NIRMAN GROUP

What NIRMAN GROUP does

Nirman Group of Companies is a Mumbai-headquartered, privately held real estate developer founded in 1995 by civil engineers Mr. Rajendra Sawant and Dr. Ajit Marathe. The group operates a multi-brand portfolio anchored by Nirman Realtors & Developers Ltd. (NRDL), which delivers affordable housing across Maharashtra, supplemented in 2025 by SR Properties, a third-generation venture focused on premium and ultra-luxury redevelopment in South Mumbai. A separate non-profit entity, Nirman Foundation Charitable Trust (NFCT), runs the group's CSR programs in education, health, and rural development.

The group's revenue mechanics are characteristic of Indian real estate: development and sale of residential units (and select commercial assets such as the Neral Commercial Plaza) with one-time license revenue recognized on handover and registration. Pricing is quote-based and project-specific; documented GST bands for buyers include 1% on under-construction affordable housing, 5% on non-affordable residential, and 12% on commercial inventory. Go-to-market is sales-led, combining a corporate website with enquiry forms, direct phone/email contact (+91 22 2683 6111), physical engagement at the Andheri East headquarters, on-site sales at projects across Maharashtra, and an explicit NRI buyer-guide channel. Co-development is central to capacity expansion: JVs with Nahar Group (Excalibur, Mahalaxmi), Vaibhavlaxmi Group (Nirman House, Vile Parle), and Subodh Runwal Group (Naigum CHS, Dadar East) materially extend the pipeline.

Operating profile: 57 employees, head office at Apollo Complex, Andheri East (Mumbai 400069), and a cumulative delivery footprint of roughly 1.5 million sq. ft. across 40+ completed projects spanning Mumbai, Neral, Nashik, Mahad, Khandala, and the Konkan region. The group is family-controlled with no disclosed institutional investors, no funding rounds, and no public listing; NAREDCO membership and state-level awards (Udyogshree, MEDC Entrepreneur of the Year) provide industry standing. No proprietary technology stack is disclosed; distribution and execution advantages stem from relationships, JV networks, and redevelopment expertise rather than from software or data assets.

Name

NIRMAN GROUP

Legal name

Nirman Group of Companies

Website

https://nirmangroup.in

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Nirman Group of Companies is a Mumbai-headquartered, family-owned real estate developer (founded 1995) delivering affordable housing across Maharashtra via Nirman Realtors & Developers and premium/ultra-luxury redevelopment in South Mumbai via its SR Properties venture.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development and Property Sales: Primary revenue from development and sale of residential properties across Maharashtra. Revenue generated through sale of affordable housing units, premium luxury units (via SR Properties), and redevelopment projects. Income recognized upon property handover and registration.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Nirman Group of Companies is a Mumbai-based real estate developer that develops, constructs, and sells residential housing projects across Maharashtra. Its core subsidiary Nirman Realtors & Developers Ltd. delivers affordable housing focused on quality and urban redevelopment, while SR Properties targets premium and ultra-luxury housing in South Mumbai. Revenue is generated through one-time sale of residential and commercial units upon handover and registration.

Product overview

Nirman Group of Companies is a Mumbai-based real estate developer founded in 1995, operating a multi-brand portfolio structured around its main subsidiary Nirman Realtors & Developers Ltd. (NRDL) for affordable housing, and SR Properties for premium and ultra-luxury developments in South Mumbai. The group also maintains a CSR arm through the Nirman Foundation Charitable Trust. The company's product portfolio spans completed projects (Excalibur, Valeria, Sanskruti Nirman, Nano City, Shivbhakti, Nirman Nagri, Aditi Nirman, Rushika Nirman, Sankalp Nirman) and ongoing projects (Nirman House, Green Acres, Sanskruti Nirman 2, Mitra Milan, Commercial Plaza, Viviana) across Mumbai, Neral, Nashik, Mahad, Khandala, and the Konkan region. The group has delivered over 14 lakh sq. ft. and completed 40+ projects total including joint ventures.

Differentiator

Problem solved

Functional benefit

Brands

• Nirman Realtors & Developers Ltd. Core operating entity delivering affordable housing across Maharashtra with a focus on quality, innovation, and redevelopment.
• SR Properties
• NFCT

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Nahar GroupcoreStrategic or Co-development PartnerVenture partnership for the Excalibur project located at Mahalaxmi Racecourse. Nahar Group serves as the venture partner for this completed project, representing a collaborative development approach between established real estate entities.
• Vaibhavlaxmi GroupcoreStrategic or Co-development PartnerVenture partnership for Nirman House project in Vile Parle. Vaibhavlaxmi Developers serves as the venture partner, combining expertise for this ongoing redevelopment project in a prime Mumbai suburb.
• Subodh Runwal GroupcoreStrategic or Co-development PartnerVenture partnership for Naigum CHS project in Dadar East. Subodh Runwal Group partners with Nirman Group for this acquisition-stage redevelopment project, bringing established real estate development expertise to the collaboration.
• NAREDCO (National Real Estate Development Council)minorOthersEsteemed member of NAREDCO, India's premier real estate development council. Membership indicates industry recognition and adherence to professional standards in real estate development.
• Vaibhav Lakshmi (referred as Vaibhavlaxmi)coreStrategic or Co-development PartnerCollaborated with industry pioneers including Vaibhav Lakshmi for landmark developments. Partnership focused on delivering projects that redefine modern luxury and stand the test of time.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Kalpataru Group: Established Indian real estate developer with significant Mumbai presence and multi-decade operating history; comparable in scale, project types across residential and commercial, and customer focus.
• Rustomjee Group: Mumbai-based real estate developer with premium and mid-market residential focus across MMR, comparable to Nirman Group in scale, geographic concentration, redevelopment expertise, and product positioning.
• Godrej Properties: Pan-India listed real estate developer with strong Mumbai presence; comparable in multi-city strategy, multi-segment product portfolio (affordable through luxury), and JV-led project execution.
• Lodha Group (Macrotech Developers): One of India's largest Mumbai-focused real estate developers with diversified residential offerings from affordable to luxury; shares MMR market focus with Nirman and competes for the same buyer pool.
• Shapoorji Pallonji Real Estate: Reputed Mumbai real estate developer with residential, commercial, and redevelopment portfolio; comparable in brand reputation, project scale, and multi-decade operating history in Maharashtra.
• Runwal Group: Established Mumbai residential developer with MMR-wide portfolio of ongoing and completed projects; comparable in scale, customer segments, and active JV-based partnership model (also an active Nirman JV partner).
• Oberoi Realty: Premium Mumbai real estate developer focused on luxury residential and commercial developments; a direct comparable for SR Properties' South Mumbai ultra-luxury positioning and redevelopment playbook.
• Hiranandani Group: Established Mumbai developer with residential, commercial, and township portfolio; comparable in market presence, premium positioning, multi-decade operating history, and redevelopment expertise.

Broad incumbents

• DLF Limited: India's largest listed real estate developer with diversified national portfolio across residential, commercial, and retail; broader incumbent operating at significantly greater scale and national footprint than Nirman.

Regional players

• Prestige Group: Mid-to-large Indian real estate developer with comparable scale and multi-segment residential strategy, primarily focused on South India but applying a similar project development and sales approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nirman-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NIRMAN GROUP