Ratnabhumi Developers Ltd

Ratnabhumi Developers Ltd

Ratnabhumi Developers Limited was originally incorporated as 'Navratna C G Road Properties Private Limited' at Ahmedabad on July 27 2006. Subsequently the name of the company was changed to 'Ratnabhumi Developers Private Limited' on July 9 2009. Consequently upon the conversion of the Company into public limited company the name of the Company was changed to 'Ratnabhumi Developers Limited' on September 18 2017.Mr. Pranav Shah Mr. Devang Shah and corporate promoter Navratna Organisers & Developers Pvt. Ltd. floated the Company in the year 2006 with the object of acquiring land carrying out construction work developing and organizing of immovable properties etc. In the year 2006-07 the Company took the unsecured loan of Rs. 3768.00 Lakhs from the parties belonging to original promoters and purchased piece and parcel of land at cost of Rs. 44.35 Crores which is situated in prime location of Ahmedabad city at Panchvati Panch Rasta C.G. Road Ahmedabad. With the intention to commence the project namely 'Turquoise' on the said piece and parcel of land the previous promoters Mr. Jitendra Shah and Mr. Mahendra Shah ('Ratna Group') took over the company by acquiring 100% Equity Share holding along with all the assets and liabilities of company from original promoters in the beginning of the year 2009-10. During the period 2009-2012 the Company completed the project namely 'Ratna-TURQUOISE'. During the period 2012-17 the company's main business activities were selling and marketing of commercial offices and shops constructed in the project 'Turquoise'. Apart from selling and marketing of commercials offices and shops the company has rented the shops offices and spaces in the project 'Turquoise' to corporate clients for their business commercials advertisement and installing network equipments. On October 1 2016 the previous promoters Mr. Jitendra Shah and Mr. Mahendra Shah ('Ratna Group') have handed over their business to their next generation i.e. Mr. Kaivan Shah and Mrs. Meghna Shah ('Existing Promoters') by transferring 100% Equity Share holding along with all the assets and liabilities of the company.