According to reports from Business Standard and TradingView News, Krystal Integrated Services has announced the acquisition of 100% equity stake in Citelum India from current shareholders, including EDF Group, France. The acquisition will make Citelum India a wholly owned subsidiary of Krystal Integrated Services. This strategic move marks Krystal's entry into the City Lighting & Urban Infrastructure segment as part of its broader strategy to build an engineering-led infrastructure services business. The acquisition was announced on Wednesday, with Krystal Integrated Services shares trading at ₹624.20, down 0.28% amid broader market movements where the Nifty 50 declined 0.39% to 24,376.00.
As reported by Business Standard, Krystal is targeting annual revenue of ₹300-350 crore from the new vertical over the next 3-4 years. The company plans to invest approximately ₹100 crore in engineering capabilities, technology platforms and business expansion to support this growth target. The infrastructure services vertical is expected to contribute 12-15% of consolidated revenues as part of the company's diversification strategy. The acquisition will strengthen Krystal's ability to participate in long-term operations and maintenance projects requiring specialised engineering capabilities, while leveraging Citelum India's domain expertise to pursue larger opportunities in city-focused electrical infrastructure.
According to Business Standard, Krystal plans to scale its operations across 30-40 cities in 12-15 states as part of its expansion strategy. This geographic diversification will support the company's goal of establishing itself as a significant player in the urban infrastructure services market. The expansion is expected to create more than 5,000 skilled and semi-skilled employment opportunities as operations scale. The acquisition positions Krystal to leverage Citelum India's existing capabilities while building new capabilities in the lighting and urban infrastructure segment.
Citelum India operates in the city lighting and urban infrastructure segment, providing design, engineering, installation and maintenance services for street lighting and city lighting infrastructure. Since its inception in 2011, the company has managed more than 3,00,000 lighting points across major projects in Gujarat, Uttar Pradesh, Madhya Pradesh's Indore and Chennai. Its capabilities include energy management, IoT integration, remote network monitoring, EV charging infrastructure and environmental sensor technologies. The company also plans to expand across electrical infrastructure services, including connected lighting, smart metering, EV charging infrastructure and other city-focused electrical solutions.
The acquisition announcement triggered a 0.28% decline in Krystal Integrated Services shares to ₹624.20 on Wednesday, while the broader market declined with the Nifty 50 falling 0.39% to 24,376.00. Krystal Integrated Services provides integrated facility management, staffing, security, catering and waste management services across India, serving sectors including healthcare, education, city infrastructure, waste management and manufacturing. Between FY21 and FY26, the company's customer base increased to more than 570 customers, with operations across more than 4,000 locations in India.
