16 cessations. The latest: Jayen Ajit Naik ceased to be Additional Director on 09 Aug 2023.
12 earlier events are in the company report.
News
Frequently asked questions
Westerly Retail 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.
Westerly Retail was a foreign private limited company based in Navi Mumbai, Maharashtra, India. The company worked in mall and retail management, within the business services industry. It was incorporated on 10 June 2016 and is registered under CIN U45201MH2016FTC282287. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Westerly Retail was incorporated on 10 June 2016. It is registered with the Registrar of Companies, Mumbai.
Westerly Retail had 2 directors:
- Jayen Ajit Naik - Nominee Director
- Nilesh Kumar Singh - Nominee Director
The CIN (Corporate Identification Number) of Westerly Retail is U45201MH2016FTC282287. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Westerly Retail is at Seawoods Grand Central Mall Mngt. Office Lower Gr. Flr Plot No.R – 1 Sec.40 Node N, Erul, Navi Mumbai, Maharashtra, India – 400706.
Westerly Retail can be reached through the website nexusmalls.com. Its registered office is in Navi Mumbai, Maharashtra, India.
The latest financial statements of Westerly Retail on record with the MCA are for the year ended 31 March 2023. Its last annual general meeting was held on 10 August 2023. Year-wise statements from FY 2017 are in the company report.
The GSTIN of Westerly Retail is 27AABCW8337L1ZS, registered in Maharashtra.
Westerly Retail operated in the business services industry, in the mall and retail management segment.
Westerly Retail has 4 deals on record (2 rights issues, 2 debt financings), with disclosed funding of ₹350 Cr; the latest was in September 2019.
The peers of Westerly Retail by revenue are Euthoria Developers Private Limited, Avinash Developers Private Limited, Destiny Retail Mall Developers Private Limited, Aspen Buildtech Private Limited, Nexus Vijaya Retail Private Limited and 1 more, all in the Business Services industry (Mall Management), with the same principal business activity (real estate activities with own or leased property).
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