Company Intelligence Profile
Teamnest Employee Services Private Limited
TeamNest (trading/brand name of Teamnest Employee Services Pvt Ltd, "TESPL") is a cloud-based Payroll and HR Management System (HRMS) platform for SMBs and enterprises.
Last updated 4 August 2026
TeamNest, the trading name of Teamnest Employee Services Private Limited, provides a cloud-based Payroll and HR Management System (HRMS) platform for SMBs and enterprises. It services over 450 clients in nine countries. Despite being debt-free with a substantial growth in net worth and total assets, it reported significant losses and negative margins in recent fiscal years.
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
| Registered name | Teamnest Employee Services Private Limited |
|---|---|
| CIN | U93090MH2017PTC294505 |
| PAN | AAGCT2410G |
| Status | Active |
| Listing | Unlisted (private limited company) |
| Incorporated | 01 May 2017 |
| ROC | RoC Mumbai / Maharashtra |
| Sector (NIC) | NIC: Other service activities / classified by TheCompanyCheck under HR & placement/support-services activities (Placement agencies and HR management services); operates in IT-enabled HR SaaS (Cloud HRMS) |
| Registered address | 410, Floor-4, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai City, Mumbai, Maharashtra, India – 400021 |
| Authorized capital | ₹75.0 Lakh |
| Paid-up capital | ₹62.51 Lakh (Issued & Subscribed: ₹62.51 Lakh) |
Business Overview
- TeamNest (trading/brand name of Teamnest Employee Services Pvt Ltd, "TESPL") is a cloud-based Payroll and HR Management System (HRMS) platform for SMBs and enterprises
- Per the company's official site (teamnest.com), it offers 14 integrated modules — attendance tracking, leave management, expense management, payroll processing, statutory compliance, employee engagement, and onboarding — and serves "450+ clients in 9 countries" including India, UAE (Dubai), UK and parts of Europe
- The company holds ISO 27001:2022 and ISO 20000-1:2018 certifications
- Source: teamnest.com (primary/official)
Directors
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Prashant Anant Shah | 00933388 | - | - |
| Mahesh Ishwardas Jethani | 06920267 | - | - |
| Saumil Yogesh Gandhi | 01526453 | - | - |
| Ketan Jasubhai Shah | 07579384 | - | - |
| Rachit Kwatra | 10122166 | - | - |
GST Registrations
| GSTIN | State | PAN | Status |
|---|---|---|---|
| 27AAGCT2410G1ZN | Maharashtra | AAGCT2410G | - |
Primary GSTIN: 27AAGCT2410G1ZN (Maharashtra, state code 27) — sourced directly from the company's own official website (teamnest.com), a primary source; treated as confirmed. PAN: AAGCT2410G (matches PAN on Tofler/company site). Home state: Maharashtra. Number of registrations / status of each: not obtained (only the Maharashtra/primary GSTIN was found; multi-state registration count and individual statuses were not accessible via knowyourgst.com/mastersindia.co, which returned errors/404).
Financials
FY2023-24:
- Revenue: ₹1–10 crore band, +39.33% YoY
- EBITDA: declined sharply (-4086.53% YoY, i.e., turned/worsened materially negative)
- Net Profit (PAT): declined -2760.84% YoY (loss-making)
- Net Worth: +28.22% YoY
- Total Assets: +27.1% YoY
- Borrowings: reduced 100% (now zero / debt-free)
- Margins: Operating margin -114.89%, Net margin -77.12%, ROE -23.79%, ROCE -246.88%
- Revenue ₹1.64 Cr, +18.00% YoY
- EBITDA and PAT locked/not obtained
the two sources cite different fiscal years and revenue bases — flagged as a possible source conflict / different reporting periods; treat as partial/unconfirmed at exact-figure level.
Charges / Loans
No charges or secured borrowings are registered against this company's assets.
Legal / Litigation
- Confirmed none found
- Indian Kanoon search for "Teamnest Employee Services Private Limited" returned zero matching cases
Competitors
Named HR/payroll SaaS peers:
- Keka HR (mid-size, well-funded HRMS/payroll leader)
- greytHR (large-scale, long-established HR/payroll SaaS)
- Darwinbox (large, well-funded, enterprise HRMS unicorn-adjacent)
- Zoho People (part of large Zoho suite, big scale)
- HROne (mid-size HRMS/payroll SaaS)
- RazorpayX Payroll (payroll module of a large fintech, big scale)
Teamnest itself appears to be a small-scale player (sub-₹10 Cr revenue band) relative to these larger, well-funded peers.
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