Mustaro Technoserve Private Limited

Business Overview

• Per the company's own website (biznest.co.in), Mustaro Technoserve Pvt Ltd trades as "BIZ Nest" — a Goa-based, subscription "destination lifestyle" platform combining co-working spaces, "workation" packages, meeting rooms, virtual offices and serviced living accommodation.
• Positioned as "Goa's Largest Co-Working & Workation Platform" / "India's Only Subscription Based Destination Lifestyle Platform." Operational address given on the site: 7th Floor, Sunteck Kanaka Corporate Park, Patto Centre, Panaji, Goa 403001, distinct from the Mumbai registered office.
• DPIIT-recognised startup, per TheCompanyCheck.
• Registry-level sector tags, Trading / Travel & Hospitality, are generic MCA classifications and less informative than the site's own description.

Sector & Classification

CIN economic-activity code 50404. Registry classifications conflict: Tofler tags the company "Trading"; TheCompanyCheck tags it "Travel and Hospitality – Service apartments / long-stay rentals". Neither matches the company's own description of itself (see business_overview) — treat registry sector tags as low-confidence boilerplate.

Directors & Key Management

GST Registrations

3 GSTINs identified, all sharing PAN AALCM3671R (confirms company PAN): 1. 27AALCM3671R1ZL — Maharashtra (Mumbai Suburban, 201 Phoolbai Mansor CHS, near ICICI Bank Bandra West) — registered 25 Jul 2018 — CANCELLED 20 Aug 2024 (Source: mastersindia.co, direct fetch — confirmed) 2. 30AALCM3671R1ZY — Goa (7th Floor, Suntech Kanaka, Patto Plaza, Panjim) — registered 24 Mar 2021 — ACTIVE/Regular (Source: gst.unifers.ai/knowyourgst aggregation — confirmed) 3. 30AALCM3671R2ZX — Goa (Suntech Kanaka Building, Patto Area, Panaji) — registered 13 Dec 2022 — status CONFLICTING: knowyourgst.com's own individual GSTIN page (fetched directly) shows "Active"; an earlier aggregated search snippet had flagged it "Cancelled." Direct-page data is treated as more reliable, but flag this as unresolved (partial). Home state has effectively shifted from Maharashtra (original registration, now cancelled) to Goa (2 registrations, matching the BizNest operational HQ). #registrations found: 3 (may not be exhaustive — GST portal itself not queried, blocked source).

Financials

• Standalone entity, no subsidiaries/consolidation indicated.
• Revenue, FY ended 31 Mar 2025: ₹4.53 Cr, up ~1.00% YoY, Source: TheCompanyCheck
• EBITDA / PAT / Net Worth / Total Borrowings (absolute ₹): locked behind paywalls on both Tofler and TheCompanyCheck — not obtained
• Tofler-published ratios, as of Mar 2025, standalone: Net Profit Margin 7.03%, Gross Margin 0.27, Operating Margin -0.13, Return on Equity 7.53%, ROCE -2.41%, Debt-to-Equity 0.18
• Last balance sheet date: 31 Mar 2025; Auditor (FY2023): Madhur Agarwal & Associates, Source: TheCompanyCheck
• Employees per EPFO: 0, as of 04 May 2024, — likely means no salaried employees under an EPFO-registered establishment, consistent with a very small paid-up-capital entity.

Funding History

• No funding rounds, investors, or press coverage found via web search, Tracxn not directly queried; no Entrackr/Inc42 hits surfaced.
• Company is DPIIT-recognised as a "Startup", TheCompanyCheck, but no institutional funding could be confirmed.
• Given the ₹1.05-1.15 lakh paid-up capital, likely bootstrapped/founder-funded.
• Status: none found.

Shareholding

• Not obtained — locked behind Tofler/TheCompanyCheck premium tiers.
• Given only 3 directors and negligible paid-up capital, the company is almost certainly closely held by the Shaikh family, Nasreen Abrar Shaikh, Abrar Mateen Shaikh, Kashif Shaikh, but this is inference, not a confirmed shareholding table.

Loans & Charges

• Conflicting sources:
• Tofler, fetched directly: "As per information available, the company has no registered charges."
• TheCompanyCheck: Total open charges ₹51.53 Lakh — HDFC Bank Limited ₹16.53 Lakh, charge dated 06 Jun 2024, and another lender ₹35 Lakh, charge dated 27 Feb 2025.
• TheCompanyCheck's dated, itemised entries are more likely current
• Tofler's blanket "no charges" statement may reflect a stale cache predating the 2024/2025 charge filings. Treat as partial/unresolved conflict — do not present either as sole fact without the caveat.

Related Parties

• Common-director entities identified by TheCompanyCheck, directors overlap with Mustaro Technoserve's Shaikh-family directors, not a confirmed corporate group/parent-subsidiary structure:
• Squeakee Media Private Limited
• Dairypreneurs Dairy Farm Private Limited
• My Lookalike Startup Private Limited
• Dempo Biz Nest LLP, name suggests direct BizNest-brand affiliation
• No ultimate parent/holding company identified.

Credit Ratings

• None found. No CRISIL/ICRA/CARE rating surfaced for Mustaro Technoserve Private Limited or the "BizNest" brand — consistent with a small, unlisted, non-rated private company with no public debt instruments.

Legal & Compliance

• No matching cases found on Indian Kanoon for "Mustaro Technoserve" as of the check date — confirmed absence of reported litigation in that database, does not rule out matters not indexed by Indian Kanoon.

Competitive Landscape

• Goa co-working / workation-space peers, rough scale vs. BizNest, a single-city niche subscription operator with ~₹4.5 Cr revenue:
• Regus, large, international serviced-office chain — much larger scale
• 91Springboard Goa, larger, multi-city Indian coworking chain
• IKeva, mid-size regional coworking chain
• Evoma, mid-size regional coworking/serviced-office chain
• Spacion Business Centre, comparable small/local scale
• MeWo / Co-Work Nest, Corporate Deck (Margao), Clay Anjuna, Ignite EDC Innovation Hub (Panaji) — comparable small, Goa-local coworking spaces, similar scale to BizNest
• Source: web search aggregation, Crunchbase/G2-style alternative listings; not a registry-verified list.

Frequently Asked Questions