Is CITADEL REALTY AND DEVELOPERS (CITADEL.BO) Stock Halal or Haram?
CITADEL REALTY AND DEVELOPERS (CITADEL.BO) - Not Halal (Non-Compliant)
CITADEL REALTY AND DEVELOPERS (CITADEL.BO) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
Sector
Real Estate
Industry
Real Estate - Development
Result
Pass
Reason
The sector "Real Estate" and industry "Real Estate - Development" are not in the excluded categories.
Financial Ratios
Debt Ratio
Value: 50.8% | Threshold: 30% | Result: Fail
Cash & Interest-bearing Securities Ratio
Value: 0.3% | Threshold: 30% | Result: Pass
Non-Permissible Income Ratio
Value: 0.0% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 0.00%.No non-permissible income detected in the financial statements. No purification is required based on available data.
About CITADEL REALTY AND DEVELOPERS
Citadel Realty and Developers Limited is involved in the business of construction, development, and sale of residential real estate projects in India. It also undertakes slum rehabilitation projects. The company was formerly known as Rohit Pulp & Paper Mills Limited and changed its name to Citadel Realty and Developers Limited in September 2008. The company was incorporated in 1960 and is based in Mumbai, India.
Frequently Asked Questions
Is CITADEL REALTY AND DEVELOPERS (CITADEL.BO) stock halal to invest in?
According to AAOIFI Shariah screening standards, CITADEL REALTY AND DEVELOPERS (CITADEL.BO) is currently classified as Not Halal (Non-Compliant). This is based on both business activity and financial ratio screening.
Does CITADEL REALTY AND DEVELOPERS have any interest income?
CITADEL REALTY AND DEVELOPERS's interest income ratio is 0.3% of total revenue. AAOIFI standards require this to be below 30%.
What guidelines are used to determine if CITADEL.BO stock is Shariah-compliant?
No non-permissible income detected in the financial statements. No purification is required based on available data.
Uses quarterly data
About CITADEL REALTY AND DEVELOPERS
Citadel Realty and Developers Limited is involved in the business of construction, development, and sale of residential real estate projects in India. It also undertakes slum rehabilitation projects. The company was formerly known as Rohit Pulp & Paper Mills Limited and changed its name to Citadel Realty and Developers Limited in September 2008. The company was incorporated in 1960 and is based in Mumbai, India.
IndiaBSEReal Estate
Screened using AAOIFI Standard No. 21 on October 20, 2026. Financial ratios compared against market capitalization. Different methodologies may produce different results. Learn how we screen.
Screened using AAOIFI Shariah Standard No. 21 (3 ratios). Debt and interest-bearing deposits must each be under 30% of market capitalization, and non-permissible income under 5% of total income. This screening is for educational purposes only and does not constitute a fatwa or religious ruling. Results are based on publicly available financial data and automated analysis. Users should consult qualified Islamic scholars and financial advisors for personal investment decisions. Financial data may be delayed or incomplete. Past compliance does not guarantee future status.
Verdict history
Free with an account.
No verdict changes recorded since first screened on Mar 31, 2026. We started recording changes on Oct 19, 2026.
Dates are when Mizaan recorded the change. Tracked and watched stocks are re-checked weekly; other stocks are re-screened on demand.
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Frequently Asked Questions
According to AAOIFI Shariah screening standards, CITADEL REALTY AND DEVELOPERS (CITADEL.BO) is currently classified as Not Halal (Non-Compliant). This is based on both business activity and financial ratio screening.
CITADEL REALTY AND DEVELOPERS's interest income ratio is 0.3% of total revenue. AAOIFI standards require this to be below 30%.
CITADEL.BO is screened using AAOIFI Standard No. 21, which involves two checks: business activity screening (ensuring the company's core business is permissible in Islam) and financial ratio screening (checking debt, interest income, and cash ratios against defined thresholds). AAOIFI is the most widely recognized standard for Islamic finance.
CITADEL REALTY AND DEVELOPERS's compliance status is reviewed whenever new financial data becomes available, typically after quarterly or annual earnings reports. Market cap changes can also affect financial ratio screening results. Mizaan refreshes screening data periodically to reflect the latest filings.
You can save CITADEL.BO to your Mizaan portfolio to track its compliance status over time. Mizaan will update the screening whenever new financial data is available, so you always have the latest result.
Dividends from CITADEL REALTY AND DEVELOPERS require purification. Approximately 0.00% of dividend income should be donated to charity to cleanse earnings from non-permissible sources such as interest income.
Yes, Zakat is generally due on stock holdings. The calculation depends on your school of thought (madhab) and whether you hold shares for trading or long-term investment. Use Mizaan's Zakat calculator to compute your obligation based on your specific madhab and holding intent.
CITADEL.BO is screened using AAOIFI Standard No. 21, which involves two checks: business activity screening (ensuring the company's core business is permissible in Islam) and financial ratio screening (checking debt, interest income, and cash ratios against defined thresholds). AAOIFI is the most widely recognized standard for Islamic finance.
How often is CITADEL REALTY AND DEVELOPERS stock reviewed for Shariah compliance?
CITADEL REALTY AND DEVELOPERS's compliance status is reviewed whenever new financial data becomes available, typically after quarterly or annual earnings reports. Market cap changes can also affect financial ratio screening results. Mizaan refreshes screening data periodically to reflect the latest filings.
How can I stay updated on CITADEL REALTY AND DEVELOPERS's compliance status?
You can save CITADEL.BO to your Mizaan portfolio to track its compliance status over time. Mizaan will update the screening whenever new financial data is available, so you always have the latest result.
Are dividends from CITADEL REALTY AND DEVELOPERS stock considered halal?
Dividends from CITADEL REALTY AND DEVELOPERS require purification. Approximately 0.00% of dividend income should be donated to charity to cleanse earnings from non-permissible sources such as interest income.
Do I need to pay Zakat on my CITADEL REALTY AND DEVELOPERS shares?
Yes, Zakat is generally due on stock holdings. The calculation depends on your school of thought (madhab) and whether you hold shares for trading or long-term investment. Use Mizaan's Zakat calculator to compute your obligation based on your specific madhab and holding intent.
