What we do Citadel Realty & Developers Ltd focuses on real estate development including slum rehabilitation and urban housing projects primarily in Mumbai and neighboring areas. |
Founded in 1,960 |
Market share A recognized player in Mumbai's affordable and slum rehabilitation housing sector with growing urban development projects. |
Problem solved Providing affordable housing solutions for slum rehabilitation and urban populations, addressing housing shortages in Mumbai suburbs. |
Top clients or who we serve B2C residential buyers, municipal authorities for slum redevelopment projects, and real estate partners including joint ventures. |
Key management Mr. Nilesh Dhankumar Dand (CEO & CFO) and Mr. Parmeet Mayur Shah (Whole Time Director) lead with strong expertise in real estate and finance. |
Our journey and innovations Founded in 1960, transitioned from pulp manufacturing to real estate in 2008; pioneering slum rehabilitation projects and launching innovative urban housing. |
Where we operate Primary operations in Mumbai metropolitan region, including Bhandup, Byculla, Mulund, Panvel and nearby suburbs. |
Top products or what we offer Slum rehabilitation projects, luxury residential projects like Monte South, and next-generation urban homes under NeoHomes brand. |
Top brands Monte South – luxury project in South Mumbai; NeoHomes – modern urban housing in Bhandup; NEXT School – India's 1st Big Picture Learning school. |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue mainly from cyclical real estate sales and development projects with some recurring revenue from education ventures. |
Our industry position A niche player with good market standing in affordable housing and slum rehabilitation segments within Mumbai real estate. |
Financial highlights FY 2025 revenue of Rs. 3.54 crore, net profit of Rs. 1.17 crore, showing steady growth and improving profitability. |
Geographical revenue split Revenue predominantly derived from real estate projects within Mumbai and adjoining areas; no notable foreign revenue. |
Order book - |
Whats driving growth Demand for affordable housing, urban redevelopment policies, joint ventures with developers, and education project diversification. |
Our future plans Expansion of slum rehabilitation projects with joint ventures commencing construction activities in FY 2025 and township development phases ongoing. |
Our green promise Energy conservation recognized with national awards; initiatives in sustainable construction and resource efficiency underway. |
Our people and values Focused on governance and compliance with a committed leadership team; promoting inclusive growth and employee welfare. |
Key challenges ahead Managing cyclical real estate market risks, funding project expansions, and navigating regulatory hurdles in urban development. |
Interesting facts Introduced eco-friendly paper manufacturing technology earlier; first Big Picture Learning school in India at Mulund. |
Risks and strategy Mitigates operational risks through JV partnerships and focused urban projects; strategy centers on affordable housing growth and diversification. |
