Devarajan Swaminathan & Co.

Cost Accountants - aligning costs with strategies

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About Us

We are a firm of Cost and Management Accountants (CMA's) based in Thane-Mumbai with offices in Noida and Bangalore. We are registered as practitioners with The Institute of Cost Accountants of India - ICAI. We are bound by the Institute's code of ethics and code of conduct. To know more about the Institute please visit

Our core areas of work include 

Accounts, Audit and Assurance, Business Advisory, Balanced Scorecard (Executing Strategies), Corporate Finance, Taxation and TCM (Total Cost Management).

The firm was established on 17th March 2008 as a Proprietary concern and provides services to Corporates. Medium and Small Enterprises and also to Individuals.
Assignments undertaken, among others, include designing a cost accounting system, cost compliance report, cost audit, internal audit, raising Private Equity for a Health Care company, Streamlining the Accounts Function for a company in Real Estate Development, Data Analytics for a Company based in Hong Kong. 

The firm is empaneled with leading Public Sector Enterprises as consultants for undertaking assignments relating to Audit, Fund Raising (both domestic and international), Financial Modeling and Investments.
Sector wise Clients
  1. Real Estate
  2. Infrastructure
  3. Engineering
  4. Rubber
  5. Pharma
  6. Plastics
  7. Chemicals
  8. Telecommunications
  9. Hospitals


Team Profile:

CMA Devarajan Swaminathan (Dev) B'Com, FCMA is the Fellow Member of the Institute of Cost Accountants of India (ICAI) and CEO of Devarajan Swaminathan & Co. He has more than 18 years of post qualification experience in Accounts, Audit and Finance. His last stint in employment was with ICICI Bank Limited as Credit Manager. He is widely traveled and has worked in Dubai and Hong Kong.

CMA Devarajan Swaminathan is a Merit Holder in the ICAI Final Examinations held in December 1997. He is an active participant in the Institute's Professional Development Activities.

He specializes in Audit and Corporate Finance. He has vast experience in preparing Standard Operating Procedures Manual and implementing it, conducting internal audit, stock taking and valuation. He has conducted Cost Audits, Cost Compliance Reports, Internal Audits, 704 VAT Audit, raised Project Finance for Real Estate Developers, Certifications under DPCO norms,  Structured Credit Limits for Companies, advised small firms on getting credit under the CGTSI Scheme and individuals and NRI's in Real Estate Investments, Financial Planning and getting Mortgage Loans. 

Participated in 5 days intensive training programme on Balanced Scorecard (BSC - Executing Strategies), by Palladium Group (founded by David Norton and Robert Kaplan).

Also participated, on invitation from the CII's Total Cost Management Division, in Cost Management Maturity Assessment in a renowned Company and on ESG reporting organized by GRI. 

Mrs. Shuba Vijaysankar, B'com, CPA is a consultant at the firm's Bangalore Branch. She completed her B'com from Mumbai University and her CPA from the American Institute of Certified Public Accountant (AICPA). She has more than 15 years of post qualification experience in Accounts, Audit and Taxation. She has vast experience in conducting internal and systems audit in India and the US. Further she has designed financial accounting systems from the scratch in companies in India and in the US.  She also has experience in income tax compliance and management both under the Indian and the US Law.