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.
TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED operates in IT-enabled HR SaaS, offering cloud-based HRMS solutions for SMBs and enterprises with 14 integrated modules. Serving over 450 clients in nine countries, including India, UAE, and UK, the company holds ISO 27001:2022 and ISO 20000-1:2018 certifications. In FY2023-24, the company reported revenue growth but experienced significant declines in EBITDA and PAT, while becoming debt-free. No registered charges or credit ratings were found.
AI-generated, may contain errors.
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.
Sector & Classification
NIC: Other service activities (Tofler) / classified by TheCompanyCheck under HR & placement/support-services activities (Placement agencies and HR management services); operates in IT-enabled HR SaaS (Cloud HRMS)
Directors & Key Management
Directors — source notes
Confirmed by 2 sources (Tofler, TheCompanyCheck) with DINs from Tofler: 1. Prashant Anant Shah — DIN 00933388 (~9 yrs tenure) 2. Mahesh Ishwardas Jethani — DIN 06920267 (~9 yrs tenure) 3. Saumil Yogesh Gandhi — DIN 01526453 (~9 yrs tenure) 4. Ketan Jasubhai Shah — DIN 07579384 (~3 yrs tenure) 5. Rachit Kwatra — DIN 10122166 (~3 yrs tenure) Source: Tofler (DINs), corroborated by TheCompanyCheck (names, no DINs shown).
GST Registrations
| GSTIN | State | PAN |
|---|---|---|
| 27AAGCT2410G1ZN | Maharashtra, state code 27 | AAGCT2410G |
GST — source notes
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
TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED saw a 39.33% YoY revenue rise in FY2023-24 within the ₹1-10 crore range, despite net profit and EBITDA declines leading to losses. The company is debt-free with net worth and total assets up by over 27%. FY2025 revenue grew 18% to ₹1.64 crore, but EBITDA and PAT remain undisclosed.
AI-generated, may contain errors.
| FY2023-24, per Tofler, standalone, directional data — absolute ₹ figures gated behind subscription: | |
| 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% |
| FY2025, per TheCompanyCheck, partial | Revenue ₹1.64 Cr, +18.00% YoY; EBITDA and PAT locked/not obtained. |
| Note | the two sources cite different fiscal years and revenue bases, Tofler ~₹1-10 Cr band vs TheCompanyCheck ₹1.64 Cr, — flagged as a possible source conflict / different reporting periods |
| Treat as partial/unconfirmed at exact-figure level. | |
Funding History
- Not obtained.
- No public funding round, investor, or total-raised data found on Tofler, TheCompanyCheck, or Tracxn, Tracxn company page returned 404.
- Company financial profile, debt-free, small revenue base, is consistent with a bootstrapped/founder-funded company but this is inferential, not sourced.
Loans & Charges
- None registered. Confirmed by 2 sources (Tofler: "Charges: None registered on assets"
- TheCompanyCheck: "does not have any charges (loans) registered with the Registrar of Companies"; no secured borrowings listed).
Legal & Compliance
- Confirmed none found. Indian Kanoon search for "Teamnest Employee Services Private Limited" returned zero matching cases.
Competitive Landscape
- Named HR/payroll SaaS peers, not individually sourced/confirmed per-company, based on general market mapping — flag as partial:
- 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.
Frequently Asked Questions
What does TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED do?
TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED operates in the IT-enabled HR SaaS sector, providing a cloud-based Payroll and HR Management System platform for SMBs and enterprises. The platform offers 14 integrated modules, including attendance tracking, leave management, expense management, payroll processing, statutory compliance, employee engagement, and onboarding services, serving 450+ clients in 9 countries.
What is the CIN of TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED?
The CIN of TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED is U93090MH2017PTC294505.
What is the GSTIN of TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED?
The primary GSTIN of TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED is 27AAGCT2410G1ZN, registered in Maharashtra.
When was TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED incorporated?
TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED was incorporated in the year 2017.
What is the registered office address of TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED?
The registered office of TEAMNEST EMPLOYEE SERVICES PRIVATE LIMITED is located at 410, Floor-4, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai City, Mumbai, Maharashtra, India, 400021.
Sources
Tofler (tofler.in) — identity, directors+DINs, financial % changes, charges; TheCompanyCheck (thecompanycheck.com) — identity corroboration, financials (FY2025 revenue), charges, related directorships; official company website teamnest.com — business overview, GSTIN, PAN, CIN reconfirmation, logo (primary source); Indian Kanoon (indiankanoon.org) — legal search (no results). Falconebiz, knowyourgst.com, findgst.in, mastersindia.co, and Tracxn were attempted but returned no usable data (404s / generic landing pages / server errors).
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.