About Ashima Limited

Ashima Limited is an Ahmedabad-based company incorporated in 1982. The business has been led since inception by its founder, Chintan N. Parikh, who continues as Chairman & Managing Director. The company is engaged in the Real Estate business, and it has a wholly owned subsidiary registered as a SEBI Portfolio Manager; during the latest year, the company closed its cotton textile operations. Its activities are focused in Ahmedabad, Gujarat, where it sees “huge opportunities” across multiple market segments in the city’s real estate sector.

Products and services include real estate development and portfolio management services delivered by its SEBI-registered PMS subsidiary. 

Two ongoing real estate projects anchor its pipeline:

• Swan Lake: a plotted development near Ahmedabad over approximately 38,00,000 sq ft with projected revenue of about Rs 350 crore.
• The Sovereign: a premium high-rise at Thaltej, Ahmedabad, comprising 102 residences in a 430 ft, 37-floor tower with about 6,46,000 sq ft built-up area and estimated revenue potential of approximately Rs 500 crore.

Geography and facilities: Operations are concentrated in Ahmedabad; revenue during the year was entirely from India. The registered office and plant location is at Texcellence Complex, Khokhara–Mehmedabad, Ahmedabad – 380021.

Corporate structure: As on March 31, 2025, the company has one subsidiary (wholly owned).

Key milestones of Ashima Limited

• Incorporation in 1982 and continuous leadership under the founder, Chintan N. Parikh.
• Strategic pivot into Real Estate with two large projects in Ahmedabad.
• Closure of cotton textile operations during the year; shareholder approval obtained via postal ballot on October 28, 2024, for disposal of operational movable assets including brand name.
• Incorporation of a wholly owned subsidiary on May 14, 2024; investment portfolio transitioned to the subsidiary in February 2025 following SEBI PMS registration, aligning investment activity under the PMS framework.

Ashima Limited Business Segments

• Segment mix (FY 2024-25, consolidated): Real Estate 50.2%; Investment 49.1%; PMS 0.8% (Others 0%).
• Geography mix (FY 2024-25): In India 100%; Outside India 0%.

Ashima Limited Key Management

• Chintan N. Parikh – Chairman & Managing Director.
• Krishnachintan C. Parikh – Executive Director.
• Jayesh C. Bhayani – Chief Financial Officer.
• Harshil Shah – Company Secretary (w.e.f. August 20, 2024).
• Shrikant S. Pareek – Director (Operations) (resigned w.e.f. March 31, 2025).

Latest Updates on Ashima Limited

• Strategic restructuring: The company closed its cotton textile operations during the year; members approved disposal of operational movable assets including the brand name via postal ballot on October 28, 2024.
• Subsidiary formation and PMS migration: The wholly owned subsidiary was incorporated on May 14, 2024, and received SEBI PMS registration; the investment portfolio transitioned to this subsidiary in February 2025 to operate under the PMS framework.
• Real Estate project progress: Development continued on Swan Lake (plotted development near Ahmedabad) and The Sovereign (a 37-floor, 430 ft residential tower at Thaltej), both positioned in premium Ahmedabad locations with significant revenue potential upon completion.
• Board and KMP changes: Appointment of Mr. Nilesh Mehta as Independent Director (w.e.f. May 25, 2024); retirement of Dr. Bakul Dholakia as Independent Director (w.e.f. September 28, 2024); appointment of Mr. Harshil Shah as Company Secretary (w.e.f. August 20, 2024); resignation of Mr. Shrikant S. Pareek as Whole-time Director (w.e.f. March 31, 2025).