Board Meeting25 Aug 2026, 07:50 pm
Citadel Realty Board Approves Land Transfer & Revised AGM Notice
AI Summary
Citadel Realty and Developers Ltd announced that its Board of Directors has approved the transfer of a land parcel measuring 1880.80 Sq.mt in Bhandup to a related party, Shree S S Infra Developers Private Limited, subject to shareholder approval. The transaction, valued at market or stamp duty value, represents approximately 30% of the listed entity's annual consolidated turnover. The board also approved a revised notice for the Annual General Meeting with an added agenda item. The transfer is considered part of the business strategy to improve cash flow and enhance shareholder value, conducted on an arm's length basis.
Key Highlights
- Board approved land transfer to related party, Shree S S Infra Developers.
- Transaction value is at market/stamp duty value, ~30% of annual turnover.
- Revised AGM notice approved with new agenda item.
- Transfer aims to improve cash flow and shareholder value.
- Shareholder approval is required for the land transfer.
Price Impact
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