The incident took place when the dacoits, who had their faces covered with monkey caps and handkerchiefs, barged into the office in Teen Hath Naka area at about 3 AM where 4 to 5 staffers were engaged in counting money, Thane Police spokesperson inspector Sukhada Narkar told PTI.
According to initial reports, the amount was pegged at around Rs 12 crore but after counting of the booty looted, police have estimated a sum of nearly Rs 5 crore.
According to a complaint lodged by one of the staffers, the accused spoke in Hindi and Marathi and were attired in half-pants, shirts and vests.
Narkar said the company handled cash for bank ATMs, malls and jewellers. At the time of the incident, the cash collected was kept in the office.
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After receiving an alert, Thane Police Commissioner Param Bir Singh rushed to the scene. He then handed over the probe to crime branch, Thane unit.
The accused were carrying knives, a revolver and a chopper. Besides cash, they also looted mobile handsets and CCTV camera recorder worth Rs 40,000, Narkar said.
An offence was lodged under 395 (dacoity), 397 (preparation to commit dacoity), 342 (wrongful confinement), 506 (2) and relevant sections of Arms Act, she said.
All the accused are at large now and no arrest has been with regard to the incident, police said.